General Ledger Management

Classic Software's General Ledger is a must-have for any comprehensive accounting software package. General Ledger interfaces with all of Classic's accounting applications, including the Check Reconciliation System, and touts the following features:
Accounting
  • Four digit account number that is shared with all or not corporations, departments and/or locations.
  • Custom journals designed to implement direct or indirect interface to any Point of Sale.
  • Spot errors at a glance with unique clearing account logic-- Auditors' dream.
  • Check reconciliation automatically shows "real time" bank balances, maintains single or multiple accounts.
  • Automatic update to check reconciliation for Accounts Payable and Payroll.
  • Lock entire period or a single GL number in audit, or closed status.
  • Allow reopening of a closed period with proper safeguards.
  • On screen list of accounts to select from displays both account name and number.
  • Review entire years history, month at a time with single key stroke to scroll to next or previous months.
  • Profile data associated with "GL account" for each account i.e. entry of chart of accounts.
  • Profile data associated with owners and partner-owners of properties

Journal Entries

  • Easy to use interactive full screen entry program for journal entries. Create custom journal entries.
  • Up to 99 journal entry types.
  • Instant review of journal detail with delete, change and add capabilities.
  • On line editing and forced balance features.
  • Allows for 2 types of reoccurring journal entries.
  • Modify, suspend and delete recurring entries.
  • Allows for accruals with automatic reversal in next period.
  • Allows modem/diskette journal posting from remote locations.
  • Optional overhead allocations.

Budgets

  • Detail budgets for next year and this year by location.
    Revised budgets during the course of the year.
  • User ability to develop separate budget for each property.
  • Report details budget by GL number for each accounting period.
  • Summary of transactions for each revenue and expense account for the period with a comparison to budget.
  • Summary of transactions for each revenue and expense account for the period with a comparison to the same period actuals for previous year.
  • Variances shown in both dollar and percentage terms.

Consolidation Groups

  • Up to 9 group levels may be defined for consolidation locations into a single financial report.
  • Option to assign different fiscal years for "UN"consolidated properties.

Financial Report Generator

  • Nine user defined formats may be defined for Profit & Loss reports.
  • Up to five user defined formats may be defined for Balance Sheets reports.
  • Summarize accounts into on report line.
  • Arrange accounts in any order.
  • Identifies any existing accounts not included in the report formats.
  • Include units or quantities in financial reports.
  • Calculation lines user may specify formulas and methods of calculating totals and subtotals.
  • Use up to 5 levels of subtotals.
  • User has some control over sequential order of accounts.
  • Reports to individual owner/partners.

Profit / Loss Reports

  • Month & YTD compared to last year.
  • Month & YTD compared to budget.
  • Month activity for fiscal year w/YTD.
  • Month activity for last 12 months.
  • Month by location spread sheet.
  • Group by location spread sheet.
  • Current month and YTD.
  • YTD this year compared to last year.
  • Adjusted current period balance for each asset, liability, and equity account.
  • Ability to prepare comparative balance sheets.

Other Reports

  • Journal Entries List.
  • Trial Balance.
  • General Ledger Master (by account #).
  • General Ledger (by format #).
  • Account Activity.
  • Sales Summary by location or Group.
  • Profit Summary by Location or Group.

Contact Us for more information.