Advanced Financial Ledgers

Advanced Financial Ledgers

Ledgers have come a long way since the beginning of financial accounting, with modern technology facilitating change to allow finance professionals the ability to dive even deeper into their data.

With Aqilla’s full suite of advanced financial ledgers, you could not be better equipped to ensure the efficient and cost-effective acquisition, analysis and presentation of core data on-demand.

The Unified Ledger

A unified or consolidated ledger model is exactly what it sounds like; one, singular ledger for all accounting transactions. The ledger has two entries; a credit entry and debit entry. These records are not replicated anywhere else, rather they are pulled when needed, as required, in real-time upon request by the user. 

Data is stored at the point of transaction, enabling the user to define their own analysis codes, rather than creating a multitude of account and product codes, ensuring that the chart of accounts remains simple and manageable. Benefits and features include:

  • No requirement to reconcile – as all of the data is stored in one singular, balanced ledger.
  • Posting in real-time – means that the moment you post a transaction, any other users will see that transaction appear in their system.
  • Reporting is made simpler with a unified ledger, with user-defined fields (analysis codes) facilitating every feasible reporting requirement that your organisation needs.
  • An inherently flexible coding structure combined with account categorisation allows for the grouping of financial information for statutory (GAAP, FASB, IASB, IFRS, FRSSE and Sarbanes-Oxley) or management reporting purposes.
  • Able to work across multiple periods, making complex month-end procedures and data clear-down processes a thing of the past. 
  • Financial and non-financial analysis can be linked to reference information, document headers and/or at line level for budgeting and reporting purposes.

Document Tracking & Drilldown / Invoice to Cash & Debtor Management

Aqilla enables a consistent approach to document tracking from invoice through to credit, with a range of tools to reduce your debtor days and bad debts, including:

  • Credit checking
  • Clear and flexible aged-debtor reporting
  • Support for direct debiting
  • Auto-matching of invoices to cash received
  • Drilldown from cash payment through to the original invoice document

Purchase to Pay

Aqilla gives the user complete control over the accounts payable process (including accruals). Features include:

  • Full budget and commitment checking
  • Managed workflow
    Discrete authority management
  • Multiple supplier or vendor records can link to a single creditor account (helpful when dealing with multiple locations or branches)
  • The ability to analyse what is due within seconds and present a summary by account
  • Confirm a payment
  • Generate remittances and/or BACS output.

In our industry, it is essential to be able to identify and allocate individual client costs from a single supplier invoice in order to control profitability. Unlike other suppliers, Aqilla didn’t show me the shape of the product, they asked me about our business and the implementation was shaped to fit. I knew it was going to work from both a product and a relationship perspective.

FINANCE DIRECTOR, SWITCH COMMUNICATIONS
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