Focus 8 has reinvented the General Ledger module completely in order to make the data experience easier and faster than ever. Role, user and region-specific layouts, views and controls enhance your productivity and user experience ensuring quick results every time. We have automated as many functions as possible including recurring and reversal journals with varying definition parameters to ensure that you remain free to focus on more important activities.
- Multiple “Accounts Masters” and Views facilitate various modules including Accounts Payables, Receivables and Final Reports
- Multiple charts of accounts allow you to take final reports in country/region specific formats (e.g. US-GAAP, IFRS, etc.)
- Automated Recurring & Reversal Journals with parameter definitions including effective date, values, frequency type, etc. ensures that Focus 8 remembers & executes repetitive tasks for you
- Multi-currency capabilities are exhaustive and allow you to define global base currencies, department/branch currencies, reporting currencies, etc. Currency gains and losses are automatically computed and posted according to rules that you define
- Department & Cost Center capabilities allow you to allocate overheads and appropriate them across various accounting heads
- Administrative features are flexible in allowing you to define your period of closing, inter-company transactions, group company consolidations, etc.
Cash, the core essence of every organization, requires particularly detailed attention on its management, allocation and flow. The advanced cash management capabilities of focus 8 allow you to efficiently optimize your cash capabilities through intelligent and effective user interfaces.
- Execute Bank reconciliations automatically through mapped bank transaction statements
- Manage exceptions from the reconciliations (e.g. carry forward uncleared cheques, pass bank journals for bank charges, etc.)
- Manage & define multiple currencies for cash and bank accounts
- Integrate cash flow calendar with post-dated payments & receipts with reminder notifications including tenure based instruments for maturity. You can see both clear and unmatured balances through the system
- Cash flow calendar also shows you your receivables and payables ensuring that you plan your cash flows efficiently and effectively
- Automatically post currency exchange gain/loss transactions based on the billed and paid amounts & currencies
- Automate Tax entries and posting of Direct VAT/GST and various other tax calculations from payments including taxes to be deducted
- Execute vendor specific statements and aging analysis based on parameters such as outstanding, adjusted, pending only, cut-off dates, predefined slabs, etc. and choose whether to include or exclude post-dated instruments
- Automatically create budgets based on parameters based on previous year budgets, actuals, percentages or period based appropriations
- Allow department or cost center based budgetary planning
- Exercise strict control & monitor performance of actuals against the defined budgets and set restrictions, warnings and alerts
- View budgets within the cash flow calendar to compare actuals with budgeted flows
- Flexibility in the budgets module allows you to create multiple budget revisions for multiple and variable periods of months and years
Accounts Receivable & Delinquency Management
- Discount terms lets you decide the discounts applicable on a wide variety of parameters such as customer, invoice, master, item, group, value, time, settlement etc.
- Manage Currency Gain/Loss settlement differences & postings automatically post receipt of collections
- Settle bills through multiple options based on FIFO adjustments, bills of specified due dates or as advances
- Delinquency management allows you to define follow up methods, intervals, and formats which can be triggered on various parameters such as customer, date, overdue by, finance terms and other scenarios.
- Execute customer specific statements and aging analysis based on parameters such as outstanding, adjustments, pending only, cut-off dates, predefined slabs, etc. and choose whether to include or exclude post-dated instruments
- Integrates financials across departments
- Monitors organizational health in real-time
- Enables control & risk management
- Improves management effectiveness