Financials

EMDECS Financials are transportation industry-oriented with real-time management information and flexible budgeting options. Multi divisional reporting capabilities help you focus on the performance of various profit centers in your company. EMDECS Financials include General Ledger, Accounts Receivable, and Accounts Payable. EMDECS offers interactive on-line financial data in a flexible reporting environment, with no programming required. The program is menu-driven, easy-to-use, and provides any level of detail you need even letting you drill down to specific transactions.

The Accounts Receivable Module handles customer invoicing, as well as customer receipts and adjustments, while the Accounts Payable Module manages inventory and non-inventory invoices.

Other operations include journal entries, General Ledger accounts, producing balance sheets and financial statements.

Integrated Accounting

Benefits:

• Accounting system can be integrated with all other EMDECS modules
• Integration provides flexibility and convenience to handle a wide range of accounting activities
• Balance sheets and financial statements can be processed immediately
• Provides efficiency as well as accuracy for accounting activities
• Improves accounting accuracy and allows reconciliation
• Offers simplified and standardized processes for business flow

General Ledger

• The General Ledger is the core of the accounting system that maintains the principal level of financial information and provides you with a total financial picture.
• Journal entries are created automatically by the system and every journal entry maintains a cross reference to its source document and is easy to track with the EMDECS built-in drill-down capabilities.
• Immediately updates all files from both the General Ledger and all integrated subsystems.
• Posts to multiple fiscal periods or years.
• Provides variable length, user-defined account numbers and types, so you can retrieve accounts using short, easy-to-remember names or numbers.
• Closes accounting periods of multiple companies at different times, if desired.
• Trace any account balance to its source transactions and drill-down to the actual PO or Work Order.
• Allocate corporate office charges across a number of facilities based on revenues, and so on.
• The Financial Statement Generator summarizes an account's assets, liabilities, capital, and retained earnings, and is activated by defining the report components and running the report with a single mouse click. This function allows rapid generation of up-to-the-minute, customized reports for review.

General Ledger, Automatic Journals & Financial Statement

Summary

Journal entries are created automatically by the system for each module described above. Each module is identified with its source code and every journal entry maintains a cross-reference to its source document. The following capabilities are available within the EMDECS Financial Module and may or may not be available with other financial systems interfaced to EMDECS.

Direct Drill Down to Source Entry

By having the supplier invoice number, cheque number, customer invoice number, cash receipt number, and so on with each journal entry, the user can easily pin point the source of the entry. Furthermore, upon viewing the journal entry on the screen, the user can double click on the reference number and drill down directly to the source entry.

Separate Period End Control

Period end control is separated by AR, AP and GL. The user can close AR, or AP separately, and as long as both AR and AP are closed, the user can then close the GL. If mistakes are uncovered later, an authorized user can re-open the periods and close them again after corrections and the postings have been made.

Multiple User Defined Financial Statements

The system allows the user to setup a number of financial statements from any GL accounts. Each financial statement is setup with summary line items and a sequence number, description, and list of GL accounts included in the line. A summary line can be designated as totals or sub-totals, and list of other summary lines are to be included in this total line.

Financial Statement Printed or Exported to Spreadsheet Programs

• Financial statements can be printed from EMDECS or exported as an Excel or Lotus spreadsheet for custom editing by the user.

Accounts Payable

• With EMDECS /AP, you are empowered to manage cash flow to your advantage. Using powerful forecasting and reporting tools, in combination with on-line real time data, you are always in complete control of your accounts payable and cash disbursements.
• Maintains multiple bank accounts in multiple countries.
• Automates invoice processing and check writing. Cash may be disbursed using checks, wire transfers, drafts, or any other method. Forecasts cash requirements to help you make payment decisions.
• Utilizes tax codes, calculates sales tax to a voucher, applies tax exempt status, prints forms, and performs automated tracking.
• The Payables system assists in managing procurement cycles, allowing high transaction volumes and controlling cash flow.
• The Payables cycle consist of entering invoices, approving invoices for payment, selecting and paying approved invoices, and reconciling payments with bank statements.
• To maintain efficiency, invoices can be set up to flow straight through for payment within the Payables system, holds should be the only exception, where invoices require interference before being paid.
• The EMDECS Payables system regulates invoice payments by automatically selecting all invoices that need to be paid, based on specified criteria, and generates appropriate payment documents.
• By reviewing the payables liability account line in the proper FSG balance sheet report to the standard Payables Trial Balance report, reconciliation of the Payables sub-ledger with GL can be performed.

Accounts Receivable

• The Receivables system effectively manages the customer base, invoice, and receipt processes.
• Customer information can be found in the system by using the Find Customer window and searching by phone number, city, state, province, country, postal code, and other parameters.
• The Receivables system creates default Accounting fields for revenue, receivables, freight, and tax, based on other specified parameters.

Asset MANAGEMENT

• The Assets system incorporates physical upkeep, asset tracking, and financial administration.
• Cradle-To-Grave Asset Tracking & Management
• Unlimited user defined specs and features under corporate control
• 'Clone' a unit to multiple units
• Setup many units at the same time quickly
• Maintain equipment re-location audit trail
• Ability to define any equipment readings for any unit
• Track Multiple Historical Readings
• Direct drill down to any other historical data
• Depreciation - Multiple Methods/Books
• Debt Notes, Loans, Liens
• Profit & Loss by unit/pool/facility/customer
• Specifications, Purchase Orders
• Parent-Child for Attachments
• Disposals - Sale, Invoice, Commissions
• Cost per Metric Reports - miles per gallon, cost per 32 nd
• Enforces standards for accurate corporate reporting
• Instantaneous access for any relevant information for making day to day and management decisions
• Chargebacks and Allocations
• Licenses & Permits
• Equipment Detail
  

Accounting Interface/Integration

Automated Drill-down capabilities are enabled for the following document types:

• Internal WO cost
• WO customer invoice
• Parts purchase
• Sublet invoice
• WO Time sheet