Accounting Engine is a comprehensive frame work to address generation of accounting entries with all perceivable variations. This includes processing of the data and generation of Accounting Entries based on the Criteria and transaction/record attributes defined in the system. This data can come from any third party systems. The Accounting Engine will have the centralized logic to read from the transaction data and generate the accounting entries based on the parameters defined.
Key Features
- Event and Criteria Field Setup
- Accounting Entries Setup, Generation
- Handover of Accounting Entries
- Support Multiple Accounting Standards (US GAAP, IFRS etc)
- Transaction Reporting & Accounting
- Batch or online posting to the general ledger
- Backdated/Current/Future Dated Transaction
- Store & forward entries
- Audit Trail Reports
- Validation rules including balance validation
- Maintain accounting rule as per the geographical location
- Traceability of account events – journal entries to transaction feed
- Manual entries, reconciliation & error handling