Financials
Retained Earnings and System Income Clearing
This help file explains how COSTAR handles Retained Earnings and what happens during an end of year update. Within this document any reference to a year is the financial year. COSTAR calculates the Retained Earnings each time a financial batch ...
GST in COSTAR
GST in COSTAR - Australia This help file outlines how GST works in Costar. It will cover The setup in the system for GST, Running the GST reports for filling out the GST Calculation Worksheet/Business Activity Statement (BAS) Processing the payment ...
General Ledger Entries and Batch Types
This document looks at the different types of batches in Costar and how they update the General Ledger. Batch Types in Costar OW – Order Writer Batch RC – Accrued Batch JE – Journal Entry CH – Cheque Run MC – Manual Cheque TC – Tax Clearing Journal ...
Dishonoured Cheques
This document covers the processing of a Dishonoured Cheque whether it is for an Account Payment or Cash Sale. Select the appropriate method to follow. Account Payment If a cheque is dishonoured from an Account Payment, the value of the cheque, and ...
Cost of Sales in COSTAR
This help file explains how the Cost of Sales (COS) is calculated in COSTAR and attempts to explain how this may be different to other systems. In a nutshell, the COS General Ledger code is updated when inventory is sold and it is affected by the ...
Bank Reconciliation
Bank Reconciliation is the final step in the bookkeeping process. By reconciling to the bank statement level you are ensuring that all previous processing is correct. For that reason, a bank reconciliation done regularly can reduce the number of ...