General Ledger

Whether you own just one company or several companies involved in one or several business areas, you know that the general ledger is the foundation of your accounting system. The general ledger incorporates information from all sources, eg purchasing systems, sales, point-of-sale, payroll and many others, and presents it in a coherent, easily accessible format for analysis purposes.

APP-E.COM is an ingenious solution because it provides you with a simple-to-use, highly functional and secure general ledger that gives you full cost control.

How does APP-E.COM do this?
By combining its range of services with the valuable resources of MAESTRO400 software functions, which have been used successfully for ten years in North America by firms of all sizes in all business sectors.

Built to meet all of your requirements, APP-E.COM General Ledger provides you with many functions, remarkable flexibility and real-time integration with other modules.

The following are various functions provided by APP-E.COM General Ledger.
1. Tailors all financial statements to your business set-up.
2. Records statistical data based on accounting entries.
3. Records and posts entries over to sub-ledgers special journal.
4. Automatically generates inter-company accounting entries.
5. Defines general ledger periods to suit your requirements.
6. Multiple tax and multiple currency code.
7. Multiple bank account management.
8. Quick, easy recording of transactions in the general ledger.
9. Analysis of G/L account.

 

 

1. With this function, you can:

Produce standardized financial statements in order to:

  • compare ratios of businesses in the same market;
  • consolidate financial reports;
  • carry out detailed comparative analyses of collected "benchmarking" data;

Quickly be up and running when a new subsidiary is opened or a company is acquired.

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2. You can include non-monetary data in journal entries in order to produce management reports that include performance ratios.

For example:

  • sales per square foot
  • sales per number of hours worked.

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3. With this function, you can:

  • Track leasehold improvement costs for an existing business or the set-up costs of a project without having to create new accounts that would complicate your financial statements;
  • Track each employee's expense account;
  • Record goods costs in order to monitor amortization expenses and depreciation.

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4. With this function, you can distribute an expense on an invoice among your related companies. The software automatically generates inter-company accounting entries, which simplify and speed up the preparation of balance sheets and consolidations.

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5. You can define your accounting periods according to parameters in your industry.

For example:

  • 12 periods of 4-week/4-week/5-week cycles,
  • 12 variable periods,
  • 13 periods of 4 weeks each.

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6. This function will facilitate and simplify accounting for your businesses with operations in Canada and the United States. Processing of taxes and foreign currencies will become child's play.

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7. You can set up the number of bank accounts that suits you best.

For example:

  • a single bank account for all your companies;
  • a separate account for each company;
  • an account for payroll and another for operations;
  • a current account, a savings account and an account for all escrow fund deposits.

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8. General journal entries
You can record entries along with a general description and a description of each item.

Carry over of entries from Microsoft Excel software to APP-E.COM. You can enter up to 999 lines per entry.

Recurring and allocation entries
This function allows you to define journal entries that will be posted automatically at the end of an accounting period.

For example:

  • breakdown of overhead costs based on the value of various general ledger accounts; for example, the allocating of marketing expenses based on monthly sales ;
  • breakdown of annual costs per accounting period.

Data coming from cash registers is automatically entered in the cash-receipts journal.
This function links the point-of-sale system to the accounting software and will automatically record receipts and disbursements in the general ledger at the end of each day.

Bank reconciliation per folio
This function will allow you to keep bank items at the same level as the bank account balance. You can easily follow changes electronically or manually.

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9. This function will allow you to use various analysis methods, eg:

  • Actual only
  • Actual compared with budget
  • Budget only

in order to analyse account, groups of accounts (for example, all sales items) of a business or group of businesses. This function will also allow you to drill down to a transaction posted to an account as soon as it is entered.

For example:
You begin by analyzing the gross margin of all your businesses. You can go on to examine accounts that make up the gross margin of each business. Then, without having to leave your screen, you can analyze each transaction that was posted to the expense account and obtain the answer you need. You can proceed in the same way from any financial report.

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