General Ledger Features:

The primary objective of the General Ledger (GL) System from Legler Systems 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 GL System performs the basic general ledger objectives by providing a complete and accurate bookkeeping record of all transactions affecting each ledger account and supports either the cash accounting method or the accrual accounting method.

Specific General Ledger features and objectives are highlighted below:

1. Maintain regular General Journal Records with a Source Type code of "GJ" 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. This general ledger feature can be overridden by the setting of System-Option-16 (DB03).

3. Automatically post voucher information to specific ledger accounts, defined by the Account Master Record 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 in the General Journal Record (GL01) and to maintain adequate financial 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 in the Account Master Record 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 (a) fixed journal vouchers (procedure GL14) with a Source Type code of "FJ" and (b) recurring journal vouchers (procedure GL12) with a Source Type code of "RV" from one month to the next, so that manual 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 (procedure DB12).

20. Automatically display a General Journal Record when function key F7 is pressed from inquiry procedure GL10 and procedure GL15. This general ledger objective enables the operator to quickly drill down to more information.

21. Compute a dollar variance and percent change for the current period and year-to-date versus the prior year covering revenue accounts and expense accounts in the Financial Operation Report (procedue 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.

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-12 (DB03).

General Journal Record:

The dollar amounts charged (debit or credit) to various GL account codes is recorded in General Journal Records for a specific accounting period. Menu procedure GL01 is used to add, change (modify), query and delete General Journal Records. Procedure GL13 is used to import General Journal Records created by other independent sub-systems.

Account Master Record:

The Account Master Record contains dollar amounts for each accounting period (month) in a calendar year by GL account code and department number (optional). Menu procedure GL03 updates the Account Master Record with the current months posting of General Journal Records. Procedure GL19 displays all information in a specific Account Master Record.

GL System procedures that can be run by the user are identified on the General Ledger Menu document.

More Information on General Ledger Objectives:

To receive additional information on this online General Ledger software, please e-mail Bill Legler in the SF Bay Area, California or go to the General Ledger System page.

Version 7.10 - Copyright 2010 by Legler Systems Company. All rights reserved.