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General Ledger

Allows an unlimited number of companies.

From day one, CONTRACK™ 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. CONTRACK™ 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 companies.

Allows the user to define the “Chart of accounts”.

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.

Allows companies to share a “Chart of accounts” or to create separate “Charts” per company.

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.

Provides “Real-time” transaction processing.

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 get done.

Allows users to “Post Ahead” (i.e. monthly closings are not required before entering transactions to the next period.)

CONTRACK 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.

Allows 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.

Provides powerful financial reporting tools that are easy to use.

CONTRACK 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 is exceptional.

Cost centers, groups of Cost centers or overall company performance can be reported at the push of a button. Even consolidated financials are easily created.

Allows 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.

Provides “Built-in” drill down capability from “Financial Statement Group” to individual transactions comprising an account balance.

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.