DEPARTMENTAL USE -

ACCOUNTING

Prevent errors and improve accuracy with access to and control of your accounts and financial information

 

CloudSuite Industrial and Process

General Ledger

  • Full G/L drill down to source documents for speed and ease of research

  • Control your chart of accounts across your enterprise for consistent reporting

  • Statistical accounts supporting your analysis tools

  • Ability to define control accounts to prevent manual overrides

  • Create recurring journals, reversal journals and automatic allocations based on rules you specify simplifying month end procedures

  • Account class to automatically feed reporting

  • Multi-site transfer accounting automates inter-company financial transactions and inter-company financial consolidation

  • Excel Financial Report Writer for ease of reporting

  • Unlimited user-defined dimensions supporting your Business Intelligence

 

Accounts Payable

 

Streamline and simplify the critical daily tasks that make sound financial management possible with: 

  • Centralized AP payments for better financial control

  • Create vouchers automatically through POs/receipts matching for improved accuracy

  • Vendor and voucher hold

  • EFT with remittance advice

  • Multi-currencies within a single vendor 

  • Track 1099 vendors and payments

  • Assign default vendor G/L accounts for better expense management

  • Write checks "on the fly" in support of immediate payment of invoices

  • Support positive pay to prevent fraud

Accounts Receivable

Obtain the accurate, real-time information you need to make immediate decisions about extending credit limits, collections, and managing a key component of your cash flow. Features include:

  • Centralized or decentralized AR cash receipts across multiple sites

  • Consolidated invoicing by period or group of shipments to support international transactions

  • Adjustment invoices to override order entry errors

  • Credit management including customer and order holds for increased collection control

  • Manage surcharges on volatile material content

  • Supports complex invoicing terms e.g. 30% in 30 days; 30% in 60 days; 40% in 90 days and aging reports based on terms

  • Supports Three-tier customers (bill-to, sold-to, ship-to)

  • Tools to produce pre-defined dunning letters for collections

  • Finance charges

  • Multi-currency

  • Multi-lingual invoices, credit memos and statements

  • Generate credit memos from returns

  • Import electronic payments from bank files

  • Chargeback processing

  • Sortable, filterable with drill-down AR aging

Multi-currency

  • Maintain currency rates and tables

  • Use either fixed or variable rates

  • Euro conversion tools

  • FASB52 compliance

  • Recognition of currency exchange rate gains or losses

  • Maintain G/L in your domestic currency

  • Customer orders defaulted in your customer's currency

  • Purchase orders defaulted in your vendor's currency

  • Print checks in vendor's currency

 

Fixed Assets

  • Prevent storage of unused assets with cradle-to grave asset management including parent/child relationships 

  • User-defined asset numbers for ease of asset management

  • Unlimited number of asset classes

  • Comprehensive asset definition

  • Seven predefined depreciation methods

  • Multiple depreciation schedules for each fixed asset

  • Partial depreciation

  • Link to POs

  • G/L interface

 
 

CloudSuite Tax Interface (Multi-Tenant Cloud supports AvaTax Only)

Infor CloudSuite Tax Interface performs all aspects of the tax compliance process, including

  • Billing

  • Collections 

  • Remittance

  • Audit trail maintenance.

CloudSuite Tax Interface provides a seamless interface between CloudSuite Industrial and tax management systems from AvaTax, Taxware, Vertex, and Quantum. These tax management systems and the CloudSuite Tax Interface work together to:

  • Streamline the sales tax compliance process

  • Reduce administrative costs,

  • Improve customer satisfaction and

  • Minimize compliance risks.

Avalara AvaTax (CloudSuite Tax Interface required)

With real-time rate calculation and automatic return filing, AvaTax is the go-to solution for businesses of all types and sizes. AvaTax works with the software you already use — from ERP or accounting systems, to your eCommerce platform.

No more manually entering data or uploading rate tables and tax information! AvaTax works in the cloud, giving you a hands-free and worry-free way to manage compliance. No other sales tax automation software comes close to providing the superior features and peace of mind of AvaTax.

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