Analyze the terms as started below:

WEEK 8

hello all ......how are you?? 
hope you all will be fine during this fasting month...
This week, our task is  we must Analysis the terms in UBS System which is :

(a) Closing Date VS Accounting Period

(b) Add Entry VS Quick Entry

(c) Edit VS V.Edit

(d) Backup VS Restore

(e) Deleting Individual Business Transaction VS Deleting All Business Transaction

CLOSING DATE VS ACCOUNTING PERIOD

Closing Date

-Once an accounting period is closed, no additional accounting transactions may be posted to it. The closing date represents the institution's financial position as of the end of that accounting period. The accounting balances on the closing date represent a period-end measurement that does not change.

-Once an accounting period is closed, it is not reopened. Under extreme circumstances, an institution may request authorization from the Associate Vice Chancellor for Finance & Administration and Controller or his/her designee to reopen a closed accounting period.

-Key in the last day (closing date).

Accounting Period 

- Period means the sequence of accounting month. The 1 period until period 12. Every period refers to different accounting month. It must be based on when is the closing date of that particular business.  If the current accounting year is from 1st January 2011 to 31st December 2011, then period '1' refers to January. If the current accounting year is from 1st June 2011 to 31st May 2011, then period '1' refers to May.

-Accounting period used for which a firm prepares its external or internal accounts. The period covered by financial statements. It usually for internal accounts, it may be a month or a quarter. It used for external accounts normally a period of 12 month.

ADD ENTRY VS QUICK ENTRY

Add Entry 

-method is used to key in double entry is a single transaction entry procedure. When enter debit entry, have to add credit entry (or vice-versa) or in a reserve sequence to complete the double entry concept. This method is very useful when we have more than one debit entry or credit entry. It need to key in both transaction (debit & credit) manually.

Quick Entry 

- is a double transaction entry procedure. When enter one side of double entry, the system will generate the other side of the entry automatically. Then, we just need to nominate a Master Account. Master Account can be any double entry account and it means the account's entry will be handled by the system. It also avoids unbalance debit & credit.

EDIT VS V.EDIT

Edit 

- allow us to edit a transaction at a time. It is slower for transaction editing. It also may edit single transaction only...you need to double click on the transaction when you want to edit then click the button.....

V.Edit 

- It functions allows users to change or edit more than one transaction in a batch at the same window. It is ideal for changing edit multiple transactions in a batch at the same time. It is faster and easier for transactions editing compare to normal 'Edit' function.

BACKUP VS RESTORE

Backup 

-compression of multiple data files from Saga UBS System into one compressed file and transfer the compressed file to floppy or UBS flash drive or hard disk. When doing backup.acc, if we secondary storage device (diskette or UBS flash drive) already have a backup.acc file containing data for another exercise, rename it before run backup. Otherwise the existing backup file will be overwritten by new generated backup file.

Restore 

-Decompress the compressed file from floppy disk or UBS flash drive or hard disk in order to recover back the multiple original data files which shall be stored back into the system. "The function of restore is important when user needs to recover back their information either corrupt or mistake that being done.”

DELITING ALL BUSINESS TRANSACTIONS VS DELETING INDIVIDUAL BUSINESS TRANSACTIONS

Deleting All Business Transactions.

-It also called Clear Files or Generate Sample Chart.  It partially clear or delete all data in the system .

Deleting Individual Business Transactions 

- is clear only transaction and batch titles will be deleted, chart of account, and opening balance shall be remain. delete certain transaction that have been marked (*) ten times.