General Ledger Menu
The accounting processes in Contract Collector are completely integrated with
the collection functions. The general ledger handles both calendar and fiscal
year accounting and fully supports open item accounting. The system's complete
audit trails and trust accounting are designed to meet stringent auditor
requirements anywhere in the United States and Canada.
Contract Collector features on-line posting of general ledger data. This means
that the system is updated as soon as you enter and save new data, so the
information displayed in windows, pop-ups and printed reports and notices is always
accurate and up-to-date.
With on-line posting, you don't have to remember to run a separate posting
process in order to finalize data from one month or fiscal year before you're able
to enter transactions for a new month or year. And the system also
automatically adjusts for late entries.
Contract Collector offers full flexibility in defining General Ledger
accounts. A separate chart of accounts can be set up for each company as well as the
management company itself, if necessary. Each account maintains an opening
balance, debit activity, credit activity and a closing balance for each accounting
period.
You can also establish a budget for each accounting period. A budget
comparison is then shown on the PROFIT AND LOSS STATEMENT.