Vailtech has been serving the needs of municipalities for over ten (10) years, and is recognized as the premier supplier of highly effective Billing Systems. More mid to large Ontario municipalities use Vailtech's Tax System than any other System.  Vailtech also offers a full suite of integrated financial applications.

The General Ledger System is a complete management information module that collects and summarizes data transactions from all other subsidiary applications. The system permits comparisons between Current and Year-to-Date Actuals, and both Last Years' and Budgeted figures.

The General Ledger System   is written in Oracle and requires either an Oracle Standard Edition or Enterprise Edition database. General Ledger runs on Microsoft based servers, and workstations, and runs across either Microsoft or Novell Lans. The Systen is scalable offering both mid and large size organizations the same robust functionality.

• The account number permits a user-defined maximum of 40 digits, with up to 15 sub-account breakdowns. The structure of the account number is at the discretion of the user.
• Several trial balance options are provided, and the free-form financial statement program supports user-defined formats.
• Security controls are built-in at application, function, and field levels.
• All external integration functions (e.g. posting from other Vailtech system modules to the G/L) are controlled by the General Ledger system.
• Cheque reconciliation
• Full audit trails, and books of original entries with references to allow tracing back to the source document
• Full flexibility in setting-up accounts structure, with the ability to add, change or correct account name, and delete obsolete accounts in which no transactions exist
• Virtually unlimited number of accounts, with virtually unlimited funds
• Allows Encumbrance Accounting (optional by account, ie., "All," "Selective" or "None")
• Special tax accounts identified in G/L for rebate or payable calculations
• Interfund accounting with "Due To" and "Due From" accounts identified

  G/L Companies:

• Up to 99 companies
• Each company can be processed independently
• Each company features its own chart of accounts, accounting periods, fiscal year, reports and statements

Financial Data:

• Monthly, and YTD balances for current fiscal year, and next year for each account
• Monthly budget for current year and next year for each account
• Monthly forecast for current and next year for each account
• Monthly and YTD balances for last year for each account and budget
• Account number, amount, accounting month and year for each transaction
• Date for each transaction
• Journal source (direct G/L or interface system) for each transaction
• Journal number for each transaction
• Reference code or number and explanation for each transaction

Chart of Account:

• 40 characters in the account number, including delimiters (periods)
• Up to 15 levels of management responsibility reporting
• Each level can have up to 999,999,999 codes (for divisions, departments)
• No predetermined ranges of account numbers; you can freely design your own chart of accounts
• Funds can be used to balance sets of accounts within each company
• Accounting Periods: 12 periods per year, Fiscal year end is determined by user

Journals:

• Post journals any time in the accounting period
• Posting to this and next month; all other periods password protected
• On-line journal entry, change and delete capability
• Journals can have descriptions
• Forced balancing at entry (voucher) and journal level
• Balancing of debit and credit totals
• Make corrections by modifying unposted journals or by entering corrective journals
• General Journal by Login; a separate journal for each user

Recurring Journals:

• Automatically generate recurring journals entries
• Automatically generate accrual reversals
• Allocation capabilities such as fixed percentage, variable percentage, specific amount
• Select specific entries for posting

Balancing Reports:

• Journal lists (voucher registers) for verification
• Several trial balance options
• Any account range
• At any reporting level for all or any specific areas of responsibility
• Across one or more accounting periods ( monthly, quarterly)
• Include balances only, or all transactions
• Select working, journal, or detailed format

Reporting:

• Design reports to your own specifications with a flexible report writer
• Look at all reports on-line as an inquiry function or print the reports
• Design column and report headings
• Retrieve any account data in any sequence
• Customer-selected summary or detail level accounts
• Choose any accounting period or range of periods
• Show current month, last month, YTD amounts
• Do variance calculations
• Do percentage calculations, such as expenses as percentage of sales
• Combine information for multiple organizations
• Balance forward of detail account data is available
• Inset descriptions (no need for title accounts)
• Perform eliminations during consolidation reporting
• Experiment with variances and variance percentages