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De Facto Software Ltd.
Epsilon House
West Road
Ransomes Europark

Ipswich
Suffolk
IP3 9FJ
UK
 

01473 276555
 
 

Office Hours



Monday — Friday

 


Financials

Financial Software

Dedicated features

Maximise the productivity of your finance team with De Facto®

Financial Software – Suite Wide Features

Overview

Dedicated features ensure the De Facto® Financial Suite saves time, improves accuracy and increases security

  • Transactions posted in other De Facto® modules are updated to their respective ledgers instantly
  • Define specific authorisation rights, including adding, editing and viewing data
  • Ability to handle local, specified or mixed currency postings with exchange rates retrieved from module-based tables
  • Define up to 56 periods for one year and create any number of financial years
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More Detail

Modules within De Facto Financial Software share suite wide features which include:
 

Immediate Update

Financial postings for transactions such as invoices and accruals from all De Facto® modules are immediately updated to their respective ledgers including the Nominal Ledger.
 

Tight User Security

Permissions are created in the De Facto Administration module for users and profiles to allow specific authorisation rights on adding, editing or viewing data.
 

Up to the Minute Reporting

Immediate update means that management reporting is always up to the minute. Key De Facto reports can be reproduced retrospectively. Summary reports can also be run at a detail level, to back up information. Reports can be produced in local or foreign currency.
 

Multiple Company Consolidation

Enables Nominal Ledger consolidation for multiple companies. The consolidation can be automated if all the companies operate on servers based on the same local area network. For discrete remote networks, then consolidation files can be extracted and emailed centrally for consolidation. Third party company data can be brought in via import or manual entry. Elimination journals are created in the consolidation company.
 

Multiple Currencies

Any number of currencies can be used, with individual customer and supplier accounts allowing local and specified currency postings. Nominal accounts will allow local, specified or mixed currency postings. Exchange rates are retrieved from module based tables, specified on a contract or handled per transaction. Automatic profit or loss on exchange journals are created when currency transactions are processed. Additionally the Nominal Ledger allows easy revaluation journals for whole account balances to be posted. All reports have options to show local, foreign or both currencies. An exchange rate history log is maintained.

Easy Period End

De Facto Financial Software allows up to 56 periods to be defined for 1 year and any number of financial years to be created. It is simple to open and close periods with any number open at a time. Default posting periods can be defined per module with user restriction as to who can select periods other than the current one. The Period end process is to update from an open “tick” to a closed “cross” in period control for each module. These can be switched on and off as required.
 

Fast Year End

Year End processing is fast and straightforward and can easily be re-run if prior year postings have been made.  
 

History Retention

Historical information is instantly available throughout the Ledgers by selecting previous years and periods in the normal processing screens.
 

Transaction Date

Valid dates can be optionally set to control the dates on transactions which have a nominal implication or can warn against transactions being posted with a wrong date.
 

HMRC Compliance

De Facto Financial Software has the facility to handle multiple VAT registrations for companies with international registrations. Comprehensive reporting is available for VAT returns, EC Sales Lists and Intrastat reporting. VAT transaction handling is included in all modules, including VAT triangulation.

 

Get in touch

Contact us today to discuss your business needs with our software team.
Phone icon  01473 276555
 


 
 
 

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