enAccount is the root to the accounts and account entries for each entity. enAccount allows for two types of transaction processing, the first being Journal processing and the second, Cash Book entries. Journal processing provide a method of creating batches of entries, which can then be approved and posted. There is also a Cross Client Journal Facility, this allows you to create a journal on one entity and have the system post corresponding entries to another entity. Cash Book entries allow you to choose a bank account and then select an nominal ledger account to post to. The system will then post the balancing entry on the chosen bank account.
The Nominal Ledger includes all of the summary level accounts and other internal accounts to facilitate reporting on the financial transactions. It includes summary accounts relating to Sales Ledger and Purchase Ledger (i.e. Debtors Control and Creditors Control). Every transaction in the Sales Ledger and Purchase Ledger causes transactions in the Nominal Ledger. For example, posting of a Sales Invoice causes three postings in the Nominal Ledger - to the Debtors Control account, to the appropriate summary level income stream account, and to the Output Tax account. Such postings should of course total to zero. Some transactions are conducted directly in the Nominal Ledger, by means of transfers from one account to the other (i.e. a debit to one N/L account is balanced by a credit to the same amount to another N/L account). These may be handled as Journal Entries. Alternatively some N/L transactions may be conducted through the Cash Book module. This has specific routines for Manual Receipts (i.e. receipts from bodies which are not represented by an account in the Sales Ledger) and Manual Payments (i.e. payments to bodies which are not represented by accounts in the Purchase Ledger). The Cash Book module works in close conjunction with the Nominal Ledger, since it does not contain it's own accounts but operates directly on N/L accounts. Within the accounts engine, there are a number of other modules which enable efficient and effective management of all aspects of an organisations accounts. These are:
Other Ledgers, specifically addressing different organisational needs are catered for, and integrated into the one enVisual solution. These modules are enPractice, for time billing purposes enFee, for Sales Ledger enPurchase, for Purchase Ledger, and enPortfolio for Investments.
enAccount screen tend to follow a standard layout, where the header line identified the Entity, the Period being reviewed/processed and the base currency of the entity. The entity will default to the preferred, user selected Entity and Period.
For help with maintaining this module, please see the enAccount Maintenance Section.