Financials – AR, AP and GL

From the initial inception of the rentalresult system we have always provided our own, fully integrated financials. About 95% of our customers use our financials in full, with some of those exporting GL data to corporate systems as well.

Throughout the rentalresult financials, you will find specific features designed to enhance the financials from a rental business perspective. This includes things such as automated rental accruals and automated revenue recognition for future billing. Key features are listed below.

Financial features include:

• General Ledger fully integrated with all operational, financial and asset based modules.
• GL supports up to 5 levels within the GL code, with up to 35 characters in total allowing most GL structures to be handled with ease.
• All GL postings captured at Company level for multi-company and individual company consolidation.
• Detailed GL Inquiry with full drill down from GL Main head to individual document postings, through all levels of the GL Code. At the base level of a GL code, the user can drill through to the asset that created the posting.
• Ability to load multiple budgets including period based weighting.
• Ability to load journals from spreadsheets.
• Accounts Receivable module including AR control center designed to provide a 360° of current customer account position including ability to post cash, raise credits, approve credit requests etc.
• Real time access to invoice and rental and sales contract history for credit controllers with easy drilldown and reprints to fax, email or printer.
• Accounts Payable module including AP control center designed to provide a 360° view of current vendor account position including ability to post invoices, register invoices, enter payment information etc.
• Automated Goods received not invoiced accruals.
• Automated rental revenue accruals.
• Automatic revenue recognition for all invoices raised in advance.
• Management of automatic payments eg BACS, Swift etc for both AR and AP.
• Lock box upload for North American clients.
• Automatic bank reconciliation and bank transfer management.
• Cash Drawer or Till reconciliation and deposit tracking for dealing with cash (i.e. not credit) customers.
• Internal document management for associating documents etc to customers and vendors.
• Full audit control of all financial and operational activities delivering the security and transactional controls required by new legislation such as Sarbanes-Oxley or IFRS.