Application Overview

The primary feature of General Subsidiary is its flexibility. It can be used to track any subset of accounting figures that you might want.

A subsidiary code can utilize any number of accounts; for example, if you are tracking the cost of producing a particular product, you would need to know what portion of the total cost was wages expense, what portion was purchase expense, what portion was inventory, and so forth. Each of these items would be a different account. In the same manner, an account can be included in as many subsidiary codes as necessary. The combinations of account number and subsidiary code are defined in the Subsidiary Codes by Account file.

Varying amounts of detail information can be kept. You can keep all the detail; you can keep detail just for the current fiscal year; or you can keep detail only for the current month. You can summarize the detail monthly or annually and place the information in a “Balance Forward” record. Also, beginning balance, debits, credits, month-to-date totals, year-to-date totals, and life-to-date totals are kept for each combination of account number and subsidiary code.

There are a wide variety of reports available in General Subsidiary. Most reports can be organized and printed by subsidiary code as well as by account. Reports include Transactions by Subsidiary Code, Transactions by Account, Balances by Subsidiary Code, Balances by Account, Budget Comparison by Subsidiary Code, Budget Comparison by Account, Summary by Subsidiary Code, and Summary by Account. You can also print a Chart of Accounts with Subsidiary Codes and a Trial Balance with Subsidiary Codes. In addition, several inquires allow you on-line access to the information.

General Subsidiary requires General Ledger to operate, and indeed is assumed to be in the same accounting period as General Ledger. To ensure that this will always be the case, you can choose to have the Close Month utility in General Ledger also close the month in General Subsidiary.