General Ledger


GL Accounting With Maximum Control




By default, the Accounting System included in OneSource is virtually invisible (and is not accessible) to most users. Each OneSource user can be granted or denied specific access to each of the forms and reports outlined below.
In a nutshell, OneSource gives your accounting personnel the tools to simplify the process of creating and maintaining your Chart of AccountsGeneral LedgerSupplier 1099’sFixed Assets and Financial Statements.


OneSource Chart of Accounts, General Ledger, Financial Periods
The Accounting System in OneSource includes the following features:
  • Full featured double entry system with automated or manual entry of debits and credits
  • GL Defaults to automate the creation of GL Transactions for Sales, Purchasing, Inventory Management, etc.
  • Standard Chart of Accounts with Standard Classifications, including the 8 basic accounts:
        • Assets
        • Liabilities
        • Equity
        • Revenues
        • Cost of Goods Sold
        • Expenses
        • Other Income
        • Other Expenses
  • Define Unlimited Accounts/Sub accounts – Use Any Numbering
  • Centralized queue to store/review all GL Postings BEFORE they are actually posted to the GL (one at a time or in a batch)
  • Filter for any given set of GL Transactions, by date, transaction ID, type, Account, Source, etc.
  • Quickly view all details of any given account, including ability to reverse transactions
  • Double-click on any transaction to view the entire journal entry for the transaction
  • Full audit trail of all GL Transactions
  • Create Journal Entries with Automated Reversing
  • Create user defined Financial Periods. Closings Are Optional – Never Close If You Choose
  • Produce Pre and Post Closing Trial Balances
  • Ability to roll-back, review and repost batches of items for a given date range (if the period is still open)
  • Define Beginning Balances or Input GL Adjustment Transactions
  • Define Budgets for Revenues and Expenses
Financial Statements
    • User Definable Groups and Sequences for Financial Statements
    • Rollup Sub accounts on Financial Statements
    • Numerous Accounting Reports including: Income Statement, Balance Sheet, Trial Balance, Statement of Cash Flows, 1099 and 1096 forms, General Journal, Chart of Accounts, GL Account reports, etc
    • Ability to customize any financial report or add an unlimited number of new financial reports with the built in report writer
    • Ability to create combined or separated financial statements for one or more departmenets, divisions or separate companies
    • Complete Inc/Exp Budgeting and Comparative Statements
1099 Payments
The 1099 System provides an easy to use method for processing 1099’s for your suppliers. Features of this system include:
    • Mark your suppliers in the Suppliers form to indicate they are to receive a 1099
    • Mark or unmark each individual bill to be included on a 1099
    • View detailed and summary information about payments made to your suppliers
    • Issue Void and Corrected 1099’s as well as original
    • Print a 1096 at the same time you print 1099’s
    • System will automatically select to create 1099’s for all suppliers that have been paid over $600 during the calendar year
    • View payments made to suppliers directly from the 1099 form
    • Print on plain paper or pre-printed forms
    • Prints all necessary copies for IRS, Recipient, Payer and State
Fixed Assets and Depreciation
The Fixed Assets and Depreciation system allows you to keep track of your fixed assets by keeping information on file such as:
    • Asset Type
    • Serial Number
    • Useful Life
    • Salvage Value
    • Depreciation Method
    • Depreciation Accounts
The system also calculates the Depreciation Expense, Accumulated Depreciation and Book Value.
You can add a new fixed asset, find existing assets, delete a fixed asset, dispose of an asset or depreciate an asset. You can choose to use one of five commonly used depreciation methods including Straight Line, Declining Balance, 150% Declining Balance, Double Declining Balance, and Sum of the Years Digits.
Free Training To Your Accountant!
Many accounting firms recommend and prefer to support accounting systems which they are familiar with. Understanding that your Accounting Firm can be an integral part of your accounting and/or tax preparation process, we offer free support to 3rd party Accounting Firms who are interested in supporting and/or recommending powerful, flexible accounting software such as OneSource software.
To learn more about the features included in the Accounting System in OneSource, please Contact Us


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