Check for Update problem
Q. I clicked on the "Check for Update" selection on the Help menu within the program and received an error message that the server connection failed. How do I get the update?
A. You can obtain the current version of the program from the website. The Download page on the website always has the most recent version of the program available for download.
How is TotalTrust installed on multiple workstations?
Q. I purchased a multiple user license and downloaded the installation file to a local workstation. How do I install TotalTrust on other workstations?
A. There are two ways to install on multiple workstations.
You can copy or move your one copy of the installation file (named setup.exe) to a network drive and run setup.exe from each local workstation by accessing the network location.
Or, you can download setup.exe directly from the website to each local workstation. Then run the installation program at each local workstation.
Is TotalTrust available on CD?
Q. Is TotalTrust available on CD?
A. No, the latest version is always available for download on the website at http://www.exhibitonesoftware.com/download.htm.
When do I enter a new Key?
Q. I am using the 30-day trial version of the program. At program launch a dialog appears that asks if I want to enter a new Key. What do I do?
A. The trial version has a built-in Temporary Key that allows prospective licensees to use the program free for the first thirty days. There is no need to enter a Key during that period.
When you purchase a license, you are issued a Permanent Key. It is at this time that you will enter the new Key.
So, when the program asks if you want to enter a new Key and you have not been issued a Permanent Key, then respond 'No'.
How do I renew my license?
Q. I tried to do my first renewal but could not log in. I needed a password and the product key code. Help?
A. Go to the "user login" selection found on the main page of the website. On the Login screen, go to "first time?" to set a password. When asked for an email address, use the email address that we have on file.
After your password is set you will be sent to "My Account". Review the contact information that is listed there and make any needed changes.
Then click on "My Subscriptions" to view your license status. You will find there a link to the renew area.
The Product Code is found on the "About TotalTrust" screen of the application's Help Menu. Its is a 19 digit code.
Will I still be able to continue using the program if I do not renew my subscription?
Q. Will I still be able to continue using the program if I do not renew my subscription?
A. Yes, you will be able to continue to use the program even if you terminate your subscription.
Whatever version is current at January 31 will be the product you will use for future. As January 31 approaches, you should make sure to download and install the latest version.
After January 31, your Product Registration Key will deny you access to all new versions/updates and, over time, we will be less able to support you.
Once your subscription is terminated, should you decide later to obtain a newer version, a whole new license will have to be obtained.
Should I close the books?
Q. Please confirm
---that the "close out" of the previous year's accounting deletes all transactions for further use, when starting on the next accounting period
--that if we "save" a backup copy under a new name in the Total Trust program, then transactions can be edited in the saved copy
--that editing the "saved" copy will effect the current "working" accounting, which may then have to be deleted and started over after "close out" of the revised "saved" copy.
A. "Closing the books" does indeed delete all transactions in the closed period. The process results in a zeroing out of the P&L accounts and changes to the beginning balances of balance sheet accounts.
It is customary to make a copy of the current file before closing the books. It is not recommended that the books be closed until you are absolutely certain that no more changes will be needed for the closed out period.
While changes can be made to the file that contains the closed out transactions (backup copy), those changes do not carry to the current file (working file). If an adjustment is required to a close period after the books are closed, the adjustment must be made in the current "working" accounting period.
The system allows you to report on a annual basis without closing the books by using the reporting period dates to control the reports. For the accounts that I do on an annual basis, I wait until the tax return is completed before I close the books, when I know that no more changes can be made to that period. After the tax return is filed, I know that the file is final and I can now close the books.
How do I record a sale real estate from a closing statement?
Q. Could you guide me through recording a sale of real property?
Specifically, how to record item such as note payoffs, closing costs, and taxes deducted from the selling price.
A. Break the transaction into its components.
Use the CR, Classify As = Sale/Maturity/Redemption, to record the gain by posting the proceeds, net of closing costs, and the credit to asset cost. You can detail the closing costs information in the description.
Use the CD/Payment of Liability for the the note payoff.
Use the CD/Expense Paid for taxes and other expenses.
With the possible exception of some of the expenses, these transactions would normally be classified as Principal.
The combined effect of these entries on cash will equal the amount received (or paid) per the closing statement.
How do I show cash transfers between income and principal as receipts and disbursements?
Q. Transfers between principal and income of a checking account and a money market account are shown as the "Gains and Losses on Sales or Other Dispositions" report. I would rather see cash transfers shown as Cash Receipts and Cash Disbursements. Is there a way to do this?
A. The classification of cash transfers may be handled by using normal receipts and expense accounts. Set up a principal income account called "Transfers from Income" and an income expense account called "Transfers to Principal" (reverse for transfers to income). Use CR and CD instead of NC. This will classify the cash transfer as receipts and disbursements.