General Ledger (GL)

In the Accounts Receivable Module and Accounts Payable Module, as well as from within the Inventory / Job Costing Module that internally link to them, when you enter financial transactions normally using forms like sales and receipts, and through automatic processes like Auto Bill or Auto Draft, these financial transactions may be set to automatically populate your General Ledger financial statements and reports - in the background - as they are entered in their respective modules.

• Many accounting systems require a two step (or more) process that requires an entry, a review process, and then a posting procedure to finally get financial transactions into their General Ledger, this is not the case with the our General Ledger Module.
• All financial transactions (sales to subscribers, invoices from vendors, receipts, checks, etc.) are immediately entered in "real time" into the General Ledger's transaction file - at the time they are made within the subordinate module - in the background - and requires no additional effort on the part of the user making the entry.
• No additional "posting" steps are required.
• Once started, NO General Ledger experience is needed by your Accounts Receivable, Job Costing & Inventory Tracking, and Accounts Payable clerks.
• Among the key advantages of this methodology is:
  • Reduced Work - Financial transactions are posted to the General Ledger transparently.
  • Simpler Procedures - No additional steps are required compared to using the modules without the General Ledger being active.
  • Audit Trail - Automatically tracks any "adjustments" that have been made subsequent to making the initial entry.
  • Account Balances Always Current - General Ledger account balances are always posted (and viewable) up to the minute.
• You'll have real time posting in the background because this is a completely, and seamlessly, integrated General Ledger Module.

Reporting Capabilities

• Balance Sheet - for reporting asset. liability and equity balances.
• Chart of Accounts - lists each account, it's category (Asset, Liability, Expense, etc.), Groups, and Departments.
• General Journal - lists any manual transactions that have been made for the date(s) you specify.
• General Ledger - listing of your complete Chart of Accounts with all their balances.
• General Ledger Detail - listing of your complete Chart of Accounts with entry detail for all of the balances for the date(s) you specify.
• Profit & Loss - (sometimes called the Income Statement) compares revenue to expenses.
• Transaction File - a detailed listing of all debit and credit transactions - selectable by transaction date(s) and account(s).
• Trial Balance - for preliminary analysis of a month's transactions prior to closing that month.

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