by Farkas
We are getting positive feedback from QAD EE users about our Journal Entry Data Loader, saying how using it makes managing the general ledger much easier and shortens their financial period end closing tasks.
We’ve recently added cross-company transaction support to make this tool more powerful and helpful.
If your business has divisions, subsidiaries, or other units that operate independently from each other but are part of a parent company, you know that you must handle the transactions between the entities carefully. Since the parent business cannot record a profit or loss by conducting business with itself, you cannot record these transactions as a profit or loss. Properly recorded inter-company journal entries ensure you are following accounting principles and that the business maintains accurate records for its intercompany financial activities.
Our Journal Entry for QAD EE Data Loader allows users to load multi-entity and cross-company journal entries using our easy-to-use Excel spreadsheet and post them to QAD as multiple entities. This tool can also create journal entry postings within the same entity.
With this update, Journal Entry for QAD EE Data Loader supports most of the functionality of the QAD EE Journal Entry process, including SAF codes and reverse transactions, which were also recently added.
SAF (supplementary analysis fields) are analysis codes that allow you to give additional descriptions to a general ledger transaction. Reversing journal entries made in an accounting period negate entries made in the immediately preceding period. Reverse entries ensure accrued revenue or expenses do not remain in the accounting system for another period.
For more information or to order a complimentary trial, click here.
Farkas is a QAD developer and consultant with more than 15 years of experience. He has been a part of the 32 Soft family since 2010, where he has helped customers with QAD customizations, employed new functions, interconnected QAD with 3rd party applications, and developed 32 Soft solutions. He has gained a wealth of experience with 32 Soft’s flagship product, Data Loaders.
