The Solution-IV® General Ledger accounting software package is the foundation of the Solution-IV Accounting product line. General Ledger is where the transactions from the other packages, if you are using them, are brought together to give you a detailed picture of your overall financial condition.
General Ledger helps you track and control your business expenses, analyze budget controls, set realistic growth goals, accurately record your financial information, and print financial statements.
Features
Parameterized
The system parameters allow you to customize the General Ledger package to your needs without requiring program changes. The parameters include the size and format of your account codes, whether or not you use locations and/or departments, and the ending dates for each period in your fiscal year.
Account Numbers
Your General Ledger accounts may use up to fifteen alphanumeric characters divided in up to four segments; each segment may define account numbers, departments, and locations.
Fiscal Year
Your operating year may be divided into as many as thirteen accounting periods. These periods do not have to end on the end of the month, nor do they have to be of equal length, allowing you to use the system no matter how your fiscal year is structured.
Departments/Locations
Both departments and locations may be maintained which may be used to define different profit centers within each company. Financial statements are automatically generated for each department and location.
Future Periods
Posting to future accounting periods and a future year may be done from the General Journal or any subsidiary application without closing the current period.
Prior Periods
Financial statements and other reports may be printed for any period in the current fiscal year, even if the period has been closed. Postings may be made to prior periods simply by reopening the prior period.
Journal Entries
Journal entries may be made as needed. A 150 character message is included to describe the entire entry, along with 40 characters for each transaction line. The entry may be optionally reversed in any future period automatically.
Recurring Entries
Any number of recurring journal entries may be maintained.
Allocation Entries
The balance of an account may be completely distributed on a percentage basis to a group of other accounts. This is useful for allocating costs to various profit centers based on utilization or sales.
History
Four years of history are automatically maintained for each account.
Budgets
Four types of budget information (last year, initial this year, revised this year, and next year) may be maintained for each account. During year end processing, this year's initial or revised budgets may be rolled to the new year.
Detail Information
Detail transactions from every posting in the system, including other Solution-IV applications, are maintained in the General Ledger. The detail report may be printed by period, account, transaction type (source journal), or transaction number. The detail may be kept for the entire year or selectively cleared as part of the period end processing.
Account Inquiry
Within account maintenance, you may look up the activity, balance, and transaction history for any account, as well as maintain any of the budgets.
Trial Balance
A trial balance is provided showing a summary of the activity in each account for the period. A worksheet format is also available as a form to create your own entries.
Financial Reporting
Financial statements are automatically generated by the system with no additional setup required. Custom reports may be created as well. The automatically generated reports include a balance sheet, financial report, and income statements for each department, location, and entire company showing current month, current vs budget, and current vs last year. Multi-company consolidations may be created using selected accounts, a range of accounts, or all accounts. Financial statements may be printed at any time.
Year-End Closing
During year-end processing, income and expense accounts are automatically totaled with the difference posting to the retained earnings account. Transactions for the current year are cleared and the income and expense account balances are set to zero to prepare for the new year.
Reports
General Journal
The General Journal is an audit report showing the contents of your current batch of journal entries.
Recurring Journal
This report shows the selected recurring entries before they are posted to the General Journal.
Allocation Journal
The Allocation Journal shows the selected allocation entries with each account and the percent to be allocated to each account. When the update to the General Journal is complete, the percentages are converted to amounts.
Chart of Accounts
The Chart of Accounts is a list of all the amounts in the system, including account group headings.
Trial Balance
The trial balance may be printed showing the activity for any period in the current year. It may also be printed in a worksheet format, which shows only the beginning balance for the period selected with space for you to write in your own entries.
Transaction Detail Report
This report is a detailed listing of your General Ledger transactions.
Budget Master Listing
This report shows all four budgets for your General Ledger accounts.
Account History Report
This report shows the past four year's history for your General Ledger accounts.
Statements of Operation
Several Statements of Operation are include with the system -- Current Year, Current Year Actuals vs Budgets, and Current Year Actuals vs History. Each report may be printed by department, location, or the entire company. Multi-company consolidations may be printed as well.
Balance Sheet
A Balance Sheet is automatically generated using your chart of accounts.
Financial Ratios Report
The Financial Ratios report shows fourteen of the most common accounting ratios, including the quick ratio, inventory turnover, and debt-to-equity ratio for any period.
Extended Financial Reporting
Using the Extended Financial Reporting Menu allows you to build fully customized financial statements with full line and column control, resequencing of accounts, additional headers and totals, as well as the ability to control font size and portrait or landscape page orientation.
Solution-IV Applications
Other modules in the Solution-IV Library consists of the following:
- Accounts Payable
- Accounts Receivable
- Bank Reconciliation
- Fixed Assets
- Inventory Control
- Order Processing
- Payroll
- Purchase Order
- Prospect Management