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GENERAL LEDGER FUNCTIONAL FEATURES:
The primary objective of the General Ledger System is to process accounting information in an online environment so that specific procedures can be performed in seconds rather than the hours required by traditional batch methods of computer processing. This system performs the basic accounting and bookkeeping functions by providing a complete and accurate record of all transactions affecting each ledger account and supports either the cash accounting method or the accrual accounting method.
Specific functional features of this online General Ledger System are highlighted below:
1. Maintain General Journal Records on the dollar amounts charged to
various ledger accounts within an accounting period.
2. Automatically assign voucher numbers to each input transaction for
positive control and audit trail.
3. Automatically post voucher information to specific ledger accounts
(Account Master Records) to eliminating clerical posting errors.
4. Print accounting reports, such as General Journal Report, Account
Detail Report and Working Trial Balance, to provide an audit trail
of data entered into the system and to maintain adequate control.
5. Print comparative financial statements (Income Statement and
Balance Sheet) with the statement contents defined by the user.
Historical financial data for as many as 13 accounting periods per
year are stored with each ledger account. Accounting data from
previous years is also available for use in financial statements.
The user has the facility to define almost any type of accounting
report without reprogramming the system, since statements are
defined by Code Definition Records (DB01).
6. Calculate either "percentage change" from the current period over
a prior period or "percentage of total" (sometimes referred to as
common-sized percentages) for the current period in financial
statements.
7. Automatically accumulate dollar amounts for any current or prior
accounting period or any range of accounting periods, so that
financial statements can compare figures from any time period
desired. Comparisons that are possible include current period
this year versus same period last year, year-to-date this year
versus year-to-date last year and current period this year versus
prior period this year.
8. Store revenue and expense budget information on a period by period
basis for use in monitoring actual versus planned expenditures and
calculating budget variances.
9. Automatically create closing journal vouchers for revenue and
expense accounts to facilitate period-end closing. Additional
closing vouchers can be manually entered, if necessary.
10. Provide a summary method of storing period totals at the account
level by period (Account Master Records) for use in quickly
preparing financial statement and financial operating reports for
management analysis.
11. Provide an easy method of defining line items in various financial
statements independent of the account coding structure for maximum
user flexibility. Each line item in a statement is defined by a
separate Code Definition Record (DB01).
12. Provide auxiliary input capability for initial file establishment
and the processing of input created by other computerized systems,
including separate data entry operations.
13. Handle any fiscal year for accounting purposes, even one different
from the calendar year, through the use of a separate accounting
period number (YRMO).
14. Provide online inquiry capability to identify total amounts to a
specific account by accounting period.
15. Provide online inquiry capability to identify all amounts
associated with a specific account or department by month for the
last five years.
16. Provide source document control over input transactions to the
computer by establishing batch numbers.
17. Automatically create vouchers for fixed or recurring journal
vouchers from one month to the next so that data entry operations
are reduced.
18. Define an Active-Flag in the Code Definition Records that define
each account code and department to prohibit current entry of a
code yet reference those codes for historical reporting purposes.
19. Provide the capability to create custom GL reports where the user
defines the data fields to be selected and printed (DB12).
20. Automatically display a detail record (General Journal Record)
when function key F7 is pressed from inquiry procedures GL10 and
GL15.
21. Compute a dollar variance and percent change for the current period
and year-to-date versus the prior year covering revenue and expense
accounts in the Financial Operation Report (GL08).
22. Automatically create reversing vouchers for accruals made in the
prior month to minimize data entry operations.
23. Provide system options in the Company Control Record to handle
6-digit or 8-digit dates for Y2K compliance.
A separate Source-Type code is used to indicate the type of journal
voucher being entered, such as general journal, reversing entry, closing
entry, adjustment, etc. The user can establish Source-Type codes to meet
special requirements as needed.
Since the statements program (GL07) is flexibly designed, statements can be printed at any time and can cover any accounting period range. The account codes that comprise a line item in the financial statement are user defined for maximum flexibility. Statements are printed on letter-size paper with the company heading format specified by System-Option-01.
MORE INFORMATION:
To receive additional information on this online accounting software, please e-mail Bill Legler or go to the General Ledger System page.