Financial Managment

The General Ledger module is a fully integrated financial database that includes on-line inquiry, flexible reporting, and drill down features to quickly locate the data you and your staff need. Your organization defines its own custom account structure including up to 13 segments and a total of 50 characters. This means that the accounting structure conforms to your financial reporting requirements, whether you have one fund or a thousand funds. 

Financial transactions entered in subsidiary modules flow seamlessly into the General Ledger thereby reducing data entry time and ensuring the accuracy of the data. Depending on their level of authorization, staff can track a single transaction throughout the system, report on the financial status of an individual department, or issue consolidated financial statements for the entire organization. 

The General Ledger provides user-specific security controls to each department allowing them to view and report departmental data, distribute financial reports via email, and generate Microsoft Excel® spreadsheets.

The Purchasing module shortens the time-consuming paper trail it typically takes to generate an order by electronically approving purchases, verifying available funds on-line, and e-mailing purchase orders to your vendors. 

The system allows you to accurately manage your encumbrances at the purchase order, vendor, and account levels while tracking both your posted and work -in- progress obligations. You can easily monitor the progress of an individual purchase throughout the system or review the encumbrance status of a vendor, department, or even the entire organization by using the extensive on-line inquiry and reporting tools. 

The commodity items component allows you to track what you’ve bought, from whom, how often, and how much you’ve paid. 

The Vendor Browser and Dashboard allow you to quickly respond to inquiries regarding vendors, orders and payments. In addition, the module integrates fully with BIDS and CONTRACTS. 

Easily manage your payables at the voucher, vendor and account levels while tracking both posted and work in progress obligations. Track an individual payment throughout the system, report on outstanding payables by vendor, department, or the entire organization using extensive on-line inquiry and reporting features.

The Accounts Payable system provides security controls by vendor, department, account number and payment type to ensure secure departmental entry of vendor invoices while allowing centralized processing of the actual cash disbursements. Standard features include allowing users to electronically route and approve expenditures, liquidate encumbrances, issue 1099’s, process vendor discounts, manage cash, and analyze spending patterns. 

When processing checks, the flexible filters (due date, discounts available, amount due and more) make it easy to select which bills to pay. Consolidate multiple invoices onto a single check or, when the need arises, issue separate checks per invoice to a vendor. Easily void a check with the option to re-open the voucher for a later payment. 

Electronic bank reconciliation features allow you to report all issued and voided checks, receive a list of cleared checks, produce an outstanding check register on-demand, and reconcile your bank statement.

The Budget module provides the core of successful financial planning by optimizing the entry, analysis and modeling of your financial data. The system allows you to create and manage your annual operating, personnel services, and capital projects budgets from a single point of entry. The system provides the analysis and reporting tools you need to prepare your annual budget and perform extensive “what if” analysis. The system produces the information in a variety of flexible formats: detailed worksheets, spreadsheets, and analytical reports suitable for both “bottom-up” and “top-down” budgeting. Operating: Define revenue and expenditure line items with unlimited text and up to five levels of service. Add new budget accounts, merge departments, and compare prior year budgets and actuals. 

Personnel Services: Budget salary and benefits for all positions (both filled and vacant). Drawing data from the Human Resources module, the Budget module easily forecasts step increases, additional wages, longevity, benefit increases, and COLA adjustments. 

Capital Projects: Manage the funding sources and multi-year expenditures of all your capital projects. Appropriate the current year outlay, add unlimited text justifications, and produce a wide variety of worksheets.

Use the BIDS module to create a new bid, specifying dates, types, and the requesting department.  Generate bid documents in standard spreadsheet format, distributable to vendors or for posting to a web site. Track bid responses from qualified vendors. Once responses are opened and evaluated, a bid may be awarded to a single or multiple vendors.  Awarded vendors may be replaced when required, the bid type maybe changed, and a single vendor may easily be applied to multiple lines on a bid. Once the bid is awarded, the items on the bid are used by the Purchasing module and in turn by the Accounts Payable module.  

CONTRACTS
Enter contracts, issue purchase orders against them, and pay the purchase orders using the AUC Accounts Payable system. A contract can have multiple components, with retainage amounts and overspending controls for each contract item. The system tracks purchase orders, payments and retainage withheld. Retainage payments may be processed at any time during the life of the contract. Contracts are independent of the fiscal year, so can remain open over multiple years. 

The Fixed Assets module provides three methods of centralized data entry via a convenient steps menu. Assets may be created from existing vouchers, uploaded via a spreadsheet, or entered manually into a data entry screen. 

Fixed Assets may be linked to the GL accounting interface eliminating the need for journal entries to book assets. 

The module offers transaction based processing and reporting and robust, flexible queries.

Depreciation is automated via a steps process, requiring no manual calculation, with the option to override depreciation calculated by the system. 

In addition, the module provides the user the ability to generate Inventory Tags.