Lightwave GL
- Flexible Chart of Account (COA)
- Automated Year End closing process
- Posting and search of vouchers
- Customer receipts with receivable ageing
- Bank Reconciliation
- Generation of Balance Sheet
- Multi-Company Account System
- Easy to use voucher entry screen
- Temporary voucher facility for petty cash management
- Vendor payments with payable ageing
- Management of User Access and System Security
Flexible Chart of Accounts (COA)
LumenSoft Lightwave Accounting Software provides a hierarchical chart of accounts featuring up to five levels. The initial level remains fixed, containing the capital, assets, liability, income, or expense. The remaining four levels are customizable, allowing users to customize the chart of accounts (COA) to align with their business requirements.
Multi-Company Accounting System
With support for multi-company functionality, financial reports such as trial balances, balance sheets, and income statements can be generated separately for each company. Users also have the option to consolidate data from all companies to generate comprehensive reports. Individual company reports display specific titles, while consolidated reports show the designated head or corporate office.
Automated Year-End Closing Process
Simply the year-end closing procedures. Administrators can close financial years and, if necessary, reopen closed periods. At year-end, the system automatically transfers balance sheet entries to the opening accounts of the subsequent year and computes year-end profit/loss. Ledger information over multiple years can also be accessed.
User-Friendly Voucher Entry Screen
A user-friendly interface is featured for voucher entry and view screens, facilitating efficient entry of vouchers. Easy navigation allows users to retrieve previously entered detailed vouchers easily.
Posting and Search of Vouchers
A quick and easy way to search for required vouchers, where users can post and un-post vouchers on a single screen. Select vouchers based on a flexible criteria, and selected vouchers can be viewed on the voucher screen for easy viewing or editing with a single click.
Temporary Voucher Facility for Petty Cash Management
Incorporating a temporary voucher feature for managing petty cash. This feature eliminates manual or spreadsheet-based workflows by enabling users to input day-to-day transactions into temporary vouchers. Unlike standard vouchers, temporary vouchers permit duplicate entries for any GL account. These entries can later be converted into standard vouchers, automatically merging and consolidating repeated account codes.
Customer Receipts with Receivable Aging
A facility to manage customer receipts and receivable aging. Receivables are categorized into different calendar periods based on sales vouchers (SV).
Vendor Payments with Payable Aging
A feature facilitating streamlined management of vendor payments and payable aging. Payments are categorized into different calendar periods. This aging is based on payable vouchers.
Bank Reconciliation
A feature to keep the bank ledgers reconciled and up to date. When cheques are credited and presented, they are marked as “Credited” and “Presented” in the system. A view screen is used to see the bank position on any given date along with the pending cheques for that particular date.
Management of User Access and System Security
Prioritize software security by granting access only to authorized users with appropriate privileges and rights. Users can be assigned specific permissions, dictating their access to screens and actions within the system. For instance, users may be permitted to enter vouchers but restricted from modifying or posting existing entries.
Generation of Balance Sheet
A feature enabling users to generate balance sheets securely. Access controls ensure that only authorized users can view or interact with sensitive financial data.