Enterprise Management Functions – General Ledger

By January 10, 2013Sage ERP X3

In past blogs we have discussed many of the new features and enhancements that were released with Enterprise Management (Sage X3) 6.5.  Over the next couple of weeks our Enterprise Management blogs will detail the different core processes that encompass Enterprise Management.  Each successive Enterprise Management blog will delve deeper into these different processes that make Enterprise Management powerful, flexible, and cost effective – including, accounting and finance, purchasing management, customer relationship management, etc.

The first part of this series will discuss the accounting and financial management functionality of Enterprise Management.  The most basic aspect of any ERP system is its ability to record, keep track and maintain all accounting and financial records.  Enterprise Management addresses these needs by equipping your business with an end-to-end financial management solution that improves financial reporting and compliance.  It consists of three major functional domains: General Ledger, Accounts Receivable/Accounts Payable, and Fixed Assets.  These domains enable your business to make decisions based off accurate information, manage global accounting operations, and proactively manage risks and compliance.  This blog post specifically details the core functions of the General Ledger.  The next post will encompass Accounts Receivable/Accounts Payable and Fixed Assets.

General Ledger

Multi-Ledger:  Enterprise Management associates a company to an “accounting model,” which can be used by several companies. Each model consists of up to ten sharable ledgers, each one associating one currency, one sharable chart of accounts, and up to ten user-defined analytical sharable dimensions. Parameterizable and flexible rules allow the generation of multiple GL entries, thus avoiding restatements and double entries.

GL Accounts and Fiscal Calendars: Enterprise Management General Ledger supports multiple companies and sites and allows an unlimited number of fiscal calendars to be defined with up to 24 open periods per calendar. A special period can be used for year-end postings. Account numbers can be expressed in fixed or variable lengths and can be identified by a short mnemonic. Accounts can also be defined as “collectives,” permitting customer and supplier sub-ledger information to be fully integrated within the GL.

Automatic Journals: Enterprise Management supports manual, simulated, template, recurring, and reversing journal entries. Entries can be saved in a temporary state prior to final posting. Simulated journals can be active or inactive, allowing for different levels of “what-if” scenarios. Recurring journals can be fixed by period or variable with the ability to allocate an amount according to monthly weighted distributions. Accruals can be defined to reverse automatically on a predefined date. User-defined allocation structures and formulas can also be defined and processed automatically, with multipass capability.

Analytical Dimensions: Enterprise Management supports user-defined analytic dimensions for budgeting, allocations, and analysis. Dimensions can be both financial- and quantity-based. Dimension views can be defined to be analyzed from a specific standpoint, such as sales by channel or by product line. Dimensions can support any number of groupings of up to 99 levels to permit access to varying levels of account information with drill down for a cumulative to a detailed view.

Budgeting: Budgets can be defined based on dimension views, at various grouping levels, in the company currency or multiple currencies, in financial and quantity form, and with an unlimited number of revisions. Enterprise Management supports commitment accounting with budget comparisons against pre-committed and committed amounts from Purchasing. Budget control allows users to check the balance between expenses and commitments in order to make sure that forecasted expenses will not over exceed the budget. The associated workflow can follow different approval rules according to the amount, the user, or other company specific criteria. This provides a continuous view of internal and external projects. Budgets can be manually entered, uploaded from spreadsheets, or calculated online with user-defined formulas.

Account Inquiry:  Enterprise Management provides the ability to research financial activity easily through a number of account, account balance, dimension, and dimension balance inquiries. Users can zoom in on selected accounts to view varying levels of detail. All business partner collective account activity is fully integrated in the general ledger so users are not obligated to look in different sub-ledgers to locate the information they need. Bidirectional auditability allows tracking of any transaction from origin to posting or vice versa.

Financial Extraction and Reporting:  Enterprise Management provides a powerful, financial-oriented data extraction facility for all inquiry and reporting needs. Used in conjunction with Infor F9™, users can easily design and generate all company-specific operating statements, balance sheets, and other financial reports and inquiries. Enterprise Management provides a number of report-building tools, such as row and column content and formatting flexibility, as well as content restriction facilities such as reporting and company group codes.

 

Contact Our Enterprise Management Team

Are you interested in learning more about the features and functionality of Enterprise Management? Contact SWK’s Enterprise Management to learn how these features can benefit you. For additional information contact us at 877-979-5462 or click here to contact us.

 

 

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SWK Technologies, Inc.