General Ledger

The best accountants can focus on achieving the strategic objectives of an organization not getting stuck searching to make sense of numbers – Abel ERPs real-time General Ledger is the bedrock of organizations financial information The Abel General Ledger is able to process very large transaction volumes without hesitation. This is combined with an automatic transaction integrity checking and multiple company/branch handling capability. Automatic transaction posting is provided ensuring that manual postings and journal entries are accurate which reduces posting workload and errors.

Multiple Options on Reporting Structures

Regardless of how you desire to view your financial information Abel ERP has the ability to give you the information you want the way you want it.

You can utilize any the inbuilt real time reports, build your own real- time reports extract through to SQL tables and utilize your preferred BI tool of simply have your critical information sent through to your configurable Dashboards. Regardless of your desire to view complex organizational structures in separated or joined ways the choice is yours. Companies can be consolidated together and separated as a matter of strategic request thanks to Abel ERPs unique company structure capability

Abel ERP allows for the fast and accurate navigation through from the General Ledger to transaction levels through the system simple and effective drill down capability

Structure Your Accounts

Define account codes the way that suits your organization as it is today. You can feel confident in your ability to extend and change structures as your business grows and adapts to a competitive market.

Define your chart of accounts to accurately reflect your business process without the need for convoluted structure or unnecessary complexity. Have the chart of accounts you want in the way that will maximize your business. Simple structure means ease of use; simple numeric codes can be accessed simply by name description or the code itself. The user can define the codes that are most appropriate for their organization and can create very simple categorization to makes the structures robust and logical.

Budget Management

Monitor and control your budgets and combine them with Abel ERP's approvals functionality to make sure budgets stay on track and variances get highlighted. Run multiple budgets and load them simply from Excel or any SQL table, CSV file or XML file extract.

Period Control

With Abel ERP Financials security certified users can transact into both prior and future periods which is fantastic for when human error needs correcting and simplifies month end significantly. Through inputting future transactions remove significant tedium and allows greater visibility for the future and greater control to truly reflect the past operations of your organization

Secure Online/ Remote access

Regardless of whether you are on the road, in a finance meeting or on the factory floor Abel ERP allows you to view transactions input information and reach any detail level you desire through the effective drill down capability.

As financial transactions immediately impact the General ledger which unlike other system can immediately be reflected on in the system reporting capability. Abel ERP empowers financial advisers to make informed decision with the most accurate and up to date information available.

Recurring Journals

Abel ERP has simplified recurring journals allowing the user to define periods and building them quickly and effectively. The user can set them up as auto reversing if that best suits the transacting process. A recurring journal is a journal entry can be entered and posted periodically. Each time the journal will have the same accounts but the amounts could be different. In Abel ERP to create a recurring journal, the user defines a recurring journal template that you use to generate almost automatically the journals periodically. Recurring Journal templates can include fixed amounts or formulas to find amounts based on balances of predetermined accounts.

External Journal Updates

Through utilizing Abel ERPs API or through simply integrating automatically posting journals from external applications such as Payroll or billing systems becomes fast, simple and removes the impact of human error. The setup is simple and you can choose what tool you want to use meaning you can reflect your preferred behaviors.

Journal Entry

Journals can be entered through Abel’s journal entry screen – or you can create them created directly from within Excel or the tool of your choice. This means entries such as accruals may be calculated using your preferred financial modelling tools and with the click of a button the journals are within and reflected in your financial system.

Related Functionality

Inter Company Accounting

As any multi-location business knows, separate locations or business units often have a very high degree of interdependence and share multiple inter-company transactions. These include buying goods for each other and also often locations transferring inventory, manufacturing goods, paying creditors, receiving debtor payments or paying for goods on behalf of each other.  All these transactions require inter-company or inter-branch accounting processes. To simplify and unify this process, Abel provides inter-company documents (branch invoices) that are automatically produced in the host location and subsequently transferred to the remote location (branch transfers). Each document performs the correct accounting necessary to balance the inter-company accounts on consolidation. This includes providing for foreign currencies and different local taxation regimes. The system will auto-generate the reciprocal document at the remote location. Data accuracy is ensured and significant gains can be made in productivity through time and resource saved.

Cash Management

“Cash is King” The liquidity and the nature of a company’s cash situation is critical to knowing how well organisations operations are being managed. With Abel ERP knowing the amount of cash on hand from moment to moment is as simple as clicking a button regardless of how complex and large your organisational structure. With Abel ERP you can have numerous bank accounts that can transact in and local/ foreign currency and be immediately reflected within the system as converted rates to the systems base currency.

Abel is a fully integrated ERP which provides both Accounts Payable and Accounts Receivable to immediately update whenever cash payments or receipts are entered. Abel ERP has removed the human error of entering bank statements through simple automation of the entry process. Abel ERP can link with your preferred bank.  With Abel ERP it is easy to reconcile any differences by looking at very recent transactions in either the bank statement or your organisation's own accounting records (cash book) and seeing if some combination of them tallies with the difference.  Historical cash flow reporting is available on all bank accounts, detailing what was paid for during an accounting period regardless of when the accrual was made.

Reconciliations

At Abel we understand that account reconciliation is a critical control to help ensure your organization's financial integrity. If you or your team are making mistakes in the reconciliation process it will often lead to mistakes on the balance sheet and overall inaccuracies in the financial close. This can lead to significant time wastage as your investigate anomalies. Abel ERPs traceability and approvals mechanism allows you to effective comply with Sarbanes Oxley. The accuracy of your organizations account reconciliations is now very important to your auditors.

Foreign Currency

Abel Multi Company Accounting provides for full foreign currency handling and reporting across an unlimited number of currencies for international suppliers, customers, bank accounts, and inventory price lists and costs. Exchange rates can be updated as often as required with realized and unrealized gains or losses automatically calculated and tracked. Abel automatically reports any variances and your business’s total exposure to each currency.

Reporting

Abel ERP Reporting empowers you to quickly and easily obtain the information required for improved operations and reporting across your entire business. Abel allows you to choose between an internal report writer BI tools and configurable dashboards so you can effortlessly create reports and analyze data, improving your visibility into your organization.

Transaction Analysis

Abel ERP allows users to search and interrogate the General Ledger and associated transactions with its unique and powerful drill down capability. Abel ERP utilizes its powerful messaging and communication history to create transaction history notes and attach any relevant information

Advanced Security

Abel ERPs security provides robust security option significantly greater than the standard security that is included with the majority of ERP systems. The combination of the systems security controls and the approval functionality allows you to control exactly which customers, suppliers and General Ledger accounts that a user can access. You can also control each user’s ability to add, change or delete as separate security options. The system audit trail and log files know if someone has even attempted to access an area of the system they should not have access to.

Inter-Company Documents

As any multi-location business knows, separate locations or business units often have a very high degree of interdependence and share multiple inter-company transactions. These include buying goods for each other and also often locations transferring inventory, manufacturing goods, paying creditors, receiving debtor payments or paying for goods on behalf of each other. All these transactions require inter-company or inter-branch accounting processes. To simplify and unify this process, Abel provides inter-company documents (branch invoices) that are automatically produced in the host location and subsequently transferred to the remote location (branch transfers). Each document performs the correct accounting necessary to balance the inter-company accounts on consolidation. This includes providing for foreign currencies and different local taxation regimes. The system will auto-generate the reciprocal document at the remote location. Data accuracy is ensured and significant gains can be made in productivity through time and resource saved.

Multiple Document Handling

Many businesses operating over multiple locations choose to run each location within its own dedicated database. But while this is good for maximizing processing performance, high-speed data transfers and reducing the risk of internet network outages, it can make getting a single view over financial performance across the whole business a challenge. Drawing on significant experience in working with manufacturing and production organizations in particular, Abel Corporate View is a unique tool designed to give you the best of both worlds. It allows multiple locations to run independently yet at the same time provides a consolidated financial view supported by automatic inter-database transfers. To do this, each database location synchronizes its general ledger account balances with a mirrored account structure in a head office database, resulting in an automatically-generated organization-wide, consolidated view of the financial accounts. In the head office system, Abel branches can be defined as external and be provided with database connection details enabling users (with the required credentials) to have automatic transparent access into any external branch database. To drill down into the actual data within an external database the user simply selects the desired branch, or performs a double-click on the summary information in the head office system. Security in the remote location database is controlled as though the user had directly signed on. Note: Consolidation reports across currencies use standard GAAP principles.

Multi-Currency Multi-Language

Abel ERPs allows the General Ledger of your company to be reported in a different currency, using a user-specified or bank linked exchange rate. No transactions are created by the translation process, and are available for reporting immediately. The General Ledger can be reflected in any of the systems currencies while still maintaining the drill down capability to transactional level. Exchange rates can reflect opening, mid and closing rates and can be updated real-time thanks to the powerful Abel ERP API. Even more impressively the General ledger can be translated and be in dual language so that global companies can view the same information getting the same insight at the same time regardless of the language.