NewVision General Ledger

NewVision General Ledger is the central functional area in NewVision software - it is totally integrated with all other functional areas. All general ledger entries are recorded here, and there are multiple facilities for both internal and external analysis. You can produce financial statements- Income Statement, Balance Sheet, and Cash Flow - all following FASB 95 standards. Throughout NewVision Software, department and project codes can be used to indicate the profit center for financial reporting. Within the general ledger, these profit center dimensions can be combined on screen or in reports to provide summarized information or a side-by-side comparison of profit centers.

Budgets

This feature lets you assign budget transactions to each general ledger account in the chart of accounts. For each account, you can assign budgets on a daily, weekly, monthly, quarterly or annual basis. You can also assign budgets by user-defined accounting periods. There is no limit to the number of budgets you can create. Plus, budgets can be created for any number of years into the future. Alternative budgets and revisions of budgets are included. General ledger reports and query screens, where applicable, include budget numbers for comparisons.

Consolidations

This feature allows you to consolidate both domestic or foreign subsidiaries. Different chart of accounts structures can be consolidated into a merged or parent company in a NewVision database. NewVision handles consolidations on a departmental basis, as well as on a project basis. NewVision also handles partial ownerships, different fiscal years and exchange rate issues for foreign subsidiaries.

Account Schedules

Powerful Account Schedules provide you with the ability to design custom financial statements, including user-defined row & column layouts. Additionally, account schedules provide the ability to dynamically view the information on screen with full drill-down and OLAP functionality.

Allocations

This feature lets you allocate recurring transactions to different general ledger accounts, departments, and projects. You can distribute allocations based on percentages, usage, or by specific amounts. You can use allocation transactions in the sales and purchases journals.

Cash Management-Bank Account Management

Bank Account Management allows for tracking of monetary accounts at financial institutions. Balances are maintained in both a local currency and in dollars. Cash receipt and payment transactions are tracked by bank account.

Cash Management-Check Writing

Payroll and Accounts Payable disbursements can be made by printed checks. Controls are in place for check number tracking and voiding checks that do not print property. This granule allows for printing manual checks as well as computer generated checks.

Departments and Projects

Departments and Projects add two additional dimensions to the General Ledger and to any of the other ledgers in NewVision Software. You can assign department and project codes to each transaction that involves a general ledger account, customer, vendor, inventory item, resource, or job.