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MULTI-MODAL FINANCIAL APPLICATIONS

	General Accounting Functions
	General Ledger
	Fixed Assets
	Accounts Receivable
	Accounts Payable
	Project/Grant Tracking

General Accounting Functions

The General Accounting department's primary function is the coordination of the monthly, quarterly, and year-end closures of the general ledger, accounts payable, accounts receivable, fixed assets, inventory, purchasing, payroll, maintenance issues and rebuilds, revenue and ridership statistics, Section 15 reporting (National Transit Database), and grant accounting reporting functions.

Fleet-Net ® software provides a financial systems package that allows the user to perform all of these tasks in a single database. Resources available with Fleet-Net ® are Project Tracking, General Ledger, Fixed Assets, Accounts Receivable, Accounts Payable, Purchase Order Processing, Bar Code Inventory Management, Operator Timekeeping, Payroll Processing, and Human Resources.

The department is accountable during routine audits and must be able to review, analyze, and reconcile the general ledger and subsidiary reporting for accuracy. These audits also require audit of the data processing function. In addition, the department must have the ability to track the detailed expenses associated with a particular grant throughout the duration of the grant.

Fleet-Net ® includes user-friendly querying and reporting features designed to meet the specific needs of the transit industry.

General Ledger

The General Ledger program automatically places transactions into the holding files until the user is ready to update the transactions to the general ledger.

Transparent general ledger interface: User defined interfaces result in accurate and almost effortless transactions from the following subsidiary systems:

	Accounts Payable.
	Accounts Receivable.
	Fixed Assets.
	Payroll.
	Workorders.
	Vehicle Maintenance.
	Inventory.

Other journal posting options:

	General journal entries.
	Grant accounting entries.
	Reoccurring entries.
	Accrual entries and reversals.
	Prior period adjustments.
	Account balance redistribution by percentage or based on account totals.

Essential financial features:

	Updates only subsidiary journals in balance to the general ledger.
	Allows for a Multi-Modal Section 15 (NTD) based chart of accounts.
	Maintains a monthly account history that is automatically posted by the system.
	Keeps an automatic audit file of changes made to the chart of accounts or account history.
	Cross-reference account reporting.
	Automatic end-of-month and end-of-year account closings.
	Ability to suspend last year's financials while waiting for auditor's adjustments and still keep processing financials for the current year.

Standard Reports and Inquiries:

	Detailed account inquiries.
	Subsidiary journal listings.
	Chart of accounts listing.
	Chart of accounts audit.
	Account history audit.

Reports available by division or consolidated for all or multiple divisions for:

	Balance sheet.
	Comparative balance sheet.
	Income statement.
	General ledger.
	Working trial balance.
	Comparative analysis.
	Transaction journal.
	YTD general ledger.
	Budget analysis comparison.
	Budget variance report.

Consolidation feature allows for ad hoc financial information:

	Consolidate for specific departments.
	Consolidate for a range of departments.
	Consolidate for all departments.

Budgeting made easier:

	Budget by posting account or total level(s).
	Export actual revenue/expenditures to Excel.
	Import revenue/expenditure budget forecast from Excel.

Standard Budget Reports:

	Budget Analysis Comparison.
	Budget Variance Report.
	Consolidated Analysis Comparison.
	Consolidated Variance Report.
	Budget master listing.
	Income Statement with budget.

Fixed Assets

The Fleet-Net ® Fixed Assets program provides a very easy-to-use method for managing assets and depreciation. It enables users to automatically allocate depreciation expenses to each funding source based on the percentage of federal, state, and local/operator funds used for the acquisition. The Fixed Assets database provides 15 different ways to search or report on assets. Bar code interfacing is available.

Identify and track individual assets.

	Date acquired, date last depreciated, date last counted.
	Date fully depreciated, date retired.
	Description, classification, vendor name.
	Asset tag #, location, condition, use.
	Model number, serial number.
	State grant number, federal grant number.
	Asset cost, salvage value, current depreciation, book value.

Calculates monthly or annual depreciation.

Uses straight line method considering % of state, local, federal, and operator participation.

Interfaces to General Ledger.

	Class codes generate entries for accumulated depreciation, depreciation expense, amortization or prepayment accounts.
	Capital and grant accounting available for federal, state and local grants as well as offsets to accumulated earnings.
	G/L depreciation detail by individual asset.

Bar code tracking option available for annual physical audit.

Standard reports and inquiries available fifteen different ways.

	Reporting or inquiry by asset #, description , vendor name, date acquired, asset tag #, previous tag #, location, model, serial number, federal or state grant number, asset class, asset type, or person to whom asset is assigned.
	Asset inquiry.
	Depreciation report.
	Asset file listing.
	Fully depreciated assets.
	Asset audit trail list.
	Grant reporting.
	Assets purchased or disposed of during current fiscal year.

Accounts Receivable

Accommodates cash receipts, contract billings, and collections.

	Open item method.
	Detailed sales and payment history.
	Processes invoices and statements.

Maintains customer files.

	Customer name, address, phone.
	Date and amount for last invoice, last payment.
	Year to date sales, payments.
	Contract amount, terms.

Records invoices and general ledger posting accounts.

	Easy invoice entry.
	Ability to post COGS at time of invoice.
	Auto generate fixed amount invoices.

Records bus passes or tickets sold by type.

	Units and dollars sold for the past 12 months.
	Quantity and dollars sold month to date, year to date and prior year.
	Date last sold.
	Audit consignment sales of bus passes or tickets.

Receives cash and applies payments.

Standard reports and inquiries:

Sales inventory inquiry.

Aged trial balance.

Invoice printing.

Statement printing.

Transaction journal detailing payments, debits and credits.

Customer balance inquiry detailing open item and historical detail.

Invoice audit report.

Accounts Payable

Maintains vendor files.

	Pay to name, address, and phone.
	Order from name, address, and phone.
	Discount %, terms, federal tax ID, sales tax %.
	Type of goods sold.
	Last payment date and amount.
	Payments month to date, and fiscal year to date.
	1099 payments.
	A/P balance.

Interfaces with General Ledger and Purchase Orders.

Prints Checks and Vouchers. Laser checks or continuous form.

Auto checkbook reconciliation.

Select invoice items for payment. Uses various methods:

	Vendor/due date.
	Discount eligible invoices.
	Fixed expenses.
	Items by reference #.

Manual check processing.

Void/cancelled check processing.

Standard reports and inquiries:

Invoice audit by vendor.

Invoice audit by G/L account number.

Fixed expense listing.

Vendor history inquiry.

Monthly payables register.

Aged trial balance.

1099 statements.

Vendor master listing and YTD balance report.

DBE reports.

Payment selection inquiry.

Cash requirements journal.

Check register.

Checkbook reconciliation report.

Void check audit.

Project/Grant Tracking

Locate projects by:

Project number.

Description.

Federal grant number(s).

State grant number(s).

Local grant number(s).

Operator grant number(s).

Start date.

Completion date.

Department.

Maintains life to date information:

Budgeted amount by general ledger account number.

Budget remaining.

Expenditures for the life of the project. Able to span multiple fiscal years.

Grant revenues remaining by type.

Interfaces with General Ledger, Accounts Payable, and Purchase Orders.

Standard inquiries by:

Project number.

Description.

Federal grant number.

State grant number.

Local grant number.

Operator amount.

Start date.

Completion date.

Department.

Please call us toll free at (800) 258-2762 or e-mail us at:

support@fleet-net.com

Last Updated: Tuesday, April 11, 2006 03:04 PM