General Ledger

BDOS has a fully integrated general ledger which automatically creates almost all of the general ledger entries.   Posting of the entry is transparent to the user.  As such, a competent clerical person can use BDOS with very little difficulty and achieve results that are error free.

General ledger entries are created as a result of normal every day operational activities. They are created when:

  • a trade is downloaded from clearing, NSCC, DST IDC or manually entered
  • vendor payment is received
  • rep payout adjustments are made
  • reps are paid
  • checks are written to reps or outside suppliers

General Ledger Entry Example

Consider an agency trade:

  • commission of $400
  • clearing fee of $16.00
  • rep payout (rep commission) of $303.20.

When BDOS processes that trade, the following general journal entries are automatically generated:

general ledger

Extended GL

The trade is automatically assigned a unique reference number, in this case 10642.  In addition, BDOS maintains an Extended General Ledger which provides supplementary trade information.  For trade reference 10642 the extended gl shows:

The extended gl indicates:

  • the trade reference 10642 and the amount of the receivable
  • the source of the trade “RB”, a trade processed through an RBC download
  • the vendor “RBC”
  • the client short name “Clinton WJ”
  • trade information ”a Buy of 652.529 shares of TPDAX @ $12.26″

As with all BDOS data, the General Ledger, trial balances, income statements and profit and loss statements are saved for an indefinite time period.