General Ledger

Where the Accounting Comes Together

The General Ledger module summarizes all financial activity. Transaction files throughout the system have the option to update the general ledger account master file.  The account master file holds debit and credit activity for every fiscal period as far back as you deem necessary for current year and prior year reporting. The General Ledger calendar allows you to define your fiscal period. Transactions throughout the system can be added in any open period – prior, current or future. If periods have been closed, prior period entries can be made with user access privilege.

Multiple budgets can be created (i.e. corporate or tax) and used in budgeted income financial analysis. Create one account at a time or automatically from prior period budgets or actual amounts.

General journal transactions can be entered with multiple line descriptions, and can be marked for reversal at the beginning of the next fiscal period. Pre-determined allocation groups will allocate a journal entry or voucher to different accounts based on a percentage. Recurring general journal entries can be established, such as depreciation, for period posting into a permanent general journal transaction.

Financial reporting of any kind – balance sheets, income statements and cash flow – can be defined according to your business needs. Consolidation of statements is easily accomplished in moments. Changing account numbers or making other modifications is easy, with no loss of account activity detail. Gaining historical perspective takes only a few seconds so you can quickly review general ledger accounts or make budget projections using prior year actual or projected figures.

Reports Include

  • Trial Balance
  • Budget Worksheet
  • General Ledger Detail
  • User-defined Financial Statements (i.e., balance sheet, income statement, comparative balance sheet, comparative income statement, budgeted income statement, cash flow, statement of changes and financial position)