LEDGER

About the General Ledger

The general ledger is used to test clearing accounts for a zero balance (i.e., quickly look at balances without detail) and to look for unusual entries (e.g., debit entries in revenue accounts or credit entries in expense accounts). It’s a summary of activity by journal, by month, and is primarily used for review and control procedures. It provides nine industry specific charts of accounts and gives you the option of customizing the start-up chart for your company. It is comprised of a general set and a sub set.

Gen Chart (Chart of Accounts)

  • The gen chart is the backbone of your ledger and reporting system. Once setup, it rarely changes
  • In a large company, it is referred to as the “Uniform Chart of Accounts”
  • The gen set can be up to 5 digits with a maximum of 999 accounts
  • You can search by description or number

Sub Chart

The sub account can be up to 12 digits, and there is no practical limit to the number of sub accounts. The sub chart of accounts changes continuously (e.g., new, change, or inactive). You can modify the sub chart of accounts in any function and can limit access to subs using five attributes. You can search by description, number, or string (hyper search). The hyper search looks for a string match in the name or address fields. The sub chart divides into sets for: banks, customers, vendors, employees, fixed assets, jobs, departments, profit centers, cost centers, notes receivable, notes payable, shareholders, partners, funds, worker comp classes, etc. You are limited to 99 sets.

Link

The link defines sets of subs, and it is a prefix to the sub account and a suffix to the gen account.

The linker is what makes single-file design work. The link is used to define structure, not enter data.

The following defines two links:

Link Description
22 Customer
44 Vendor

Links in the sub chart:

Link Sub Description
22 110 ABC Customer
22 130 DEF Customer
22 140 GHI Customer
44 110 PQR Vendor
44 130 STU Vendor
44 140 XYZ Vendor

Links in the gen chart:

Gen Link Description
1400 22 A/R – Trade
1450 22 A/R – Allowance for Doubtful Accounts
3100 44 A/P – Trade
3150 44 A/P – Holding

You have 4 gen accounts and 6 sub accounts, but 12 accounts as follows:

Gen Sub Description Description
1400 110 A/R – Trade ABC Customer
1400 130 A/R – Trade DEF Customer
1400 140 A/P – Trade GHI Customer
1450 110 A/R – Doubtful ABC Customer
1450 130 A/R – Doubtful DEF Customer
1450 140 A/R – Doubtful GHI Customer
3100 110 A/P – Trade PQR Vendor
3100 130 A/P – Trade STU Vendor
3100 140 A/P – Trade XYZ Vendor
3150 110 A/P – Hold PQR Vendor
3150 130 A/P – Hold STU Vendor
3150 140 A/P – Hold XYZ Vendor

Receivables

You can assign 6 gen accounts as receivables, where you track by invoice number. In addition, you can assign 2 gen accounts “by balance,” where they track by balance, similar to a credit card statement.

Payables

You can assign 6 gen accounts as payables, where you track by invoice number.

Report Periods

There is no limit to reporting periods.

The following is a sample set of reports:

  • Daily
  • Weekly
  • Bi-Weekly
  • Monthly
  • Semi-monthly
  • Quarterly
  • Semi-annual
  • Annual
  • Bi-annual
  • Multi-year
  • Decade
  • Etc.

Report Formats

There are eleven report options:

  • Actual vs Actual
  • Actual vs Budget
  • Monthly Matrix
  • Weekly Matrix
  • Period Matrix
  • Consolidation (up to 255 companies)
  • Consolidating (inter-company receivable/payables cross-foot to zero)
  • Cash Flow
  • Report Writer (with definable headers and footers)
  • Custom Report Writer Matrix (using Excel) for graphs and charts
  • Query (dashboard type, quick analysis reports)

You can instruct Plus&Minus to calculate percentages.

In the Balance Sheet, you can select:

  • Over/Under vs Previous
  • Actual vs Previous

In the Income Statement, you can select:

  • Over/Under vs Previous
  • Actual vs Total Revenues.

Basis

There are four different basis for reporting:

  • Cash (A/R and A/P equal zero)
  • Actual
  • Accrual (accrue open ships and receives)
  • Committed (accrue open sales and purchase orders)

Departmental Reporting

You can “mask” for departmental reporting. For example, the profit and loss sub number can be defined as “pppssll,” where p is product, s is sales person, and l is location.

Possible ways of reporting include:

  • Departments
  • Product Lines
  • Jobs
  • Phases
  • Funds
  • Locations
  • Others

Journal Entries

There are various functions available to enter journal entries:

  • Recurring (by month, day, or year)
  • Reversing (into the next day)
  • Forward (future period)
  • Backward (prior period) with retro year re-open
  • Manual

Rounding

You have three options:

  1. Cents
  2. Dollars
  3. Thousands

Other Report Features

Plus&Minus supports a consolidating “Top” company (to record elimination entries), and you can distribute expenses to 255 companies from the “Top” company.

Standard Reports

Plus&Minus generates various reports:

  • Reports: They are not required before running a function and can be viewed or printed by paper or PDF
  • General Ledger: Traditional and Matrix
  • Balance Sheet
  • Income Statement
  • Entry/Edit transaction register (by each user)
  • Journals (Real time, Daily, or History): Detail & summary (by gen account totals, by user, or entire company) and Error Matrix (by user or entire company)
  • Trial Balance/Fluctuations: Generates “lead schedules” for review.  It produces a complete set for review work papers at one time and shows prior period vs current period with an over/under column and per cent increase/decrease.  There are two report levels: by gen and by gen/sub
  • Depreciation Schedules
  • Amortization Schedules: Notes Receivable and Notes Payable
  • Management Reports: Product line, Job Cost (e.g., Prior, Current, Committed, Total, Change Order, Original Budget, Change Order, Total, Over/Under, & of Budget), Department, Fund, and Contract
  • Chart of Accounts: Gen and Sub
  • Detail Ledger: This is every transaction you entered from inception.  There are ten filter ranges you can use to select transactions, and you can drill down to reconstruct entries
  • Analyzer/Flasher: Quick spreadsheet, dashboard style reports
  • Sampler: Random samples for internal audits
  • Drill Down
  • Reconstruction: Shows all transactions used to record an event