Use Costpoint General Ledger to customize your system's charging structure. You can define your own account numbers, segments, and organizational structures and hierarchies. The user-defined account/organization structure can include up to 35 digits, which allows you to tailor your Costpoint structure to your company's needs. In addition, you can use organization abbreviations to establish as complex a structure as you need, yet at the same time streamline your data entry through the use of a simple abbreviation.
There are also two user-definable "reference numbers" of up to 20 digits each, which you can use as needed for virtually any type of matrix reporting structure, or to capture additional transaction data for use in Costpoint or in other systems.
In Costpoint General Ledger, you can maintain multiple user-defined financial statement presentations for balance sheets, income statements, and statements of cash flows. Other summary or detailed reports are available by organization, alternate reporting structures, reference numbers, or financial statement line; these reports include the Trial Balance, Project and General Ledger Detail, and G/L Posting Summary. Some reports are also available by "reorganization," a user-defined alternate organization structure. Use project reports to see General Ledger information consolidated at the project level. Use trend reports to print any financial report for any level of your organization, for comparison of time period actual versus budgeted costs, using budget information established in the budgeting screens. These reports offer you numerous options for printing your financial information.
You can set up Journal Entries with specific recurring or reversing information for each entry. Use the recurring or reversing capability to establish a "cycle" for each recurring entry (e.g., monthly, quarterly, etc.), or to specify the future period in which a reversing entry should be made. This process will streamline regularly occurring entries by eliminating repeated manual entries.
If your firm's accounting operations policies include segregation of duties, perhaps to comply with the Sarbanes-Oxley Act of 2002, or your firm has otherwise decided to require that journal entries be approved, you can set up an internal process for approving journal entries.
Bank reconciliation functions are also available in the General Ledger. You can easily reconcile bank accounts and print the related reports in Costpoint. Costpoint can also evaluate intercompany transfer activity, and create "Due To/Due From" journal entries for you at the balance sheet level.
Costpoint General Ledger contains numerous features that give you control of your accounting system. You determine which organizations can charge to specific accounts and when those accounts and organizations "expire;" you establish how many accounting periods can remain open simultaneously; you determine a data-entry cutoff by setting certain accounting periods, or certain modules within a single accounting period, to a Not Available status.
Use Costpoint General Ledger, in conjunction with the rest of the system's modules, to get the flexibility you need to operate efficiently in today's business environment.