User-defined
Chart of Accounts. Each Account may
have and unlimited number of subsidiary accounts. Accounting Detail
for an unlimited number of fiscal periods may be maintained. Allows up to 18
fiscal periods of books to remain open and chargeable. 18 Budget Fields
per account...a budget may represent a month, a quarter, or a year (current,
future, or past). Supports up to 99
departments with consolidation. Prints Monthly,
Quarterly, and Year-to-date Budget Comparisons. Prints new-year
financial statements without closing prior year. Always in balance
with subsidiary ledgers (e.g. job cost or equipment cost) due to a common
transaction data base. Supports
modifiable repeating journal entries. Postings occur in
batches, insuring correct entry. Supports
user-formatted Balance Sheets and Income Statements. No month end
closing required. Auditability
insured due to system assigned Journal Reference numbers. Multiple
Companies with Consolidated General Ledger. Consolidated
General Ledger can be supported through external modules (Lotus, DBase, etc.).General Ledger is the heart of the CONTRACTOR III PLUS system. Transactions are automatically fed from the other modules in the system such as Payroll and Accounts Payable. The system allows the user to define a custom chart of accounts, budgets, and report formats in a most versatile manner. It also automatically supports all standard accounting methods, such as Cash Basis and Accrual (including Completed Jobs and Percent of Completion).
The hassle of month-end closing has been eliminated with CONTRACTOR III PLUS. All procedures necessary for month-end closing are performed automatically by the financial statement printing program.
During installation, department P&L statements (including consolidations) may be implemented. Simply select either the last digit (up to 9 depts.) or the last two digits (10 to 99 depts.) of the P&L account number to specify the department number.
Journal entries may be made using the General Ledger Transaction Entry program. These entries may be listed and corrected if necessary prior to officially posting them to the books. Modifiable batches of Repeating Journal Entries may also be maintained.
Of particular note is the General Ledger's close relationship with Job Costing and Equipment Costing, which share a single transaction file. This unique association insures that Job Costing, Equipment Costing, and General Ledger cannot be out of balance with one another.
Up to 18 budgets may be maintained for any accounting period (month, quarter, or year). These budgets may include past, current, or future fiscal periods. The budget entry and modification process is extremely flexible.
Current account balances including checking accounts may be instantaneously accessed on screen in the check reconciliation module. This module also allows printing or display of check registers for an unlimited number of checking and other accounts that might need reconciliation. After bank charges and remaining deposits are entered, the check reconciliation system allows entry of the numbers of all cleared checks and balances from bank statement. The computer then compares this information to its internal records. If they are in balance, a reconciled list of outstanding checks may be printed.
A General Ledger account consists of a principal account and a subsidiary ledger account. The chart of accounts for principal accounts is entered using the General Ledger module. Subsidiary ledgers, which include Job Cost and Equipment Cost, are entered using separate entry programs in their respective modules.
Any group of adjacent principal accounts in the balance sheet or P&L may be considered subsidiary to an immediately preceding master principal account. These subsidiary schedules are printed independently of other financial statements, the sum of each master account's subsidiaries will automatically appear in the master account on the balance sheet and P&L. None of the subsidiary accounts will appear in these reports.
The General Ledger system maintains a data base structure which includes running trial balances for up to 18 fiscal periods. This data base structure allows instantaneous access to trial balances and transaction detail for any account. In order to insure data integrity, any running trial balance or other information lost for reasons such as hardware or operating system malfunction, may be recreated from the original detailed transactions.
The General Ledger system includes General Ledger transactions detail which may be printed in the traditional summarized journal form or in a form where each transaction made to subsidiary journals (Payroll, A/P, etc.) is listed in the detailed form of the journal.
CONTRACTOR III PLUS includes and extraordinary audit report which allows the bookkeeping, accounting, or auditing staff to specify search criteria for printing desired transactions.
You can request specific information by submitting information about your business needs. We will then be able to address your software requirements more accurately.