Lightwave Accounting Software
Lumensoft Lightwave Accounting Software makes the day to day accountings operations an easy job, thereby allowing the management to focus on core business activities and get ahead of the competition. It provides quick and easy implementation, accurate and timely processing of all the transactions, and improved decision support through better reporting and analysis. It enables you to make informed strategic and operational decisions at moment’s choice.
- General ledger enable the users to define chart of accounts up to four levels
- Multi Company and Multi Location capabilities are provided in the general ledger. Facility is available to view accounts of every company separately, or to generate consolidated accounts of all companies
- Financial year closing automatically updates profit and loss account and balance sheet reserve account. User can open any closed financial year to reverse the effects. At any given time multiple years can remain open. User can select the financial year in which he want to do work
- Any ledger can be viewed across multiple years within specified dates. These ledgers can also be generated for single company or multiple companies
- A range of ledgers can be viewed and printed with one-click operation
- Each GL account can be assigned a status – active or inactive. Vouchers cannot be posted to inactive account(s). Also these are not shown in different screens and reports
- Voucher re-numbering utility is provided. This utility can be used to generate fresh voucher numbers for selected Accounts. This helps in managing voucher serial numbers, after deleting undesired vouchers
- Selected vouchers can be marked and flagged. All financial statements and ledgers can be generated with or without these marked vouchers
- Bank reconciliation can be done through the system and thus system maintains up-to-date information of un-presented and un-credited cheques. System can show the status of banks according to ledgers or bank account for any previous date
- There is a provision of temporary vouchers management in the system. Temporary vouchers are assigned separate serial numbers. These vouchers can have multiple entries of same account and are mainly used for managing the day-to-day or petty expenses. When these vouchers are posted then these are converted to standard vouchers (CPV, BPV etc.) and all voucher entries are consolidated
- Chart of Account report
- Profit & Loss statement
- Profit & Loss notes detail report
- Balance Sheet
- Balance sheet notes detail report
- Ledger Mapping report
- Ledgers printing – with & without details
- Trial Balance
- Bank Re-conciliation report
- Bank position Report
- Cash flow statement
- Daily activity Report
- Transaction Listing
- Voucher Printing
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Some frequently asked questions about lightwave accounting software are listed here. If you have a question not listed here, you can always contact us.
Q. I have a small business and have little accounting background. Can I take benefit from Lumensoft Lightwave Accounting Software?
Yes. Lumensoft Lightwave Accounting Software is extremely easy to use and yet it is powerful enough to give complete insight into the business. It manages all ledgers and provides essential financial statements like trial balance, balance sheet, and income statement.
Q. I run three (3) businesses and I want to manage separate accounts for these. Also I would like to roll up and see combined picture of all my three businesses. Can Lumensoft Lightwave Accounting Software do this for me?
Yes. Lumensoft Lightwave Accounting Software is can be configured as multi-company accounting system. You all three businesses can be defined as separate companies into the system and accounts will be managed separately. You will be able to generate financial statements like trial balance, balance sheet, and income statement separately for each of the three companies. Also you will be able to generate combined financial reports like balance sheet.
Q. How much effort is required at the close of financial year? Do I need to adjust the profit and loss ledgers and make them zero? What happens if I need to reopen the financial year?
Lumensoft Lightwave Accounting Software makes it very easy to close a financial year. If required, any closed financial year can be opened by administrator. At year end the financial year is closed and all balance sheet entries are automatically moved to the opening accounts of next year and year end profit/loss is automatically calculated by the system and posted in respective account.
Q. I have seen some software which restrict the ledgers to be viewed within a particular financial year. It is possible to view ledgers across multiple years?
Yes. Lumensoft Lightwave Accounting Software allows you to view any ledger for any period. This period may extend across multiple years. The software automatically handles the year closing process for ledgers.