Install Programs

The following programs are required for General Ledger processing.  These programs and the appropriate data and index files should be installed by Cove Systems personnel.  Most of the General Ledger programs are located on the General Ledger or the General Ledger Utilities Menu.  Some of the reports used to reconcile subledger totals (A/R, A/P, Inventory) to G/L account balances are located on other menus.

Journal Entry - Used to create and post journal entries to the general ledger

Journal Entry Proof - Used to print or display a single journal entry or a range of journal entries.

G/L Journal - Provides the operator with a report on postings to a specific General Ledger account or a range of accounts, and or subaccounts for single or multiple periods.  The program allows the operator to select postings by source, posting date, and or transaction code.  The report can be used to provide a complete hardcopy backup of General Ledger activity. 

Account Lookup - Provides the operator with an easily accessible comprehensive account history for each account in the General Ledger chart of accounts.  This lookup screen provides account activity totals for an entire accounting year by period.  This program also allows the user to view journal activity in detail for an account for a single period

Budget/Forecast Lookup - Provides a convenient way to compare actual General Ledger activity to budgeted and forecasted activity for an entire year.  Also used to enter, edit, and maintain budget and forecast amounts for each General Ledger account.

Maintain Account Descriptions - Used to create, edit and maintain all account numbers and descriptions in the General Ledger.  Allows user to add accounts, set accounts inactive, and create account period records for each account.  This program also allows the user to define the account type and status as well as the sort value used for the account by the system when generating financial statements.  The account numbers and descriptions entered here are used by the system for all divisions and departments.  The accounts entered here may not be posted to until an account period record is created for each period for which the account is to be used.  This account period record is created separately for each division and department.

Account Description Report -  Provides a report of all of the account descriptions that have been entered in the Account Description file.  The report allows the operator to list the accounts in account number, account name, or sort sequence order.

Chart of Accounts Worksheet - Used to print out a list of all General Ledger account numbers with the description for each.  The report also lists the status of each account, the type of each account, the sort sequence, and the autopost number of each account if it has one.

Trial Balance - Provides a report of all of the accounts appearring in the General Ledger with the period or year to date debit or credit balance of each.  Also used to test the accuracy of the ledger by comparing the total debits and total credits to see if they are equal.  An out of balance condition will cause an error message to print on the report.

Income Statement - Produces a formal financial statement that summarizes operating activities (revenue and expenses) and non-operating activities (gains and losses) for a specific period of time, usually a month or a year, and the resulting net income or loss.

Consolidated Income Statement - Provides the operator with a combined summary of revenue and expenses and other gains and losses for a specific period of time for multiple divisions and or departments.  The resulting statement combines the activities of the segments as if they were in fact a single segment.

Comparative Income Statement - Provides a report which shows comparative information on revenue and expenses, and gains and losses  from different periods of time for single or multiple divisions and or departments.  Used to illustrate changes in operating results between the periods being presented.

Balance Sheet - Produces a financial statement which shows the amount and nature of business assets, liabilities, and owner's equity as of a specific point in time.  It is also known as a statement of financial position or a statement of financial condition.

Consolidated Balance Sheet - Provides a combined summary of the amounts and nature of the assets, liabilities, and owner's equity of multiple divisions and or departments of an organization at a specific point in time.  The resulting statement combines the segments as if in fact they were a single segment in order to provide an overall view of the condition of the organization.

Void an Unbalanced JE - Used to void an unbalanced journal entry.  Only unbalanced journal entries should be voided using this program.  Balanced entries are voided by using the Journal Entry program to reverse the incorrect entry in the proper period.

Special Audit - Used to zero out and reconstruct all General Ledger account balances for a single period or for multiple periods.  This program clears all G/L account balances and then rereads each entry to the General Ledger to reconstruct all account balances.

Set Default Year/Period - Used to set the General Ledger system default year and period.

Create New Accounting Year - Used to create account period records for all account descriptions in the account description file that do not already have account period records.  This program would be used at the beginning of a new calendar or fiscal year to create the account period records for the accounts for an entire division or department before posting activity to the new year.

Copy Accounting Year/Div/Dpt - The Copy Accounting Year/Div/Dpt program allows the operator to create Account Period Records (accpers) for a new year based on the accpers that existed in a prior year.  The accpers may be created by division and or by department.

Purge Old Journal Entries - The Purge Old Journal Entries program allows the operator to delete all of the journal entries for a specific accounting period and or year.  A report is produced by the program which lists the journal entries that have been deleted from the system.  The primary reason to use the Purge Journal Entries program is to free up the disk space on which the old journal entries are stored.

Purge Account Period Records - The Purge Account Period Records program allows the operator to delete all of the general ledger account period records (accpers) for a specific accounting year, division, department, account or subaccount.  The Purge Account Period Records program may also be used to delete the account period records for a range of accounting years, divisions, departments, accounts, and or subaccounts.  The Purge Account Period Records program may be used to delete accpers that were created by mistake and that will not be used or it may be used to delete valid accpers (and the prior period account balances stored within the accpers) from the system.  

Year-End Account Balance Rollforward - Used to bring prior year ending balance sheet account balances forward into the current year.  The program creates a journal entry which posts the prior year ending balance sheet account balances to period zero of the current year. 

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Create Divisions and Departments