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Efficient financial management and reporting tools provide the basis for keeping firms on track. Elite General Ledger provides a very sophisticated and elegant set of features that seamlessly allow information to flow into the appropriate accounts combined with the most flexible reporting and inquiry tools available. With Elite General Ledger, month-end closing procedures are accomplished quickly and efficiently without requiring time-consuming manual posting and batching operations.
Integrated Financial Analysis Tools
Once information is entered in Elite General Ledger, there are multiple information access methods available including inquiries, reports, web access, email distribution and online
report viewing. Elite has tightly integrated its financial management solutions with financial reporting solutions from FRx Software Corporation. FRx DirectLink delivers
real-time financial statements and facilitates complex financial analysis of data within Elite General Ledger.
Key features include:
- On-demand access to real-time financial information.
- Creation of professional-quality, attractively formatted financial statements.
- Drill-down capabilities on entries to view supporting details.
- Ability to create multiple budgets per account for in-depth analysis.
- Distribution of financial statements via email.
- Support for cash, modified cash or accrual-based financial accounting systems.
Elite General Ledger offers a standard set of financial statements and reports including:
- Income Statement
- Balance Sheet
- Statement of Cash Flow
- Statement of Changes in Financial Position
- Actual versus Budget Listings
- Gains/Losses from Currency Conversion
- Comparative Statements
Information Flows to the Right Location
The information flowing into Elite General Ledger provides a strong foundation for the subsequent analysis of information within the financial statements. To accomplish this
information flow automatically and transparently, General Ledger provides sophisticated masking rules. These rules establish how information flows into different accounts to enable reporting based upon the needs of each firm. Here are a few examples of how masking rules can solve complex requirements quickly and easily without manual posting or
file updates:
- A multi-office firm desires to produce financial statements at various levels, including department, office, region and firm. Masking rules ensure that Billing Manager and Accounts Payable transactions automatically flow into the proper General Ledger accounts to support all the different levels of reporting.
- Firm management would like fee income posted directly to appropriate accounts to support a wide variety of income and expense reporting. Masking facilitates this type of information flow and allows posting to occur at various levels including office, department, practice area or even the individual working timekeeper. On-demand reporting is now available at all levels automatically.
Sophisticated Support for Global Operations
Elite includes many features designed to support international practices, including:
- Multi-company or entity capabilities.
- Multi-currency support, including the ability to automatically compute and post currency gains and losses, and support on-demand reporting in any currency.
- Multi-language support, including help text and customizable error messages.
- The ability to globally consolidate reporting and accommodate local statutory requirements.
- Support for multiple tax jurisdictions and structures. These features enable multi-national practices to operate efficiently and to easily report on local offices, regional
operations or on a worldwide, consolidated basis.
Online Inquiry and Reporting Tools Deliver Fast, Focused Information
Elite also provides an extensive set of online inquiry and reporting tools that enable users to:
- Perform flexible search and query operations.
- View accounts by date range, accounting period or any aspect of the account number (e.g., office, department, practice area).
- Sort columns within grids in either ascending or descending order.
- Copy and paste data within grids into other applications such as Excel for email distribution or data manipulation purposes.
- Drill down on entries to view supporting details.
- View cost or billing entries tied to journal entries, including the ability to view images of accounts payable invoices.
For more information on Thomson Elite, please complete our sales request form or call +44 (0) 20 7369 7379.
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