Accounting

Smartwerks’ General Ledger module is completely interfaced with Purchasing, Accounts Payable, Sales Orders, Accounts Receivable and Inventory.

All system transactions post to General Ledger immediately, not in a batch process. Each posting can be viewed in detail on the G/L Transaction Inquiry or Account Inquiry screens as soon as it occurs. Any reconciliation necessary is much easier due to the detail postings to each account. All financial reports can be viewed at any time – they are always current!

 

Smartwerks uses the Accrual method of accounting, which has been required for retailers since the end of 2001. We have the ability to keep open multiple accounting periods. A template Chart of Accounts is included and may be customized. Standard financial reports include the Trial Balance, Income Statement and Balance Sheet.

Managing your Accounts Payable can be time-consuming. Your business software should allow you instant access to all vendor information on one screen. If you’ve received merchandise but not the vendor’s invoice, you should be aware of this condition.

Discounts available must be monitored and reported. Paying your vendors should be a quick and easy process. We know Retail, and we’re here to help.

smartwerks’ Accounts Payable Master File includes information on terms, credit limit and minimum Purchase Order amount, last merchandise receiving date, payment date and payment amount. Your account representative’s information is instantly accessible. Complete data on all open and paid invoices is displayed on the screen, along with past due, current due and future due amounts.

Control of your Accounts Receivable is important to the overall health of your business.

Smartwerks’ Accounts Receivable Master File includes information on balance aging, credit limit and status. Customer Accounts can be created instantly at the time of sale. Credit limit and status information is displayed on the Sales Order screen, and additional account charges will not be allowed if the sale goes over the credit limit or the credit status is set to “Hold”.

 

Transaction history can be examined with just one click. View all invoices charged to an account, and actually access an invoice directly from the history screen. Multiple payments against any invoice are displayed individually. Customer questions can be handled accurately and efficiently.

Debit and Credit Memo preparation displays all customer invoices and also allows you to create an “Open” memo. Selected General Ledger accounts are instantly updated.

 

We’ve incorporated several advanced features as well, including the ability to generate Statements for one customer or all customers at any time of the month, as often as you wish.

Reconciling your company’s bank accounts every month is a task that many retail owners and bookkeepers wish their software would simplify

Smartwerks’ Bank Account Inquiry displays all activity for each of your checking and savings accounts. Customer receipts and vendor payments are listed with the date, reference or check number, vendor or customer name and amount of the transaction. The current bank balance is also displayed, along with previous end-of-month balances. As checks and deposits clear the bank during the month, you can indicate on this screen that they have been posted.

 

The Bank Account Reconciliation screen includes fields for bank charges, interest earned and up to four other adjustment amounts. The Account Register Entry feature simplifies the task of recording debit card charges. Printed Reconciliation Reports are automatically generated when you have completed reconciliation, and may be printed for prior periods as well.