De Facto Nominal Ledger Software allows the finance team to define the financial structure for individual companies and, using the consolidation module, the way in which a whole group is structured and analysed.
Free format chart of accounts and cost centres
The starting point is the creation of business specific logical and intelligent, free format charts of accounts and cost centres. Further reporting dimensions are provided by the creation of analysis code groups for nominal accounts and cost centres and where applicable by the integration of the Job Costing module.
Individual Nominal Ledger accounts
Full system integration to other ledgers allows users to quickly drill down from a nominal ledger account enquiry to view the originating transactions. Individual accounts and cost centres provide a summary of all transactions in local and foreign currency enabling quick and easy access to all accounting entries at a summary or detailed level, filtered by cost centre or account if required.
The Nominal Ledger can also collate weight, volume and quantity data for use in quantity based accounting. This is especially useful in providing informative reporting within commodity based organisations.
Multi-dimensional structures allow informative reports
Multiple multi-dimensional structures for accounts and cost centre are supported, which are used as the foundation for well formatted and informative reports. These structures provide an effective way of enabling multiple styles and formats of Financial Statements to be produced to comply with various international and internal management requirements.
Multiple budgets and forecasts
Multiple budgets and forecasts are created and stored in the Nominal Ledger; these can include foreign currency and quantities. Budgets can be based on existing data or imported from spreadsheets. Individual budget amounts can be spread across periods, flexed up or down or transferred between accounts.
Three analysis codes can be created for each nominal account and cost centres. These can be used to create flexible, formula driven allocation of costs within nominal ledger postings or within reporting.
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