General Ledger System
Does the software/application automatically close all income statement accounts into retained earnings when performing a year-end closing or is a manual closing entry required?
Yes, The Business Edge automatically closes all the income statement accounts into retained earnings. No manual closing entry is needed.
Will the system alert you to any out of balance transactions or entries before they are processed or posted or does it automatically balance the transaction or entry by using a predetermined balancing account?
The system will automatically alert you to an out of balance condition before the posting is made.
Will the system allow a “one-sided” or out of balance general journal adjusting entry to be made?
Yes. It will warn you that it is out of balance and ask you if you really meant to do it. It will allow you to complete the transaction though because a hardware malfunction or other reason could make it necessary to make an out of balance transaction. The system will give you a report of any out of balance transactions that have been entered as well.
Does The BUSINESS EDGE have a General Ledger System?
The System offers complete integration of virtually all functions of the company with automatic posting to the General Ledger, eliminating redundancy and errors.