Protractor's Integrated Accounting Modules

Overview

Each Edition of Protractor software ships with the same set of integrated accounting modules. While all the modules are included, users may choose to use only those modules which match their business requirements. Some enterprise accounting features are not applicable to Protractor Standard Edition.

Listed below are the accounting modules common to all Protractor Editions:

Accounts Receivable

Protractor's Accounts Receivable module is full-featured and tightly integrated with invoice generation and the general ledger. Account limits may be set by any Protractor user with proper security authorization. All accounts are user-selectable between the Balance Forward or Open Item purge methods.

A customer's account receivable may be accessed quickly from either Protractor's Contacts Manager or its Reports Manager. Accounts are automatically aged during the month-end purge. Customer payments may be made against Oldest Outstanding Invoices, against Selected Invoices, or simply On Account.

A unique and powerful feature called View Details allows you to see the historical details of any transaction. For instance, you may use View Details to see what payments or credits caused an invoice to be partially paid.

You may charge Service Charges on overdue accounts either automatically or selectively. Statements may be prepared and sent either via email or post. Detailed and Summary Accounts Receivable reports may be prepared and printed or exported using the Reports Manager.

Accounts Payable

Protractor's Accounts Payable module is full-featured and tightly integrated with it's receiving system and the general ledger. All accounts are user-selectable between the Balance Forward or Open Item purge methods. You may Apply Payment Terms to any invoice to reflect future payment due dates as per agreements between you and your suppliers.

A supplier's account payable may be accessed quickly from either Protractor's Contacts Manager or its Reports Manager. Your payments may be made against Oldest Outstanding Invoices, against Selected Invoices, or simply On Account.

A unique and powerful feature called View Details allows you to see the historical details of any transaction. For instance, you may use View Details to see what payments or credits caused an invoice to be partially paid.

Tools allow you to easily update Invoices, and create credit or debit adjustments. Detailed and Summary Accounts Payable reports may be prepared and printed or exported using the Reports Manager.

Taxes and Other Charges

There are a huge number of Taxes and Other Charges that various federal, state, provincial, county, and municipal governments require service businesses to collect and remit. And there are many ways those governments would like you to calculate those charges. Protractor software ships with most known Taxes and Other Charges already defined.

Should we have missed one, or a government comes up with a new one, Protractor has a Taxes and Other Charge authoring tool. Protractor's invoicing system automatically calculates these Taxes and Other Charges, and handles your remittances.

Taxes and Other Charges are an integral part of Protractor's general ledger, as are all Protractor's financial transactions.

You may also define and automatically pass on to your customers the cost of shop supplies used to repair vehicles, based on any criteria you choose.

Cash Reconciliation and Bank Deposits

Protractor allows you to balance your cash drawers and prepare bank deposits after any shift. You may easily close a shift after any period of time, from multiple shifts per day to shifts lasting several days or weeks. Protractor's Cash Reconciliation process is powerful, interactive and intuitive. Protractor tracks all Cash Drawer transactions, and during reconciliation, you simply check off each receipt as you find it. Tools allow you to record outages and prepare Bank Deposits.

Bank Accounts

Protractor allows you to record and control the transactions in all your business bank accounts so as to track an accurate and up-to-the-minute balance in each. As your bank statements arrive, you may easily reconcile them.

Supplier Cores Handling

Protractor's Supplier Cores module tracks cores that your technicians have taken off vehicles they fixed so that you can return them to your suppliers for credit. Cores originating both from Materials Inventory and supplied parts are automatically tracked.

Returned Goods Handling

Protractor automatically handles received goods which must be returned to a supplier for credit. Supplier Cores and Returned Goods are handled via Protractor's Returned Goods Bin, which is accessed from the Purchases Manger.

Management & Financial Reporting

You generate most management & financial reports using Protractor's powerful Reports Manager. Reports are generated based on a variety of applicable parameters, and all reporting periods are user-defined.

You use the Reports Manager to generate these reports:

• Invoice Summary and Cost Analysis Reports.
• Taxes and Other Charges Reports.
• Numerous Inventory Sales, Costs, History, Forecast and Physical Count Reports.
• Returned Goods Bin Reports.
• Accounts Receivable & Payable Detail and Summary Reports.
• Several Contact and Vehicle Reports and Lists.
• Technician Hours Reports.
• Service Reminders.
• Thank You Lists.

Using Protractor's Vital Signs screen, you may print Sales & Costs of Sales organized by Profit Centers and Service Categories for each Location, Division and the entire Enterprise. Audit Trail, Trial Balance, Income Statement, Balance Sheet and Account Journal reports are generated interactively using Protractor's General Ledger Manager.

All reports may be customized, printed and/or exported to other Windows programs. And it is a fairly simple matter for Protractor Services to prepare and deliver custom reports on any schedule your business requires.

Capital Asset & Long Term Liability GL Accounts

Protractor uses registers (similar to Bank Accounts) to record and control transactions which change the value of your Capital (or Fixed) Asset and Long Term Liability GL accounts. In these accounts you can track the changing value of such things as investments, capital equipment, mortgages, lines of credit, and buildings.

General Ledger

Protractor is shipped with a built-in Chart of Accounts. You may change Account names and numbers to suit your business requirements.

After Protractor writes a financial transaction to the applicable native database tables, it automatically posts properly balanced debit and/or credit transactions to its Audit Trail. Each Audit Trail entry is date/time stamped.

Account Journals are subsets of the Audit Trail which detail Audit Trail activity for a single Account. Journal totals verify individual account totals which are calculated from native database tables. For instance, the value of Materials Inventory as calculated from it native database tables must equal the sum of every Audit Trail entry written to that Account.

Audit Trail and Journal reports detail each financial transaction in your shop for whatever time period you specify. Reports may be printed or exported to other Windows programs.

Trial Balance, Balance Sheet and Income Statement reports are presented in GAAP (Generally Accepted Accounting Practices) format, and, when used with the Audit Trail provides verification and proof of in-balance accounting in your business.

All General Ledger functionality and reports are accessed from Protractor's General Ledger Manager.