Advanced Financial Reporting
Design financial statements using sub-account segment structure and configured hierarchy. Publish reports on the web or distribute as Excel or PDF files.
Flexible Configuration of Financial Periods and Accounts
Define monthly, bi-monthly, annual, or custom financial periods. Keep periods open as long as you need to complete data entry and reconciliation. You can override the automatic assignment of the reporting period based on the transaction date – the GL system warns of potential mis-entry. Allow users to change account types for posted transactions.
Flexible Consolidation Process
Select a company of any type as a consolidation source. Only a branch of a company classified as With Branches Requiring Balancing can be specified as a consolidation source.
Multiple Currency Support
Enter GL transactions in different currencies with multiple currency support activated. Maintain balances in the base currency and the foreign currency. See Currency Management for more information.
GL Accounts Budgeting and Budget Approval
Maintain an unlimited number of budget scenarios, such as optimistic, pessimistic, or expected. Grant access rights for team members to provide input without viewing salaries or information from other subsidiaries. Approved budgets can be used in comparative statements and analysis reports.
On-The-Fly Sub-Account Entry
Add new combinations of valid subaccount segments on the fly during data entry. This feature allows efficient ongoing maintenance of a complex reporting structure.
Automatic Allocation of GL Balances
Distribute GL account balances over multiple accounts and sub-accounts based on predefined allocation rules based on percentages, quantities, or statistical data, or proportional to other account balances. Create and run multiple subsequent allocation templates.
Drill Down to Original Documents
Gain immediate access to GL balances with a complete array of inquiry screens and reports. Drill down to the originating document from any inquiry screen or report, even if the transaction was created in another module.
Reversing and Auto-Reversing Entries
Reverse GL system transactions with one click. Automatically generate reversing entries in the next financial period during the post procedure or when the financial period closes.
Create recurring income and expense transactions based on specific schedules and time periods. Design templates with expiration dates, execution limits, and custom execution schedules.
Maintain a complete audit trail of all journal transactions throughout your GL management. Entries cannot be deleted. Corrections require adjusting entries. The system tracks the ID of the user who entered the transaction. Notes and supporting electronic documents can be attached directly to transactions.
Cash Basis Accounting
Record revenue and expenses when payments are received or disbursed rather than when the transactions occur.
Split transaction amounts to transfer portions to other accounts, subaccounts, or branches.
Account Error Detection and Date Error Prevention
Identify potential mistakes in posted transactions before closing financial periods. AI-powered anomaly detection with machine learning reviews posted transactions and surfaces potential mistakes.* Validate dates on financial forms, processes, and projects and reject dates that do not match a financial period on the master calendar.
* Managed availability: Phase 1 focuses on account reclassifications. Future releases will include more GL transactions.
Journal Entry Approval
Customize journal entry approvals with rules, such as batch type, trial balance entry, and transaction process. Automate approvals by assigning approvers based on an approval map and workflows.