ARCTIC DATA CORPORATION Suite 201, 1974 Moss Court, Kelowna, BC CANADA V1Y 9L3 Tel: (250) 860-DATA (3282) Fax: (250) 763-2964 Last updated on April 29th, 1999

Home         About Us          Request Information        Contact Us

General Ledger System

The General Ledger System, designed for the UNIX environment, can be used stand alone or can be integrated with Arctic Data's Accounts Receivable , Accounts Payable , Inventory Management , and Canadian Payroll System . The system allows up to 99 clients (companies, departments, profit centers, etc.) to be active. It provides full record locking, which prohibits two users from changing or updating the same file at the same time, error handling, which assists the user with "error messages", and print spooling.

Chart of Accounts

Before using the General Ledger System, a chart of accounts must be set up, and all accounts must be entered. Each account number consists of 7 digits and thus conforms to industry standard accounting practices (4 digit main account number, 3 digit sub account or cost center number). Each account number is accompanied by an account title, or description, account type code (i.e. postable, non-postable, sub-totals, titles, page feed, line feed etc.), format code (i.e. current asset, fixed asset, current liability, etc.), and budget figures for 12 individual budget periods, corresponding with your fiscal year.

Transaction Input

After the chart of accounts has been set up, transactions can be entered. Manual transaction entries to the G/L are selected from one of the following transaction types: cash receipts input (used to enter all income to accounts), cash disbursements input (used to enter cheques issued and their corresponding accounts), and general journal entries (used for journal entries to the G/L). If the General Ledger System is used in conjunction with Arctic Data's Inventory Management , Accounts Receivable , Accounts Payable , and Canadian Payroll , data can be transferred to the General Ledger from these modules thereby eliminating the need for manual entries.

Each transaction is assigned an audit number. Audit number 9999 is reserved for updating year-end entries. All transactions are stored to a monthly and a yearly transaction history file. These files can be printed if necessary.

Recurring Journal Entries

Transactions that occur every month need not be repeatedly keyed into the system. Instead, these transactions can form a file of recurring journal entries. Recurring journal entries can take one of two forms: those that involve the same account and dollar amount each month, and those that involve a single account which is split into other departments on a predetermined basis. Users can specify start and end dates for all recurring journal entries. Prior to month end close-out, the appropriate file can be called up, and the recurring journal entries are automatically posted to the system.

Audit Trail

User-defined and computer generated audit numbers are produced to keep track of each transaction. Out of balance posting is not permitted, thus ensuring full data integrity at all times.

On-Screen Editing and Inquiries

On-screen editing is available for all the journals in the General Ledger System. On-screen inquiries allow instant access to monthly transactions and totals for each General Ledger account. Ranges of transactions may also be viewed on the screen or printed on the system printer.

Reporting

Consolidated and comparative balance sheets, income statements, and schedules allow you to view up to 24 periods of accounting information (the 12 periods comprising the current fiscal year, and the 12 periods comprising the last fiscal year). Schedules provide users with a means to manipulate their report output. For example, a schedule would allow you to view one consolidated total on your balance sheet and income statement; if the detail was required, it could be printed to a schedule. The General Ledger system has 80 available schedules which enable users to report on individual departments or ranges of accounts within each department.

Other available reports include:

Detailed General Ledger Report

The Detailed General Ledger Report is a clear, concise representation of the current or yearly activity in the General Ledger accounts. The report can be printed for all accounts, or only a specific range as required. The report prints the account number and name, begining and ending balances, period activity, transaction detail if requested, and cumulative totals. If transaction detail is not included, this report can serve as a trial balance.

Chart of Accounts Listing

The Chart of Accounts Listing report prints all the accounts set up in the Account File Maintenance Records. For each account, the report prints the account number, title, type of account (i.e. postable, format, etc.), parentheses status (debit or credit balance), format code, and schedule inclusions. The report can be sorted either by account or by department.

Cash Disbursements Journal

For each current transaction, the Cash disbursements Journal prints the account number, audit number, cheque number, amount, date, payee, description, and the net amount of the transaction. It also displays the total entries, debits and credits for the period.

General Ledger Transaction Listing

The General Ledger Transaction Listing prints the details of all current transactions in the system, regardless of origin. Cash receipts, cash disbursements, and general journal entries are all included. For each transaction, the report prints the sequence number, date, audit number, account number, amount, payee, and description, as well as the batch total for all transactions.

Cash Receipts Journal

For each transaction in the current period, the Cash Receipts Journal prints the account number, audit number, amount, date, customer or receipt, and description. Total entries, debits, and credits are also included on the report.

Schedule of Working Capital

The Schedule of Working Capital report prints the total current assets and total current liabilities by type. It then calculates the difference to arrive at a working capital balance. The report is used to monitor the financial position of the company, and to plan future growth, expenditures, etc.

General Journal

The General Journal report prints adjustment transactions for the current period. For each transaction the report prints the account number, audit number, amount, date, and voucher or description. Total entries, debits, and credits are also given.

If Arctic Data's "Arctic File III" software is used, figures from the general ledger can be exported for use in spreadsheets, databases, and word processing systems. Custom reports can also be designed to provide unique financial analysis and reporting.

Spreadsheet Report Generator

The spreadsheet report generator was specifically designed for the general ledger system. It enables users to customize their financial statements. This module's flexibility allows users to create virtually any financial report. All financial data included in the 24 periods of fiscal information and 12 periods of budget information can be accessed by the report generator.

Forecasting scenarios can also be set up, and displayed on your terminal or as a printed report.

Financial Spreadsheet Report Generator

A financial spreadsheet report generator is available for purchase as an additional module to the general ledger system. The financial spreadsheet report generator allows you to access general ledger data from other modules (i.e. accounts receivable, accounts payable, etc.) without having to update the general ledger.

Back to A.D.C.