OnTarget General Ledger

The General Ledger Module is where the accounting information on you business is entered and maintained. For POS only clients none of this system is available to you. For Full Implementation clients, this system gathers all of the financial transaction information of your daily operations seamlessly, and in the background. It allows you to define how you categorize your assets and liabilities, as well as your income and expenses. It also allows you to define and control the way that your income statement and balance sheet print out. Straightforward and easy to use for small businesses, it has the scalability and power to take care of the largest and most complicated enterprises.

Maintain Chart of Accounts This function allows you to create and maintain the accounts that make up your chart of accounts. You control the account number, description and account type. You can enter budgeting information here as well. A quick snapshot of the activity of the account is displayed here as well.

Maintain P and L Sequence File This function allows you to create and maintain the various profit & loss statements you might want to print. You control the title and sub total accounts. Nine levels of subtotals are supported. You select the accounts that print and the order in which they print. If you have more than one profit center, this feature allows you to create a separate report for each profit center and a consolidated P&L report for the company as a whole.

Maintain Balance Sheet File This function allows you to create and maintain report sequence file for the Balance sheet that you want to print. You control the title and sub total accounts. Nine levels of subtotals are supported. You select the accounts that print and the order in which they print. You link the consolidated P&L report you want to the Balance sheet so that current earnings can be calculated.

Post Journal Entries This function allows you to post miscellaneous journal entries to the General ledger as needed. It keeps a running balance of the entries for the batch and will not let you post a batch that is "Out of Balance", unless the user has been granted sufficiently high security rights for the function.

Query Account Status This function is an excellent tool for analyzing the data in your General Ledger system. It allows you to display the transaction detail for a particular account for a selected accounting period, or the entire fiscal year. It also allows you to display all of the transaction detail for a particular Journal number.

End of Year Processing This function allows you to create a new chart of accounts for the next fiscal year. It also creates the fiscal period start and end dates for the next year and posts the beginning balances for the asset and liability accounts. It may be run multiple times, if required by adjustments to the prior year.

Maintain General Ledger Constants This function allows you to maintain the default values that control the way the General ledger system operates.

Define G/L Account Coding System This function allows you to define a specific account coding system to validate new account numbers when they are created.

Reports This function allows you to print a Chart of Accounts list, Trial Balance, Balance Sheet, Income Statement, and Summary Trial Balance Report.