| 132 Virginia Ave, Hawthorne, QLD 4171 |
| Phone: 07 3395 7733, Fax: 07 3395 7732 |
| http://www.lennox.com.au eMail: doug@lennox.com.au |
| Traditionally a General Ledger system is a small
separate debit/credit ledger system used by
accountants for the data-entry and reporting of a
financial nature - profit or loss, balance sheet and tax
return presentations. In a LILAC database, the General Ledger is not separate, it is the framework and reporting system encompassing all the other LILAC accounting modules. This means that data captured automatically during the operation of other modules such as Sales Order and Invoicing, Purchasing, Creditors and Stock Control - is immediately available for financial reporting purposes with no further effort. So for example an individual debtor's account is treated as a sub-account, within the debtors control account, within the balance sheet, within the General Ledger. |
| Integration |
| Flexible Chart of Accounts |
| The Chart of Accounts documents allows codes,
names and attributes of General Ledger accounts to
be entered and maintained. The chart of accounts is automatically created where necessary but user-extensible as required. Any coding scheme up to a maximum of 12 alpha-numeric characters is permitted, and any pre-existing coding scheme can usually be accommodated. Where a new scheme is to be defined users are encouraged to use meaningful alpha codes like SALES, ADVERTISING, etc. rather than numeric codes. There is provision for the recording of another external coding system in parallel with the LILAC codes e.g. a Solution 6 numeric coding scheme which may be in use by an external accountant. The LILAC General Ledger is a comprehensive, fast easy-to-use general accounting and financial reporting tool. |
| Bank Reconciliation |
| A comprehensive bank reconciliation procedure is built into the LILAC General Ledger module. The CASH AT BANK account is maintained as a mirror of the businesses account with it's trading bank. When bank statements are received, the operator simply enters the page number of the statement page on which an item is presented. A bank reconciliation report then becomes available which is easily reconcilable with the bank statements. |
| Financial Reporting |
| Profit or Loss, Balance Sheet, Trial Balance, Audit Trial and Ledger Detail Listings. Single Entity and Consolidated Reporting. |
