SapphireOne

General Ledger

The SapphireOne general ledger gives you the tools to manage your business effectively and always have a clear and precise view of the financial standing of your organisation. This is made simple through our range of reporting options. The SapphireOne general ledger gives you a clear and current picture of your true financial standing. It is the tool to assist you in managing your business financial record efficiently.

With Unlimited history available at your fingertips, you can easily track your companies progress from the past, current and also plan for the future. SapphireOne general ledger allows you to create budgets based on live information in the SapphireOne application or through Microsoft Excel Link.

SapphireOne Accounts - general ledger menu for mac

Key Features

The SapphireOne general ledger gives you a clear and current picture of your true financial standing whilst fully complying with International Accounting systems.
  • SapphireOne general ledger structure

    General Ledger Structure and Components

    Hierarchical Structure of Accounts
    Project Management
    Distribute Accounts
    Budget Creation
    Locked Periods
    Correlation Protocols
    Unrestricted History
    Period management

  • data-entry

    Data Entry Processes

    Posting Dates Systematically
    Batch Posting
    Clearing Accounts
    Standing Transactions
    Swift Journal Entries
    Audit Control and Reconciliation Across Modules

  • information-retrival

    Superior Information Retrieval

    General Ledger Query
    Foreign Exchange Query
    Standing Transactions
    Swift Journal Entries
    Clearing Accounts
    Batch Posting
    Foreign Exchange
    Audit Control and Reconciliation Across Modules

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    Powerful Tracking and Analysis

    Accounting Templates
    Multi Company Reporting
    Report Customization
    Report Viewing Options

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    Remote Access

    Dispense financial reports securely

Data Entry

SapphireOne general ledger data entry for mac
Journal
This is used for performing adjustments to the General Ledger. Any journal created will make adjustments or alterations to your general ledger balances.
  • Tracking

    Data entry into the journal may be used for tracking purposes and the type of the journal is recorded as well.

  • Standing transactions

    If required, journals may be set up as standing transactions with the ability to select the start and finish date as well as the frequency of the transactions.

Destination area

The Destination Area is where the Debit and Credit data for your accounts is entered.
This area contains two items. The lower area is where the individual lines that go to make up this transaction are displayed. When one of them is selected the area above is where the user may enter or modify the data in each line as they are selected.

Until the transaction is correctly balanced and the O/B amount in the Totals area is zero, as seen in the screenshot.

general ledger destination

Inquiry Screens - General Ledger

There are four Inquiry screens that allow you to search, manage and access your General Ledger files.
These are: Transaction Inquiry, General Ledger Inquiry, FX General Ledger Inquiry, and a Class Inquiry

SapphireOne general ledger Transactions inquiry for mac

Transactions Inquiry (General Ledger)

Transactions inquiry list all transactions that affect general ledger.

A general ledger Transaction Inquiry displays a window that contains all of the current activities for your general ledger. All transactions are listed in sequence number order and provide access to all details in this transactions.

From this window you can or Modify   (un-posted items only) the information stored in your files.

general ledger inquiry for mac

General Ledger Inquiry

General ledger inquiry gives you a list of all general ledger account in the system.

This General Ledger Inquiry window provides the ability to view information contained in each individual General Ledger account.

The General Ledger serves as the heart of SapphireOne and allows production of management reports including the Income Statementand the Balance Sheet.

This Inquiry will only display General Ledger accounts in the Master or local currency only. For the FX General Ledger details please use an FX General Ledger Inquiry.

It will also only display the General Ledger accounts for the company that you are currently logged in to. The posting of transactions writes data to the General Ledger.

All the paths which transactions follow through SapphireOne lead to the General Ledger.

Note that there are two types of General Ledger Accounts

  1. General Ledger Accounts that are not bank Accounts.
  2. General Ledger accounts that are Bank Accounts.

The general Ledger accounts that are Bank Accounts have some specific differences and these are documented in the following pages in this manual.

If ANY FX additional types are created in the data file, careful examination of any General Ledger Accounts that are Bank Accounts should be the first General Ledger Accounts to be checked.

In particular check the names of these accounts and the Currency, FX Type, that these FX General Ledger Bank Accounts are to be operated in.

foreign exchange general ledger inquiry mac

FX General Ledger Inquiry

Foreign Exchange (Fx) general ledger is the same as a general ledger inquiry but lists the general ledger FX accounts as well.

This Inquiry window provides the ability to view information contained in ALL General Ledger accounts in all currencies.

The General Ledger serves as the heart of SapphireOne and allows production of management reports including the Income Statement and the Balance Sheet.

This Inquiry will display General Ledger accounts in all of the FX currencies currently installed in the system!

It will also only display the General Ledger accounts for the company that you are currently logged in to the posting of transactions writes data to the General Ledger.

All the paths which transactions follow through SapphireOne lead to the General Ledger.

The currency for a particular General Ledger is displayed as a suffix after the (/ forward slash) as M for master or local currency and a three-digit ID for other currencies.

Currencies in Bondi Blue:

The screenshot here illustrates the General Ledger accounts for Bondi Blue

The M indicates the Master currency which for Australia would be Australian Dollars AUD.

No matter what the Master or local currency is it will always be listed as M.

There are two other currencies in the data file NZD for New Zealand dollars and USD for US dollars.

While there is a London based company set up the British Pound has not been installed as a currency yet.

general ledger class inquiry mac

Class Inquiry

General ledger account may be linked to a class.  When a general ledger account is assigned to a class it is primarily used for selection of general ledger accounts when creating reports.

A Class Inquiry provides the ability to group General Ledger Accounts, for analysis and printing purposes. For example: Cost of Sales is a Class but may consist of Opening Stock, Purchases, Closing Stock, Freight and On Costs.

For ease of reading, you would require all these accounts to print within the same section of your Income Statement. Before entering any Ledger accounts, work out a set of Classes so that each area of your ledger will relate correctly to the others.

The screenshot here from the Bondi Blue Demo shows the complete list of Classes that are set up in the data file.

General Ledger - Process

general ledger post journal mac

Post Journals (General Ledger)

Post Journals presents a window which contains all current un-posted Journal (GJ) transactions listed in date order awaiting posting.

Activities here will update all balances for the relevant accounts.

general ledger bank reconciliation mac

Bank Reconciliation

When the Bank Reconciliation function is first selected it displays a pop up containing the Bank Accounts that are currently in the system.

This allows selection of the relevant Bank account as seen in the picture.

OFX files:

There are two ways that the Bank Reconciliation function may now be completed.

Once the function is onscreen the easiest way to complete it would be to select the  ‘load OFX’ button at the bottom of the screen.

All Banks will now send a standard OFX file to their customers provided they have electronic banking correctly setup.

 

When the SapphireOne system reads the OFX file the criteria for a successful link being confirmed from the OFX file for your bank account transactions in SapphireOne is a follows.

  1. A simple checking of the $ amount in each transaction. It recognises a deposit or a withdrawal as separate amounts even if they are the same $ value $200.00 Or $-200.00
  2. If there are more than one transaction with the same $ amount the system will then check for a different date.

direct bank entry general ledger mac

Direct Bank Entry

The system will then present a list of bank accounts for you to select from. The account declared as the Main Bank account will be highlighted however you may select any of the others in the list.

Normally this function is used for direct entry from a bank statement so enter the Statement Number and the opening and closing balances from the statement.

Make certain that these are correct as you will not be allowed to process the transactions until these are correct.

accounts receivables key features
Key Features of  General Ledger

General Ledger Structure and Components

  • Project Management

    Customise your own sub-ledger to track and cost projects, allowing you to analyse each project and maintain detailed information including the entire history of the project.

  • Distribute Accounts

    Apportion a dollar or percentage amount to numerous general ledger accounts or allocate a fixed amount across multiple chart of accounts or departments, giving you flexibility beyond compare.
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  • Hierarchical Structure of Accounts

    With SapphireOne’s flexible account design, tracking your finances has never been so simple. With vast room to grow as your business develops, SapphireOne’s general ledger means you are able to meet the needs of today and tomorrow. With a customisable browser that gives you up to 10 hierarchy levels, custom field names and additional fields available for you to define your accounts to suit your needs.

  • Period management

    Financial accounts can be grouped by transactions, audit lines, bas, activity statement, costing and many more user-defined periods. The availability of 30 periods means that you can run for up to 2 and a half years (based on 1 period per month) without the need to perform a year-end. The length of a period can be weekly, fortnightly, or monthly depending on your organization’s requirements. Periods may be locked as required to give you more control as a superviser.

  • Correlation Protocols

    Seamlessly import and export data between SapphireOne and third-party applications such as Microsoft Excel or external report writers, giving you unparallel access to information.

  • Unrestricted History

    Unlimited history means that you are able to maintain a complete company history without the need to archive, giving you access to historical data at your fingertips.

  • Locked Periods

    Lock a period from further entries or adjustments assisting in efficient administration, with the ability for the financial controller to unlock the period at any stage.

  • Budget Creation

    Plan your budgets based on historical data within the SapphireOne application or export data to third-party products, such as Microsoft Excel. Appraise actual spending with forecast spending, for an accurate understanding of your company or departmental requirements and adjust budgets to meet those needs.
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Powerful Tracking and Analysis

Analyse all aspects of financial activity with customisable viewing or produce standard reports from balance sheets, profit and loss to income statements. Create simple column based or full graphical reports with the ability to export or import data to or from spreadsheets and other applications into SapphireOne.
  • Accounting Templates

    With SapphireOne’s templates and set-up Wizard you are able to tailor the program to your exact requirements. Getting up and running is easy if you let SapphireOne generate a core assembly of general ledger accounts specific to your business industry. Or import existing accounts directly into SapphireOne. Customize financial periods and the layout of your financial reports.

  • Report Viewing Options

    Viewing and sharing reports is made easy with multiple options to suit todays information age. Select the destination of your reports by electing to preview on screen, print, e-mail or save reports to file. Each option has its benefit. Previewing a report on screen allows you to drill down to the originating transactions, perform searches to locate detailed information or review prior to distribution. A printed report gives users a hard copy to review, distribute or keep as a reference for future. Quickly distribute reports using the e-mail option. Save reports to file for backup purposes or to import data into other applications for further analysis or to share it on web based applications like Dropbox and Sharepoint.

    With the electronic distribution of reports you are ensured vital data is circulated appropriately and that the data received is accurate, facilitating informative decisions without the need to be physically present in the office environment.

  • Multi Company Reporting

    SapphireOne’s multi-company capability means you can report on individual companies or amalgamate information relating to multiple companies. Get a clear understanding of the progress of each oraganisation or how they compare in sales.

  • Report Customization

    The format wizard allows you to customize and save a collection of reports that is relevant to your business. You can compare and analyze data by simply dragging and dropping the appropriate fields into each column as you wish them to appear. Add any calculations, sorts and totals with the click of a button, giving you a truly unique report designed to your specifications. Personalized viewing of information allows you to manipulate the structure of your reports without impacting on the data entered into your system. There is no need to be limited by your calendar, reports for an exact period can be run at any stage regardless of the date you run the report, with accurate financial data as at the set period.

Superior Information Retrieval

SapphireOne’s menu structure means you can access core information of interest and trace it back to the originating transactions across the modules.
  • General Ledger Query

    Execute simple or powerful queries on every field and file pertaining to period balances, budget summary, current or historical financial years, net difference, debits and credits to name a few. Detailed searches can be saved for use in the future, with the added benefit of being able to create and save reports based on the search outcome.

  • Standing Transactions

    You can manage cyclic transactions efficiently, with the flexibility to set-up monthly, yearly, credit period or lifetime payment schedules. Standing transactions that have been created are easily modified or cancelled, giving you ultimate control. Automated reversal of transactions into the next period assists with administrating accrual general ledger journals.

  • Clearing Accounts

    Create subsidiary accounts to assist in tracking and analyzing specific projects, departments or sales. When performing period-end the balance of the subsidiary account is transferred to a controlling account, clearing the account for the next period.

  • Audit Control and Reconciliation Across Modules

    Strong audit control across all modules and features means that each transaction can be traced to its originating source, in spite of the deriving module. Recorded data from transactions posted in other modules include the user ID, entry date and unique sequence number

  • Foreign Exchange Query

    Display foreign and local currency information for transactions and view a synopsis of your foreign accounts. Set-up SapphireOne to automatically import the latest currency rates as required, directly from the Internet, from file or manually add and modify rates on the fly.

  • Swift Journal Entries

    Automatically transfer financial data from one general ledger account to another general ledger account. This is particularly useful for setting-up pre-payments for utilities such as insurance and electricity.

  • Batch Posting

    Select individual transactions or a group of transactions to be posted in batch. Transactions posted in a batch are marked with a batch number to easily identify and locate the package for posting in real time or in the future. Post transactions from any module with the confidence that transactions are automatically chronicled in the required set period, regardless of when the transaction was entered

  • Foreign Exchange

    SapphireOne’s foreign exchange handles transactions in any currency, allowing your organization to purchase from and sell to regional and worldwide markets. SapphireOne general ledger tracks unlimited currencies, with the ability to enter data in the foreign or local currency, with automated conversion. Set-up SapphireOne to automatically import the latest currency rates as required, directly from the Internet, from file or manually add and modify rates on the fly.

Data Entry Processes

  • Audit Control and Reconciliation Across Modules

    Strong audit control across all modules and features means that each transaction can be traced to its originating source, in spite of the deriving module. Recorded data from transactions posted in other modules include the user ID, entry date and unique sequence number.

  • Posting Dates Systematically

    Post transactions from any module with the confidence that transactions are chronicled in the correct financial period automatically, regardless of when the transaction was entered when the required period is set.

  • Clearing Accounts

    Create subsidiary accounts to assist in tracking and analyzing specific projects, departments or sales. When performing period-end the balance of the subsidiary account is transferred to a controlling account, clearing the account for the next period.

  • Swift Journal Entries

    Create multiple sub-journals to record recurring transaction to simplify data-entry processes and assist with better time management. Automated administration transfers financial data from one general ledger account to another general ledger account with added auto reverse functionality. This feature is particularly useful for setting-up pre-payments for utilities such as insurance and electricity.

  • Batch Posting

    Select a group of transactions to be posted in real time or save for posting later. Transactions posted in a batch are marked with a batch number for easy locating in the future. The facility to post transactions separately is also available.

  • Standing Transactions

    Manage cyclic transactions efficiently, with the flexibility to set-up monthly, yearly, credit period or lifetime payment schedules. Standing transactions that have been created are easily modified or cancelled, giving you ultimate control. Automated reversal of transactions into the next period assists with administrating accrual general ledger journals.

Remote Access

  • Dispense financial reports securely

    Dispense financial reports securely to staff over the internet, increasing the boundaries of communication and enhancing the quality and depth of information throughout your organization.
    With the electronic distribution of reports you are ensured vital data is circulated appropriately and that the data received is accurate, facilitating informative decisions without the need to be physically present in the office environment.

General ledger report mac

General Ledger Report Screens

The Reports section in this menu provides access to all areas of General Ledger reporting.  Choose the report, and then the particular shape and layout you require. You may also select report shapes and layouts you have used before, and saved for future occasions.

The nine reports are:

Standard Financials,  Export Financials,  FX Standard Financials,

  Chart of Accounts,    FX Chart of Accounts,   Details,   FX Details,

Bank Reconciliation Report   and   Bank Audit Report.