FMSweb5 Welcome myacct


Financial MicroSystems,Inc. Write-Up Made Simple! Highlighted CLS Features

Untitled Document
Products
Software
Client Ledger System II ™
Client Ledger System
CLS ~ The Limited Edition
CLS ~ General Ledger™
Add-Ons
CLS ~ Tax Package Interface
CLS ~ Unemployment Plus
CLS ~ W2/1099 Magnetic Media
CLS ~ SUTA Magnetic Media
CLS ~ XML Filing of 940, 941 and 944 Forms
Features
New Features in CLS II
CLS Basic Features
Highlighted CLS Features
Product Comparisons
System Requirements
CLS Product Tour

 


CLS is a real workhorse. It’s fast, flexible and easy to learn and use! And, it’s reliable! Below are a few examples of how CLS can help your practice increase productivity and help give your clients what they want. If you are already a CLS user, visit Implementing Highlighted CLS Features to learn how to incorporate these features in your practice.

Automatic Income Tax Calculations
CLS can automatically estimate your clients’ federal and state income tax obligations.

Automatic Inventory Adjustments
If you use standard sales percentages for cost of goods sold (CGS), CLS can automatically create the CGS entries for up to twelve inventory accounts. Two types of transactions may be created: either “simple” CGS transactions, with a debit to cost of sales and a credit to inventory, or “perpetual inventory” transactions, which show both beginning and ending inventory on the P&L.

Departmental Income Statements
You can easily create departmental income statements in CLS; CLS can handle up to 10,000 departments in a ledger. You can also prepare division-level financial statements.

Employee/Vendor Missing Information Report
Not sure you’ve entered all of the required employee and vendor information in CLS? You can print a list (or worksheet) of employees or vendors with missing social security numbers or missing address information.

Enforced Cosmetics
Enforced cosmetics causes titles, footnotes, datelines and account descriptions to appear on financial statements in a specific case, regardless of how they were entered. Use this option to clean up your financial statements, or simply to make them consistent for all clients.

FICA Adjustments for Cash-Basis Employees
If your clients have cash-basis agricultural or household employees, CLS can automatically calculate the correct FICA to be reported and add it to their gross pay.

Financial Statement Print Options (B,I,U)
CLS will let you print titles on financial statements using bold, italics or underlines. This feature provides very professional looking statements.

Income Tax Summary
If you are not using the CLS tax package interface, but would like to rearrange the balances on the client’s trial balance to facilitate tax package entry, set up an Income Tax Summary for the client. Assign each account to a line on the tax return; the printed report list account balances by line, and total them. If you use a standard chart of accounts, the setup can then be copied from one client to another.

Leadsheets
Getting ready to do an audit? If the client is already set up in CLS, leadsheets for the client can be created. Enter the adjustments when the audit is complete, and then reprint the leadsheets or trial balance in the leadsheet format.

Pro Forma Journal Entries
If you have to enter the same journal entries each period, but with different dollar amounts, why not set them up as pro forma journal entries. Each period, simply enter the current amounts; CLS will then create transactions for the current period. You can even print worksheets to be used as input documents.

Ratio Analysis
Would you like to provide your clients with sophisticated ratio analysis reports? The CLS Ratio Analysis program offers twenty-six predefined financial ratios (including five Altman’s Z-Score ratios). You can include any or all of these ratios in your reports, or define new ratios as needed. You may also compare the current-year ratios to those for last year or to industry standards.

Special Format P&L
Use a special format P&L to change the sequence of columns on the P&L, or to add or delete columns, to provide a client with a custom income statement. Also, the special format P&L offers the only way to prepare a P&L containing "ratio" columns (e.g., $ per sq. ft., $ per patient day), or to compare actual expenditures with a total budget.

Time-Tracker
CLS has been continuously tracking time and transactions for each client since this feature was introduced. You can now examine each client’s monthly activity, both this year and last year, and you can compare clients.

Trial Balance, Entering
Do you need to create financial statements for clients who give you only a trial balance at the end of the period or year? Using the Enter a Trial Balance function, enter the ending account balances for the period. CLS will create the current-period transactions needed to take you from the beginning balance in each account to its new ending balance.

Trial Balance, Printing
CLS includes four different trial balance formats. These reports are available from TB 3. To select formats 2, 3 or 4, you must have comparative history.

Trial Balance Worksheet with Adjustments
CLS lets you print a trial balance worksheet for each client (or a trial balance in the lead sheet format) showing your year-end adjustments.

Verification of Employee Earnings
You are often asked to verify an employee’s earnings for the year. CLS can print a formal verification, including your name, address and phone number, and a place for you to sign the form.

Worksheet Interface
This CLS program lets you define templates so that account balances can be transferred to Lotus or Excel spreadsheets. Since accounts can be transferred (or grouped) in any order, this feature can be used to create reports that can’t be produced by CLS itself.

Year-to-Date Transactions Sorted by Payee
At the end of the year, you will need to know the total amount paid to each vendor so that 1099s can be issued if needed. If you used vendor numbers when entering transactions in CLS, you already have the information you need. If not, this QT option will let you sort the year’s transactions by payee and total them.

New Features in CLS II 1.71


Contact Us |  Support |  Privacy Policy |  Site Map
Copyright 2017 - Financial MicroSystems, Inc. All rights reserved.