The General Ledger serves as your company's financial backbone and it is the heart of the StreamV Accounting System. The GL programs automate the General Ledger accounting functions of your company and provide you with flexible and timely financial reporting.
Fast processing, a transactional design, and on-line updating make the GL highly productive. Journal entries are immediately posted to the general ledger and financial statements can be produced at any time without processing delay. Budget and Forecast amounts can be easily maintained for each GL Account and these amounts can be used to produce comparative reports.
Business Processes that can be performed using the General Ledger system include.
General Ledger Account Maintenance
The General Ledger System allows you to create Account Description and Account Period Records. The account description and the account period records in the system define the GL account structure and control the specific periods that journal entries can be posted to for each account.
Processing Journal Entries
The StreamV General Ledger System allows you to quickly post manual journal entries when it is required. The system also allows you to pull up existing journal entries or stored je templates, in order to process recurring or reversing journal entries.
Reviewing Account Activity
The GL System includes several different lookup programs that can be used to display GL Account activity and journal entry details. These programs allow you to view transactions associated with documents (such as AR and AP invoices) as well as manual je details.
Specifying Budget and Forecast Amounts
StreamV allows you to quickly specify both a budget and a forecast amount for each account balance (each division / department / account / period / year combination). This allows you to quickly display or produce reports of actual vs budget or forecast activity
Producing Financial Statements
The General Ledger System produces standard financial reports including Income Statements, Balance Sheets and Trial Balances.
Specifying the General Ledger Period and or Year
The General Ledger System is used to specify and control the accounting year and period that transactions are posted to.
Closing the General Ledger Period or Year
Programs in the General Ledger allow you to close out the income for each accounting period or year, and to move the ending balance sheet balances for each year into the new year.