Financial Systems

Accounts Receivable

Multi-currency
No monthly closing of the accounts receivable required
Open item cash receipts
Aged Trial Balance, AR Statements and much more...

When setting up customers you specify the currency, thereby setting the currency for their invoices. The Aged Trial Balance Report and Accounts Receivable Invoices Screen allow currency selection, so you can see how much is owed to you in each currency. You set up at least one bank account for each currency. The Bank Book shows transactions and balances for each bank account.

Accounts receivable invoices are not purged when fully paid, but are instead retained for sales analysis reporting.. Accounts receivable invoices can be computer printed or hand-written. Invoices print on plain paper to facilitate faxing and to avoid the expense of pre-printed forms.

The "open item" method is used to apply payments against specific invoices. Adjustments, discounts, and write-offs can be entered when entering the payment info.

Accounts receivable data is passed to the General Ledger software automatically via Journal Vouchers with revenues converted from foreign currency to domestic currency. You can trade globally in multiple currencies while your books remain in domestic currency.

Accounts Payable

Multi-Currency Multi-Bank
No monthly closing of the accounts payable required
Intelligent Payment Management maximizes cash flow
Handwritten or computer printed checks
Open Payables Report and much more...

When setting up vendors you specify the currency, thereby setting the currency for their invoices. The Open Payables Report and Accounts Payable Invoices Screen allow currency selection, so you can see how much you owe in each currency. You set up at least one bank account for each currency. The Bank Book shows transactions and balances for each bank account.

The accounts payable software assigns the (default) due date for each invoice based on the vendor's terms. Intelligent Payment Management is facilitated by an option to "Auto Create" checks for all invoices due for a selected currency. These may later be modified or deleted. Checks can be computer printed or hand-written. The system allows reconciliation of checks returned from the bank and tracking of void checks.

Accounts Payable data is passed to the General Ledger software automatically via Journal Vouchers with expenses converted from foreign currency to domestic currency. You can trade globally in multiple currencies while your books remain in domestic currency.

General Ledger
No monthly closing of the general ledger required
Automatic reversing journal entries
On-line drill-down to source document
Complete year-end processing
User-defined Financial Statements, Trial Balance, General Ledger Report and more...

Data is passed to the general ledger from the AP and AR automatically via Journal Vouchers with expenses and revenues converted from foreign currency to domestic currency. You can trade globally in multiple currencies while your books remain in domestic currency.

Data is keyed directly to the general ledger via Journal Vouchers to record

initial entry of general ledger opening balances
bank charges and interest
depreciation
corrections and adjustments to previous general ledger transactions
purchase of foreign currency
foreign currency AP, AR, and bank balances conversion to domestic currency

Year-end closing entries for the general ledger are generated by the software.