Choosing an Accounting System Checklist
   
Needed Y/N Feature
   
 

Chart of Accounts
  Industry Specific Charts of Accounts
  User Defined Segment Lengths
  Delete Segments Not Required
  Copy Range of Accounts to New Reporting Units
  User Defined Account Ranges
  Copy Chart of Accounts to New Company
  Department
  Profit Center
  Company
  G/L Account Code Supports:
  Active Accounts
  Inactive Accounts
  Allocation Accounts
  Accrual Accounts
  Inter-Company Accounts
  Event/Project Costing Accounts
  Statistical Accounts
  Supports Budget Groups
  Define Separately Major Structures for:
  Divisions
  Departments
  Operating Units
  Regions
  Profit Centers
  Cost Centers
  Budget Groups
  Projects
  Activities
  Define Valid Accounts for Reporting Units:
  Define Table of Valid Accounts
  Delete/Add Accounts Automatically
  Copy Table to New Reporting Unit
  Define Major Structures Using Tree Diagram
  Define Reporting System Using Tree Diagram
  Consolidate/Split Reporting Units:
  Consolidate Reporting Units
  Split Reporting Units
  Manual Only Through Journal Entries
  Automatic as New Structure Defined
  Maintains Full Audit Trail and Validity Check
  Allocation Account Processing:
  Single Allocation
  Waterfall to Other Allocation Accounts
  Percentage Allocation
  Dollar Allocation
  Supports User Defined Formulas
  Forces Zero Ending Balance
  Allocation Formulas Based Upon:
  G/L Financial Accounts
  Statistical Accounts
  Budget Accounts
  Sub-Ledger Totals
  Sub-Ledger Field Values
  Beginning Account Balance
  Ending Account Balance
  Average Account Balance
  Net Account Balance Change
  Values Imported From Third Party Application
  User Defined Constants
  Step Threshold Values
  Complex Multiple Factor User Defined Formula
  Supports Amortization Tracking Routine:
  Maintains Separate Files for Each Item
  Print Multi-Column Summary for Current Year
  Print Tables of Expenses for Each Item
  Post Expenses Automatically Each Period
  Supports Prepaid Expense Tracking Routine:
  Maintains Separate Files for Each Item
  Print Multi-Column Summary for Current Year
  Print Table of Expenses for Each Item
  Post Expenses Automatically Each Period
  Supports Multiple Account Levels
  Segregates Subsidiary Schedules