Re-engineering the Financial Process

The TROPOS Financials are a powerful component within the integrated ERP system, using the best-in-class CODA suite of unified ledgers. The unified ledgers include the traditional functions of Accounts Payable, Accounts Receivable, General Ledger including Cash Management, fixed assets register and a user definable interface for other applications such as payroll, budgeting etc. Since CODA-Financials was created as a totally unified, single database, financial information is held in real-time status so it is always timely and meaningful.

Ultimate Flexibility

CODA-Financials can hold either a single, common chart of accounts for all entities or dissimilar chart of accounts to reflect distinct requirements of individual business units. A user definable Company/Account structure is available with up to 60 characters including up to 8 levels. Levels of analysis in the chart of accounts allows users to roll-up, Browse and report on any subset of any account element – even a subset as small as one character of the account code.

Full Integration

The ledgers are fully integrated with the ERP modules in the TROPOS system. Sales credit checking monitors balances in the order book as well as outstanding invoices. All sales, purchase, stock and WIP movements validate the account codes in real time and can update the ledgers at user defined intervals. Purchase Invoices are checked against the GRN and Purchase Order and once cleared are entered into the appropriate payment cycle. All relevant ledger movements such as accruals and VAT accounts are handled automatically as part of the entry of the originating transaction.

Detail Documents

The flow of accounting and management information is determined by documents. Most financial documents will be created automatically as a result of a transaction occurring elsewhere in the business such as a WIP movement or a sales invoice. Other documents entered directly into the ledger, such as cash receipts, can be defined to reflect the ways in which business events are recorded and processed by each individual or department. Coda Financials mirrors your required accounting procedures and can be tailored to your transactional requirements through customisable formats. The system supports many document types including reversing, recurring, cancelling journals, invoices electronic media and cheques. Documents can either be posted directly into the ledgers, or held in an electronic “in-tray” for review. This is particularly useful for holding documents which cannot be completed immediately, cannot be validated, are awaiting approval or are out of balance. Documents in this status can optionally be included for reporting giving powerful “what-if” capability.

Eliminating Financial Reconciliation

CODA Financials guarantees balancing throughout the system and eliminates the need for period close reconciliation reports. The system’s single database design ensures accounting data is always in balance and advises of any out-of-balance transactions on posting. All updates to the General Ledger from other dimensions, like Accounts Payable and Accounts Receivable, are performed simultaneously upon posting. Analysis and accurate trial balances can be run at any time, and are always based on information that is current and in balance. As all transactions are date based, the Period End process is simplified to the point of entering a simple administrative transaction to limit the type of transaction that can be entered for each accounting period. All other period end activities will therefore be reporting based and there is no need to delay entry of data into current periods.

Browse the Database – The Ultimate Drill-Down

As each transaction is posted, intermediate and total balances are maintained. This allows the powerful query tool to retrieve and view information from any level of the system using broad selection and searching techniques. Using this function, users can have a multi dimensional view of the financial database. Users can explode summary information and zoom in at lower levels, e.g. from a financial statement line item, to product line, to sales territory, and further to periods and account transaction details. The Browse Balances and Browse Details features allow users to define their own templates and to manipulate the view dynamically in tabular format, expanding and collapsing levels, hiding or viewing columns etc. Once a view has been defined and selected, the data can be transferred to a spreadsheet with a single click of a button, to provide further data modelling capabilities.

The Financials Desktop

Most staff in the Accounts Department use a diary, memos, to-do lists and supporting notes as well as the Financials system. The CODA-Financials provides a users “Desktop” combining a diary, activity planner and note facilities with are fully integrated with the transactions and master files. This is especially useful for Credit Control, where call-backs and promises can be recorded and activity reminders can trigger the next action. This means all the relevant information is held in one place, easily accessible from the comprehensive Desktop Screen.