General Ledger Setup
OPTIMUM offers a multi-level and segmental chart of accounts that allows a 19-character account code, reflecting company, branch, profit center, type, category and sub-category, in addition to a user-defined suffix. Accounts parameterization include further categorization by department and user-defined type, choice of statement frequency, a specific mailing address, currency, and a 30 character nominal account description in both Arabic and English.
GL Data Input
Because of its powerful segmentation, OPTIMUM will allow an unlimited number of accounts. Data input is fast and friendly, without the need to remember account codes or refer to printouts. Entry fields are controlled by the system to avoid errors as much as possible. The power of OPTIMUM’s engine will handle an unlimited number of entries per account or per journal, and an unlimited number of journals. Posting and end-of-day process is done in the blink of an eye.
Batch entries can be input to the system directly or through pre-setup journals or from any sub-module attached, such as purchasing, sales or fixed assets.
GL Accounting Power
OPTIMUM is a fully multi-currency system: accounts are maintained in their own currencies and the balances converted to base currency, assets revaluation is updated as and when rates change and the resulting FX gain/loss is computed daily. The General Ledger module is integrated with the other sub-systems on a real-time basis. But most of all, OPTIMUM is based on the latest IAS, giving full compliance in your financial statements.
Data Retrieval
With OPTIMUM you will be able to see everything inside your database. The drill-down facility will takeyou through to the original purchase/sales transaction, via the balance sheet or P&L, or via the transactions drill-down. This gives you the possibility to view all accounting entries related to any transaction. Search/sort/filter of all accounting entries couldn’t be easier. Balance inquiries, including account currency, base currency equivalent and forward transactions, are also available on-screen.
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An extensive range of financial statements (balance sheets, profit and loss statements) is produced, as of any date and up to today’s date, in both Arabic and English. They offer multi-level consolidation and comparative analysis. User-defined management reports complete the reporting capabilities, together with statements of account (all accounts).
Accounts Reconciliation
The OPTIMUM General Ledger has the capability to perform all types of accounts reconciliation, be they bank accounts, vendors' accounts, customer accounts and inter-branch accounts. The system allows manual input or electronic file upload.
Flexible Budgeting
OPTIMUM will record your monthly budget figures for each account, and compare them to your actual results at any time of the year through its extensive report generation.
Customers/Suppliers Database
The importance of maintaining accurate and up-to-date information about one’s actual and potential business partners no longer needs to be demonstrated. OPTIMUM will hold standard data for an unlimited number of contacts, with integration to the system’s functions. Input only needs to be done once, data can be used throughout the company, and adding/editing is fast and easy.
Stored data includes name, physical and mailing address, telephone/fax/email/website.
Record search is made easy with the sort and filter commands which are applicable to any customer detail.
OPTIMUM also allows you to control your credit payments and receipts with its powerful aging tables, for accounts payable and accounts receivable.
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