Abstract: The invention is an integrated software system that provides one set of books for work management, accounting and regulatory reporting functions. The account structure of the general ledger is shared across the various entities (or departments) of the utility such that they all record the same information about activities, transactions and balances, thus sharing the same ledger structure comprised of a very limited number of segments, generally five to seven. The segments form an account flexfield. Certain segments of the account flexfield, if not supplied, may be derived from the other segments. The system is based on commercially available database software and allows for single ledger entries that are integrated throughout the accounting and reporting system of the utility.