Financial Accounting

Description

Active Data Online Financial Accounting is an asp.net 3.5 financial accounting information system.

The system can record, store and find accounting journal entries, manage recurring entries automatically, provide financial control and an audit trail, close all temporary accounts and generate a balance sheet and an income statement, record and report on cash flow, and optionally record and summarise Australian GST data.

The chart of accounts is flexible. The system can be set up to manage unlimited subcategories and accounts, in any hierarchy, and even controlling and contra accounts. There are four special purpose journals -- cash receipts, sales, cash payments, and purchases -- and a general journal.

Financial Accounting can be used by small, medium, or large enterprises. It is suitable for sole proprietorships, partnerships, and companies. The system is consistent with generally accepted accounting principles (GAAP).

The system runs on the Microsoft .net 3.5 platform. It requires a relational database. It supports Microsoft SQL Server, Microsoft Access, Oracle, MySQL, and PostgreSQL. The product includes the Financial Accounting system (an asp.net Web application with ajax), a recurring-journal-entry server (a .net Windows service application) and a recurring-journal-entry server management console (a .net Windows Forms application). The architecture is open, extensible, scalable, and consistent with .net 3.5 best practices.

This product is sold under a special source code licence agreement. It is available only to Australian based information technology consulting companies that want to provide for their clients a customised solution with a financial accounting component.

Page Menu

Key benefits

Why choose Active Data Online Financial Accounting?

It is compliant with generally accepted accounting principles (GAAP).
It is consistent with most financial reporting standards.
It is designed to work with any chart of accounts, including contra and controlling accounts. It can even support the introduction of new accounts as your business changes.
It includes a recurring journal entry server that re-enters data rather than reminds users to re-enter data.
It tracks cash flow directly rather than infer from profit and loss statements.
It automates the process of generating balance sheets and income statements.
It accounts for GST separately and can generate Australian Tax Office compliant GST business activity statements.
It is a relational database application. Some accounting software are based on closed, proprietary data structures that are not accessible or extensible. With an RDBMS based solution, your company can adapt and extend the data schema and create a larger information system with more functionality. With an open solution, you can do things such as programmatically record a journal entry when a sale transaction occurs in another system. What's more, you can share your accounting data with a data warehouse or another management information system in real time.
It is database neutral. It supports 5 different relational database systems: Microsoft SQL Server, Microsoft Access, Oracle 10g, PostgreSQL and MySQL. This means you won't be locked into a single database vendor.
Its architecture is clean and scalable.
Its user interface is friendly and quick, built using Microsoft ajax (asynchronous javascript and xml) extensions.
It runs on Microsoft .net 3.5, which is the fastest, most powerful and most secure business applications platform today.
It is an inexpensive multi-user, enterprise-wide, financial accounting information system. Similar systems from SAP, Oracle and Microsoft Dynamics cost tens or even hundreds of thousands of dollars.
It is sold with source code (C#). This allows your company to completely customise and adapt the system and its user interface to meet your needs.
The source code licence permits you to embed the software into a larger system, and sell or rent the resulting system royalty free, as long as you agree to terms of the licence. This means you can use Financial Accounting as the foundation of your bespoke enterprise system instead of having to build one up from scratch.

Page Menu

Current version

Version: 7.0

Release: 26 February 2008

Note: If you are an existing customer you may be entitled to the current version free of charge, per Active Data Online's version policy.

Page Menu

Flash videos

Page Menu

Demonstration

Available on request.

Page Menu

Features

Financial Accounting is a Web-based, multi-user accounting information system.
Accounting is an essential part of running a business. See an example of an accounting system in the perfectcompetition business game.
The chart of accounts is flexible. The system supports any number and hierachy of accounts including subcategories, and controlling and contra accounts. The system ships with four sample account sets, including sets for companies and sole proprietorships. Categories and accounts can be added and deleted after the start.
There is a general journal and four special purpose journals -- cash receipts, cash payments, sales and purchases. Data entry for the special purpose journals is simplified.
The system includes a recurring journal entry server. Thus, journal entries that are supposed to recur are entered automatically at the correct times (by contrast, most other accounting systems merely remind users to reenter transactions).
Transactions can involve multiple currencies. Currencies can be updated in real time by external systems via XML. The system will store the amount, the original amount, the original currency and the applicable cross rate.
Source documents can be recorded and stored for audit reasons.
The look-and-feel of a journal is consistent with traditional accounting journals.
Journal entries must be posted to the ledger accounts in accordance with internal financial control best practices.
The history and running balance of every account is stored.
Deleting an account with data will not remove the account, its history and past financial transactions that include the account.
The system can automatically close all temporary revenue and expense accounts and generate a balance sheet and an income statement (sometimes known as a profit and loss statement).
The system does not automate the process of generating a statement of changes in equity. The statement must be prepared manually.
Cash flow is accounted for using a direct approach. The system can generate a cash flow statement for any period.
The system can account for Australian GST and present an ATO compliant business activity statement.
Past financial transactions can be searched by date, description keywords, accounts and amount.
The setup is convenient and simple.
The user interface is intuitive, sensible and quick. It makes use of ajax technology.
The data store is relational and open. Some accounting systems use a proprietary, non relational data store, and therefore are not as scalable, flexible and extensible as this system.
The system supports several databases: SQL Server, Access, Oracle, MySQL, and PostgreSQL.
The architecture is tiered, robust, scalable and secure.
The Web application protects against sql injection attacks, cross scripting attacks, viewstate attacks, and postback spoofing attacks.
The connection string is placed in the connectionStrings section of Web.config. It is possible to encrypt the connection string using .net's aspnet_regiis.exe tool and RSA (public key encryption) for utmost security and peace of mind.
User access security is provided. Users must be vetted and granted access to specific parts of the application.
Users are authenticated automatically via Windows.
The system provides a searchable user guide, driven by an XML file that can be updated easily.
System and network errors are logged in a text file.
An application identifier is used to mark files, application settings, and session objects.

Page Menu

Regulatory compliance

Presentation of Financial Statements (AASB 101) - describes financial reporting standards
GST for small business (NAT 3014-07-2005) - describes how to account and report GST

Note: Every effort will be made to keep the latest version up to date with ATO requirements and other regulatory guidelines.

Page Menu

Languages

English

Page Menu

Product support

Registered customers may seek support via the online forum, free of charge.

If you discover any bugs or the like with the product, please report it immediately so that the product can be fixed as soon as possible and an upgrade can be provided to you, free of charge.

Page Menu

System requirements

Internet Information Server with Microsoft .net framework version 3.5 installed
Microsoft Windows XP with support for .net Windows services for the recurring journal entry server
Microsoft SQL Server 2005, Oracle 10g Release 10.2, MySQL 5.0, PostgreSQL 8.2, or Microsoft Access (.MDB provided)
Microsoft Internet Explorer 7.0, or newer

Page Menu

Trust level setting

If the application is going to be hosted within a shared environment, it is important to check that the host supports the asp.net trust level needed by the application.

The application can run at a medium trust level if using SQL Server; otherwise the trust level must full, high or medium but customised to include OleDbPermission, OdbcPermission and/or OraclePermission, depending on the database connection type. If using Access and OleDb, then OleDbPermission is necessary. If using Oracle 10g and OracleClient, then OraclePermission is necessary. If using Access, Oracle, MySQL or PostgreSQL and ODBC, then OdbcPermission is necessary.

Page Menu

Pricing and licensing

Source Code Licence: 11,000 Australian dollars, subject to the terms of the following four page licence agreement: the page 1, page 2, page 3, page 4.

Notes:

1. As per Australian tax requirements, a 10% GST is included in the price.

2. If you are an existing customer, and you have the same major version number as the current release, you can receive the current version free of charge. Contact Active Data Online via the messenging system of the customer support discussion board to receive your free upgrade. If you are an existing customer, and you have a different major version number from the current release, you can upgrade to the current version for 50% off the list price. In this case, you have to submit an order but with the price halved.

Page Menu

Order

Before submitting an order, please read the system requirements and the licence carefully.

To order, fill out and sign each page of the four paged licence contract, page 1, page 2, page 3, page 4 (save each as a text file and print the file out via WordPad), and send the contract together with payment to

Active Data Online Pty Ltd
P.O. Box 399
Sebastopol
Victoria 3356
Australia

Payment must be by bank cheque denominated in Australian dollars, made payable to "Active Data Online Pty Ltd ABN 83 095 152 453". (Important: personal cheques, money orders, cash and other forms of payments won't be accepted.)

Once received and approved, the contract will be signed by a representative of Active Data Online and sent back to you together with a CD containing the software, via Australia Post registered mail.

A sale is final and non-refundable.

If you have any questions or concerns, you can contact Active Data Online via the messenging system of the customer support discussion board.

Page Menu

Roadmap

Version 8.x

Silverlight 2.0 and WCF

Page Menu