Make informed decisions
Accelerate financial close and reporting
Improve forecast accuracy
- Apply incoming payments, reconcile bank accounts during payment application, and collect outstanding balances.
- Make payments, apply outgoing payments, and work with checks.
- Make your customers submit payment before you ship to them, or submit payment to your vendors before they ship to you.
- Reconcile bank accounts and transfer funds between bank accounts.
- Set up intercompany partners and process transactions, manually or automatically, between legal entities within the same company.
- Analyse the costs of running your business by allocating actual and budgeted costs of operations, departments, products, and projects to cost centres.
- Manage inventory and manufacturing costs, report costs, and reconcile costs with the general ledger.
- Combine general ledger entries from multiple companies in one virtual consolidated company for financial analysis.
- Add dimensions for richer business intelligence.
- Create G/L budgets to forecast different financial activities and assign dimensions for business intelligence purposes.
- Record income or expenses directly in the general ledger without posting dedicated business documents.
- Post reversing entries to undo value postings in the general journal or quantity postings on purchase and sales documents.
- Allocate an entry in a general journal to several different accounts when you post the journal.
- Assign extra costs, such as freight and physical handling that you incur during trade, to the involved items so that the cost is reflected in inventory valuation.
- Post employees’ personal expenses for business-related activities and reimburse employees by making payment to their bank account
- Recognise revenues and expenses in other periods than when the transactions were posted.
- Use additional currencies and update currency exchange rates automatically.
- Import salary transactions from your payroll provider into the general ledger.
- Use functions to calculate value-added tax (VAT) on sales and purchase transactions so that you can report the amounts to the tax authorities.
- Prepare a report that lists VAT from sales, and submit the report to tax authorities in the EU.
- Convert service contracts to change their VAT rate.
- Monitor the flow of cash in and out of your business.
- Follow and end-to-end procedure on using use account schedules to make cash flow forecasts.
- Work with financial statements and overviews in Excel.
- Use the Accountant Role Centre, invite an external accountant, and use the Accountant Hub to manage accounts for multiple clients.