The General Ledger module is a full featured multi-company financial accounting system. It can stand by itself or integrate with the other ABECAS® modules. If integrated, it provides the accounting structure for each of these modules. In turn, these modules generate accounting transactions that update the General Ledger, as appropriate. This allows up-to-date reports to be displayed at any time. If the General Ledger is not present, then the General Ledger Codes module provides the accounting structure for the other ABECAS® modules.
The ABECAS® General Ledger integrates with the ABECAS® Cost Accounting module so that both modules are simultaneously updated from the same transaction ... in all modules. The Cost Accounting module is a complete "Activity Based Costing" system that allows the accounting information to be managed in more detail. The resulting management reporting is powerful and critically important in cost sensitive businesses and comes with very little additional effort.
The ABECAS® General Ledger concurrently provides both accrual-basis and cash-basis financial accounting. Both sets of General Ledger accounts are automatically maintained and you select which to use in the financial reports. All transactions throughout ABECAS® are maintained by "batch" in an historical transactions file. This provides a detailed audit trail behind the changes in the account balances in each fiscal period. The accounts, along with the transactions history, may be maintained for as long as you desire. Reports are available that take advantage of this history.
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