2. Agenda
 Internal Control Recommendations
 GP (Great Pain) Best Practices
 Question Period/ Wrap Up

4. Internal Control Recommendations
 Issue
 Not all files being saved in consistent locations on
network if at all
 Impact
 Could lead to risk of important files
 Inefficiency and time consuming to find information
 Recommendation
 Practice saving files in consistent locations
 Demo

5. Internal Control Recommendations
 Issue
 Doesn’t “appear” to be a sound policy in place for
communicating renewed contracts to the finance team
 Impact
 Lack of timely info for finance leads to inaccurate
financial reporting
 Recommendation
 Need to communicate with other directors/managers a
policy of how to keep finance informed with new and
renewed contracts that may impact finance

6. Internal Control Recommendations
 Issue
 Not receiving VISA statements on time amongst possibly
other items needed by Finance on a regular, quarterly or
monthly basis
 Impact
 Lack of timely info for finance leads to inaccurate
financial reporting
 Recommendation
 Inform managers and directors that their cost centres
could be charged penalty/interest fees if deadlines are
not met

7. Internal Control Recommendations
 Issue
 Lack of adequate communication between departments in
adding new accounts and cost centres
 Impact
 Inconsistency between HRIS and GP
 Lack of accurate financial info
 Recommendation
 Everyone needs to be informed of current cost centres used
 Keep updated with OHRS standards to ensure any new cost
centres are both LHIN and OHRS compliant for reporting
purposes

8. Internal Control Recommendations
 Issue
 Petty cash does not appear to be adequately controlled
as money is given in advance
 Impact
 Risk of employees or soon to be “former” employees of
taking advantage of the system (eg. Theft)
 Recommendation
 Employees must spend out of pocket first, then come to
finance with an adequate receipt to obtain
reimbursement from petty cash fund

10. GP Best Practices
 Notes in GP
 Used to track additional information about vendors,
customers, and even transactions in GP
 Notes can be attached, edited, deleted and re-attached any
number of times as needed
 Record level
 Attached to data entry fields such as vendors or customers
 Window Level
 Attached to overall windows in GP
 Can use it to inform employees of how to enter certain transactions
or setting up new accounts etc.
 Demo

11. GP Best Practices
 Hide & Show Icons
 Allows you to
customize your view
of GP while you are
working
 Example
 option to view or NOT
view your distribution
references for an entry
 Demo

12. GP Best Practices
 Date Field
 You can enter dates
graphically vs typing
them into GP for ease
of data entry
 Demo

13. GP Best Practices Bank Transactions
 Every organization is different as
to how to use this module but this
is generally best practice
 Only use Increase/Decrease
Adjustment in the Bank
Transaction Entry screen to help
keep books relatively clean
 Any other INCREASES to the
bank that are not reflected in
Accounts Receivable are
recorded via the Increase
Adjustment
 Any other DECREASES to the
bank that are not reflected in
Accounts Payable are recorded
via the Decrease Adjustment
 Demo

14. GP Best Practices
 Bank Transactions
 NEVER NEVER ENTER
BANK TRANSACTIONS
AS A GL ENTRY –
 Bank Sub ledger vs. Control
account
 By entering Bank
transactions in GL it’s like
you are hitting the bank
Control a/c without
affecting the sub ledger – an
accounting NO NO
 Important if you plan on
using the electronic bank
reconciliation feature in GP
 Demo

15. GP Best Practices
 Letter Wizard in GP
 can create, edit and
delete letters
 Used to prepare
multiple letters at one
time for a range of
customers and/or
vendors
 Demo

16. GP Best Practices
 Batch controls
 Electronic batch
approvals
 Control totals
 Transaction edit list
 Demo

17. GP Best Practices
 Saving Files in GP
 Example
 Posting Reports –
consider electronic in
future
 Demo

18. GP Best Practices
 Saving Files in GP
 J: versus Z:
 Comma Delimited or
Tab Delimited to be
compatible with Excel
 Demo

19. GP Best Practices
 Saving Files in GP
 Append vs. Replace
 Demo

20. GP Best Practices
 Distribution References
 Currently the reference field alone is not
being picked up in GP reports
 A point of contention with auditors
currently
 Need to look into customizing the GP GL
report to pick up info from the Reference
Field vs the Distribution Reference filed
 However for now strongly recommend to
use the Distribution Reference field to
ensure and maintain a good audit
trail/documentation of all transactions
in GP
 Demo

21. GP Best Practices
 General Ledger Smart List
Reports
 Current issue of GL reports
not picking up the Reference
field – instead it is picking
up the Distribution
Reference Field
 Problem as staff are not
using the Distribution
Reference field for various
reasons
 Sample JE # 30226
 Demo

22. GP Best Practices
 General Ledger Smart
List Reports
 Alternative is to use
Smart List reports
 under Company 
Financial  Account
Transactions
 Demo

23. GP Best Practices
 General Ledger Smart
List Reports
 * - lists all items
 SEARCH
 Sample JE # 30226 for
account 100-1-72110-
35062
 Demo

25. Debrief/Learning Insights
 Internal Control Recommendations
 GP (Great Pain) Best Practices
 Thank you!