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General Ledger


Tradepoint accounting can be done in two major ways: 1. Through the General Ledger and 2. Through the client side A/R and A/P tabs.  This has been done to appeal to two different types of audiences.  The General Ledger will be preferred by accountants and those with accounting backgrounds.  There is an accounting version of Tradepoint that can even be purchased that allows an external accountant to synchronize and gain access to your General Ledger and any other accounting specific sides of the applications.


The Tradepoint GL looks and feels like any other GL.  All of your accounts are posted at the right of the screen and account balances are listed in the balance section the bottom of that area of the screen.  In the Tradepoint GL you can quickly search for specific names, invoice amounts entry dates and other criteria in order to quick reference and track bills or invoices outstanding.   The power of this tool is that it is live updated on a second by second basis and contains the complete accounting data of all of your corporation at all times.  The Tradepoint GL can be setup differently for every company or division you operate. 


As mentioned earlier the second way of operating Tradepoint accounting and the GL is through the client side tabs.  This way is preferred by small business owners and those who are actively running the company.  Tradepoint automatically performs all accounting adjustments when invoices are created, bills are received, invoices are paid, etc.   Therefore there is never a need for a business owner or manager to learn accounting procedures in their lifespan.  Not unlike how calculators outdatde our need to be able to compute sin, cos and tan equations, Tradepoint outdates the need to learn the accounting specific practices that are needed to run your company.  Tradepoint does it all for you.


Because there is no need human “data entry” to adjust books or update the GL and all accounting details is automatically completed, automated and cleared for you.  Accounting errors go down and it becomes far less complicated to do advanced reporting.  Not to mention the time savings experienced by not double entering data from websites, expense reports from staff act.    Because of Tradepoint’s rTradepointary accounting approach, Tradepoint is positioned to be the most powerful accounting package on the planet. 

Tradepoint’s accounting runs complies to every Generally Accepted Accounting Practise therefore there will be no unusual surprises when using Tradepoint’s accounting within your organization.


How do you bring your old accounting data into Tradepoint? 


It is suggested, in order to avoid Garbage in Garbage out scenarios to take your present accounting manager, export the data in a standard file format (comma delimited or access).  All of the most used applications allow for this.  After you have exported your accounting balances, you can then import those balances and GL figures into Tradepoint using our import tool.  Our import tool allows you to specify exactly how and where you would like your accounting data to be processed.  Tradepoint does allow direct imports from packages like Simply Accounting and QuickBooks however often companies allow users to enter data that can “blow up” the high level of management you are trying to receive.  For instance some packages allow you to enter negative value invoices to offset debit and credit accounts.  Other packages allow you to enter invalid date fields like “Tomorrow” instead of 02/05/06.  Importing “broken” data into Tradepoint runs the risk of “breaking” parts of your accounting practises.  That is why we politely suggest to simply import your present balances from your accounts and take things from that point in with Tradepoint accounting.  You can use your old accounting package to access old data and as time passes after a few years you can eliminate that old system completely. 


Because of Tradepoint's unique ability to now streamline every area of your business, verify that only “valid” information has been entered into every area of your company (accounting and otherwise), Tradepoint enables you to view or print powerful and impactful progress reports for your business in seconds.  In the vast majority of cases, the same reports produced in another package takes often minutes or even days.

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