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The Nominal Ledger module provides key features from the Financial Suite, such as multi company consolidation, multi-currency and proper Open Period Accounting. The suite also benefits from all of the System-wide features (shown on the left menu), such as easy Data Importing.
Chart of Accounts - The de Facto S5 Nominal Ledger is built around a highly flexible multi-dimensional accounts structure. This is founded on a free format chart of accounts, which can be linked to multiple, multi-level analysis structures. This concept can then be mirrored for a cost centre based axis.
Financial Reporting - Given the importance of, and particular needs of report writing for financial statements, de Facto S5 provides a dedicated reporting tool especially designed for this task. This allows sophisticated multi-column reports to be easily built using the powerful analysis structures. The report writer includes a multitude of calculation facilities, such as balance sensitive account location within reports, key ratio facilities, variance calculations, etc.
Drill Down and Around - de Facto S5 offers easy navigation around the system, and you can quickly move all the way from nominal ledger account balance to originating transactions to such things as sales orders, and purchase invoices. Equally important is the ability to view the postings made from any transaction, and to be able to quickly and easily reproduce relevant documents such as invoices.
Multiple Company - Along with multi-company facilities, de Facto S5 also enables Nominal Ledger consolidation for multiple companies. The consolidation option can be automated if all the companies operate on servers based on the same local area network.
Multiple Budgets - The nominal ledger allows multiple budgets to be created in any currency, and also for quantity data, if required. Data can be spread and flexed within a budget; new forecasts can be based on existing data where needed. In addition, budget data can also be imported from spreadsheets.
Commitment Accounting - The de Facto Sales and Purchase Order Processing modules have the option of creating and maintaining commitments against nominal ledger accounts and cost centres. This data is then available for reporting within the financial statement reporting facility. The commitments are also maintained in parallel with those held on the Job Costing when this module is used.
Quantity based Accounting - This offers de Facto S5 users who work with what may be termed bulk products, the option of collating such things as tonnage, volume or quantities in the Nominal Ledger. This feature allows the reporting of sales in tonnes, average price per M3, or number of cases held in stock, for example. Budget and comparative data can also be held in quantities.
Reconciliation Facilities - The de Facto Nominal Ledger provides full reconciliation facilities on all accounts. The feature provides a variety of functions, such as the ability to search on any transaction field including values. Un-reconciled entries can be added to a notepad option so as to allow complete reconciliation print-outs to be made. These un-reconciled entries can then be matched off during subsequent reconciliations.
Transaction Handling - The nominal ledger provides all the facilities for Journal entries you’d expect, including recurring, reversing and template journals. In common with all financial suite transactions, journals can use quantities in their entries. VAT entries are also catered for directly from journals as either ‘net + VAT’, or ‘gross - VAT’. VAT inputs and outputs are also definable.