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Automate Accounting Processes
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Summary Information
eCity has the flexibility to meet all of your accounting challenges. Your GL account number can be any length and can be divided into any number of elements. The account number will default automatically as you add lines to purchase orders. Accounts for non-inventoried purchases can be overridden.
Inter-company transactions are balanced through inter-company payables and receivables accounts automatically. Your books will always remain in balance by company.
Sales and use taxes are calculated automatically. eCity allows you to record a liability if the supplier omits the tax on a taxable item. Liabilities are recognized by taxing jurisdiction for these “direct pay” items.
General ledger accounts default automatically based on the type of product and the organizational unit (entity, division, cost center, job etc.) receiving the goods. Allocation formulas can be attached to a purchase order or a line item.
With eCity you no longer have to manually prepare accruals for goods received but not yet matched invoices. Accrual account(s) are updated automatically as goods are received invoices matched.
Additional charges such as freight and handling can be added to a purchase order and automatically apportioned to all of the line items based on the value or weight of each. These charges can also be “capitalized” in inventory and charged out as material is issued.
In eCity all financial transactions are posted to the Ledger on a real time basis. eCity allows you to seamlessly integrate with your legacy general ledger or step up to the capabilities of eCity’s Advanced Financial Management module.
When integrating with your legacy general ledger, eCity validates accounts, provides closing and fiscal period control and exports journal entries in a published format. An option allows you to validate your general ledger accounts by accessing your legacy system. Inquiry forms allow you to drill back form journal entries to source documents in all eCity applications.
The eCity Advanced Financial Management application adds to the control ledger extensive journal preparation, consolidation, budgeting, management reporting and analysis facilities.
Features
- User defined account structure
- Accounts derived automatically
- Allocation formulas at the order or line item levels
- Support for multiple companies and currencies
- Automatic inter-company balancing
- Maintain sales and use tax liability
- Automatic receipt accruals
- Apportion shipping and other charges
- eCityConnect integrates with external ledger systems
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