- Multi-department, multi-company with consolidation.
- Period end closing is accurate and timely. History may be
stored indefinitely.
- General Ledger supports 12 or 13 period processing. Multiple
periods (up to 26) may be open simultaneously. Closed periods may be reopened, updated and
easily brought forward.
- Reduces manual input via automatic discount calculations,
preparation of payroll and payable checks, 941's, W2's, sales tax reporting, invoices,
customer statements, aged trial balance, service charge calculations, cash requirements
and financial statement preparation.
- Contains payroll report requirements for government and
union.
Customer Billing
| Feature |
Function |
| Invoice Entry |
Invoices may be created from a
sales order, back order or by direct invoice creation. Sales order information is
retrieved by order number and accepted or updated; invoice number is assigned by the
system. Line items may be billed as is or back ordered. Freight and/or additional charges
may be added as required. Inventory is reduced upon invoice completion and acceptance. A
direct may be created for situations not requiring a sales order. |
| Credit/Debit Memo Entry |
Credit or debit memos may be
issued against open invoices or in general. They remain in accounts receivable until
applied against an invoice, other memo or refunded or deleted. |
Accounts
Receivable
| Feature |
Function |
| A/R Inquiry |
Screen inquiry or print is
available by customer (name or number via window access). Data displayed/printed includes
standard customer information, credit limit, last payment date, year-to-date sales,
current balances and detail transactions by invoice and payment date. A user-defined aged
trial balance summary is also provided. |
| Credit/Debit Application |
Credit and debit memos may be
applied to specific invoices. |
| Cash Receipts Entry |
Applies cash, credits, on account
funds, discounts and other allowances against open invoices, credit and debit memos.
Windowing functions allow for finding customers by number, name or partial name. All cash
is entered, then individual customer information is displayed for automatic, manual or
selected invoice application. Cash not applied to an invoice or memo may be applied to the
customer's on account balance. All cash must be applied. |
| Service Charge Calculation |
Creates service charge debit
memos by customer for invoices with over 60 day balance (user supplied calculation start
date and rate). |
| Manual A/R Entry |
Accounts receivable balances not
generated through invoicing may be entered. A journal is printed and if in balance, totals
are transferred to the customer's accounts receivable. |
Accounts Payable
| Feature |
Function |
| A/P Inquiry |
Screen inquiry or print is
available by vendor (name or number via window screen). Data displayed/printed includes
standard vendor information, discounts available, year-to-date purchases, current balances
and detail transactions by invoices and due date. |
| Voucher Entry |
Vouchers may be entered directly
or as a result of a purchase order. Payment due dates are entered or automatically
calculated from vendor's normal terms. A voucher may be distributed to any number of
general ledger accounts (or standard account for vendor) and to work orders if interfaced
to PROFIT-IV Manufacturing. |
| Payment Selection |
Automatically selects for payment
open invoices due on or before user-supplied date. Options allow for invoices to be held,
partial payments made or payment of selected invoices before due date. The preliminary
check report prints all invoices selected for payment. Changes may be made to any invoices
if necessary. Checks may then be printed on pre-printed forms. |
| Adjustment Entry |
Allows adjustments to any open
voucher or a change to the discount amount. The adjustment register provides detail and
summary of entered adjustments. After report is accepted, general ledger is updated and
the adjustment register is cleared. |
| Manual Check Entry |
Hand written checks may be posted
to the accounts payable file. The manual check register prints a listing of all manual
checks. After accepted, general ledger is updated and the register is cleared. |
Payroll
| Feature |
Function |
| Company Initialization |
Static company payroll
information is entered, including employer ID#, pay periods per year, period end dates,
next check number, FICA percentage and limit, federal unemployment limit, and state ID#. |
| Time Card Entry and Edit |
Raw time card data is entered per
employee. Hours include regular, straight overtime, premium, sick, holiday, vacation and
other. Different pay rates may apply to each category. Provisions are provided for bonus,
per diem, expenses and other extras, including tax exempt status. If PROFIT-IV
Manufacturing is interfaced, hours may be brought directly from work order labor entry.
The time card edit list prints in employee order within department and company; it is used
to verify time card entry. Changes may be made and printed on demand. Totals are provided
by employee, department, company and total payroll run. |
| Gross to Net Calculation |
This process determines taxes and
calculates deductions necessary to produce a net figure. The payroll register prints in
employee order within department and company. It is used to verify employee payroll
validity. Changes may be made and reprinted on demand. Totals are provided by employee,
department, company and total payroll run. |
| Payroll Check Print |
Check are printed as calculated
in Gross to Net and indicated on the Payroll Register. All checks except pre-issued checks
may be printed. Dollar amounts are spelled out for clarity and protection. Sequential
numbering is maintained. The check register prints a summary of each check written
including pre-issued checks. Once accepted employee records are updated and the next check
number is saved. The P/R Distribution Report provides a summary by employee, department,
company and total payroll run. Once accepted, union fund (if required), general ledger,
quarter-to-date and year-to-date files are updated. The Deduction Register provides a
detail and summary listing or employee deductions. The year-to-date employee Earning
Report provides detail and summary year-to-date list by employee, department, company and
total. The Employee Ledger Print may be run on demand for historical and audit
requirements. |
| Manual Payroll Entry |
Allows for payroll to be notified
of checks written outside the normal system sequence. Files will be updated correctly at
next payroll run. The Manual Payroll Register contains data in reference to the manual
transaction and provides temporary audit trail until next payroll run. |
| Payroll Reversal Entry |
Any check appearing on the
Payroll Check Register or Manual Check Register may be reversed for purpose of
cancellation or correction. The Payroll Reversal Register provides an audit trail for all
reversed transactions. |
General Ledger
| Feature |
Function |
| G/L Inquiry |
Screen inquiry or print is
available by general ledger account number. Data displayed/printed includes beginning
balance, detail transactions with sequence #, reference description and date, debit and
credit amount and ending balance. |
| Transfer Journal Records to
Month-End File |
On-demand transfer of journal
entries from temporary daily transaction file to month-end. |
| Fixed Journal Entry |
Transfers fixed or repetitive
expenses to the month-end general journals. |
| Asset Accounting |
Provides ACRS/MACRS and
alternates. The ACRS/MACRS Depreciation Register prints the calculated depreciation amount
and updates asset files and general ledger upon acceptance. Asset File Maintenance allows
for assets to be added, deleted, changed and inquired upon demand. ACRS/MACRS Table
Maintenance contains the asset identity and percentages used to maintain/calculate
depreciation for up to 36 years. The alternate Asset File Maintenance provides for assets
that are to be depreciated but not updated to general ledger. |
| Journal Entry |
Allows for manual or standard
journal entry. Automatic reversing is available. The Manual Journal Register lists all
manual entries in account sequence. Once accepted, general ledger is updated. Reversing
entries automatically update the following month’s journal file. The Journal Print
prints on demand in transaction sequence, by a range or all numbers for current or
historical month. |
| G/L Trial Balance |
Prints summary or detail
transaction report with account number, descriptions, beginning and ending balances for
any selected period available. Once accepted, general transactions are netted into G/L
master file in preparation of financial statement print. |
| Financial Statement Print |
All financial reports are user
defined with an integrated spreadsheet-like formatter. The Income Statement may be
produced on-demand. Current month and year-to-date compare to previous year with percent
of income or expense calculated. Retained earnings may be updated automatically. Once
accepted, the Balance Sheet may be printed on-demand. Categories are defined at the time
the chart of accounts are created. A Budget Statement Report allows for budget versus last
year data comparison. Month-end processing occurs and general ledger history is updated.
Year-end processing moves this year period data to last year and clears for the new year. |
| G/L File Maintenance |
Descriptions may be maintained by
company and positioned for financial statement printing. The Account Finder File provides
for automatic general ledger update throughout PROFIT-IV when set up as a fully integrated
system. Company Code File provides for multi-company processing. |
|