A Superior System for Financial Reporting, Projections, and Budgeting
NetSolutions General Ledger is a powerful tool that offers flexible and user-defined formats for financial statements.
Multiple formats can be created, saved and re-used, such as statements with different summaries or in alternate account order. GL meets the needs of multi-facility organizations by handling each facility’s data separately as well as providing flexible consolidation configurations and facility-comparison reporting.
Bank Account and Account Inquiries
Instantly retrieve all data entered in GL with Inquiry features that deliver quick summaries and useful details.
The Bank Account Inquiry Function gives you running balances for each bank account. It combines deposits from AR-Billing, checks from Accounts Payable, net payable amount from your Payroll system, miscellaneous cash or bank transfers, and calculates your current cash position by bank account.
The Account Inquiry Tool offers complete information on each account, displayed by Summary, Transactions, and Distributions. Under Summary, you’ll see actual and budget dollar amounts by year and YTD with variances. The Transaction tab displays details including control and reference numbers, date, and description.
Per-Patient Day Statistics
Per-patient-day (PPD) statistics add a whole new level of meaning to budgeting and profit/loss. Create PPD budgets and track performance using payroll data and census data from NetSolutions AR-Billing.
The software divides dollars by actual patient days from AR-Billing. It can control for type of days such as nursing unit, level of care, and payor type.
With PPD you see statistics per patient day such as:
- Nursing hours
- Food costs
- Laundry costs
- Total cost
General Ledger provides user-friendly features that simplify budget creation, such as the option to bring forward previous budgets and edit them for the next budget. This allows monthly budget amounts or an amount per patient day.
Choose the budget method you prefer:
Variable Budgeting: budget a fixed amount per month or a Per-Patient-Day amount with the PPD amount multiplied by budgeted or actual days using census data.
Budget Maintenance: add, update, delete, and view budget dollar amounts for a prior, future, or current fiscal period for a selected general ledger account
Budget Inquiry: view current, prior, and future budget information for the general ledger account you select. Enter your search criteria to see actual and budgeted dollar amounts for the current and prior budgets with variances available by dollars and percentage.
Journal Entry Tools
Self-balancing: The General Journal process displays a warning message if account distribution is not in balance.
Prior period adjustments: Make changes to a prior year/period after it has been closed. General Ledger (GL) can automatically bring changes forward to current balances.
Templates: Set up a framework for journal entries (general, standard/recurring, and prior-period adjustments) to standardize input and speed posting.
During month-end processing, GL automatically imports transactions from other applications with the option to print reports before finalizing. It inserts reversing entries, calculates retained earnings, and sets the system for the next month.
Closing a year is just as easy as closing a month. GL accepts prior-year adjustments and offers the options of changing subsequent balances and re-running all your reports for prior months.
Trial Balance report: Generate a departmental trial balance report for the time periods you select. The report can show account detail or a summary with only the department debit and credit totals.
- Options for budgeting amounts monthly or per patient day and statistical budgets of patient days
- Ability to use multiple budget types within a budgeted year
- Maintains future and historical budgets
- Offers four methods to spread budget dollars
- Accepts prior-period/year adjustments and can bring them forward to change current balances
- Supports multiple-facility processing, consolidation and comparison reporting
- Exports budget data to Excel spreadsheets where it can be modified and the changes imported back to current and future budgets
- Imports transactions from third-party systems, including ADP for payroll
- Drill down and see how budget compared to actual with variance
- Provides departmental analysis of income and expenses for current and prior years
- Integrates with NetSolutions AR-Billing and Accounts Payable in single SQL database
- Supports posting invoices as entered to update GL data
- Handles a flexible chart of accounts numbering system
- Provides preliminary financial statements
- Supports tracking of invoices entered
- Provides departmental income and expense comparisons by inquiry and report
- Enter recurring journal entries with an ending date
- Records, maintains, tracks, and reports non-third-party cash receipts
- Security can be set by user and group to edit, view only, or no access (the default setting)
- GL number lookup throughout – you never have to remember a GL number
- Supports re-running reports for the previous period
- Enter transactions for the current month that are automatically reversed for the next fiscal period
- Quick Update button to access and update debit and credit fields for each distribution entry
Reporting: Standard or Custom
NetSolutions GL offers both standard reports and a report writer for custom reporting. The on-demand reports delivered with the software include:
- Income Statements: Budget Variance, Per-Patient Day, Current and Prior, Month-to-Month Comparison
- Labor reporting: Per-Patient- Day Current and YTD, Month-to-Month Comparison of PPD Hours and PPD Labor Cost
- Resident Day reporting: Budget Variance Current and YTD, Month-to-Month Comparison
- Ancillary Statistical reporting
The NetSolutions GL Report Writer is a strong tool, able to support you in creating monthly comparison reporting across fiscal years, and linking or combining multiple reports into one. It requires no maintenance because it pulls from the chart of accounts. Custom reports and their modified versions can be saved and re-used.
This GL Report Writer can define reports by range of accounts, simplifying setup, and eliminating maintenance when new accounts are added to the chart of accounts. It offers reporting based on account number statistical codes and printing up to 198 characters per line, landscape, or portrait format.
General Ledger is part of the NetSolutions system of Web-based software. It integrates with NetSolutions AR-Billing and Accounts Payable in a single SQL database.