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General Ledger Module
30-Character/9-Segment Accounts Offer
Maximum Flexibility
Account ID's can be up to 30 characters
in length, with up to 9 segments. You can define primary account-number
segments, departments, projects, divisions, locations, etc. Account
ID's and balances can be exported to spreadsheets and text formats.
Segment Definition is Modifiable
You can redefine account segments at any time. They can be added,
lengthened and shortened; segment names, types and sequencing can
be changed; and new major segments can be defined.
52 Definable Fiscal Periods per Year
You can define up to 52 periods for your fiscal year, with options
for defining weekly, monthly, quarterly or other fiscal periods. AccountMate's
General Ledger also includes an extra year-end adjustment period.
Financial Report Drill-Down
You can reconcile General Ledger statement information with balances
in subsidiary modules by drilling down on the amounts in the Income
Statement and Balance Sheet to find their composition shown in the
General Ledger Listing. From the details of the account balance, you
can further drill down to view the source batch's posting entries,
and ultimately drill down to a report showing the source transaction
details.
Through this feature, reconciliation of the major general ledger account
balances with the balances shown in the subsidiary ledgers (i.e.,
Customer, Vendor, Inventory, Sales, and Purchases) can be done with
ease and flexibility. (Note: This feature does not work with Fund
Accounting Companies.)
Fiscal and Posting Period Control
You can define a company's fiscal-period date ranges and the beginning
and ending dates of its fiscal year. In addition, a Posting Period
Restrictions function provides the ability to cut off the transfer
of data to any period in the general ledger from specified modules.
This protects the restricted period from further changes when a final
statement is being prepared for the period.
Automates Segment Account Descriptions
AccountMate automatically copies all segment descriptions to the account
description, permitting faster creation of new accounts. For example,
suppose you have three (3) segments. The first segment number is 110100,
with Cash in Bank as the segment description; the second segment number
is 000, with Marketing as the segment description; and the last segment
number is 00, with New York as its segment description. When you create
a new GL Account ID, and you enter 110100-000-00, the system will
automatically enter the description for the new account as Cash in
Bank- Marketing-New York. This default GL Account Description can
be changed to suit your particular needs.
 Account
Period Analysis
The Chart of Accounts Maintenance function provides Period Analysis
capabilities that allow you to view each account's period-change amount
and balance for each period selected and to generate graphs to illustrate
the results of the analysis.
Posting and Allocation Accounts
An account can be designated as either a posting account or an allocation
account. Amounts can be entered directly into posting accounts, or
they can be entered into allocation accounts and pro-rated among the
various posting accounts assigned to the allocation account.
Flexible Account Number Setup
Account numbers can be set up without exiting the current function.
Account ID's can be copied from an existing account segment to a new
segment. Also, accounts can be copied across companies.
General Ledger Does Not Require Closing
of Individual Periods
You do not close individual periods in GL, which enables you to keep
all periods of the prior, current and following years open for posting
of adjusting entries.
Journal Entry Creation and Editing Is
a Snap
Journal entries can be created from scratch or set up from text files,
existing journal entry batches or recurring journal entry templates.
Journal entries can be edited before posting, as well as viewed, printed
and voided after posting. Reversing entries are generated automatically,
saving time and reducing errors.
Easy Posting of Journal Entries to the
Desired Periods
When making journal entries, you can enter just the transaction date,
and the entries will be posted to the corresponding fiscal period.
Flexible Financial Statements Reporting
All financial reports in General Ledger are generated by Seagate Crystal
Reports. With Crystal Reports, you can modify any report to appear
exactly as you desire. Well-designed reports (including Income Statements,
Balance Sheets, Statements of Cash Flow, Budgets and more) provide
the critical information you need to better manage your business.
Flexible Budget Set-up and Import/Export
Budget Capabilities
AccountMate offers multiple sets of budget data. Each set can be configured
for all or a range of posting accounts, in order to review variances
between actual and budgeted amounts. Budgets can be set up individually
or by applying a percentage of existing actual or budget amounts.
Budget amounts can be entered directly into individual periods, or
annual amounts can be averaged over the fiscal periods. Budgets can
be imported from/exported to spreadsheets or exported to word processors.
 Enjoy
Maximum Flexibility in Statement Preparation
Financial statements can be prepared for individual, combined or consolidated
departments, projects, divisions, etc., depending on how account segment
types have been set up. Also, you can elect to show account balances
in period-todate or year-to-date formats.
Generate GL Reports by Individual Segments
in Separate or Consolidated Reports
The Consolidate All Segments option in GL Reports allows you to generate the GL Report
by individual segments into one consolidated report. When the Consolidate All Segments
option is marked, the system will generate one GL Report but each GL Segment is started
on a new page. This option will bypass the prompts for "Next GL Segment [XXX]" when
viewing Individual Segment without consolidation.
Ready for Fund Accounting
When you select the Use for Non-Profit Organization option for a new company, the GL
functions, fields and reports are automatically modified for fund accounting, as follows:
- A Fund segment is added to the Chart of Accounts.
- Report headings, format and contents are modified.
- Additional reports are provided for fund accounting, including a Selective Accounts Classification Report, Statement of Financial Position, Summary Statement Report, Statement of Activities, and Schedule of Changes.
- Any number of Temporarily Restricted, Permanently Restricted and Unrestricted funds can be set up.
- The Retained Earnings account is replaced with fund balance accounts for the three fund categories.
- Option for automatic inter-fund balancing is provided.
- Eight fund types are provided, including General Operating, Plant, Endowments and Restricted.
Other Features
- Maintains unlimited years worth of account balance history.
- Maintains account summary balances as well as transaction history unless purged
from the system during fiscal year-end closing.
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