Ledger Software
ONLINE Software Labs Ledger module also provides extensive budget and expense reporting capabilities. Cost centers can be defined in a hierarchical tree format that, in turn, provides rolled up budget and expense reporting by cost centers at each level. All of ONLINE Software Labs Ledger applications are fully supported by an extensive assortment of query and reporting capabilities.
The DMACS General Ledger module supports financial accounting by division, and optionally allows you to aggregate all divisional financial statements into consolidated company financial statements.
As each division is established, an accounting calendar for the division must be defined. The accounting calendar provides the basis for all financial reporting. Since all financial activity is regulated by the accounting calendar, DMACS allows each division to have multiple periods open at one time.
Before journal entries can be initiated, ONLINE Software Labs Ledger accounts must first be defined. The chart of accounts can be reviewed on-line during the setup process to verify the print format for the financial statements. Current and historical financial data is maintained for each account.
In order to control manual journal entries, authorized source codes are also established to ensure reporting accuracy. Certain reports show ONLINE Software Labs journal entries by account number and source code to facilitate detailed analysis to resolve any journal entries that may have been posted to an incorrect account.
When interfaces with other DMACS modules are established, journal entries are automatically generated in a summarized form to reduce the amount of unnecessary detail. The details of the summarized entries are already maintained in each of the appropriate subsidiary ledgers. The journal entries can then be posted to ONLINE Software Labs ledger at any time once they have been balanced.
ONLINE Software Labs Ledger module also provides the ability to automatically transfer amounts from one cost center and account or range of accounts to other cost centers and accounts. The system automatically calculates the total amount transferred from the sending cost centers and accounts based on an allocation percentage assigned by the user. In addition, the system automatically calculates the actual amount transferred to each account based on the transfer percentage assigned to the receiving cost center and account.
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