AccountMate’s GeneralLedger module givesmaximum control overthe management of allyour accountingtransactions. It isequipped with thenecessary tools andreports to help youcomply with both USGenerally AcceptedAccounting Principles(US GAAP) andInternational FinancialReporting Standards(IFRS). Whether settingup and maintaining achart of accounts,generating financialstatements and reportsor creating journalentries and budgets,AccountMate GeneralLedger provides top-flight power andperformance to help youmanage your financialdata.

General Ledger alsocomes standard withfund accountingcapabilities. Enabling itsfund accountingfeatures addresses notonly the specificreporting needsof the not-for-profitorganization but alsoprovides the toolsnecessary for a detailedaccounting to those whorequire special handlingof the funds theycontribute.

AccountMate 10 for SQL or ExpressGeneral Ledger Module

Multi-Segment Chart of Accounts Offers Maximum FlexibilityAccount IDs can be up to 30 characters in length with up to 9 segments. You can set up segmentsthat represent the major or native accounts, departments, projects, divisions, locations and otherbusiness units. These segments may be set up in your preferred sequence, eliminating therestriction to use the first segment as the major account segment or native account that otheraccounting applications impose.

Chart of Accounts Maintenance – Information Tab

Automate Segment Account DescriptionsAccountMate automatically copies all segment descriptions to the account description, allowingfaster creation of new accounts. The default General Ledger Account Description can bechanged to suit your needs.

Set Up Posting and Allocation AccountsAn account can be designated as either a posting account or an allocation account. Amountscan be manually entered for simple posting accounts or they can be entered for auto distributeor allocation accounts which are automatically distributed among the assigned distributionaccounts.

Flexible Account Number SetupAccount IDs for a new department, division or other business unit can be automaticallygenerated by copying from the existing records. Accounts can also be copied acrosscompanies that have the same GL Account ID structure.

Segment Definition is Modifiable ModulesYou are able to redefine account segments at any time. You canadd new segments, lengthen existing segments and changeexisting segment names, types and sequence. These featuresmake it easy to update the Chart of Accounts as your company’sreporting needs evolve.

User-Defined Fiscal PeriodsCreate up to 52 periods for your fiscal year, with options to defineweekly, monthly, quarterly or other fiscal periods. AccountMate'sGeneral Ledger automatically adds an extra year-end adjustmentperiod to the number of fiscal periods you choose.

Fiscal Year and Posting Period ControlsSet the beginning and ending dates of a company’s fiscal year andits fiscal-period date ranges. You can configure your fiscal year tocover more or less than 365 days. This is a useful feature forcompanies that have the “4-4-5 period setup”. In addition, thePosting Period Restrictions function provides the ability to stopusers from recording transactions that generate accounting entrieswhich will be posted to a restricted period in the General Ledger.This protects the restricted period from further changes in case afinal statement is being prepared for it or its account balanceshave been reviewed or audited.

Financial Report Drill-DownYou can reconcile GL account balances with subsidiary moduletransactions by drilling down on the amounts in the IncomeStatement and Balance Sheet to view their composition in theGeneral Ledger Listing. From the account balance details, you canfurther drill down to view the source batch's posted entries; then,ultimately drill down to a report showing the source transaction’sdetails. This facilitates the reconciliation of major GL accountbalances with your subsidiary ledger balances (i.e. Customer,Vendor and Inventory balances).

Subsidiary Module Transfer ReportThe Subsidiary Module Transfer Report shows all the accountingentries that are posted during period-end closing and transfers ofdata to the General Ledger module. This report provides the samedetailed information that can be found in the subsidiary modules. Itcan be filtered by Period Range to show only the accountingentries that were posted to GL when a specific fiscal period wasclosed in the subsidiary modules. These features make this reporta very powerful tool that can be used to verify the company’s GLaccount balances.

Journal Entry Creation and EditingJournal entries can be created from scratch or imported from textfiles, copied from existing journal entry batches or generated fromrecurring journal entry templates. To further speed up journal entrycreation, entries can be copied from Microsoft Excel and pastedon the journal entry grid. Journal entry descriptions and referencescan be automatically applied to each journal entry line. Journalentries can be edited before posting and can be viewed, printedand voided after posting. Reversing entries are generatedautomatically, saving you time and reducing errors.

Support Multi-Currency TransactionsThe General Ledger module allows recording of journal entries ina foreign currency. It supports posting of journal entries in both thehome and foreign currency for the multi-currency transactionsrecorded in the subsidiary ledgers. It uses the exchange rates

assigned to the currency codes maintained in the system to helpensure consistency.

Flexible Budget Setup and Export/ImportAccountMate supports multiple sets of budget data. Each set canbe configured for all or a range of posting accounts and can beused to identify variances between actual and budgeted amounts.Budgets can be set up manually or by applying a percentage rateto the existing actual or budget amounts. Distinct budget amountscan be entered for individual periods, or annual budget amountscan be averaged over the company’s fiscal periods. Budgets canbe exported to spreadsheets for further computation and thenimported back into the system.

Perform or Schedule Batch Period-End Closing andTransfers to GLFor convenience, the General Ledger module provides the abilityto perform period-end closing or transfer data to GL for a range ofperiods and a selection of modules. It also provides the option toschedule batch closing or GL transfer at a later time (when usingAccountMate with SQL Server Express Edition) or transfer data toGL on a recurring schedule (when using AccountMate with SQLServer Standard or Enterprise Editions) thus making it easy to runthe closing or transfer at the end of a business day.

Supports the Latest US GAAP Reporting RequirementsIn addition to the usual account categories (i.e. assets, liabilities,equities, revenues and expenses), the General Ledger moduleallows you to set up GL accounts that will be reported asdiscontinued operations, extraordinary items or othercomprehensive income. You can designate the equity account towhich other comprehensive income account balances will beclosed at the end of the fiscal year.

There are a wide variety of cash flow categories to choose from.The selected cash flow category is validated against the GLAccount ID’s assigned account category to help ensure that theGL account’s balance is correctly reported in the Statement ofCash Flows.

You can generate the Balance Sheet, Income Statement andStatement of Cash Flows to show data for a single period or a 2-year or 3-year comparative data. Account balances can bepresented in hundreds, in thousands, in ten thousands, inhundred thousands, or in millions of the company’s homecurrency. When generating the Income Statement, you canchoose between the Multiple Step Format and the Single StepFormat, and between the One Statement Approach and the TwoStatement Approach.

Complies with IFRSGeneral Ledger is designed in a way that allows companies toswitch from the US-GAAP compliant setting to the IFRS-compliantsetting at their convenience. During the switch, the availableaccount categories and cash flow categories will be changed tothose that meet IFRS reporting requirements.

Companies that switch to the IFRS-compliant setting cangenerate these IFRS-ready financial statements: Statement ofFinancial Position, Statement of Comprehensive Income andStatement of Cash Flows. The Statement of Financial Positioncan be generated using either the Current/Non-current Format orthe Liquidity Format. The Statement of Comprehensive Incomecan be generated using either the One Statement Approach or theTwo Statement Approach. The Statement of Cash Flows can be

generated using either the Direct Method or the Indirect Method.All three reports support 2-year and 3-year YTD (i.e. year-to-date)comparisons and provide an option to present account balances inhundreds, in thousands, in ten thousands, in hundred thousandsor in millions of the company’s home currency.

Ready for Fund AccountingWhen you select the Use for Non-Profit Organization option for anew company, the General Ledger functions, fields and reportsare automatically switched as follows to support fund accounting:

• A Fund segment is added to the Chart of Accounts.

• Report headings, format and contents are modified for fundreporting.

• Additional reports specific to the non-profit industry becomeavailable including the Selective Accounts Classification Report,Statement of Financial Position, Summary Statement Report,Statement of Activities, and Schedule of Changes.

• Any number of Temporarily Restricted, Permanently Restrictedand Unrestricted funds can be set up.

• Eight fund types are provided including General Operating,Plant, Endowments and Restricted.

• The Retained Earnings account is replaced with fund balanceaccounts for the three fund categories.

• The automatic inter-fund balancing option which ensures theequality of debit and credit entries affecting each fund becomesavailable.

Other Features• For each GL Account ID, view a period analysis showingperiodic changes in the account balance.

• Generate various reports such as the Balance Sheet, IncomeStatement, and Budget Statements for individual, combined orconsolidated departments, divisions, or other business unitsbased on the account segments you set up.

• Maintain an unlimited years’ worth of account balance historythat can be viewed using the various reports that are available.

• Does not require the closing of individual periods.

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© 2018 AccountMate Software Corporation. All rights reserved. Reproduction in whole or in part without permission is prohibited. The capabilities, system requirements and/or compatibilitydescribed herein are subject to change without notice. Contact AccountMate or an Authorized AccountMate Solution Provider for current information.

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