Construction Software by Penta | General Ledger

General Ledger

1-262-782-7700

Driving Construction Accounting Best Practices for Contractors for 40 years

The heart of PENTA Construction Accounting Software is the General Ledger, a fluid structure defined by the combination of two entities: Organization Unit Id and Chart of Account #.

  • The Organization Unit is a user-defined hierarchical structure offering an unlimited number of entities comprising an unlimited number of levels that are used to describe your business units in the system.

  • The Chart of Accounts is a user-defined set of accounts that applies across all organization units, with the ability to restrict the use of individual accounts for a subset of organization units.

Revenue Recognition

PENTA automatically accrues revenue and posts transactions to the ledger for active jobs, work orders and maintenance contracts. Earned revenue calculations differ based on the type of contract items:

  • Lump sum
  • Cost plus
  • Time & Material
  • Unit Price

Revenue recognition calculations may be run on a user defined frequency.

Accounting Period Reporting Processes

There are several processes that help expedite the issuance of a financial report package for a specific reporting period:

  • Revenue recognition
  • Recurring journal entries
  • Fixed asset depreciation calculations
  • Currency translation
  • Period close
Foreign Currency Accounting

PENTA provides for accounting of transactions where the transaction’s currency is different than the base reporting currency. Foreign currency transaction values are automatically converted to a base currency equivalent using current exchanges rates.

Complete Financial Reporting

Financial reporting may be accomplished using standard PENTA reports or via user defined reports developed in PENTA Business Analytics reporting tool. Standard PENTA reports include:

  • General Ledger
  • Accounting journals
  • Trial Balance reports
  • Work in Process Subledger
  • Contracts in Progress reports
  • Accounts Payable Aging reports
  • Accounts Receivable reports
  • Financial statements
  • Balance Sheet reports
  • Profit & Loss reports

 

Find Out More

Have questions or want more information quickly?

Request a Call Back
  1.262.782.7700
  Email Us

Penta Technologies in the News



Penta Technologies named a Hottest construction software vendor for 3rd consecutive year


Penta Technologies Named one of Commercial Construction's Hottest Construction ERP Vendors according to the 2010 Constructech Magazine CT50 List.

Read the article...


Construction Software Implementation Best Practices

Learn construction industry software implementation best practices by reading Penta Technologies' feature article in CFMA Building Profits, the premier publication for construction accounting professionals.

Read the article...


All in One Place

“It is all there. You can see what is happening in real time.”

Read the article...


On Purpose Profitability

Learn the keys to continuous process improvement by reading On Purpose Profitability, Penta Technologies' feature article in CFMA Building Profits.

Read the article...

Penta Technologies, Inc.
250 S. Executive Drive, Suite 201
Brookfield, WI 53005
(P) 262.782.7700

© 2014 Copyright Penta Technologies, Inc. All Rights Reserved.
This site is powered by the Northwoods Titan Content Management System