Quantus

Quantus is one of the smartest computerised accounting environments that you will ever find. It is easy to use and will always get you out of trouble. No matter what mistakes you make there is a way around the problem. There are no dead ends, and no closed doors.

Because Quantus works over the internet one of the key benefits to us is that we can login to client systems running on their servers in their offices. This means that we can enter transactions to correct their mistakes or to add year end adjustments while they are working normally. We can post year end adjustment transactions into the prior year, just by opening up the calendar system to general ledger only. They carry on working as usual and the system updates the prior year and the current year balance sheet automatically. Afterwards we extract the finished data into our accounts presentation software, and there is only one accounting record. After the accounts have been signed off they have nothing further to do - their system is always up to date.

Quantus is a multi-user, multi-company (that means that a single database can have many sets of books) real time accounting system. If you want to understand the technical architecture and how Quantus works from the computer point of view then take a look at the Quantus Architecture.

From the accounting point of view Quantus has many nice features that make it easy to use. Some of these are:

  1. Four integrated ledgers (cash book, sales ledger & sales invoicing, purchase ledger and purchase order processing, and general ledger) which behave as a single system. Any transaction is immediately posted into all the necessary parts of the system.
  2. A general ledger structure which has expense codes and nine levels of cost centre structure. Many account codes (posting level) can exist in each cost centre/expense code nodal point.
  3. Nine additional "views" of the general ledger data.
  4. Balances structures which accumulate transaction values in real time, no posting runs, no interfaces. The P&L and Balance Sheet is always up to date and the Balance Sheet is balanced without running a year end process. This is achieved by attaching a profit movement line to every transaction that is entered (effectively quadruple entry book-keeping).
  5. Real time balances by calendar period at account code, expense code, cost centre level and expense code/cost centre nodes.
  6. Control over postings by a sophisticated calendar function which allows any period past, present or future to be opened or closed to postings, by ledger type.
  7. Functionality to period over-ride late transactions into a period which is not their natural date period. All transactions can be input with their true date even if they are several months old. This means that missing purchase invoices will be eligible for payment immediately (according to terms) and ageing reports will be correct. The VAT system handles this correctly.
  8. Two independent calendar functions, one accumulating data by the Gregorian (natural) calendar and another accumulating data by an accounting calendar (which may be for example 4:4:5 week periods). This enables a view of the purchase and sales ledger by true date as well as by accounting period. True dates agree to aged debtors and creditors which work by date, whereas accounting dates agree to the general ledger.
  9.   Calendar functions enable the system to run with no month end or year end processes.
  10. The calendar and balances structures provide unlimited visibility of data both backwards and forwards in time. Very useful if you want to see what your bank balance will be next week.
  11. Full Trial Balance far any accounting period, on screen or print in under a minute for any number of general ledger accounts.
  12. Completely automated VAT accounting (not cash accounting), including a special system for handling partial VAT exemption.
  13. Automated cancellation of incorrect transactions (Undo) with full audit trail. No transactions are ever deleted, cancellations write additional "cancel" transactions into the database.

Please visit the Quantus website www.quantus.co.uk for more information.