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Basic accounting has been around for 2000 years. The
integrated SNAP-2-IT
accounting module
consists of the chart of accounts, general journals, and closing & posting file.
It also prints the basic general ledger, income statement, and balance sheet reports.
The accounting functions are optional. It is not required that
you close the books, post, or run any reports to operate the system. In fact,
if your accountant normally does that for you, the sales journal,
purchase journal, cash receipts register and check register will
normally provide an excellent summary for your accountant. All the reports will provide an account distribution even without posting.
Chart of Accounts
- Unlimited
chart of account numbers - use your own numbering
scheme.
- 12
alphanumeric characters - You can use your old numbers.
- Department
Codes - Run your reports by department.
- Summary
Accounts - Allows you to run a summarized income
statement.
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General Journals
The general journal allows manual journals to be created,
where you can make your own entries. You can enter as many
journals as you need (up to 2,000,000,000) and each journal may
have as many detail entries as necessary, providing the total
number of detail entries doesn't exceed (2,000,000,000).
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Financial Reports
These include the general ledger,
income statement, balance sheet, trial balance, and the detail general ledger.
The trial balance is not required and functions primarily as a
summary general ledger.
The general ledger can be run for
any period for which there
is data. This means you can produce financial statements for any
period of time, not just the current or last period. The general
ledger report allows you to specify the date range for the
current period and fiscal year computes the values which will be
used by the income statement and the balance sheet.
The income statement (or profit and loss statement) is fairly
flexible. It comes formatted to produce the most common
appearance. It produces a report based on the period computed by
running the general ledger report.
The balance sheet is also fairly flexible and comes formatted
to a standard appearance.
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Closing and Posting
The books must be "closed" or "posted" in
order for the general ledger report to be able to produce data.
The process of closing is very simple and requires that you
specify the closing date. The books may be closed on a weekly,
monthly, quarterly or any other basis.
Closing the books prevents changes to invoices. This provides
an important safeguard for multi-user systems.
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