an unlimited number of companies.
was built to handle multiple companies.
The nature of the industry is that
individual projects are funded by
different investors and set up as
separate legal entities. Being able
to enter transaction quickly to
multiple companies is essential.
does this by simply allowing the
user to change the “Company
code” at the top of the entry
form. There is no need to exit the
program. The data for all companies
is stored in a common database which
allows the program to easily consolidate
entities and report activity across
the user to define the “Chart
Not only is the chart of accounts
completely user defineable, you
can have different charts for different
types of companies. Many clients
develop different types properties,
residential, commercial, industrial
and wish to use a different chart
of accounts for each type of business.
companies to share a “Chart
of accounts” or to create
separate “Charts” per
While we like the idea of using
a “Master Chart” for
all companies, you don’t have
to. You can have as many charts
as you need.
Transactions entered to CONTRACK™
are posted immediately to the General
Ledger when saved. There is no need
for batch processing. This provides
a higher level of control and ensures
that reports will always be up to
date. The “Real Time”
nature of the system delivers a
higher level of control than older
batch systems because the types
of errors encountered in Batch systems
are caught before the entry can
be saved. “Batch” system
rely on an individual to do review
entries before they are posted and
unfortunately most accounting departments
are understaffed and this step doesn’t
users to “Post Ahead”
(i.e. monthly closings are not required
before entering transactions to
the next period.)
no only allows the user to enter
transactions to any open period,
entering transactions to a new period
doesn’t affect its ability
to report on the prior period. We
strongly recommend that periods
be closed when completed to prevent
reported balances from being disturbed
but with CONTRACK™
you’ll never be held up waiting
to enter transactions to a new period.
reporting on any prior period.
The design of the CONTRACK™
database allows it to maintain years
of data and still provide exceptionally
fast reporting. Even if transactions
are purged, the system will replace
the deleted entries with a summary
entry to maintain monthly reporting.
powerful financial reporting tools
that are easy to use.
comes with a built-in financial
reporting function called the “Script
Based Financials.” The name
comes from an older version of the
software but today’s version
is light years ahead. Users can
create any number of “Script.”
The capability to define subtotals
Cost centers, groups of Cost centers
or overall company performance can
be reported at the push of a button.
Even consolidated financials are
users to report on prior periods
even after the year has been closed.
Even the “Close year”
function is designed to allow easy
reporting of prior year balances.
The “Close Year” function
creates a simple “Income Summary”
entry which has the effect of zeroing
out the Income and Expense account
balances without purging the transactions
which support those balances. To
report on a previously closed period,
the system will ignore the closing
entry allowing you to always be
able to report the prior year income
and expense balances.
Reporting on any prior period means
that you can print “Rolling”
income statements. You’re
not confined to your accounting
year. At the push of a button you
can see the last twelve months or
last six quarters, regardless of
your year end date.
“Built-in” drill down
capability from “Financial
Statement Group” to individual
transactions comprising an account
Start with a “Financial Statement
Group” such as Cash or Accounts
Receivable, highlight the desired
row, double click and see the gl
accounts and the related balances
comprising the Financial statement
balance. Highlight an account, double
click again and see the individual
year months of activity on the account.
Highlight a month, double click
and see the individual transactions
recorded that month.