Custom Enterprise Accounting Software

• Creating GL entries on external and intercompany financial transactions, including multi-currency transactions.
• Rule-based assignment of GL codes and classification of financial transactions by category (asset, liability, equity, revenue, expense, etc.)
• Multi-dimensional chart of accounts (dimensions can include business units, regions, product lines, customers, vendors, etc.).
• Scheduled reversing and recurring GL entries.
• Automatically attaching source documents (e.g., invoices, receipts, payroll reports, leases) to each GL entry.
• Configurable subledgers.

• Complex multi-entity GL architecture to maintain books for multiple company branches and subsidiaries, including those with different functional currencies, account structures, or accounting calendars.
• Consolidation of financial transactions data across a company’s branches and subsidiaries.
• Rule-based re-allocation of the accumulated account balances to the branch/subsidiary account balances.
• Recording intercompany netting transactions.
• Consolidated reporting on the financial transactions of multiple business entities.

• Automated invoice generation and submission to customers (one- time/recurring, in advance/on delivery).
• Customizable invoice templates.
• Automated application of taxes, discounts (including those on early payments), additional charges (e.g., interest on late payments, insurance), and billable expenses.
• Multi-department invoice approval.
• Real-time invoice tracking by status (sent, received, partially paid, paid, due, overdue, etc.).

• Recording customer invoice data in the A/R ledger.
• Calculation and real-time tracking of received, due and overdue amounts, DSO, total revenue by period, etc.
• Automated payment collection via various payment methods, including bank transfers, wire transfers, ACH, credit cards, checks, or by direct debit.
• Prioritization rules for A/R collection.
• Automated allocation of received payments to the relevant customer invoices.
• Scheduled customer notifications on due payments.

• Recording purchase order data in the A/P ledger.
• Calculation and real-time tracking of the amounts paid, partially paid, owed, total liabilities by period, etc.
• Automatically matching supplier invoices with corresponding purchase orders.
• Scheduled/ad-hoc payments (to vendors, suppliers, contractors, governmental entities, etc.) via a predefined payment method / by direct deposit.
• Multi-department payment approval.
• Notifications on payment dates.

• Calculating employee salaries, overtime, bonuses, commissions, deductions, etc.
• Recording and tracking the calculated payroll amounts in the payroll ledger and the general ledger.
• Scheduled payments to employees.

• Calculating reimbursement amount per each employee.
• Recording and tracking reimbursable employee expenses (travel, transport, corporate entertainment, etc.) in the expense ledger and the general ledger.
• Scheduled payments of employee reimbursement.

• Calculating VAT, sales, use, withholding, income, and other taxes based on predefined tax rates, including those in various regions.
• Recording and tracking data on the calculated tax amounts in the tax ledger and the general ledger.
• Automated tax filing.
• Scheduled tax payment.

Calculating, recording and tracking:

• Original costs, capitalized costs, and current value of fixed assets, including assets in multiple locations, regions, of various business entities.
• Fixed asset value depreciation based on various calculation methods (straight line method, double declining balance method, units of production method, sum-of-the-years’ digits method, etc.), or custom depreciation schedules.
• An asset’s tax basis.

• Recording and tracking inventory values of inventory items in multiple locations and regions across various stages of production (raw materials, in-progress goods, finished goods) or/and utilization.
• Recording and tracking costs of goods sold for a specified accounting period.
• Automatically creating inventory records based on purchase orders.

• Automatically matching data on financial transactions provided in daily/weekly/monthly bank statements with those recorded in the general ledger.
• Rule-based one-to-one, one-to-many, and one-to-all transaction matching.
• Automated marking of the outstanding transactions to be reconciled manually.
• Automated intercompany reconciliation.

• Real-time dashboards on A/R and A/P performance, cash inflows and outflows by the type of activity, current asset value, etc.
• Short-term A/R and A/P forecasting.
• Customizable templates for scheduled/ad-hoc financial reports, including:
  • Balance sheet.
  • Profit and loss statement.
  • Statement of changes in equity.
  • Cash flow statement.
  • Customer statement.
  • A/R turnover ratio.
  • Tax summary.
  • Revenue recognition report, and more.

• Multi-factor authentication.
• Data-level permissions.
• Role-based access control.
• Payment data encryption.
• Invoice timestamping.
• Comprehensive audit trail.
• Customer data retention and deletion policies.
• Compliance with GAAP (specifically ASC 606 and IFRS 15), SOC1 and SOC2, SOX, GDPR (for the EU), ZATCA regulations (for Saudi Arabia), industry-specific regulations.
• Electronic signature workflow.