VAT filing is a recurring activity that can be done faster and easier thanks to technological advancements. By linking with Digipoort, you can send VAT returns digitally via MKG with just one click. How this works is explained in this article.

The Sales Specification Types and Purchase Specification Types tables define the type of specification. You can also record the financial handling of the specification here. Additionally, it can be used as a template to quickly add Sales or Purchase Specifications.

The standard report 'Condensed Period Balance Sheet' shows the balances of the general ledger accounts for the selected period at the chosen consolidation level in the selected fiscal year.

The standard report 'Balance Sheet per Period' shows the totals of the income statement over a specified period. It groups revenues and expenses by category and shows the totals of debit, credit, and balance for each group. There is a distinction between different sub-levels, and the report includes options to suppress categories with no value. The goal is to provide insight into the financial performance of the organization during a specific period.

The standard report 'Result Comparison' shows a comparison of the financial results at the general ledger level compared to the budget and the previous fiscal year. It compares the actual balances with the budgeted amounts per category, calculates variations and ratios. These variations are presented at different detail levels (sub 1, sub 2, total). The report is intended to provide insight into where the actual costs or revenues deviate from expectations, including the option to include period 99 in the analysis.

The standard report 'Inventory Value List on Reference Period' shows the value of the inventory for the chosen fiscal year and period. It provides insight into stock movements per item, batch number, or general ledger account within a selected reference period. The data can be displayed per item or text line and are grouped by general ledger account. Additionally, a pivot table is shown with totals and an overview of the inventory amount per group. The report is intended to support financial accountability and control of inventory valuation.

For the execution of the Work-related Costs Scheme, MKG contains various WKR reports. These reports display a WKR overview per year, showing the free space, untaxed reimbursements, and specific exemptions. Additionally, an overview of journal entries per WKR type, general ledger account, and period is provided.

The standard report 'General Ledger Card Period Amounts' shows an overview of the transactions per general ledger account for the selected period in the currently chosen fiscal year. It displays the transaction document no., description (creditor), debit and credit amounts, and the balance after each transaction.

The standard report 'Trial Balance Sheet' displays a trial balance for a selected period. It shows the opening balance, totals of debit and credit entries, the balance, and the closing balance for each general ledger account. The data is grouped by categories and optionally by sub-levels. Totals are calculated per group, and there are options to suppress accounts or groups without transactions. The report supports financial control and preparation for further reporting.

The standard report 'Outstanding Purchase Invoices' shows the purchase invoices that have not yet been received, specified per packing slip line. It provides insight into outstanding items linked to purchase order lines, including receipt dates, aging, and line amounts. The data is grouped per combination of purchasing group and general ledger account. The report includes totals per group and overall, including pivot tables grouping amounts by general ledger account and by creditor. This supports the control over anticipated costs.

The standard report 'Condensed Result Comparison' provides an overview of the balance/budget factor, period budget, period balance, and discrepancies per general ledger account.

The standard report 'WIP at Reference Period' displays the work in progress (WIP) within a selected period, broken down by cost components such as man hours, machine costs, materials, and outsourcing. The data is grouped by production order line and general ledger account, with totals per group and summaries per production group. Additionally, the report includes a pivot table with WIP values per production group, providing insights into the composition and distribution of work in progress within a financial period.

The standard report 'Condensed Trial Balance Sheet' displays a condensed trial balance for a selected period. It shows the opening balance, totals of debit and credit entries, the balance, and the closing balance per general ledger account. The data is grouped by categories and optionally at sublevels. Totals are calculated per group, and there are options to suppress accounts or groups without transactions. The report supports financial control and preparation for further reporting.

The standard report 'T-balance' shows a balance view of the general ledger accounts within a selected period. It displays the closing balances per account, grouped at various hierarchical levels (categories). The report offers options to suppress sublevels (Sub 1 and Sub 2) and exclude accounts with no balance. Additionally, there is an option to include period 99 (adjustment period) in the overview. The aim is to provide insights into the financial position of the organization based on balance sheet items.

The standard 'General Ledger Journal' report provides an overview of all financial transactions based on journal entries.

"The field 'To General Ledger Account' has not been entered for account '%1' which is required for a profit & loss account." Why do you receive this message and what can you do to resolve it?

This integration processes purchase invoices of the PDF type from a specific mailbox, so that they can easily be processed in MKG via the import function within Purchase Invoices. There are two types of invoices for this: cost invoices and process invoices.

Internal Invoicing is a functionality that makes it possible to account for hours from one administration on a production order in another administration. This gives you insight into the actual costing of orders (hours actually worked). The administrative processing (invoicing) can be automated. This manual explains the design and operation in more detail.

A journal entry is a specific accounting registration within MKG that is used to record a financial transaction. It is a detailed accounting note that specifies the debit and credit entries to show the financial impact of a transaction on a company's general ledger accounts.

BCO helps you to increase your insight into the financial situation of your company and puts you in a better position to determine your cost price. Do you have knowledge of cost prices and do you know the BCO modules? In this article you will find a step-by-step plan to easily set up BCO.