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Product Overview
OpenAccounts is a financial reporting software developed by Advanced. It is a fully integrated solution aimed at reducing the workload of finance teams, allowing them to focus more on strategic business activities. The software offers a modular design, providing a wide and flexible range of functionalities with numerous standard reports and enquiries. It can be customized to meet specific business needs, and includes tools for workflow, budgeting, and forecasting toimprove workplace efficiency. OpenAccounts boasts a simple and intuitive interface for ease of use, aligning well with real-world processes.Pros
- Modular design offers a wide range of functionalities that can be customized to specific needs
- Simple and intuitive user-interface facilitates ease of use for various users.
- Integrated system consolidates financial information, improving organizational efficiency
Cons
- Focus on mid-sized UK service organizations might limit its applicability in other regions
- Limited integration beyond the Advanced systems or tools
Target Market
Finance teams of mid-sized service organizations in the UK, including those in business services, not-for-profit sectors, and housing associations. Its modular design and customizable functionality make it particularly suitable for the needs of these sectors.About OpenAccounts
Features
- Multi currency/multi lingual capability
- On line or batch processing
- Complete document and batch traceability
- Extensive Audit and control reports for total financial control
- Flexible Chart of Account Structures
- Unlimited Reporting Hierarchies providing Multiple Business Views
- Unlimited Analysis Codes for Reporting & Inquiries
- Over 100 standard inquiries and over 200 standard reports
- 1099 processing and reporting
- Document Imaging of Original Vendor Invoices
- Total integration with spreadsheets (import and export)
Accounts Payable
BASE MODULE
- Flexible Payment Controls
- Secure Cheque Production
- Cash Flow Forecasts
- Powerful Drill Down Enquiries
INVOICE REGISTER
- Departmental Analysis & Control
- Invoice Approval
- Automatic Accruals
Accounts Receivable
BASE MODULE
- Flexible Ageing
- Comprehensive Cash Allocation
- Extensive Credit Control Facilities
- Consolidation of Group Accounts
- Powerful Drill Down Enquiries
INVOICING
- Free format Text Capability
- User defined Invoice format
- Delivery Addresses
Cash & Bank
BASE MODULE
- Multiple Bank Accounts
- Automatic Cheque Reconciliation
- Cash Book Reports
- Central Cheque Register
SUNDRY PAYMENTS
- ýOne-offý Payments
- Automatic Cheque Production
- Linked to Cash Book
Fixed Assets
Includes:
- Structured Asset Code
- Automatic Depreciation
- Links to Purchase Ledger
- Asset History
General Ledger
BASE MODULE
- Flexible Chart of Accounts
- Balances at Posting & Summary Levels
- Powerful Drill Down Enquiries
BUDGETING
- Budgets at Posting & Summary Levels
- Import Facilities from PC Tools
- Unlimited Budgets/Forecasts
COMPANY ACCOUNTS
- User Defined Profit & Loss
- User Defined Balance Sheet
- Working Papers Options
MANAGEMENT ACCOUNTS
- Multiple Organizational Views
- User Defined Library Reports
- Combination of Actuals, Commitments, Budgets & Quantities
CORPORATE ACCOUNTS
- Multi-Company Organizational Views
- Group/Company Consolidation
- Consolidated Reporting in Group Currency
COMMITMENT ACCOUNTING
- Nominal & Project
- Variance Reporting
- Linked to Invoice Update
Project Accounting
BASE MODULE
- Multi-Year Projects
- Detailed Sub Analysis
- Project Hierarchies
BUDGETING
- Unlimited Budgets/Forecasts
- Values & Units (e.g. hours)
REPORT WRITER
- User Defined Library Reports
- Multiple Organizational Views
BILLING
- Invoicing Rules Defined by Workstage
- Partially or Fully Automated
RESOURCE MANAGEMENT
- Enquiries & Reports
- Multiple Billing and Cost Rates
- Utilisation Analysis
- Timesheet Control & Enquiry
Purchase Order Processing
- Flexible Departmental Processing
- Automatic Commitment Generation
- Order/GRN/Invoice Matching
- Budget Checking
- Conversion of Requisition to Order
- Full Integration to Accounts Payable, Commitments and GL
- GRNs Optional
Product Overview
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