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GENERAL LEDGER

The core of any business is the General Ledger. This shows the company management the present overall financial situation of the company. It is therefore necessary to have a general ledger that is easy to use and has a range of reports covering the information that is required. In an integrated system the general ledger should be automatically passed all relevant data from the sub-ledgers such as debtors. The other necessity is a flexible reporting facility, based on a multi-element account structure and an easy to use report writer.

Overview

SERENADE'S General Ledger has all of the attributes above with an extensive maintenance and enquiry facility. This is deliberately designed as a 'batch' process so that postings from sub-ledgers can be accumulated in to a total per update per control account and thus keep down the number of detail postings in the main ledger. The sub-ledgers post their entries to an interface file. This is just a collecting file of individual or 'still to be split' postings. This file is take an converted to batches of entries based on Period (one batch may be for only one period) with accumulation by type and account if specified. The main account details hold the period balance, YTD at the period, Budget and YTD Budgte at the period and updates these as the batches are posted. The system allows you to post batches up to one month ahead of the present period. Batches for later periods are held until the G/L is rolled into that period. The system still has 'drill down' facilities so that the total postings in a control account can be displayed and if necessary the system can display the actual (say) invoice that contributed to the total.

Features
  • Multi-element account code
  • Copying of a chart of accounts
  • Deletion of ranges of accounts
  • Retention of the last 25 period and YTD totals
  • Consolidation of distributed (remote branches) ledgers
  • Batch entry of journals and accruals
  • Batch reversal
  • Posting to control accounts in total or by item
  • 'Drill down' from total to posting to document
  • Automatic reversal of accruals in total by account or by item
  • Standing Journals, scheduled entries and balance splitting across accounts
  • Free format reports
  • Graphical output options
  • Budgets with mid-year amendment
  • Detail retained for a variable number of periods
  • Trial Balance and batch listing reports etc.
Account Codes

The account code has 4 elements which can be named as required

The standard names and element sizes are as follows:

Element No.

Name

Size

Type

1

Branch

3

Numeric

2

Department

5

Numeric

3

Cost Centre

5

Numeric

4

Sub-Code

2

Alphanumeric

Notes:The typical names shown above indicate how SERENADE itself regards the elements. However, you can give them any names that are appropriate to your own use.The last element is optional. Since it is alphanumeric, you can leave it blank if you do not use it.

    1. The other elements must be present and must not be zero, as zero has a special significance in the reporting system. (it usually means 'ALL')
    2. Consider carefully how you will use the first two elements, as they can be used to produce selective reports.

Example: The four elements of a particular code could represent:

  • Head Office,
  • Sales Department,
  • Reps cars
  • Vehicle.
Periods

The system is capable of processing a 12 or 13 period year. The format of the period code is the standard for the system. It is not material what period sub-ledgers are processing in relation to the general ledger. The system will retain the postings in batches until the general ledger is rolled to the next period when batches for that period will post. It is optional for batches to be back posted to prior periods (including last financial year). In this instance the year's opening balances may need to be changed which the system will do automatically for you. You will need to reprint any last year reports as necessary.

This back posting facility means that the ledger can be kept up to date with the other ledgers so that the present position of the company is up to date and still have last year end incomplete awaiting the final postings.

Budgets

Budgets may be posted directly to the accounts or may be created on to a work file that is isolated from the accounts themselves. This latter facility allows you to enter next years budgets or create a set of amended budgets but not have them affect the accounts until you specifically post them to the accounts file.

Posting procedure

All postings to the ledger are done via journals in batches. You must have the batch in balance (i.e. nett zero value) before the system will allow it to be posted to the accounts. The posting process will allow you to specify the batch(es) to be posted or will select up to 48 batches that are postable and post them. This latter facility is useful to get batches created from sub-ledgers posted without having to know the batch numbers.

Batches

The same program that is used to create a manual batch of journals can also be used to amend any batches created from sub-ledger before they are posted to the actual ledger. This allows amendment of incorrectly disbursed values prior to posting thus saving having to do a reversal and re-post.

Even batches that have been posted may be view in this facility. This however is a 'view only' option, the batch may not be amended.

There is a facility to create a full set of reversals for a batch to effectively unpost it. If a manual batch has been created in to the wrong period this facility will take it out of the incorrect period. Then if the reversal batch is it's self reversed as yet a third batch you may change the period on this new batch and post it to the correct period.

Batch Listings

All batches are listed for audit purposes when they are posted to the accounts. Therefore, a report is generated even if the batch has no postings. There is a separate report that will list the contents of a batch in account code sequence (with account totals) if it is necessary to get a pre-list.

Enquiry

There is a full enquiry facility. This will allow you to select the account to be viewed and will show you the totals of the 12 periods as the period total and running YTD total as well as the relevant budget and the variance. You may look ahead to see the budgets for the future or view the period totals for the preceding 25 periods. Optionally you may view the actual postings (including any for future periods that have not yet been posted) and view the drill down items for totals and go to the actual ledger posting. You can view the other postings involved in the disbursement of this item. You can view the period values in graphical form.

Debtors and Stock posting

These postings are extracted during the audit trail processing in the relevant ledger and posted to an interface file. You can then create postable batches from this file.

Creditors and Cash book postings

These ledgers also post to the interface file (but directly to it as the value is disbursed at the time the entry is made), so their postings are also included in the batches that you create.

Back Postings

You may post journals into any of the 24 periods maintained by the system. Therefore, you have over a year in which to finish each year's year end processes, while keeping the present period accounts smoothly in operation throughout!

If back postings occur, the system will:

  • Automatically amend the YTD values (to year end) for any postings made to the previous financial year
  • If necessary, amend the opening balance for this year (Asset and Liability accounts)
  • Amend the YTD balance for the current year
  • Automatically generate a reversal in the subsequent period, if you have posted an accrual (see "Accruals," below).

If you back-post to periods other than the one immediately prior to now: Remember that YTD values will now have changed and you should run new copies of all reports for periods after the one to which you made the back posting.

Note: you can inhibit the facility to make postings to the previous year.

Back period reporting

You may produce reports for any of the back periods, including those in the previous year. If these reports refer to a value that is not now maintained, that element will be ignored.

Example: Suppose you attempt to recreate a report showing the situation, say, 18 periods ago. The version of the report that you actually generated 18 periods ago might have shown a comparison with the figures for the period one year earlier, but the recreated version cannot show those figures because the system no longer holds them.

Accruals

If you post accruals to a back pe§riod the system will automatically generate a reversal into the next period. If you post accruals into the present period the reversal will be created in a batch at month end.

Report Generator

You define a report's layout and contents in two steps

  • The width, location, and heading of each of up to 14 columns and what it is to contain. This is referred to as the 'Report Format'
  • The contents of each line.

You can base the design of a new report on one that you have previously defined, copying the original definition and amending it as required. Once you have defined a set of lines, you may use them with any report format.

A column's content may be:

  • An element from the accounts file
  • An off-set total
  • A calculation (value or percentage)

A line's content can be:

  • textual (a blank line, dashes, equals signs, or a section heading);
  • values from a specified range of accounts; or
  • totals calculated from earlier lines.
Runningeports

When the reports are being produced it is possible to use any set of lines with any report format (set of columns). This allows a reasonable amount of flexibility although some combinations will not be appropriate. There is also the options of selecting just a range of 'Branches' or 'Departments' to be included in a report so that each individual 'Branch' can be reported individually and the whole company can be reported.

 

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Serrata Systems & Software Limited
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