General Ledger (GL)

The system is parameter driven and in summary, has the following functionalities:-

  • A multi-user system that allows encrypted passwords using the MD5 standard
  • Ability to give and/or deny access of specific menu options to users
  • Ability to define and setup various company branches, departments and cost centre's
  • Ability to define tree structure account formats made-up of account groups, sections, main-accounts, and sub-accounts for the chart of accounts, maintaining account balances at the various levels for each period per account
  • Ability to restrict some accounts to a specific branch
  • Ability to define various subsidiary ledgers within the general ledger, each subsidiary having a control account within the G/L.
  • Ability to create and format customized P & L, Revenue and Balance sheet reports. The balance and even budget figures are picked from the T/B based on user defined links to each item for these technical financial reports. The system does the comparisons of actual against the budget figures and gives both figures and percentages of variations and attainments
  • Ability to define various budget scenarios and use any at any time. Budgets can also be defined per account, per branches or per cost-centre. The system is able to import date from excel worksheets and update the budget figures to these items
  • Ability to report at both company and branch level
  • Ability to do bank reconciliation manually by ticking reconciled transactions or automatically through import of bank statements
  • Ability to capture outstanding bank items after take-on of account balances for bank reconciliation purposes
  • Able to print reconciled and un-reconciled bank statements
  • Ability to capture bank lodgments and bank transfers in various currencies
  • Ability to capture transactions originating from banks (bank charges, interests, etc)
  • Ability to import call transactions from Excel worksheets from banks.
  • Ability to serialize and auto-generate next cheque numbers for any payments done through cheques for various bank accounts
  • Ability to analyze any expense transactions by cost centers
  • Allows requisitions processing from company departments that need approvals by identified users before subsequent payments are done. The requisition module is also linked to processed claims and policy loans from the Life System to enable processing of payments to both claims and loans.
  • Ability to raise payment vouchers that are linked to the life system for claims and loans payments.
  • Ability to consolidate several requisitions for single cheque payment
  • Ability to print cheques online or through batches
  • Ability to maintain post dated cheque registers
  • Ability to monitor and track cheque movements from raising, approvals and dispatching of the cheques.
  • Ability to manage petty cash and impressed accounts
  • The system supports multi-currency
  • Ability to work-out exchange gains/losses on monthly basis given the monthly average exchange rates and generate journals
  • Allows both batching of journals and on-line transaction capture
  • Allows operation in a multi-period environment
  • Allows closing and even re-opening of previous year’s masters based on authorized users
  • Ability to lock closed years to prevent closed periods updates
  • Ability to export data to PDF, EXCEL, CSV, etc formats
  • Currently linked to other Softclans modules e.g. front office, back office, Individual life, group life and pensions, payroll, fixed assets, investments monitoring system
  • It also links to market daily collections, a special individual life module for micro-insurance where transactions are captured by cashiers or by sales reps in the market through mobile phone.