The General Ledger is recognized as the heart of the financial reporting system. It is designed with best business practices in mind, including a particular focus on Generally Accepted Accounting Principles (GAAP). The efficiency of the MAX Hospitality General Ledger system is unprecedented. With MAX Hospitality, books will be closed at the end of the period with reports in the hands of management within three days.
Automated Journal Entries
All MAX Hospitality modules automatically post to the General Ledger. Journal entries from outside sources are easily posted.
Various strategies can be applied to perform inquiries into the General Ledger. These inquiries include filtering by accounts, departments, and time periods. All inquiries will show postings to the General Ledger and where available will reveal a scanned copy of an invoice. The system is created to perform specific queries in search of specific dollar amounts, descriptions, or invoice numbers.
Excel remains a popular source for journal entries. Our uniquely developed system and other analytic tools will also allow the export of the General Ledger in its entirety, for a specific accounting period to Excel. You can enjoy the convenience of using the power of Excel to sort, filter, and summarize as required for any ad-hoc analysis. Specific data requirements are completed faster and easier for the business.
Closing of Accounting Periods
Authorized individuals can close prior accounting periods prohibiting further posting to those closed periods. This ensures that financial information previously distributed to investors, management, and properties is not changed accidentally.
Workflow and Controlled Access
High-level management decides who gains access to specific capabilities on the General Ledger. This facilitates the separation of responsibilities and supports the desired workflow. For example, one person may have the ability to make journal entries only. A second person in management would have access to review the journal entry and then post it to the General Ledger.
The MAX Hospitality System facilitates the adding of new properties quickly and easily. Our system is fully scalable, allowing ease of growth with your business without the need for additional software.