Suite-wide Features - Financials - In Depth

de Facto S5 allows multiple companies to be defined. These companies can be consolidated for financial reporting purposes. The consolidation facilities provide options for updating directly or indirectly from other companies and will even allow date to be consolidated from other accounts software.

de Facto S5 allows up to 56 periods to be defined. Any number of periods may be kept open, default periods can be defined per module, and the ability to select non-default periods can be enabled / disabled per user.

Period ends are no longer a time consuming chore. They now become simply a matter of selecting of which periods are to be closed, and which open. Year-ends likewise become a quick and simple procedure. Neither period nor year ends have any compulsory printing, (as you are compelled to do in many accounting systems), as all key de Facto S5 reports can be reproduced retrospectively.

Any number of currencies can be used, with individual customer or supplier accounts allowing local and specified currency postings. Nominal accounts will allow local, specified or mixed currency postings.

The system automatically calculates profit and loss on exchange. In addition to the normal calculation on payment of invoices, purchase order processing allows foreign exchange calculations to be made at the time of confirming receipt of product, and also on the subsequent posting of invoices for the product.

Exchange rates are able to be retrieved from module based tables, or alternatively they can be specified on a contract basis, or handled per transaction.

The Nominal Ledger allows easy revaluation journals to be posted. All reports have options to show local, actual or both currencies. An exchange rate history log is also maintained automatically.

All transaction types when posted are immediately updated to their respective ledgers, including the nominal ledger. Integrated automatic postings for such items as stock, cost of sales, work in progress and accrual accounting from logistics, production and costing modules, means that all management reporting is always up to the minute.

Batch and individual posting options are available in all de Facto S5 ledgers. Batches offer options such as control totals, pre-posting reports, and batch-based document printing, as well as posting.

Transaction batches also offer facilities for the importing of transaction data from external sources. Data is imported from text files, for which a public file format is published. Special import options are available for the importing of opening balance transactions when the system is first set up.

de Facto S5 offers standard facilities for defining multiple levels of analysis codes on all types of accounts and transactions, at both the header and the detail levels. These codes can have user definable titles and choice lists. Many standard reports can then use these analysis codes to select and sort data.

de Facto provides facilities for handling multiple VAT registrations for companies who are VAT registered in multiple countries. Comprehensive reporting is available for VAT 100, EEC Sales List 101, and Intrastat reporting. VAT transaction handling is included in all S5 modules, including the nominal ledger and banking modules. Facilities include the handling of VAT Triangulation and independent accounting by VAT rate, if required.