General Accounting Concepts

After you establish your chart of accounts, you can add accounts and process accounting transactions.

Related Topics:

  • Chart of Accounts
    The basis of any accounting system is a chart of accounts, a list of general ledger accounts organized into categories. When you install DPS, you have access to a standard chart of accounts, which you can modify to suit the needs of your enterprise.
  • Accounting Periods
    You can set up accounting periods in DPS based on your firm's accounting cycles and fiscal reporting requirements.
  • Multi-period Processing
    You can process information and review reports in multiple accounting periods at one time.
  • Accounting Transactions and the Transaction Center
    Use the Transaction Center to record daily accounting activity.
  • Accounts Payable
    Use the Accounts Payable application to perform payables-related processing and reporting.
  • Accounts Receivable
    Use the Accounts Receivable application to process and report on invoices that you have sent to clients.
  • Cash-basis Reporting
    The DPS Accounting application is an accrual-based accounting system. However, you also have the option of tracking financial data on a cash basis by using the Cash-basis Reporting feature.
  • Corporate Budgeting Options
    Use the General Ledger Budgeting tool to enter and track corporate budget data. Use corporate budgets to monitor the revenue and expense accounts in your general ledger.
  • Accounting Reports
    To help you manage your enterprise's financial information, you can produce various reports based on the data in your general ledger and subledger accounts. Some of these reports, such as the Balance Sheet, are standard accounting reports. Others provide DPS-specific information.
Parent Topic: Accounting