Options is fully integrated with the Bank Account (Cashbook), Supplier (Creditor), and General Ledger modules, providing seamless management of your bank accounts, supplier payments, financial reports, GST, and a variety of other accounting-related reports. It's integration with the sales and stock modules offers numerous benefits, ensuring comprehensive financial management for your business. Options gives you complete control over your financial operations, streamlining processes and enhancing accuracy.

Click on the grey bars for more information.

Bank Accounts (Cashbook)

• Record All Cash and Bank Transactions: Accurately capture and categorise all cash and bank receipts and payments, ensuring that every transaction is tracked.
• Real-time Transaction Posting: Seamlessly integrates with the Sales and Supplier modules, automatically posting customer receipts and supplier payments to the relevant bank accounts in real-time, eliminating the need for manual data entry.
• Effective Date Tracking: Includes date tracking to manage the effective receipt or payment dates, especially when transactions are deposited or paid on different dates than when they are recorded.
• Handle Recurring Transactions: The ability to set up standard recurring postings, with quick selection options and the flexibility to edit them when necessary.
• Daily Bank Reconciliation with Transaction Ticking: Easily reconcile daily bank transactions with actual bank statements by using an intuitive, user-friendly screen for ticking and matching transactions. This feature helps identify cleared funds, manage unpresented payments, and streamline the reconciliation process.
• Bank Statement Importing: Allow for the easy import of bank statements in CSV format, compatible with most banking software, to streamline reconciliation processes.
• Track Receipts and Payments: Generate summary and detailed reports on receipts and payments, and allow users to view them on a monthly or year-to-date basis for better financial oversight.
• Transaction Editing for the Entire Year: Allows editing and adjusting of transactions across the entire year, enabling corrections when needed.
• Unlimited Bank Accounts: Support the management of an unlimited number of bank accounts to accommodate businesses with multiple accounts.
• User-Friendly Interface: The system is simple to use for both business owners and accountants, with an intuitive design and clear navigation.

Suppliers (Creditors)

• Manage Supplier Information: Organise and store comprehensive details about suppliers, including contact information, payment terms, and transaction history.
• Track Outstanding Invoices: Monitor and track outstanding invoices to ensure timely payments and prevent missed due dates.
• Duplicate Invoice Detection: Automatically identify and flag duplicate invoices from suppliers.
• Record and Match Payments: Accurately record supplier payments and match them to the corresponding invoices, ensuring that payments are applied correctly.
• Discount Calculation: Automatically calculate and apply prompt payment discounts when applicable.
• Payment Methods and Options: Offer various payment options (e.g., bank transfer, cheque, etc.), including electronic payments via ABA files that can be loaded into online banking systems.
• Payment Scheduling: Schedule payments based on due dates, helping manage cash flow and maintain strong supplier relationships.
• Dispute Management: Handle and resolve disputed transactions efficiently.
• Manage Multiple Suppliers: Manage and track obligations across an unlimited number of suppliers.
• Payment History and Audit Trail: Maintain a complete history of payments made to each supplier, along with an audit trail of all transactions for transparency and accountability.
• Bank Account Integration: Seamlessly integrate with the Bank Account module to ensure accurate reflection of supplier transactions in financial records, facilitating smooth reconciliation.
• Transaction Modification: Allow modification of supplier transactions in any period.
• Foreign Currency Support: Handle transactions in multiple foreign currencies.
• Comprehensive Reporting: Generate detailed reports on suppliers, including aging reports that show outstanding balances, overdue invoices, and payment due dates to support timely decision-making. Also, print a wide range of management reports, such as supplier purchase history.

General Ledger

• Generate Financial Statements: Print Profit and Loss Statements, Balance Sheets, and other financial reports to email, paper, screen, or file.
• Budget and Prior Year Comparisons: Compare actual financial results against budgeted figures or prior years’ data to assess performance.
• Departmental Accounting: Supports full departmental accounting, enabling detailed tracking of financial performance by department, cost centre, or as a consolidated report.
• Trial Balance Reports: Generate both standard and consolidated trial balances for accurate financial reporting.
• Drill-Down Capabilities: Provide drill-down functionality for detailed insights into transaction data.
• Multi-Company Support: Manage accounting and reporting for multiple companies within the same system.
• Management Reporting: Print management reports by department, cost centre, or as a consolidated report for comprehensive financial analysis.
• Financial Dashboard: Provides business owners quick summary information about their business and a number of KPI’s. It has been designed to provide quick financial analysis for Profitability + Liquidity, Cash Flow, and Activity + Solvency.
• Journal Entry Management: Post a variety of journal entries, including normal, standing, and reversing entries, with the added capability to import journals from an external file.
• Journal Entry Editing: Edit journal entries across any period to ensure accuracy and flexibility.
• Audit Trail for Journal Entries: Print journal batches for auditing purposes, ensuring transparency and compliance.
• Revenue and Expense Tracking: Measure and track all revenue and expense activities across the organisation.
• Visual Representation: Display line graphs of selected GL accounts, comparing data from the last 12 months of the current year and prior year
• Comprehensive Financial Control: Maintain complete oversight and control over all aspects of your company's financial reporting.

GST

• GST Reporting: Options supports both the Simpler BAS and Full Reporting methods.
• GST Adjustments: Automatically handles GST adjustments, including settlement discounts.
• Prior Period Adjustments: Support for prior period GST adjustments and reporting.
• Accounting Method: Uses the accrual (non-cash basis) method for GST accounting.
• Reporting Frequency: Supports both Monthly and Quarterly GST reporting.

Accounting Reports

Options reporting allows you to print, email, display to screen or export to multiple formats including PDF, Excel and Word. There is a wide variety of pre-defined reports including those mentioned below.

Debtors Reports

For reports relating to customer sales, payments, stock, deliveries refer to Sales/Stock Reports.

• Customers / Debtors Trial Balance: Generate a detailed or compressed aged trial balance by customer with various options to include certain ages or perform aging using different methods. Also includes an option to exclude deposits so users can see outstanding transactions only that should be settled.
• Accounts Receivable / Debtor Statements: Generate customer statements for businesses that extend credit, providing a summary of outstanding balances for settlement. Statements can be automatically emailed to customers with email addresses, including the option to attach copies of the outstanding invoices. For customers without email addresses, statements can be automatically printed for mailing.
• Business Analysis - Report with key financial information from the system including stock on hand value, creditors and debtors total balances, new orders and quotes for a period compared to orders and quotes done for existing clients etc.

Bank Account (Cashbook) Reports

• Bank Reconciliation: Perform year-to-date or specific-date bank reconciliations, showing reconciled bank account to bank statement balances, as well as outstanding receipts and payments.
• Receipts Audit Trail: Track bank account receipts, including those automatically posted from the Sales module, with the option to filter by GL account code or date range. Detailed debtor receipt breakdowns can also be included.
• Payments Audit Trail: Monitor bank account payments, including those automatically posted by the Suppliers module. Available by GL account code, date, or payment number, with options to display summary or detailed payment information.
• Account Lists: View transaction or monthly general ledger account posting totals for a specific date range or period. Payments, receipts, or all transactions can be optionally included.
• Bank Statement Audit Trail: Track bank statement transactions, with the option to include payments, receipts, or all transaction types.
• Cancelled Payment Report: Provide an audit trail of cancelled payments within a selected date range.

Supplier (Creditor) Reports

• Suppliers Master File: View a compressed or detailed list of supplier details.
• Suppliers/Creditors Trial Balance: Generate a compressed or detailed aged trial balance by supplier.
• Transaction Lists: Access an audit trail of transactions by general ledger account.
• Monthly Summary by GL Account: Get a summary of total transactions per month for each general ledger account.
• GL Dept/Dissection Lists: View detailed or summary transactions by general ledger department and account, or by account and department.
• YTD Purchases: Track total purchases per supplier, summarised by month and year-to-date, with options to select specific supplier types.
• Transaction Audit Trail: Access an audit trail of all transaction types by date range and supplier, with options for various report selections.
• Quick Summary: Quickly view total supplier balances and aging breakdown, along with a summary of commitments for the next two weeks.
• Payments Report: Generate an audit trail of payments by date, payment reference, or supplier, with both summary and detailed options.
• Supplier Account History: Generate a report summarising total transaction types per month for each supplier account.
• Accruals Report: List transactions from the current year relating to the prior year, for use in year-end accrual journal entries.
• Opening Balances List: View a list of opening balances at the beginning of the financial year.
• Control Account Reconciliation: Generate a supplier control totals report to ensure system integrity.

General Ledger Reports

• Financial Statements: Generate multiple versions of trading, profit and loss, and balance sheet reports. Include options for monthly comparisons, budget vs. actual analysis, variance reporting, and year-over-year comparisons for both the current period and year-to-date, with percentage comparisons.
• Transaction Batches: Maintain an audit trail of journal entry transactions.
• General Ledger: Provides a detailed or summary audit trail for each general ledger account.
• Chart of Accounts: Access a master list of all accounts in the chart of accounts.
• Departments Master File: Manage a master list of departments / cost centres.
• Control Account Reconciliation: Generate reconciliation reports for all system control accounts, ensuring that sub-systems align with general ledger control accounts.
• Cash Flow Statement: Create a customisable cash flow statement tailored to your business's specific reporting needs.

GST Reports

• GST Remittance Report: A comprehensive GST remittance report that consolidates GST data from all sub-systems into a single report. It includes subtotals for each BAS category, which can be directly transferred to the BAS. The system accurately manages all GST-related matters, including prior period adjustments, as well as discounts applied and received.