General Ledger Construction Software
Precision. Accuracy. Detail. These are the hallmarks of the General Ledger in FOUNDATION for Windows construction software. Information automatically flows into the General Ledger from the Payroll, Accounts Payable, Accounts Receivable, Equipment, Inventory, Time and Material and Unit Price Billing Modules - and job numbers and supporting transaction detail are saved with all General Ledger transactions, so reviews and audits are extremely user-friendly. Flexible reporting offers the capability to drill down from financial statements into transaction detail.
Click to learn more about these highlights of the General Ledger Module:
- Powerful Reporting
- Date Sensitivity and Audit Trail
- Flexible Fiscal Periods
- Job Cost Tie-Out to G/L
- Flexible Account Setup
- Consolidated General Ledger
- Account Budgeting
- Check Reconciliation
- Easy Year-End Transition
A great variety of useful reports are pre-defined in the General Ledger to get you up and running immediately. The same basic format can provide a managerial summary or a detailed analysis. All reports, whether pre-defined or custom, can be run by account, division or job, as well as for any date range, any length of time, and into the past and future.
Some of the pre-defined General Ledger reports include:
- Activity Summary
- Bank Reconciliation History
- Cash Account Reconciliation
- Check Register
- General Ledger Budget
- General Ledger Financial
- History Detail
- Job General Ledger Activity
- Overhead Allocation
- Over/Under Billing
- Post Log
- Trial Balance
- Income Statement
- Balance Sheet
- Statement of Cash Flows
- And many more
Creating customizable financial reports is simple and straightforward with the revolutionary General Ledger DataGenie® report writer. The G/L DataGenie allows you to define a wide variety of financial statements and reports that meet both internal and external requirements, but requires no programming knowledge or understanding of database structure. The simple click-and-drag interface contains tools to define the report headers, rows, and columns. The built-in equation editor facilitates the definition of simple equations, algebraic formulas, and if-then statements. The reports you define can be saved, reused, copied and modified.
Income Statements and Balance Sheets
Formats of income statements and balance sheets are flexible to accommodate your company's reporting requirements. Use the built-in formats or easily define your own using the intuitive General Ledger DataGenie®. Automatic drilldown capabilities allow you to click on a summary row in order to expand it and see the source transaction detail.
Several methods are available for allocating overhead expenses. The General Ledger method allocates all expenses which cannot be directly applied to a specific job using a formula you define. For example, you may base overhead on labor and/or material accounts with a weighted formula which varies by account.
Date-Sensitive Historical Reporting
The detail of source transactions, including posting date and transaction date, are retained by the system. Therefore, reports may be accessed by transaction date, actual posting date, account, division, job, journal, module, and/or transaction number. General Ledger reports may be run for any date range, any length of time and into the past and future to give a snapshot of the General Ledger accounts from a specific moment. For example, you can run an income statement, balance sheet, even a five-day activity report for a date occurring years earlier. This feature is invaluable for company audits.
Complete Audit Trails
FOUNDATION's design is based on sound accounting principles and the understanding that construction accounting revolves around the job. The modules are tightly integrated - including Job Costing and the General Ledger. All posting logs and registers are assigned a unique identifier at the time of posting. This code is printed at the top of each posting log and is attached to the historical record of General Ledger transactions. You have the option of retaining specific information such as vendor number, invoice number, customer number, etc. Customized G/L account settings control the flow of data from the General Ledger to Job Costing. The availability of transaction-source detail allows for the accurate review and auditing of your accounts and ensures that the General Ledger and Job Costing balance.
Because FOUNDATION retains historical transaction detail, there are very few restrictions in defining your fiscal periods. If desired, the General Ledger will allow you to post transactions in prior or future periods, but controls can prevent accidental posting outside a user-defined date range. This feature can streamline the transition to new fiscal periods.
Most users set each fiscal period to a month, but there are no limitations on the date range you define. Flexible controls allow you to leave prior periods open for a time and can even provide a warning when posting outside the current period. Because all reporting is date-sensitive, you can always see transactions that were posted in any period.
Exclusive Job Reporting Detail
FOUNDATION construction software automatically attaches the job number to every income and expense transaction. This unique feature is important because it enables users to extract General Ledger data by job in detail or summary format allowing you to print income statements or trial balance activity by job. Direct burden expenses such as employer FICA, workers' compensation, and union fringes are accurately pro-rated among jobs. The balancing of Job Costing and General Ledger is seamless and automatic. This is particularly useful when tying out your bonding reports to the General Ledger, ensuring integrity and reliability in the job schedules.
Balance to Job Costing
The balance between Job Costing and General Ledger is rigorously maintained by automatic checks performed by each module and a system of reports for validation. When Job Costing and the General Ledger balance to the penny, your CPA needs to spend a lot less time auditing your system, saving you time and money!
All General Ledger accounts are user-definable. This allows you to retain your current chart of accounts in full. Each account may be divided into four subdivisions to account for such entities as regions, companies, departments, districts, etc.
Divisionalized Accounting/Profit Center
The system optionally allows up to four division levels with an unlimited number of breakdowns within each division. Division classifications may include regions, states, companies, departments, districts, etc. For example, you may define two division levels - departments and regions - consisting of ten different departments and four different regions. All reports can be formatted and run based on your predefined divisions. Income statements can be printed for a single division or company-wide for all divisions.
The Consolidated General Ledger option enables organizations that have multiple companies or databases to create consolidated financial statements. This consolidation provides the ability to report on the financial status for the entire organization in addition to each company/database as a separate entity.
The system allows you to budget all accounts for any user-defined date range. Budgets are entered in the same manner as journal entries. Budget reports are available for any date range, any length of time, and into the past or future.
Check reconciliation allows the use of multiple bank accounts - or a single checking account for both Payroll and Accounts Payable. Clearing outstanding checks and deposits is simply a matter of checking off those outstanding items displayed on your screen. Any errors made can easily be corrected with a few keystrokes. Reconciliation reports help determine if the accounts are in balance. When out of balance, an analysis report can be run to identify the source of a reconciliation error.
With FOUNDATION, the year-end closing doesn't slam a steel door on data from previous fiscal periods. The system allows adjustments of entries at a later date, and reporting is available for any date range, even after year end. Closing an account simply clears the account for the coming fiscal year, while maintaining the prior years' data in full detail. All modules provide their own date controls, and you have the option of preventing users from posting outside the current period, or giving them a warning when they do.
What our clients are saying
"At year end, when it came time to close the books and payroll, I was thrilled to find how easy it was with FOUNDATION. I simply had to check a couple boxes to prevent any posting back to the previous year, then close at my leisure. That was fantastic, and it was the first year, for as long as I've been in bookkeeping, that I didn't have to work the holidays."
– Jane Bryant, Office Manager, Cary & Associates Builders, Inc.