GENERAL LEDGER

Tour of the Menu Options – This demonstration gives you a tour of the main menu and shows you how it works.

Chart of Accounts – General – The chart of accounts is the heart of the accounting system. How it is structured will affect all aspects of financial reporting. This demonstration shows you how a chart of accounts is put together, regardless of the property type.

Condominium Reserve Funds –  Condominiums have special requirements for dealing with reserve funds. This demonstration shows you how reserve fund revenue and expenditures are handled so that the reserve funds are separate from operating funds but still appear in the financial reporting.

Create a New Account – Learn how to add a new account to your general ledger.

Enter or Edit Fiscal Budget – How to create or modify the annual budget for a corporation.

Create or Edit Automatic Transactions – Automatic transactions are pre-defined General Ledger entries that can be posted each month without the need to re-type each transaction. Accounting activities that are properly accounts payable or accounts receivable work should not be entered here. Automatic transactions should be used for general ledger.

Entering Opening Balances – When taking over the book for a new client, it is almost always the case that a starting position for the general ledger has to be entered for the month in which you will start the accounting. This demos shows you ow to enter these opening balances.

Entering and Posting Transactions – This demonstration shows you how to enter and post transactions to the general ledger. Transactions can be simple two-sided entries or can be a combination of debits and credits that affect multiple accounts.

Preparing the Month-End Financial Statements – Every corporation can have it’s won customized month-end financial statement. This demonstration shows you how to create and control the table that defines what will be included in the financial statement. You will also get a tour of the various print options available to you.

Searching the General Ledger Journal – Learn how to search the journal of G/L transactions.

View Bank Balances – Here is a demonstration that shows you how to find out how much money a corporation actually has in the bank. You will be able to select which bank account to display.

Trial Balance – A trial balance report can show monthly balances, teat-to-date balances, or both.

Transaction Reports – The general ledger journal of transactions can be searched in a variety of ways to generate a report of G/L activity.

Cumulative Transaction Report – Organized by account and month, this report is generally included n an audit package.

Opening Balance Report – This report looks very similar to a trial balance report but shows the balances that start a fiscal period or that were entered to open the books during a fiscal period.

Budget Projection Report – This report shows you how the actual balances on G/L accounts will compare to the annual budget by the end of the fiscal periods. This can be useful for preparing the next budget.

 

 

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