Nominal (General) Ledger
Prophet 21's real-time Nominal (General) Ledger provides up-to-the-minute financial statements, giving you a better handle on your company's financial situation as business is transacted. And, since the Nominal (General) Ledger is real-time, it eliminates labourious day-, month-, and year-end processes.
Capabilities
- Information passes through the solution in real time
- Extensive Sales (Accounts Receivables) and Purchase (Accounts Payables) Ledger functionality
- Online cash collections capabilities
- Detailed audit trails
- Real time financial reports
Benefits
- Streamlined processes
- Better money management
- More accurate, reliable information
- No end-of-day, month or year process
Prophet 21 gives you the ability to run daily financial reports, and drill-down capabilities allow you to access historical information for faster auditing. Detailed audit trails offer information about all of the transactions entered into your solution - including who amended them and when. For example, if an inside sales representative takes an order and an outside sales representative changes several items upon a customer's request, you can drill into the transaction to view time- and name-stamped notes. This eliminates commission discrepancies while making it easier to track every step of every transaction that passes through your business.
Sales Ledger (Accounts Receivable)
Prophet 21 offers extensive functionality to help you better manage SL (AR) processes. For example, you can consolidate payments for corporate accounts, apply cash receipts to multiple invoices, convert foreign currencies, and much more.
Prophet 21 also enables you to track your customers' outstanding invoices and set alerts when days or balances exceed certain levels. Notes and follow-up capabilities provide a history of conversations to help during collection calls. In addition, by printing collection notes on aged trial balances, you can focus on those customers who owe the most money for the longest period of time.
Purchase Ledger (Accounts Payable)
Prophet 21 streamlines your PL (AP) processes by integrating your inventory receipts and purchase orders. Check processing and payment processes ensure that you do not lose discounts and that bills are paid on time. You may even choose payment types by vendors or invoices.
Plus, rebate functionality offers a solution to the task of managing rebates manually. Prophet 21 enables you to track every step of the vendor rebate process - from negotiation to receipt and beyond - electronically.
For more information on Activant's enterprise software solutions, please fill out our Web Contact Form.
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