Performance Measurement for the Grocery Industry
The General Ledger module is a complete measurement application expanded to facilitate Retail Grocery specific functionality such as a five tier Entity Structure, Parent/Child Departments, Weekly and Daily reporting, Inventory Accounting, Transfer reconciliation and Statistical reporting to name a few. Additionally, there are many advanced features such as automated entries, weekly/period pre-close, advanced budget and forecast capabilities, multi-level comment capabilities for all transactions, on-line reconciliation and user-defined history retention. A global calendar is maintained which determines the posting criteria for all modules within the FMS Financial Suite of Applications.
Capture Data Automatically or Enter Just Once
This General Ledger serves as the heart of the FMS Financial Suite of Applications providing complete integration with each module and a single source of data for all reporting functions. The FMS General Ledger completely eliminates re-keying data into different applications and spreadsheets. The Retail Grocery specific functionality and advanced features facilitate the availability of timely and accurate information while reducing overhead and greatly enhancing data integrity.
FMS General Ledger is tailored to your grocery business
Structured to make information available
Quick access to desired data is made easy within inquiry and reporting; eliminating reading each account to determine the corporation, store or department number. Inquiries can be made for single accounts for all corporations, stores or departments. The Structured Report Writer and the Spread-sheet Interface permit store specific balance sheet accounts in a common balance sheet environment. Inventory balances are maintained either at the Child level or at its corresponding Parent level. Establish statistical accounts (customer count, selling area, coupon counts, Rx count, etc.) within the chart of accounts to facilitate ready access for inquiry, reporting and ratio analysis.
Save Printing and Handling Costs
There is no need to print the general ledger as part of closing a period. Historic account balances and transactions are maintained for a user defined number of years.
Track Performance Against Budget
Budget amounts can be set up and maintained for each income, expense, or balance sheet account within each general ledger calendar. Each account can be enabled for daily, weekly, period, quarterly or annual budgeting. Multiple budgets and forecasts can be maintained within each historic, current or future year.
Retail Inventory Accounting helps control shrink and value inventory
Maintain retail amounts, cost amounts and gross profit percentages by transaction within the weekly general ledger for purchases, transfers, mark ups, mark downs, inventory adjustments, and journal entries. Measure inbound gross profits, periodic inventory valuations and departmental shrink to facilitate the enhancement of gross profits and inventory control. Reporting is available by transaction, vendor, or department. A retail factor can be entered manually or calculated based on the cost and retail purchase transactions for a specified period of time with or without consideration of a previous inventory count. Collect physical counts based on custom designed, reusable count formats. Physical count adjustments are automatically calculated to correct and post counts that are performed before or after the inventory date.
Transfer Reconciliation Controls Inventory with Reduced Labor
The Transfer Reconciliation module completely manages inter-department and/or inter-store transfers. The system compares send and receive transfer numbers, cost amounts and dates, then clears correctly matched transfers. Exception reports are provided for all transfers that are unmatched or have errors.
Reporting is versatile and complete
The Structured Report Writer produces operational reports, financial statements, and many types of supporting reports or extracts. The design employs many electronic spreadsheet characteristics that greatly minimize the need for reporting outside the FMS Application. Hierarchies provide a powerful way of grouping stores for reporting purposes. And electronic filing eliminates the need for manual paper-based entries and notes.
Import/Export in Spreadsheet Format
The spreadsheet interface imports and exports financial and statistical data between a PC and a host for budgets, journal entry and allocation postings. The comma-separated data format is compatible with most PC based spreadsheet applications.
Reporting is Timely
The system maintains actual and budgeted cost, retail and statistical information for each weekly period for the current and previous fiscal years. The automated recurring weekly entries provide the opportunity to produce very complete, accurate and timely results of weekly operations.
Automate Vendor Transaction Management
Typically, vendor payment transactions represent the vast majority of the financial transactions. Having a high integrity interface from receiving systems and the ability to communicate to vendors electronically becomes very important to the process. The FMS Accounts Payable module provides many enhanced Retail Grocery specific functions such as DSD interface, authorized stores and accounts within each vendor, and the ability to capture retail transaction amounts. There are many advanced features such as multiple banks, vendor contact information and comments, inter-company postings, ability to communicate to vendors through transaction comments within the remittance advice, and the ability to export vendor and transaction data to spreadsheets.
Reduce Overhead and Improve Data Integrity
Retail Grocery specific functionality and advanced features facilitate reducing overhead through DSD interfaces, automated entries and electronic notes and comments that also eliminate manual notes. Data integrity is greatly enhanced through the automated interfaces and various validation processes that minimize posting errors. The need to manually schedule outstanding transactions at the end of a period is eliminated. Cash management is greatly facilitated by the flexible reporting and payment selection process.
FMS Accounts Payable Module Serves Retail Grocery Needs
Structured for Multiple Options
Concurrent management of multiple bank accounts for Accounts Payable processing can be established at the company or vendor level. Invoice and credit transactions are posted and maintained within their respective fiscal period. Outstanding and paid transactions can be reported within each history, current or future fiscal period, which eliminates the need for manually scheduling outstanding transactions at the end of a period. Historic vendor balances and paid transactions are maintained for a user defined number of years, eliminating the need for paper based document retention.
Global Grouping with Exceptions
Different classes of invoice or credit transactions can be identified uniquely under each vendor. Examples of these classes may be billback invoices, damaged goods, quantity errors or calculation credits. Override capabilities exist at the invoice level for exceptions to global terms.
Complete Vendor Information is Easily Accessed
Contact names, phone numbers, and unlimited free-format comment capabilities are available to maintain supporting comments about each contact. This eliminates the need for paper based contact notes. Information about acquired by and acquiring vendors is maintained to provide cross-referencing capabilities. Authorized stores can be established within each vendor, greatly reducing invoice payment to incorrect or unauthorized vendors.
Wholesalers and COD vendors can be flagged to post the transactions to the general ledger and vendor totals without creating an unpaid open item.
Authorized General Ledger Accounts by Vendor Reduce Posting Errors
Each vendor can have authorized general ledger accounts established to restrict distribution entry(s). If no authorized account exists, a posting can be made to any active general ledger chart of accounts.
Transaction management without manual notes.
Each invoice or credit transaction can have description, comment, and purpose comments. This facilitates electronic communication to the vendor and eliminates the need for manual notes. Invoice and other transaction data can be captured through automated interfaces to the major DSD Vendors or through custom interfaces. Duplicate invoice numbers from within the history, current or future periods are rejected at the time of entry to reduce the possibility of duplicate payments.
Check Processing Accommodates User Preferences
The check selection process allows automated inclusion and exclusion of invoices for payment for all vendors or stores and within each vendor or store by date or item range. Multiple check processing cycles with different selection criteria can be active concurrently. A prepayment listing of invoices selected for payment can be displayed or printed before checks are issued. Check processing profiles can be established for specified vendors, selection dates and check dates. This function is typically used to group repetitive criteria such as rent, taxes, utilities and other types of unique payment requirements as well as the primary cycles processing due dates and check dates.
On-Line Reporting is Spreadsheet Compatible
FMS applications are all highly integrated which allows seamless on-line navigation between all modules. Reporting, lookup tables and data drill-downs are available throughout the application. The spreadsheet interface is compatible with most PC based spreadsheet applications.
Check Reconciliation Controls Cash
The check reconciliation module maintains the status for issued and cleared check amounts, reducing reconciliation efforts and bank service charges. The differences between check issued amounts and amounts paid by the bank are presented to eliminate manual analysis.
Realize the Income Potential of Billbacks
Often, the volume of billback income can be as great as the grocery store’s net profit. Realize the income potential of Billbacks by assuring that all deal monies that are available are accurately billed. The process eliminates human error, assuming the deals are entered correctly, and drastically reduces overhead by eliminating the labor-intensive manual tracking, calculation and invoicing.
Take the Manual Tracking Out of Billback Management
Record transactions directly into the billback module when the buyer makes the deal. The system applies periodic wholesaler, POS and/or DSD product movement data to the applicable deals. It matches the product movement with the deal line items, calculates and produces an invoice to send to the supplier. The collection process is monitored through the Accounts Receivable function within the fully automated and integrated FMS Financial Suite of Applications.
FMS Billback Management module automates collection of monies earned through billback deals.
Handles multiple types of Billbacks Transactional Allowance
Addresses the most complex, and most common, types of deals by defining items, length of deal, and case allowance. Product movement is recorded and accumulated against the deal and invoices are generated as required.
Defines a date and billback amount associated with a cooperative ad and automatically generates an invoice when the ad placement is confirmed.
Similar to cooperative advertising except product movement is recorded and accumulated so that the billback income can be earned by store based on product volumes.
Book & Hold
Creates an invoice based on a deal defining anticipated (or committed) product movement and later distributes billback income by store based on actual volumes.
Defines a guaranteed case cost so that any product, which is shipped at a higher cost, results in a billback for the difference.
A ‘dummy’ deal, which is used to provide a basis for accumulated product movement data. This type of deal does not automatically generate an invoice but is often used to provide historical data for future deal negotiation.
Record deals as they happen
Multiple Items per Deal
Multiple Deals per Vendor
Start & Stop-Date Features
Item Validation by UPC or Product Code
Minimize entry errors
Provides item validation during the deal to avoid entry errors that could result in transaction movement mismatches and subsequent under-billing.
Provides user definable classifications for access and reporting purposes.
Timesaver and accuracy feature to establish most commonly used deal characteristics as defaults.
Capture transactions from all sources
The application will accept transaction data from any legitimate source, which provides for the following transaction captures:
Manual entry allows a simple correction capability to compensate for missed deals and/or for missed transaction data.
Integrate billbacks with FMS Financial Suite
General Ledger Integration
When the Invoice is generated, all corresponding GL data is automatically generated and posted.
Accounts Receivable Integration
Invoices are generated automatically with special payment features such as partial and autopay support. Open-item and balance forward customers are supported as well as many other features of interest to retail organizations. Deals are linked with corresponding AR and GL data so that a user can navigate seamlessly from one to the other.
On-line Access for Reporting, Look-ups & Drill-downs
FMS Financial Suite applications are all highly integrated which allows seamless on-line navigation between all modules. Reporting, lookup tables and data drill-downs are available throughout the application.
Each Add, Edit, Delete, Display or Special function is fully securable by user or user group to allow or deny access.
Automate Receivable Transaction Management
Receivable transactions are generated at the headquarters and store levels. Different types of transactions need to be maintained separately for billbacks, trade accounts, NSF and store credit cards. The Accounts Receivable module is a feature-rich application that seamlessly integrates with the FMS Financial Suite of Applications. The module supports open-item or balance forward accounts, invoice and statement preparation and optional discount terms. Sophisticated payment processing includes automated application of payments to invoices and short or partial invoice payment and unapplied cash management. Transaction, customer type or customer can establish finance charges.
Avoid Errors and Manual Processes
Store-based or back-office data collection for invoices and payments, the ability to maintain separate receivable types and the full life cycle from invoice creation through payments and collection management greatly reduce labor intensity. Integration with the Billbacks module eliminates human error, assuming the deals are entered correctly, and drastically reduces overhead by eliminating the labor-intensive manual tracking, calculation and invoicing.
FMS Accounts Receivable module automates the process, including billback integration.
Structured for individual preferences
Customers can be set up to receive either Open Item or Balance Forward statements. Statements are formatted to present invoice transactions, payments and finance charges in either mode. Invoice and credit transactions are posted and maintained within their respective fiscal period. Outstanding and paid transactions can be reported within each history, current or future fiscal period, which eliminates the need for manually scheduling outstanding transactions at the end of a period. The Accounts Receivable module closes within the same process as the General Ledger to assure data synchronization.
Avoid the Need for Paper Records
Maintain historic customer balances and paid transactions for a user defined number of years. This eliminates the need for paper based document retention and facilitates on-line access of historic data.
Transaction Types are User-Defined with Global Grouping
Transaction types can be set up for billbacks, trade accounts, NSF and store credit cards as examples. Each type can have its own general ledger account and be processed and reported separately. Customers can be attached to user definable groups within their type to facilitate inquiry and reporting. Examples of Trade Receivable groupings may include civic organizations, schools, and churches.
Complete Customer Information is Easily Accessed
A user defined alphanumeric Sort Code is established for each customer to allow quick customer access without having to refer to the numeric Customer ID. This Sort Code can be changed at any time to a more user-friendly code or to reflect customer name changes. As each customer is created, the credit limit and credit-limit days are defined. During invoice entry, the system checks the total amount due and the oldest outstanding transaction against the customer’s credit limit amount and days. Each AR Customer has an unlimited free-format comment capability.
Automate Transaction Management
Invoice and other transaction data can be captured through automated custom interfaces Electronic filing for future access eliminates the need for manual paper-based entries and notes. Charge and payment transactions can be captured from store level through the POS system. Payments can be applied automatically by allocating the oldest first or by individually selecting full or partial payments. Payments can also be recorded temporarily as unapplied cash.
Flexible invoicing and statements
Invoices and/or statements can be printed on a cyclical basis or on demand within each transaction type. Statements can include past-due messages and finance charges based on user-defined rates, horizons and minimums. Statements are presented in open-item or balance forward format. Finance charges can be assessed with multiple rates being applied by customer or groups of customers.
On-Line Reporting is Spreadsheet Compatible
FMS applications are all highly integrated which allows seamless on-line navigation between all modules. Reporting, lookup tables and data drill-downs are available throughout the application. The transaction register of unpaid and paid transactions can be displayed or printed as an interim or period-end report.
Automate Employee Information Management
Having the ability to interface from Time and Attendance and Human Resources systems and enhancing the integrity of payroll transactions are very important to the payroll process. Retail Grocery specific functionality such as the ability to process single checks to employees within multiple companies, stores and departments is provided. The system maintains employee demographic information, review dates; deduction information; vacation and leave accruals; union and benefit reporting; and other related information. This eliminates the need for paper based document retention and facilitates on-line access of historic data. Statutory withholding and reporting requirements are maintained within the FMS service relationship.
The Retail Grocery specific functionality facilitates reducing overhead through the Time and Attendance interface, and the ability to maintain current and historic employee data. The system provides statutory, benefit and union reporting.
FMS Payroll/Personnel module automates management of employee information
Comprehensive employee data retention
Access employee information by employee number or alphabetically to provide the following information for each employee:
PTD, FYTD Information and Direct Deposit
Each time a transfer, employment status, or job class change is effected, the previous position and date of change are retained. Significant events or additional employee data can be retained electronically during the employment term for each employee.
Vacation, personal and sick leave data are stored for each employee. Establish multiple leave accrual plans for eligible employees assigned to the appropriate plan.
Payroll processing procedures are user-defined
Multiple-Company structures can be supported as individual companies or with a common paymaster. A single payroll check is issued with a breakdown of earnings and deductions listed by work location. User-definable limits qualify the number of hours and/or maximum gross pay that may appear on any single check.
Employees may be charged to multiple stores and departments and have temporary rates. The system calculates premiums for up to three shifts. Also, the system accepts time entry from time and attendance systems.
Gross earnings are maintained by type with user-defined rate calculation for each category. Withholdings can be taken according to user-selected rules. Employees can have unlimited number of state, local, city, and other taxing agencies under their original employee number. Flexible parameters allow unique deductions with various formulas such as garnishments, savings, bonds, and percentage of disposable income deductions.
Direct deposit is supported by the system for multiple banks per employee with all or a portion of the net to be deposited. Checking accounts, savings accounts and credit unions are supported.
Employee information is available on-line
The on-line display provides a look-in feature for all payroll data including personnel information, employment information, status changes, earnings, and withholding data. All payroll check transactions are retained so that all personnel, union, withholding, benefit, and management information reports are provided from within the system.
Comprehensive reporting is always available
Time sheets, labels, check register, distribution register, voluntary deductions, tax reporting, benefits, master controls, full record print, and many more reports are standard. The report writer allows quick access to the payroll data to display, print or interface to a spreadsheet in a comma-separated format.
Payroll Integrates with General Ledger
Payroll earnings, taxes, deductions, employer’s matching FICA expense, employer’s 401(k) matching contribution and payroll hours are automatically generated and posted to the weekly general ledger. The check reconciliation module maintains the status for issued and cleared check amounts, providing immediate access to check statuses and reducing reconciliation efforts and bank service charges. The differences between check issued amounts and amounts paid by the bank are presented to eliminate manual analysis.