General Ledger

The NGRERP general ledger offers a flexible chart of accounts combined with a series of source journals that support multi-level account definition and consolidation with real-time access to overall cash flow and profitability. In addition, the general ledger supports flexible period definition, automated period end processing, and is completely multicurrency-enabled. NGRERP's general ledger supports manual, recurring, and reversing journal entries, and allocations. 

NGRERP's general ledger provides strong audit support with drill-down capability, allowing for retrieval of all data from a summary level down to detailed transactions. Data can be exported to the integrated financial report writer. These capabilities provide a fully-integrated financial management solution for a wide range of manufacturers and distributors from small start-up companies to multinational, publicly-traded corporations.

Multi-level Chart of Accounts

NGRERP software provides a flexible, multi-level general ledger structure that supports such entities as multiple companies, business units, divisions, facilities, departments, or profit centers. These relationships are easy to define through a flexible process that allows an organization to modify or expand the account structure as needed. In addition, NGRERP's built-in financial report writer automatically generates professional financial statements at any level of the organization desired.

Multi-level Chart of Accounts Highlights

• Track multiple organizational segments such as companies, business units, or profit centers
• Hierarchy of departments can be consolidated by levels for summary purposes
• Financial data can be viewed at various levels of the overall business hierarchy
• Financial reporting can be performed at multiple organization levels, from a department or facility through company and business unit to an overall consolidated enterprise
• Various legal entities can each operate with their own base currencies while being consolidated into a common corporate currency at an overall enterprise level

Period and Year End Processing

NGRERP's financial management functionality enables flexible and automated period and year end processing. NGRERP's financial management solution allows for each business’ unique fiscal period definition. One can have an infinite number of periods open at any time, and with appropriate security privileges, closed accounting periods can be reopened for making correcting entries. Once these correcting entries are made, adjusted balances are rolled forward without the need to reopen other previously closed accounting periods.

Unlike other systems, NGRERP's general ledger includes a fiscal year definition such that business processing can occur in a new fiscal year without closing and zeroing out values in the prior fiscal year. This capability allows companies to run year end processing multiple times while ensuring transactional integrity in the new business year.

Period and Year End Processing Highlights

• Flexible, user-defined accounting period definition
• Source journals can be closed independently
• Supports multiple periods open at one time and allows transactions in the next period even though the previous period is not closed
• With appropriate security privileges, previously closed periods can be reopened to make correcting transactions
• Year end processing can be performed multiple times as necessary
• Supports fiscal year definition within the general ledger so processing can occur in the new fiscal year while finalizing processing within the prior year