I’ve often wondered why accounting systems aren’t designed to help automate the month end process. We’ve all been there, managers screaming for month end results and you’re bogged down with complex accruals spreadsheets and reversing journals. You’re analysing a balance and all you can see is endless identical debits and credits for month end postings, masking what’s actually going on.
So wouldn’t it be great if you could tell your system when your income or cost needs to be recognised and let it figure out when to post to the profit and loss account. Well with FinancialForce Accounting and Revenue Recognition you can do just that. Simple to set up and as it’s all Salesforce based, easy to report on and modify to link to underlying records that drive income and costs. All system based with a proper audit trail that anyone (with appropriate access) can see. Get the system to tell you what makes up your deferred income balance – in real time.
And what’s more, as well as taking control of P&L postings, the system knows future postings, so it’s easy to report on e.g. future revenue.
No spreadsheets, no reconciliations, come on accountants, let your finance system do the boring stuff so you have more time for value added analysis.