The book-keeping software uses a unique database to store ledger data for multiple accounting years with batch based data entry for simple audit trail analysis.
A key feature of book-keeping is to be able to make corrections to transactions in current and previous accounting periods quickly and efficiently.
The option to be able to change data in previous accounting periods is managed by security features which give this option only to designated staff.
The basis of a posting to the ledger is the accounting period and not the transaction date, hence problems of adjusting VAT for late entry of invoices/receipts does not occur. The batch method of data entry enables data to be entered for future accounting periods as well as the current period without effect on reports.
Due to the database nature of the ledger, any report can be extracted at any time, provided the data is still on the ledger and this may be many years. This means that duplicate customer statements, aged debtor/creditor lists etc, can be produced for previous and current accounting periods.
Pinacle book-keeping includes the following: