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The General Ledger is the final repository of all transactions that affect company accounts.
The ACOSEAS General Ledger module maintains budgeted and actual information by account, by period – for the current year and previous two years.
It maintains 18 fiscal periods to facilitate P&L reporting prior to close of year-end. Once closed, year-end adjusting entries are forwarded as required and periods 13-18 are converted to periods 1-6.
Important features:
- Flexible account code structure that includes division, department and sub account code.
- Ability to set a common chart of accounts for multiple companies.
- Ability to set up and maintain account codes and associated budget and historical actual data.
- Maintains budgeted and actual information by account by period for the current year and previous two years.
- Ability to set up account allocation tables that allocates amounts in one account to a series of other accounts on a percentage basis.
- Posting function from AR, AP, Purchasing, Inventory, WIP and Payroll modules.
- Ability to set up journal entries for miscellaneous account transactions; journal entries can optionally be set up on a recurring basis or on an automatic reversing basis.
- Year-end processing that clears the P&L accounts, moves the cleared amounts to retained earnings and ages the current and previous year information.
- Detailed logs that maintain an audit trail on all financial and operational transactions.
Sample Reports:
- Chart of accounts
- Profit & Loss (standard / detailed)
- Profit & Loss previous year comparition
- Profit & Loss by job
- Profit & Loss unclassified
- Income by customer (detailed / summary)
- Expense by vendor (summary / detailed)
- Balance sheet(Detailed / stanard / summary)
- Balance sheet previous year comparition
- Net worth graph
- Statement of cash flow
- Cashflow forecast
- Fund flow statement
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