FinancialForce Accounting – General Ledger
Unified ledger accounting – on demand
General Ledger accounting is the third key element of the latest release’s enhanced support for accountants’ key processes. CODA’s market-leading unified-ledger design and flexible chart of accounts structure are now available on demand, including multi-currency and multi-company operational transaction handling, together with day-to-day reporting and analysis. Irrespective of your company size today and where you want to be in the future, FinancialForce Accounting will change with you – whether that means a change in the number of invoices you create and process, setting up new subsidiary companies or doing business in different currencies.
Click on the image below to see a larger version.
Click on any of the features below, to find out more about how FinancialForce Accounting could benefit your organization.
More efficient and accurate real-time accounting
CODA’s award-winning “unified ledger” design sits at the heart of FinancialForce Accounting and is the engine that drives the application – for optimum efficiency, consistency and accuracy.
Unlike modular applications (that separate the sales ledger, payables ledger and general ledger and rely on batch updating), with a unified ledger, the books are always in balance and always up to date. This means that with FinancialForce Accounting you can access real-time information all the time, from anywhere in the world – all you need is an Internet connection.
Risk reduction with better compliance support
Compliance is a fundamental issue in business today, and a visible accounting audit trail is critical to finance professionals – so it’s also a core part of FinancialForce Accounting. Your financial data is protected and secure – once entered, it cannot be changed, ensuring auditability. However, we also recognize the importance of being able to adjust and refine information – with appropriate controls – and to do so quickly and easily. FinancialForce Accounting’s reversing and cancelling journals support you in this process, ensuring complete accuracy, as well as a full audit trail.
Complete control to support your processes
Our application delivers global accounting with the flexibility to completely accommodate your specific operating requirements. So, for example, in your industry sector you may require more than the standard twelve financial periods per year. With FinancialForce Accounting – whether you need to close your books four-weekly, fortnightly, weekly or even more frequently – it’s no problem, as the system allows up to 99 accounting periods a year! The same is true for accruals, so again you can run those as often as you want. Reversing journals can be run weekly, monthly or whenever required.
Making your finances more visible and more predictable
Budgeting and cashflow forecasting can be handled efficiently within FinancialForce Accounting to ensure you can both plan expenditure and keep track of your business’ financial position and performance. In addition to being easy to set up and monitor, budgets and forecasts can be compared to your actual position (as can inflows and outflows of cash) for full visibility of your finances.
Built for complexity; ready for growth
FinancialForce Accounting is designed to meet the needs of all types and sizes of organisation and to provide the “multi-everything” scaleability to grow with you, as your business continues to develop.
Multi-company accounting is essential for any organization that has reached the point where it consists of more than one legal entity. Our general ledger accounting enables you to set up and manage multiple accounting companies and aggregate them up to Group level. Handling multiple currencies is straightforward too – you can report in up to seven currencies for each individual transaction line, from within the general ledger.
Better visibility and transparency
Our unique chart of accounts design, means you have the most powerful and flexible reporting and analysis capabilities available in any accounting system today:
- Hierarchies – within FinancialForce Accounting, we’ve built a dynamic reporting structure using hierarchies that can be changed quickly, without needing to restructure the chart of accounts. That means your accounting application can easily adapt with you as your business changes.
- Dimensions – these can be used to create in-depth reports, for example comparing profitability by region, product, colour, project or any other criteria you want to analyse. This gives you complete flexibility, with multiple combinations and levels of reporting.
FinancialForce Accounting - General Ledger accounting
