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The General Ledger Module is responsible for all activities related to managing the general ledger. The key features are

All GL transactions are posted in real time to the general ledger. Periods are automatically closed, which eliminates costly batch closings that interrupt business activities. Reopen closed periods or fiscal years. Critical financial reports are always available and up to date. Better data integrity is provided by avoiding large, complex batch postings which tax networks. An alphanumeric chart of accounts up to 24 characters wide and six user defined segments is used.

Create and maintain a chart of accounts using Treevision™, an Explorerlike graphical interface. Drill down on the chart of accounts to

  • Find account balances
  • List the journal entries for a specific account and date ranges
  • View the actual journal entry
  • Instantly reverse or duplicate an entry

Drill up from journal entries to the originating document. Individual GL accounts can be marked inactive to prevent journal entries being made against them. Up to 99 periods in a fiscal year are supported with starting and ending dates for each period. The time during which prior period postings can be accepted before a password is required can be set from 0 to 999 days.

The number of periods in the future that can accept journal entries can be set from 0 to 99. A Period/Year Closing screen summarizes the status of each period and year at a glance and

  • Shows the key financial reports that need to be printed
  • Identifies which reports need to be reprinted due to prior period or year postings
  • Lists which periods or years have been closed

Produce consolidated Income and Balance Sheet reports for any combination of companies on demand. Simple and advanced budgeting, using Excel spreadsheets, is supported. Create budget templates from actual data and maintain multiple budgets for “what if” analysis. Compare actual versus budget for any range of dates.

One single screen handles all default general ledger accounts which greatly simplifies the management of these accounts. Track inventory that is in transit with a dedicated default account.Monitor customer and supplier prepayments using separate default accounts.

Custom general ledger accounts act as rules for establishing which GL accounts to use for a transaction. Rules may be established for any combination of

  • Individual customers, sales group, or for all customers
  • Locations
  • Items, groups of items, or an individual item

Custom general ledger account rules can be tested on a special Inquiry Tab. Account distribution templates speed journal entries by predefining the list of accounts to be used and how the amounts are to be applied:

  • As percents of the amount entered
  • As fixed amounts
  • As distributions to inventory adjustments
  • As supplier purchases distributions

When percentages are used on the account distribution templates, only the total amount needs to be entered for the entire journal entry to be created.

Unbalanced account distribution templates can be saved so that only the amounts needed to balance the journal entry are required. A GL journal entry is completely accomplished using only one screen.

A detailed note can be added to each journal entry to allow for better documentation.

The journal entry screen has forward and backward buttons to page through transactions. A Get button helps find specific entries based on the journal ID, a reference key or the description of the entry.

A Search button permits conditions to be set that will then be used to filter the list of journal entries for only those that meet the search criteria. For example, creating a list of all transactions that were paid to a utility company. Journal entries will

  • Auto balance entries
  • Auto reverse the positions of debits and credits
  • Copy or reverse entries
  • Load predefined account distribution templates
  • Insert new transaction lines
  • Delete existing transaction lines
  • Store unlimited notes that can be added or edited, even after the posting is accepted

Journal entries that are not ready to be released can be saved as “pending” entries then reviewed and released at a later time. This includes unbalanced entries. Auto reversing transactions allow the user to select the date/period that the reversing entry will occur.

Reversing entries are controlled manually and the postings can be edited before they are released.

Rules can be created that will filter certain financial reports based on individual GL accounts and/or account ranges.

Income Statements and Balance Sheets can be run for any period of any year.

Dated Income Statements can be run for any range of dates, which permits daily, weekly, quarterly, semiannual and multi-year statements to be produced.

Compare financial reports for any two periods of any two years. Dated Income Statement comparison report can be run for any two ranges of dates.

The 12 Month Income Statement compares twelve months of performance for any beginning period and year specified. Financial information can be exported to F9 Financial Reporter for further analysis or for budgeting purposes.

Other Applications

The following applications are designed to work hand-in-hand with General Ledger:

"General Ledger" is part of the ALERE Accounting line of products, developed by TIW Technology.

Related Products

The following software product lines are also offered by TIW Technology: