What Can Akoe Do?

General Ledger

General Ledger is the core accounting module. It includes accounts, departments, and funds, as well as fiscal years with definable and individually closeable fiscal periods, and budgeting. Every transaction must include an account, a department, and a fund in order to post (and of course, be balanced).

It provides general journal functionality for "close to the metal" accounting, and is the backbone for many other areas such as donations, deposits, bank accounts, requisitions, and so on. And of course, it provides full financial statement reporting as well as detailed reporting on individual account activity as required.

Akoe has very robust chart of accounts functionality, and allows you to "nest" your accounts to any depth. For example, you might create an expense account called Telephone, and then subaccounts of Telephone such as Land Lines, Long Distance, and Cellular. You are free to flag the Telephone account as allowing posting directly, or to disallow posting and use it only as a parent heading for it's subaccounts. Any reports based on the chart of accounts can then be generated at whatever detail level you prefer, with subaccounts rolling up into their parent account at lower detail levels (in the Telephone example, you could generate a report showing the individual Telephone subaccounts and their respective amounts, or you could show just the Telephone parent account which would then include the total of it's three subaccounts).

Since every transaction in Akoe includes both an account, and a department, a good rule of thumb is to define your Chart of Accounts to strictly represent what the money was spent on, and define your Departments to represent who in your organization spent the money. This allows for very powerful reporting since most financial reports can be filtered to show results for just a single department, or for the organization as a whole.

Similarly, Akoe provides the ability to define as many funds as you require in order to track your unrestricted operating funds separately from funds restricted for a specific purpose (either internally, or externally by your donors). Financial reports can be filtered to show results for a single fund, or for all of the funds combined. In combination with the ability to filter by specific Department at the same time, this allows for very powerful and fine-grained reporting on any combination of department and fund that you may require.

The included budgeting functionality also makes use of the department and fund dimensions and allows you to enter budget figures for any combination of department and fund as necessary. Financial statements provide the option of including budget columns to analyze actual results alongside budget figures as desired.

In addition to the general journal functionality, Akoe also provides deposit worksheets and payment worksheets for routine recording of receipts and issuing of payments. The worksheets provide a friendly, efficient interface that allows every day data entry without requiring intimate knowledge of the debits and credits behind the scenes.

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