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 drilldown from financial statements into
transaction detail.
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General Ledger Module:
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Powerful Reporting
Ready-to-Use Reports
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
Customizable Reporting
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.
Overhead Allocation
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.
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Date Sensitivity and Audit Trail
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.
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Flexible Fiscal Periods
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.
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Job Cost Tie-Out to G/L
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!
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Flexible Account Setup
User-Defined Accounts
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.
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Consolidated General Ledger
The Consolidated General Ledger option enables organizations who
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.
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Account Budgeting
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.
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Check Reconciliation
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.
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Easy Year-End Transition
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.
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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. |
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