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AccountMate - General Ledger Module
AccountMate’s General Ledger module gives you maximum control over the management of all your accounting transactions. Whether setting up and maintaining a chart of accounts, creating journal entries and budgets, or generating financial statements and reports, AccountMate General Ledger provides top-flight power and performance to keep you in control of your financial data.
General Ledger also comes standard with fund accounting capabilities (for non-profit organizations). Enabling General Ledger’s fund accounting features addresses not only the specific reporting needs of the not-for-profit company; it also provides the tools necessary to provide a detailed accounting of funds furnished by sources that require special handling of those funds.
Chart of Accounts Maintenance—Information Tab
Multi-Segment Chart of Accounts Offer Maximum Flexibility
Account IDs can be up to 30 characters in length with up to 9 segments. Users can define major account segments, departments, projects, divisions, locations and other business segments. These segments may be set up in the user’s preferred sequence, eliminating the restriction to use the first segment as the major account segment that many other accounting applications impose.
Automate GL Account ID Descriptions
AccountMate automatically copies all segment descriptions to the GL Account ID description, allowing faster creation of new accounts. The default GL Account Description can be changed to suit the user’s needs.
Set Up 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. GL Account IDs for a new department, division or other business segment can be automatically generated based on an existing department, division or other business segment. Also, accounts can be copied across companies that have the same GL Account ID structure.
Segment Definition is Modifiable
Users can redefine account segments at any time. They can add new segments, lengthen existing segments and change existing segment names, types and sequence. These features make it easy to update the Chart of Accounts as the company’s reporting structure evolves.
User-Definable Fiscal Periods
Users can define up to 52 periods for a fiscal year, with options for defining weekly, monthly, quarterly or other fiscal periods. AccountMate's General Ledger automatically adds an extra yearend adjustment period.
Fiscal and Posting Period Control
Users can define the beginning and ending dates of a company’s fiscal year and its fiscal-period date ranges. They can set the fiscal year to cover more or less than 365 days which is a useful feature for companies that have the “4-4-5 period setup”. In addition, a Posting Period Restrictions function provides the ability to prevent recording of transactions that generate accounting entries for posting to a selected period in the General Ledger. This protects the restricted period from further changes when a final statement is being prepared for the period or when the period’s account balances have been audited.
Journal Entry Creation and Editing Is a Snap
Journal entries can be created from scratch or imported from text files, copied from existing journal entry batches or generated from recurring journal entry templates. To further speed up journal entry creation, entries can be copied from Microsoft Excel and pasted on the journal entry grid while journal entry descriptions and references can be automatically applied to each journal entry line. Journal entries can be edited before posting. They can also be viewed, printed and voided after posting. Reversing entries are generated automatically, saving time and reducing data entry mistakes.
Easy Posting of Journal Entries to the Desired Periods
Users can choose to immediately post the journal entry batch just created. The transaction date and reversing date assigned to each journal entry determines the fiscal period to which the entry will be posted.
Flexible Budget Setup and Export/Import Budget Capabilities
AccountMate supports multiple sets of budget data. Each set can be configured for all or a range of posting accounts, and can be used to identify 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 exported to spreadsheets for further computation and analysis, and then imported back into the system.
Ready for Fund Accounting
When users select the Use for Non-Profit Organization option for a new company, the GL functions, fields and reports are automatically switched as follows to support fund accounting:
• A Fund segment is added to the Chart of Accounts
• Report headings, format and contents are modified for fund reporting
• Additional reports specific to the non-profit industry are provided, 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
• Eight fund types are provided, including General Operating, Plant, Endowments and Restricted
• The Retained Earnings account is replaced with fund balance accounts for the three fund categories
• Option for automatic inter-fund balancing is provided. This option ensures the equality of the debit and credit entries affecting each fund. This feature flows through all modules activated for the company
Other Features
• For each GL Account ID, view a period analysis showing periodic changes in the account balance
• Generate various reports such as the Balance Sheet, Income Statement and Budget Statements for individual, combined or consolidated departments, divisions or other business segments based on the account segments users set up
• Maintain unlimited years’ worth of account balance history that users can view using the various reports available
• Does not require the closing of individual periods
• Maintain account summary balances and transaction history until they are purged during fiscal year-end closing
© 2008 AccountMate Software Corporation. All rights reserved. Reproduction in whole or in part without permission is prohibited. The capabilities, system requirements and/or compatibility described herein are subject to change without notice. Contact AccountMate or an Authorized AccountMate Solution Provider for current information.
General Ledger Features
- Multi-Segment Chart of Accounts Offer Maximum Flexibility
- Automate GL Account ID Descriptions
- Set Up Posting and Allocation Accounts
- Flexible Account Number Setup
- Segment Definition is Modifiable
- User-Definable Fiscal Periods
- Fiscal and Posting Period Control
- Journal Entry Creation and Editing Is a Snap
- Easy Posting of Journal Entries to the Desired Periods
- Flexible Budget Setup and Export/Import Budget Capabilities
- Ready for Fund Accounting
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Other Features
About AccountMate:
Since 1984, AccountMate Software Corporation has provided customers with powerful and flexible accounting and business management software. AccountMate provides the most stable and technologically innovative modifiable accounting solutions for the mid-market. The accounting systems are sold by the module which enables customers to acquire the software they initially need and add modules as their business needs evolve. The availability of source code makes this software highly modifiable so that it can be adapted to any changing business environment.
Software That Fits:
AccountMate is real-time, customizable financial and business management software designed to address the needs of small to mediumsized businesses. It takes advantage of the speed of client/server technology and the latest productivity-enhancing tools in Microsoft’s suite of products to help you better manage your business.
This leading-edge application combines the full functionality of our award-winning AccountMate system with the power of Microsoft’s SQL Server. It offers AccountMate users enhanced investment protection for the long haul with superior scalability, up-time performance, stronger data security and software applications.
A SQL database also optimizes the application’s performance so users can experience uniform highspeed performance—no more system slowdown at the end of your reporting period.