The Universal Accounting Solution controls
disbursements and reports financial position with its three
main modules: Accounts Payable, General Ledger and Financial
- GL distributions posted in as much detail as desired;
- Accrual or cash basis accounting available;
- Inter-company AP and AR may be used.
Vendor Groups and Classes
- Controlled sharing of vendors between companies;
- Vendor info retained for to user-defined periods;
- Payment priorities for cash requirements planning.
- All invoices for a vendor may be held;
- Discount codes indicate payment terms if a discount
is taken or not;
- Government classification of vendors (such as USA
- Bank codes indicate the payable, the bank and the
discount accounts. The currency in which the monies are to
be stored and the foreign exchange clearance accounts used
may also be indicated.
- Invoice batch control supported;
- Facilities support reconciliation of trade account;
- Duplicate invoice entry is prevented;
- Invoices may be reconciled;
- Be inclusive or exclusive of Value Added Tax (VAT),
Goods and Services Tax (GST), and sales tax.
- Charge to multiple company accounts;
- Codes for commonly used GL accounts;
- Invoice information may be changed until its paid;
- A manual payment speed entry is supported;
- Goods received without invoice (GRWI) is supported.
- Can take all discounts regardless of the discount
- Select invoices by due date, bank code or payment
group, by vendor classes;
- A sophisticated form writer allows the user to maintain
their form design as well as their electronic payment format;
- A control number for each payment form and its MICR
number are maintained.
- Payment cancellation cancels the invoice and reverses
- A payment may be cancelled and uncancelled any number
- Payments may be outstanding, cancelled, reconciled,
stale, or held;
- Payments may be reconciled by entering each cashed
payment individually, by using bank reports to quickly reconcile
groups of payments, or by using bank-provided diskettes or
tapes identifying cashed payments.
- ll invoice info, including distribution, is kept
online as long as the user desires;
- Vendor balances, outstanding payables and payments
may be viewed;
- Invoices may be viewed using a variety of criteria,
including tax codes.
- eports suitable for all VAT, GST, sales tax and use
tax reporting requirements worldwide. The system maintains
separate chronological sequences for general ledger entries
and for accounts payable entries by payable code.
| General Ledger
- Intercompany journal vouchers supported;
- Multiple fiscal years may be simultaneously supported;
- Multiple budgets and forecasts may simultaneously
- An unlimited number of previous and future years
may be kept online; both period total information, and transaction
Chart of Accounts
- A GL account may be used for detail accounts, to
store memo information, to specify a heading, or to define
- The default Value Added Tax (VAT), Goods and Services
Tax (GST), sales tax and other use taxes for the account
- A list of expected JVs is kept and enforced;
- The system prevents a JV from being posted twice
in the same period;
- Postings are allowed to the current and future periods;
- Repetitive entries are automated. Each repetitive
entry is defined just once;
- Each posting may be charged to several periods at
the same time;
- Recurring journal vouchers may be entered once;
- The invoice in a prepaid expense may be reconciled
with its distribution over the course of several periods;
- Comprehensive integrated Excel interface.
- Budgets may be entered manually or calculated using
a modeling package;
- Budgets may be uploaded to the system from PC’s.
Information may also be downloaded to PC’s.
Inquiries and Reports
- Transaction details may be kept online indefinitely;
- Transactions may be extracted using a range of criteria;
- They may also be extracted based on VAT, GST, sales,
and use tax contributions.
- The system may accumulate information for any period
of time (monthly, weekly and daily);
- Statements may be produced for any year for which
information remains online;
- Budget, forecast and historical information may
be readily intermixed;
- Any sort of balance sheet or profit and loss statement
may be produced. Trends of operation, sources and uses of
funds and statistical reports are also easily produced;
- Any sort of ratios may be calculated;
- Multiple currencies may be freely intermixed. Currency
conversion at either book or profit and loss rates is supported;
- Statements may be viewed on screen