BookManager’s accounting and general ledger routines allow you to track all of your business’s financial activity, produce reports and track expenses. The BookManager GL is tightly integrated with other parts of the program. Detailed financial statistics can be generated without the need to input tons of numbers, as certain areas of BookManager automatically post transactions to the GL.
Unlike the A/P where you need only a basic sense of debits and credits to track invoices and pay suppliers, BookManager’s GL is essentially a full program of it’s own loaded with a ton of capabilities. We suggest only tackling the General Ledger if you have an accounting background or firm grasp on accounting principles. The General Ledger requires the store to inialize it as of a certain date (usually your year end) and to create an opening balance to start from.
BookManager support staff is fully capable in providing answers to technical aspects of the system's GL principles; however that being said, we are not registered accountants and as such, cannot supply detailed financial advice. For further questions or concerns about initialzing the GL, please contact us. However, that being said, an accountant generally does not need detailed access to every transaction that occurred over a year. Rather, they need a summary of the year’s activity and documents to support reconciliation of bank statements, payables and receivables. If you are unable to use BookManager’s GL, you are still able access the GL to consolidate monthly activity and then create a report that summarizes the changes during the month.
Features of the GL
- The GL does have the ability to handle the accounting for multi-store locations or additional in-store businesses (i.e. coffee shop, restaurant, etc.) based on a ‘location’ identifier in the program
- Various printing options which include: printing a either a single or a range of transactions; a detailed and date-specific summary of any account Government remittance reports; financial statements; trial balances and monthly profit and loss statements.
- Ability to synchronize some information with a third-party accounting software, by providing the option to export certain transactions to a tab-delim format
- If required, BookManager can print a permanent record of every transaction (likely a few hundred pages) that is useful when making inquiries into expenses