The BAI General Ledger (GL) module is an interactive and complete accounting system containing a flexible Chart of Accounts, budget preparation options, and an abundance of financial reports.
The General Ledger module is the foundation on which all other BAI components are built. Accounts Payable, Payroll and Purchasing transactions posted through BAI accounting software automatically impact the General Ledger with no data exports or conversions. All GL activity is viewable immediately after updates occur.
System complies with General Accepted Accounting Principles (GAAP), Government Finance Officers Association (GFOA) and Governmental Accounting Auditing and Financial Reporting (GAAFR) and Uniform Chart of Accounts guidelines.
Financial Reports have been designed as suggested by APA.
Create, print and post journal entries to the general ledger when data is correct.
Security can be placed on journal entry source types to track the user id that makes journal entries.
Automatically post general ledger accounts (single transaction processing) for accounts receivable and payable, utilities, miscellaneous billing, payroll, commissioner, social services and purchasing.
Holding files store data until the user moves them to the general ledger. This ensures the general ledger can be reviewed and reconciled later while continuing to view all other daily business functions as usual.
The soft close function copies transactions (to be adjusted later) while permitting the locality to immediately produce reports for the new fiscal year.
The user inputs adjustments as they are determined in the soft closed year, produces final reports until all necessary entries have been processed, the system then uses those soft closed entries to alter YTD revenue and expenses or creates journal entries that will impact the balance sheet accounts in the current year.
Inquiry function allows viewing of a wide range of information, including account balances and detail, budget data, transactions, and encumbrances for the current or previous year.
View any general ledger line item, by major function in total, by fund, or major function and account number in detail.
Traces budget appropriations, supplements, and transfers with the detail of journal entries.
Appropriate by fund with exception capabilities.
Move actual expenses/revenue information from prior year to older year.
Optional BAI defined excel layouts can be used to import journal entries.
Track appropriations, transfers or supplemental budget transactions.
Comprehensive budget preparation options include budget requests by department, management, board/council approval and projections.
Optional BAI defined excel layouts can be can be used to import budgeted amounts.
Detailed GL history reports as well as summarized variations of reports are available on demand.
Source codes track the module or user who enters a transaction, creating an easily followed audit trail.
Data entry edits for debit/credit balancing.
Software produces Comprehensive Annual Financial Report (CAFR) and GASB 34 report.
Auditor's Threshold allows the user to define fund specific threshold values and then produce Auditor's Threshold Report.
Accrual options will produce accrual entries for taxes and other TR collections (additions and subtractions) within user specified time frames.
My Reports functionality allows an administrator to create users parameters for financial reports that they should have access to and the system will show users only the data that administrators have given them access to. This function exists on Budget Reports, Financial Reports, Current Month Trial Balance and Year to Date Trial Balance.
Numerous standard reports include: Chart of accounts, budget analysis, appropriation reports, operating statements, auditor’s trial balance, balance sheets, revenue/expense reports, year-to-date trial balances detail, current accounting period trial balances, encumbrance reporting, compare any revenue or expenditure item by month for up to five prior years, query reporting, numerous other reports.
Fixed asset tracking is included with the financial report package. Users can track assets as AP invoices are processed or as determined. The system can calculate depreciation values. Several reports are available within the option.