Accounting – Cashbook, GST, Creditors, General Ledger and Reports

Introduction

Options comes integrated with Banking, Suppliers, General Ledger and Reporting. It manages all of your bank accounts, supplier's payments and profit and loss! There are many advantages in it being fully integrated with the sales/stock module. Options gives your business total financial management.

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Bank Accounts (Cashbook)

Bank Accounts (Cashbook)

  • Options Cashbook is integrated and eliminates re-posting of receipts entered in the sales system.
  • Effective receipt date support, to enable easy reconciliation when amounts received are deposited on different dates.
  • Easy transaction ticking screen for reconciling the bank account
  • Facilities to setup standard recurring postings and lists most commonly used general ledger postings for quick selection
  • Real-time posting of customer receipts to the Options debtors ledger and cashbook.
  • Daily bank reconciliation, clear funds and unpresented cheques.
  • Automatic cashbook to bank statement reconciliation.
  • Summary and detailed lists of receipts and expenses on a year to date or monthly basis.
  • Transaction editing facilities across entire year.
  • Unlimited Bank Accounts.
  • Easy to follow and use for you and your accountant.
GST

GST

  • Full GST reporting.
  • Automatic support of GST adjustments such as settlement discounts.
  • Automatic support of prior period GST adjustments and reporting.
  • Options supports GST tracking using the accruals method.
Suppliers (Creditors)

Suppliers (Creditors)

  • Instant display of your creditors liability at the touch of a button.
  • Handles an unlimited number of creditors.
  • Maintains full creditors details, 24 month history and balance.
  • Disputed transactions feature.
  • Creditors trial balance by age or date range.
  • Cheque and remittance printing which can be tailored to your current stationery.
  • Manual cheque entry if required.
  • Automatic discount calculation.
  • Automatically detects duplicate invoices from suppliers.
  • Print a wide variety of management reports including suppliers purchase history.
  • Creditors statement reconciliation feature.
  • Modify creditors transactions in any period.
  • Modify existing creditors codes.
  • Quick Invoicing option for batch input of similar creditors invoices.
  • Automatic General Ledger code association.
  • Easy retrieval of information to screen or print.
  • Creditor payments may be made via on-line banking with remittances being faxed directly (paperless account payments).
General Ledger

General Ledger

  • Print Profit and Loss Statements and Balance Sheets.
  • Full departmental accounting.
  • Drill down facilities
  • Print management reports by department, cost centre or consolidated.
  • Full multi-company support.
  • Compare actual to budget or prior years figures.
  • Post journal entries, normal, standing and reversing.
  • Measure all revenues and expenses.
  • Print financial statements not only to paper but also to screen or file.
  • Prints both standard and consolidated trial balances.
  • Maintain complete control over your company's total financial reporting.
  • Edit function for journal entries across any period.
  • Print journal batches for auditing purposes.
Accounting Reports

Accounting Reports

Options uses Crystal Reporting for all output. This allows you to output to any device on the network and export to multiple formats including PDF's, Excel and Word. There is a wide variety of pre-defined reports including those mentioned below. Before printing you are able to view print-preview versions of each report.
  • Business Analysis – report with key financial information from the system including stock on hand value, creditors and debtors total balances, new orders and quotes for a period compared to orders and quotes done for existing clients etc.
  • GST Remittance Report – comprehensive gst remittance report that consolidates all system gst information into one report with subtotals per BAS category that can be transferred directly to the BAS. This is normally the only gst report run in the system at the end of your gst reporting period as it details all systems and provides the BAS totals. Note – the system correctly handles all issues of GST including prior period adjustments and discounts taken and given.
  • Bank Reconciliation - bank reconciliation year to date or at a date, including details of reconciled cashbook and bank statement balance, outstanding deposits and outstanding cheques.
  • Receipts Audit Trail – audit trail of cashbook receipts, including receipts automatically posted from debtors system. Available by GL account code or date ranges. Detailed debtors receipt breakups can also be included.
  • Payments Audit Trail - audit trail of cashbook cheques, including cheques automatically posted by creditors system. Available by GL account code, date or cheque number. Cheque can be summarized or detailed.
  • Account Lists – lists transactions or monthly general ledger account posting totals by date or period range. Payments, receipts or all transactions can be optionally included.
  • Bank Statement Audit Trail – audit trail of bank statement transactions, optionally including payments, receipts or all transactions.
  • Cancelled Cheque Report – audit trail of cancelled cheques by date range.
  • Receipts Reconciliation – comparison report of bank statement deposits versus receipts automatically posted from the debtors system available by date range.
  • GST Claims/Audits – cashbook only gst remittance report.
  • Creditors Master file – compressed or detailed list of creditor details.
  • Creditors Trial Balance – compressed or detailed aged creditor's trial balance.
  • Debtors Trial Balance – departmentalised or consolidated debtors trial balance.
  • Transaction Lists – audit trail of transactions by general ledger account.
  • Monthly Summary by GL Account – summary of total transaction by month per general ledger account.
  • GL Dept/Dissection Lists – detailed or summary transactions by general ledger department and account or account and department.
  • YTD Purchases – total purchases per creditor summarised by month and year to date figure. Options for selecting different groups of creditors only.
  • Transaction Audit Trail – audit trail of all transaction types by date range and creditor code with options for selecting various report orders.
  • Quick Summary – quick screen display of total creditors balance and breakup by age. Also next 2 weeks commitments summary.
  • Cheques Drawn – audit trail of cheques by date, cheque reference or creditor. Summary and detailed option.
  • Creditor Account History – report of creditors accounts, which summarises total transaction types per month.
  • Accruals Report – list of transactions in this year relating to prior year as a basis for a year end accruals journal.
  • Opening Balances List – list of opening balances at beginning of financial year.
  • Control Account Reconciliation – creditors control totals report for ensuring system integrity.
  • Financial Statements – Multiple versions of trading, profit and loss and balance sheet production. Reports include options for monthly comparison, comparison to budgets, variances to budgets, comparison to prior year for year to date and current period and percentage comparisons.
  • Transaction Batches – audit trail of transaction batches.
  • General Ledger – detailed or summary audit trail per general ledger account.
  • Chart of Accounts – master file list of chart of accounts.
  • Departments Master file – master file list of departments.
  • Control Account Reconciliation – reconciliation report of all system control accounts to ensure sub-systems balance to general ledger control accounts.

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Contact us for more information or a Quote today!

PO Box 3503, Loganholme, Qld 4129 Australia.
Phone: 07 3806 2631
Fax : 07 3209 9101
Email: sales@options.com.au