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Accounts, Set-up Account Sets

Starting from the “Accounts Menu”…

  • Click the “Setup” button
  • Click the “Signpost” button on the toolbar
  • Click “Accounts Sets”
  • You’ll then be presented with the following three options…
  • 1. Setup Current Set

    Use this option to edit the name of the current account set, which may be done at any time. You can also use this option to add or remove the standard nominal accounts that are supplied with each type of insurance related system (e.g. “Life” nominals supplied with “Financial Adviser” – see “Accounts, Standard Sets of Control and Nominal Accounts”), though you will not be able to remove active nominal accounts (i.e. that invoices are currently linked to).

    If you use the option to “Add nominals and posting defaults” the system will add all missing ones, but will never over-write any existing ones. If you use the option to “Remove nominals and posting defaults” the system will remove all posting defaults and all inactive nominals, but will never remove active nominals. So to create any missing nominals and also correct your posting defaults, you should use the “Remove” option first, followed by the add option (see also “Accounts, Set-up Posting Defaults”).

    Alternatively you can use the option to “Replace ALL current posting defaults”, which will delete and replace all of your current posting defaults with Durell’s standard set. This is the easiest way of getting guaranteed correct posting defaults, but if you had previously edited any of your old ones (e.g. for sources of finance, like Premium Credit) then these edits will have to be re-entered.

    2. Select A Different Set

    Use this option to switch from one set of accounts to another. Note that it only applies to the user-name with which you’re currently logged in. So for example you might log in as FRED and then use this option to link FRED to the “General Insurance” account set. Meanwhile HARRY, who is a solicitor with Grabbit & Runn, could link his user-name to that set (see “Set-up, Users”), as shown below.

    You can create as many user-names as you like, regardless of your licence, so if FRED for example, sometimes also works for Grabbit & Runn, then he could have a second user-name, such as “FRED (GRABBIT)”, that would be linked to the Grabbit & Runn accounts. Hence simply by logging in with the appropriate name he would know which set of accounts he’s using.

    A single Durell system can be set-up so that groups of staff get to use different aspects. For example a firm of solicitors might use “Office Manager”, with associated departments using “Mortgage Manager”, “Financial Adviser” and “General Broker” (see “Overview, Product Overview”). This is done by associating each user-name with one of the versions of Durell (see “Set-up, Users”). Similarly each user-name can be associated with a different set of accounts, as described above, so for example, all of the “Financial Adviser” users might be linked to the accounts for a Life & Investment company, while the “General Broker” users are linked to an entirely separate set of accounts.

    Having clicked the “Accounts” button on Durell’s “Main Menu” you’ll be presented with an “Accounts Menu”, with the name of your currently linked set of accounts displayed in the top centre of the screen (e.g. Grabbit & Runn Ltd), along with the name of the computer sub-folder containing those accounts (e.g. ACCOUNTSET1), which will be a sub-folder of the overall Durell data folder, typically called IMW-DATA (e.g. F:\Imw-Data\AccountSet1).

    Account sets can also be used for different periods of one or more years, as described in the section below, e.g. “Grabbit & Runn 2002”. Should you wish to refer to old accounting data in addition to the current period, you could create two or more user-names for yourself, such as “FRED” and “FRED 2002”, link the various names to different sets of accounts, then run two or more sessions of Durell on the same computer.

    3. Create A New Set

    a) For a Different Business

    Use this option to create a new set of accounts, for example, for a second business. Enter a name for the set, then specify what standard nominal accounts you’d like to start with, which will typically be the essential ones (e.g. Debtors Control, etc, without which the system cannot function) plus whatever ones you require for your insurance related activity, if any. You should also enter the “Financial year start” and first year for nominal totals, which you are advised to set to the year PRECEDING the earliest likely invoice date, to allow for opening balance journals, etc. See also “Accounts, Set-up Financial Year”, “Accounts, Standard Sets of Control and Nominal Accounts” and “Accounts, Nominal & Control Accounts Explained”.

    b) For your Existing Business

    To maintain system speed and reliability you are recommended to start a new set of accounts every three to five years, depending on invoice volumes. To do so simply select “Copy everything from current set”, as shown below.

    This will make empty copies of all of your existing nominal, control and bank accounts, along with copies of all of your automated “Posting Default” procedures, exactly as they were in the old set. It will also re-create all old un-reconciled invoices in full, and bring across the un-reconciled element of all old part-reconciled invoices. These new versions of the invoices will be renumbered starting from 0000001 (because the old system could have already been near its limits), though obviously policy-holder and policy-number details will be as before. The re-created invoices will also retain their ability to “jump” to policies (via internal links), and as far as possible, retain links to corresponding invoices in the other ledger (e.g. for adviser pay-aways, etc), though in many instances the corresponding invoice will have already been settled in the old system, so won’t be present in the new. It will also automatically reset the “First year” according to the earliest re-created invoice.

    With regard to this choice you must…

  • If a General Insurer then transfer any outstanding “transferable commission” in your old set of accounts (see “Accounts, Period End, Transferable”)
  • Perform a “Period End” on the old set of accounts, so that its data cannot change any more (see “Accounts, Period End”)
  • Start your new set of accounts with the option to “Copy everything from current set”, as described above
  • Run the Regenerate routine on the new account set to re-build your nominal totals (see “Accounts, Rebuild Nominal Ledger Totals”)
  • Enter journals, as required, for all of your opening balances (see “Accounts, Journals & Opening Balances”)
  • General Insurance Brokers must also enter a journal between one of the “GPRM - General, Premiums” nominals and the “PLBF - Profit & Loss (brought forward)” control to balance the two GPRM nominals
  • Login to Durell as each of your user names and link them to the new accounts set (see the section on “Select a Different  Set”, above)