MIMICS General Ledger System originally designed as an adjunct to MIMICS’ securities processing systems has been enhanced to be a fully functioning general ledger with ad-ons for other accounting functions. A journal entry feature allows the user to post entries that are always balanced. Entries from other accounting modules are created according to flexible accounting rules that you define. Standard accounting reports can be selected at any time, and an optional report writer allows creation of your own reports.
A flexible Chart of Accounts allows user-defined account numbers. These numbers can be identical to other business units with the system maintaining the units separately in the database. Accounts can be set up for one unit and can be copied to any other to save input time.
The user can set up any structure for their business hierarchy from the holding company all the way down to small branches or warehouses. The scope of the hierarchy is unlimited. Accounts for different companies, departments, or other entities can be maintained.
Entries can be made in any number of currencies, and the system can report on these transactions in any other currency using an exchange rate table.
The database is updated in real time. That means that up-to-the-minute reports can be created at any time. All entries are required to be balanced due to internal system rules. Checks can be printed on blank safety stock or pre-printed check stock. You can easily clear the checks. Interface is available for automatic check reconciliation. Sort reports and select specific transactions quickly for quick customization of reports. Embedded report writer option available for full report customization by the user.
Several screens are available for viewing the transactions and history. Drill down through the data to explore the details. The Journal Entry feature allows manual dual entry and bookkeeping entry with an automatic balancing feature. This feature is used for posting entries if other MIMICS Accounting modules, such as Accounts Payable, are not licensed by the user.
Entries can be reversed easily through a simple user interface. Entries can automatically be posted in real-time from other MIMICS accounting modules based upon accounting rules set up by the user for the module. Alternatively, these entries can be processed in a batch mode.
Closing at period end closes out revenues and expenses for the next period. Period End Closing can be re-run at any time if required. Create budgets for any business unit and track the variance from actual on screen or by report. Define the format of your Cash Flow report and the source of the data. View your cash flow in real-time.
Quickly view the standard ratios for your accounts on a screen view that allows drill-down to specific accounts. Rates are entered for conversion to the base currency. Import accounting transactions from other systems such as Billing, security trading operations and portfolio management.
MIMICS GL System will help streamline your operation.
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