AccountMate AccountMate’s General Ledger
module gives Software
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AccountMate 7 for LAN Multi-Segment Chart of Accounts Offer Maximum Flexibility
Account IDs can be up to 30 characters in length with up to 9 segments. Users can define
major account segments, departments, projects, divisions, locations and other business
segments. These segments may be set up in the user’s preferred sequence, eliminating the
restriction to use the first segment as the major account segment that many other accounting
applications impose.
Chart of Accounts Maintenance—Information Tab
Automate GL Account ID Descriptions
AccountMate automatically copies all segment descriptions to the GL Account ID description,
allowing faster creation of new accounts. The default GL Account Description can be changed
to suit the user’s needs.
Set Up Posting and Allocation Accounts
An account can be designated as either a posting account or an allocation account. Amounts
can be entered directly into posting accounts, or they can be entered into allocation accounts
and pro-rated among the various posting accounts assigned to the allocation account.
Flexible Account Number Setup
Account numbers can be set up without exiting the current function. GL Account IDs for a new
department, division or other business segment can be automatically generated based on an existing
department, division or other business segment. Also, accounts can be copied across companies that
have the same GL Account ID structure.
Segment Definition is Modifiable
Users can redefine account segments at any time. They can add
new segments, lengthen existing segments and change existing
segment names, types and sequence. These features make it easy
to update the Chart of Accounts as the company’s reporting
structure evolves.
User-Definable Fiscal Periods
Users can define up to 52 periods for a fiscal year, with options
for defining weekly, monthly, quarterly or other fiscal periods.
AccountMate's General Ledger automatically adds an extra yearend
adjustment period.
Fiscal and Posting Period Control
Users can define the beginning and ending dates of a company’s
fiscal year and its fiscal-period date ranges. They can set the fiscal
year to cover more or less than 365 days which is a useful feature
for companies that have the “4-4-5 period setup”. In addition, a
Posting Period Restrictions function provides the ability to prevent
recording of transactions that generate accounting entries for
posting to a selected period in the General Ledger. This protects
the restricted period from further changes when a final statement
is being prepared for the period or when the period’s account
balances have been audited.
Journal Entry Creation and Editing Is a Snap
Journal entries can be created from scratch or imported from text
files, copied from existing journal entry batches or generated from
recurring journal entry templates. To further speed up journal entry
creation, entries can be copied from Microsoft Excel and pasted
on the journal entry grid while journal entry descriptions and
references can be automatically applied to each journal entry
line. Journal entries can be edited before posting. They can
also be viewed, printed and voided after posting. Reversing
entries are generated automatically, saving time and reducing
data entry mistakes.
Easy Posting of Journal Entries to the Desired Periods
Users can choose to immediately post the journal entry batch
just created. The transaction date and reversing date assigned
to each journal entry determines the fiscal period to which the
entry will be posted.
Flexible Budget Setup and Export/Import Budget Capabilities
AccountMate supports multiple sets of budget data. Each set
can be configured for all or a range of posting accounts, and
can be used to identify variances between actual and budgeted
amounts. Budgets can be set up individually or by applying
a percentage of existing actual or budget amounts. Budget
amounts can be entered directly into individual periods, or annual
amounts can be averaged over the fiscal periods. Budgets can
be exported to spreadsheets for further computation and analysis,
and then imported back into the system.
Ready for Fund Accounting
When users select the Use for Non-Profit Organization option
for a new company, the GL functions, fields and reports are
automatically switched as follows to support fund accounting:
Other Features
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