The
chart of accounts reflects the structure of a Community Action,
Head Start, or Human Service Agency. Each program has its own
chart of accounts that is summarized to create the overall general
ledger of the agency. The fiscal modules create journal entries
that are fed to the general ledger system along with any manual
journal entries. You have the option to process your general
ledger at the end of the month or you can use our AutoGL feature
that processes each night and gives you a snapshot of the major
accounts every morning. This means that you are up to date daily
which makes month end closing very ease. You may keep an accounting
month or year open indefinitely if you are waiting for adjusting
entries while you continue to process in the current accounting
period. Closings and trial closings require no special processing
or intervention.
Besides
a Trial Balance and Balance Sheet for the agency, you can produce
these reports for any individual program or group of programs.
You also can produce a Statement of Income and Expense for any
program or group of programs, and a Consolidated Statement of
Income and Expense for the agency as a whole. Expense codes
and expense code groups are established for the agency as a
whole with the option to create different expense groups defined
by the funding source. All reporting is produced in either the
agency fiscal year or the programs' fiscal year.
