JADE Business

The bookkeeping function allows for the input of cheques to "payee accounts" used for quick payment to any general ledger account and for basic cheques allowing you to record the name of the payee. Payments of tax accounts including payroll deductions may be applied directly to the respective liability category. So, an amount owing for payroll deduction can be applied directly to the "Payroll Deductions Payable" account without first transferring the outstanding amount to the accounts payable sub-ledger before making the payment as in other software systems.

Since the change from issuing only cheques to paying by debit card or eTransfer instead, a new journal has been set up that works identical to the cheque register but it will not conflict with the cheque number issued from the cheque register but have a separate reference number.

The general journal allows for any type of journal entry linked directly to the general ledger and deals with the automatic splitting of GST/HST from accounts affected by GST/HST as it is with all journals. Foreign exchange can also be handled while making entries as the system uses the annual default rate used by CRA to calculate for example a US dollar amount to a Canadian dollar amount. Each journal entry allows for 100 debits and/or credits to an entry together with 15 lines of a description of the journal entry. There are many default descriptions that can be picked from or you may enter any description you wish.

The cash register (till tapes) works the same way as the general journal, however, the account numbers used as required to enter the figures from the till tapes will not be cleared off once the entry is saved. They come up when you go to the next day making it unnecessary to re-enter the account numbers.

There is also a bank transaction journal that works the same way as the general journal but in this journal, the bank account number appears automatically from line to line to save input time unless another account is recorded. Once all bank transactions have been recorded you are able to prepare the bank reconciliation by checking off all transactions that have cleared the bank and record the bank balance for the period end. This allows you to print the report for the bank reconciliation.

The GST and HST verification is exclusive to JADE Software Systems allowing the system to calculate the GST and HST owing or receivable using the regular or the quick method using the information from the capital asset file and the general journal entries for monthly, quarterly, or yearly filing.

The system allows for numerous reports for all the above functions. These reports may be viewed at any time, but they can also be printed, saved as a PDF or emailed directly to the client.