Ledger Postings
When used in conjunction with other Crown Software modules, postings from these modules are recorded automatically into the nominal ledger. Batch entry of manual journals ensure that all postings are self balancing and full amendment facilities allow rectification of errors prior to posting. It is not possible to post one-legged journals therefore dump or suspense account facilities are not required. Postings may be made into future accounting periods, even around the year end. All posting batches must be audit listed before the system will allow posting to take place and any potential errors will cause the system to inhibit processing of a batch pending its correction.
Currencies
All nominal information may be viewed in Sterling or Euros, if required.
Recurring Journals
Recurring journals can be entered for posting as they become due. Pre-payments and accruals can therefore be created once and will be posted over the defined number of periods with no further intervention from the accountant. Should the recurring journals require adjustment, they can be amended either at the time of posting if the adjustment is a one off or they can be amended in the recurring journal file effecting a change for the rest of the journals’ life.
Reducing Journals
Journals which apply to multiple periods may be posted which automatically reduce the balance over a selected number of periods.
Code Structures and Periods
The number and length of the accounting periods are defined by the user allowing total flexibility of period end definitions. Nominal account code structures are also defined by the user, allowing up to sixteen characters/digits to be defined and formatted at the user’s discretion. Accounts may easily be located by the code, name or word lookup table.
Automatic Reversals
Posting facilities exist to allow a journal entered into one period to be reversed in the ensuing period thus allowing for year end adjustments to pre-payment and accrual accounts whilst ensuring those values are reinstated once the year end reports are finalised.
Budgets and Spreadsheets
Up to four data sets for budgets or forecasts may be prepared for each nominal account code, allowing targets and interim budgeting to be fine tuned. Nominal ledger budgets and actuals can be downloaded into spreadsheet compatible interface files using the nominal ledger report generator facilities to allow "what if" questions and other spreadsheet manipulations to be performed by management. |
Reports
The only standard reports produced by the system are the batch audit lists and the nominal ledger trial balance. Whereas the trial balance may be produced for a range of accounting periods, the actual layout and content are pre-defined. All other requirements are produced by the nominal ledger's report generator. In this manner, balance sheets, trading accounts, cost centre analyses and other management reports can be produced by the user for their specific needs. The report generator allows a sophisticated combination of line headers, indenting, totalling, and arithmetic to be performed on current period and year to date actuals and budgets, as well as any prior year’s figures.
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