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The General Ledger module is a complete measurement application expanded to facilitate Retail Grocery specific functionality such as a five tier Entity Structure, Parent/Child Departments, Weekly and Daily reporting, Inventory Accounting, Transfer reconciliation and Statistical reporting to name a few. Additionally, there are many advanced features such as automated entries, weekly/period pre-close, advanced budget and forecast capabilities, multi-level comment capabilities for all transactions, on-line reconciliation and user-defined history retention. A global calendar is maintained which determines the posting criteria for all modules within the FMS Financial Suite of Applications.
This General Ledger serves as the heart of the FMS Financial Suite of Applications providing complete integration with each module and a single source of data for all reporting functions. The FMS General Ledger completely eliminates re-keying data into different applications and spreadsheets. The Retail Grocery specific functionality and advanced features facilitate the availability of timely and accurate information while reducing overhead and greatly enhancing data integrity.
FMS General Ledger is tailored to your grocery business
Quick access to desired data is made easy within inquiry and reporting; eliminating reading each account to determine the corporation, store or department number. Inquiries can be made for single accounts for all corporations, stores or departments. The Structured Report Writer and the Spread-sheet Interface permit store specific balance sheet accounts in a common balance sheet environment. Inventory balances are maintained either at the Child level or at its corresponding Parent level. Establish statistical accounts (customer count, selling area, coupon counts, Rx count, etc.) within the chart of accounts to facilitate ready access for inquiry, reporting and ratio analysis.
There is no need to print the general ledger as part of closing a period. Historic account balances and transactions are maintained for a user defined number of years.
Budget amounts can be set up and maintained for each income, expense, or balance sheet account within each general ledger calendar. Each account can be enabled for daily, weekly, period, quarterly or annual budgeting. Multiple budgets and forecasts can be maintained within each historic, current or future year.
Maintain retail amounts, cost amounts and gross profit percentages by transaction within the weekly general ledger for purchases, transfers, mark ups, mark downs, inventory adjustments, and journal entries. Measure inbound gross profits, periodic inventory valuations and departmental shrink to facilitate the enhancement of gross profits and inventory control. Reporting is available by transaction, vendor, or department. A retail factor can be entered manually or calculated based on the cost and retail purchase transactions for a specified period of time with or without consideration of a previous inventory count. Collect physical counts based on custom designed, reusable count formats. Physical count adjustments are automatically calculated to correct and post counts that are performed before or after the inventory date.
The Transfer Reconciliation module completely manages inter-department and/or inter-store transfers. The system compares send and receive transfer numbers, cost amounts and dates, then clears correctly matched transfers. Exception reports are provided for all transfers that are unmatched or have errors.
The Structured Report Writer produces operational reports, financial statements, and many types of supporting reports or extracts. The design employs many electronic spreadsheet characteristics that greatly minimize the need for reporting outside the FMS Application. Hierarchies provide a powerful way of grouping stores for reporting purposes. And electronic filing eliminates the need for manual paper-based entries and notes.
The spreadsheet interface imports and exports financial and statistical data between a PC and a host for budgets, journal entry and allocation postings. The comma-separated data format is compatible with most PC based spreadsheet applications.
The system maintains actual and budgeted cost, retail and statistical information for each weekly period for the current and previous fiscal years. The automated recurring weekly entries provide the opportunity to produce very complete, accurate and timely results of weekly operations.