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Maxim is based around a central general ledger / financial reporting engine. All modules, such as debtors, creditors, inventory pass transactions to the GL engine in a real time mode. What that means, for example, is that immediately an inventory item is sold, the item is taken out of stock, the debtor ledger is updated and the GL ledger is updated with sales, cost of sales, GST and other control accounts.

Accounting periods are used to get transactions processed into the correct monthly periods. A period has a start and end date that is used to ensure that transactions are processed to the correct accounting period. The accounting periods are either open or closed and allow transactions to be processed to any period, either in the future or in the past. Accounting periods are never physically closed, only logically closed. Adjustments to any accounting period can be made, even back into prior years.

There is no requirement to roll balances at the end of an accounting period. This allows for point of sale functions to continue on a daily basis while allowing back office functions to be processed into a different accounting period. At financial year end the procedures are the same - point of sale continues on a daily basis in the new financial year, while end of year adjustments may take some time to complete.

Maxim allocates a control number by type of transactions, by accounting period and by user. Users become known to the system at Logon. A transaction control number is available only to the user that created the control. However a user with the correct User Right has the ability to edit another users transactions. A change of accounting period will force new transaction controls to be opened. Users can close controls which forces a new control to be opened.

Controls are used to track a series of similar transaction types by user, to enable these transactions to be reported on, or for controls to be closed so that transactions cannot be changed - for example when sales invoices have been audited, printed and sent out.

Modules such as debtors, creditors, inventory, job costing, maintain separate transaction files from the GL module. From a GL perspective, the linking of these files to the GL is via GL control accounts. Every module has an options section where the GL interface accounts are specified. This is accessed via the Housekeeping section of the Navigate menu.

Editing of transactions can occur at two levels - the module level and the GL level. For example - a point of sale control in the debtors module has been allocated a control number 100. Within the debtors module the invoices created can be printed via control 100. Within the GL, the GL transactions created by the point of sale process can be printed via control 100.

While the system should maintain data integrity, occurrences can occur that can cause data integrity problems. Data integrity is about all controls balancing and module transaction control accounts balancing with module data. Within the General Ledger / Housekeeping menu , there are a number of reports that can be run to verify or fix data integrity problems.

Reporting is flexible and reports can be run on any accounting period at any time. Reports within modules are used to report on specific accounts within the module such as customer or supplier balances and to produce invoices, statements cheques and the like. Financial reports within the GL module are used to provide management financial reports using all the information provided by all the modules. The GL module is also used to monitor and reconcile specific accounts such as bank accounts and GST accounts.