General Ledger and Financial Reporter

Multi segment Chart of Accounts. An Account number is comprised of up to six segments. The standard segments are Financial, Department, Division and Fund. These may be specified in any order and with optional separators. When Job Costing is installed the Job and Cost center segments are also available.

Chart of Accounts setup. The system provides easy-to-use facilities to generate valid Accounts based on combinations of selected segments.

Easy transaction entry. Lookup help for General Ledger Accounts is always available. You can specify a list of common General Ledger Accounts for each transaction Type. These Accounts are presented as you enter each transaction so you can just fill in the amounts as applicable. And you can just ignore any Accounts that aren't involved in that transaction. While entering transactions you can browse through all of them and make any corrections required. Pre-posting listings are available. Transactions are not Posted until your request. You can Post an individual transaction or you can Post a group of transactions.

Transaction importing. Transactions generated externally can be easily imported. All you need to do is insert them into the Import tables of the General Ledger. This may be done by any process that can write to these database tables. Valid transactions will be accepted and removed from the Import tables. Invalid transactions will remain in the Import tables with errors identified so you can easily correct and resubmit them.

12 or 13 accounting periods. AdaptAccounts supports both 12 and 13 period fiscal years. When multiple Companies are installed each Company can have a different fiscal year setup.

Unrestricted actual and budget history. You can maintain as many years of Actual and Budget summary history by Account as you want. You can use the full power of other database query programs for further analysis.

Accrual journal entries. During transaction entry you can specify a Journal Entry as an accrual so it automatically generates the reversing Journal Entry for the next period.

Recurring journal entries. Full support for maintenance and processing of recurring transactions is built-in. It provides a flexible cycle-based approach with protection against transaction duplication.

Reversal journal entries. You can reverse a Journal Entry easily. Full audit trail details are preserved.

Multiple currencies. This supports currency adjustment transactions with currency offset Account support so you can reflect currency effects in Financial Statements without disturbing the original Accounts.

Budget encumbrance support in InterBase/Firebird version. The InterBase/Firebird version enables tracking Purchase Order commitments in addition to actual expenses incurred.

Allocation support in InterBase/Firebird version. The InterBase/Firebird version enables generating allocation transactions using easily maintained allocation control tables.

Table driven Financial Reporter. The Financial Reporter lets you specify titles and account groupings using a powerful, easy to use table-driven approach. Example layouts for Balance Sheet and Income Statement are included. You specify how you want your financial statements to look by filling in the control tables.

Multiple period Financials. Income Statements can span any range of periods within the year. For example, you can produce a quarterly or half-yearly Comparative Income Statement just as easily as for just one period.

Comparative Financials. Financial statements support comparisons with Budget; and to the same period, or range of periods, for Last Year; or to the Final Period of Last Year.

Relational account groupings for Financials. Many traditional systems can only summarize contiguous accounts together. Restricting summaries to just contiguous accounts can cause problems such as when additional accounts are added but there's no room where their related accounts are. Solving this problem with traditional systems often means having to completely renumber the entire chart of accounts. Since AdaptAccounts was designed from the ground up for the modern relational database environment it handles these requirements with ease. So your system isn't limited by the restrictions of the past.

Time independent Financials. You can produce financial statements for any year and period range you wish. You can produce preliminaries and run them again later to reflect subsequent transactions affecting that period.

Easy report changes. All reports are based on a visual report designer so they can be readily changed.