Cutdown general ledger
GMS General Ledger and Financial Reporting System
Does your agency need a general ledger package for cash receipts, general journal, budgeting and month end reporting, but not necessarily other components of an accounting system?
GMS now offers the GMS General Ledger and Financial Reporting System, a cut-down version of the GMS Accounting and Financial Management/Reporting System. This
system includes the Chart of Accounts, Cash Receipts, General Journal, Month-End Reporting, Budgeting and Prior Year Maintenance.
It is designed for organizations that run the Revolving Loan Servicing System within their agency and do not necessarily require the use of Accounts Payable, Payroll, Cost Allocation, etc.
Data entry functions allow transactions to be entered with a minimum number of keystrokes and can be easily changed, displayed, printed or exported. Transactions can be easily stored in batches for efficient proofing and control before posting. Data entry activities include Cash Receipts and General Journal.
General Ledger Codes
Rather than require a large number of digits to code accounting transactions, our integrated structure streamlines data entry, enhancing system performance.
Program Elements
Program Elements are activities or components within projects or grants. Since they are pre-linked to projects when they are created, data entry is simplified.
Program Elements are the building blocks for the financial reporting structure. Line item revenue and expenditure reports will be generated at the program element (cost centers) level, summed up to the project level, and finally added into agencywide reports.
Does your agency need a general ledger package for cash receipts, general journal, budgeting and month end reporting, but not necessarily other components of an accounting system?
GMS now offers the GMS General Ledger and Financial Reporting System, a cut-down version of the GMS Accounting and Financial Management/Reporting System. This
system includes the Chart of Accounts, Cash Receipts, General Journal, Month-End Reporting, Budgeting and Prior Year Maintenance.
It is designed for organizations that run the Revolving Loan Servicing System within their agency and do not necessarily require the use of Accounts Payable, Payroll, Cost Allocation, etc.
Data entry functions allow transactions to be entered with a minimum number of keystrokes and can be easily changed, displayed, printed or exported. Transactions can be easily stored in batches for efficient proofing and control before posting. Data entry activities include Cash Receipts and General Journal.
General Ledger Codes
Rather than require a large number of digits to code accounting transactions, our integrated structure streamlines data entry, enhancing system performance.
- 5 digit codes are used to describe asset and liability accounts. These are used universally across the organization with 10000's reserved for assets and 20000's for liabilities.
- 5 digit codes are used to describe projects or equity accounts (these are in the 30000 series).
- All program elements (6 digit codes discussed on the following page) are assigned to a project or equity account.
- 5 digit codes are used to describe revenue and expenditure items. These are universal with 40000's describing revenues and 50000-99999's describing expenditures.
Program Elements
Program Elements are activities or components within projects or grants. Since they are pre-linked to projects when they are created, data entry is simplified.
Program Elements are the building blocks for the financial reporting structure. Line item revenue and expenditure reports will be generated at the program element (cost centers) level, summed up to the project level, and finally added into agencywide reports.
- 6 digit codes are used to describe program elements (cost centers, activities, components, work program activities, etc.)
