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Flexible Transaction Entry and Processing
De Facto® functionality allows flexible entry and processing of journals using several types of process. Journals can also be imported when coming from external sources. Journals are viewable for all entries created as system journals from other modules.
Multiple References
All journals have the ability to have multiple references (including system applied journal numbers) with comprehensive descriptions and notes held against both the Journal itself and each line item. These can be especially useful to prevent non-finance users having to request additional information from a finance department.
Fast Entry
Like all types of transactions within De Facto, journals can have fast entry configured to minimise unnecessary key strokes with repetitive tasks. They can also be configured to use additional levels of analysis beyond those provided by the nominal ledger accounts and cost centres. They are also able to have memo links to customers and suppliers to enable further flexible analysis.
Filing Cabinet
Journals can also take advantage of De Facto's 'Filing Cabinet' and Document Management System to both store working papers and, where applicable, automatically process for instance, spreadsheets to create journals.
De Facto functionality allows effective entry and processing of many different transaction types:
Journal Posting
Journals can be created as a one off, recurring, template or “base on” duplications. They can also be created to reverse in the next period. Definable VAT inputs and outputs, currency and quantity based items can also be handled.
Prepayment Posting
Multiple prepayment profiles can be created, to spread costs automatically across periods. These can be activated directly from within the Nominal Ledger or from subsidiary postings. They allow the user to select from pre-defined profiles or to manually specify how the value is to be spread.
Receipts and Payments
Can be created directly within the Nominal Ledger which are integrated with the banking module, providing fully integrated cash book functionality.
Automatic Posting
The system will automatically create distribution journals that reanalyse postings across different nominal ledger accounts and cost centres following rules specified. The automated postings can also be configured to construct automated inter-company journals.
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