Integrated Accounting With Full General Ledger

Protractor's accounting features are not modular. They are so tightly integrated that they can't be separated into modules. All the accounting features are included with the software.

Accounts Receivable

The accounts receivable is completely integrated with the invoicing system and invoices posted on account are immediately posted to receivables in real time.

Accounts Payable

The accounts payable is completely integrated with parts being received. In an auto repair shop, the bulk of payable entries stem from parts being received for resale several times a day. Protractor integrates this process and builds the accounts payable as parts are being received. All the accounts payable staff are required to do is review the transactions instead of re-entering them.

Tax and Payroll Remittance

Protractor automatically tracks all taxes collected and paid out and allows you to produce your tax remittance at the push of a button. The same is true for payroll. If you use the software's payroll entry features then it will track and automated the remittance for you.

Cash Reconciliation and Bank Deposits

As invoices are posted, paid outs made, and payments on account taken, Protractor is automatically keeping track. You can then reconcile all your methods of payment in the cash balance dialog and prepare your bank deposit. The deposit is directly integrated to the bank accounts.

Bank Accounts and Credit Cards

The software allows you to define as many bank and credit card accounts as necessary. These accounts are completely integrated throughout the software. As you make deposits and process payments the entries to these accounts are automatically made. When you receive your statements, you simply need to reconcile it.

General Ledger and Financial Statements

Protractor has a completely integrated general ledger with chart of accounts that can be customized. It supports all asset, liability, revenue, expense and equity accounts. It never deletes data so if you have been using the software for ten years, you can view and report the detail for ten years. As a result, you can generate income statements and balance sheets at any time - in real time.

Multi Location Accounting

If you run a multi location operation, each location has its own general ledger or "set of books". They can run them independently as a completely separate company or you can choose to centralize receivables, payables and bank accounts. You can also split expense entries across locations and run consolidate financial statements.