3rdwave Accounting and Finance
Overview
3rdwave Accounting and Finance supports
companies and divisions of large organizations that import,
export, trade, manage logistics, and distribute internationally
and locally.
A comprehensive and fully-integrated accounting
application streamlines and automates all the accounting tasks
associated with international trade, logistics and distribution.
3rdwave does this as well as providing complete accounting process controls.
Transactions involved with purchase and
sales order processing, invoicing, letters of credit management,
foreign currency management, purchase and sales terms, customer
and vendor credit, costing, etc., are posted to accounting
instantaneously. Data flows to the accounting modules automatically
as details regarding purchases, sales, quotes, budgets, costs,
etc., are entered in the various areas in the system.
3rdwave's Universal Accounting Features
- Multi-user, multi-department,
multi-company logic
- Multi-currency posting, with
single or multi-currency G/L
- On-line, real time posting
- On-line access to ad hoc inquiries
and reports
- Comprehensive user-defined
report generation in each module
- Interface capabilities with
other departmental or corporate systems
- Full password and database
access security
- Audit control files and hard
copy outputs
- Unlimited years for history
files, including ledger detail, general journal and budget
information
- User-defined executive and
accounting dashboards
Accounts Receivable Features
- Automatic invoices from Order
Processing or manual processing
- Commissions, cash receipts,
applies open credit
- Payment and discount term
verification
- Aging by vendors, transaction,
credit position
- Pre-payment, partial payments,
multiple adjustments
- Foreign currency posting
- Dispute processing
Accounts Payable Features
- Supports cash and accural
accounting
- Debit and Credit adjustments,
manual and partial payments
- Produces cash requirement
and aged payables reports
- Integrated with foreign currency
module
- Full integration with cost
cards, job costing and cost accruals
- Automated distribution to
G/L sub-accounts
General Ledger Features
- User-defined account codes
- Unlimited chart of accounts
- User-defined G/L expense allocation
codes
- Accounting periods are user-defined
and controlled
- Posting to and report on any
past or future year period
- One time set-up for recurring
entries
- Recurring and reversing journal
entries with complete transaction reconstruction
- General ledger inquiries provide
access to detailed transaction data
- User-defined financial statements,
as well as departmental and consolidated reports
- Actual vs. budget cost reporting
- Comprehensive international
currency control
- Multi-tier taxation capabilities:
Federal, State, Provincial, VAT, etc.
3rdwave Accounting is Integrated with:
3rdwave Accounting and Finance - Benefits
- Enhanced productivity
- Posting between the sub-ledgers and ledger take place
in real time. Reconciliations are extremely accurate and
simplified thus increasing productivity.
- Increased control
- Complete integration of the accounting modules with all
other 3rdwave modules results in real time processing of
transactions. All transactions are reviewable and adjustable
through full system auditing and relating to off-book transactions
are eliminated.
- Access to time sensitive
information - All accounting information is posted
and updated in real time between the sub-ledgers and ledger.
- More accurate information
- Elimination of redundant data entry reduces errors substantially,
reducing need for unexpected end of period adjustments due
to 3rdwave's complete, self-monitoring processes.
- Financial analysis
- Analyzes payment behaviors of customers, evaluates credit
risk of new contracts, reveals net profitability of customers,
suppliers, products and product categories. Enhances cash
flow management and bank relationships.
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