General ledger reporting software is a core function of every accounting software system.
For centuries, accountants and bookkeepers used pen and ink to record business transactions. Until the last quarter-century, computers and software changed the G/L landscape, automating the meticulous and time-consuming job of balancing entries.
Fortunately, the team at Intuitive Business Concepts has been working hard to stay on top of updated reporting requirements and business use-cases. This helps ensure we are well-equipped to support a wide range of client needs, but some systems are more intelligent than others. Sage Intacct’s Intelligent G/L™ is an innovative G/L system with built-in artificial intelligence features to simplify the year-end reporting and closing process. Some Sage Intacct customers report improving productivity by 35%, reducing reconsolidation time from hours to minutes, and receiving payback in less than six months.
Artificial Intelligence Based Outlier Reporting
Finding anomalies in recorded transactions is often a manual, time-consuming process when you have to scan thousands of transactions to find minor errors. Sage Intacct’s Intelligent G/L™ continuously scans transactions, identifies outlier errors, and points them out for inspection and action.
Cloud-Based Computing Consolidates Multiple Locations
Trying to track the income and expenses for a single location is challenging, while managing multiple locations using standalone on-premise systems is nearly impossible. Cloud-based general ledger solutions make it easy for multi-location companies to record transactions in one centralized solution. In one case, a dental practice with several locations saved thousands through Sage Intacct’s cloud-based accounting software. According to Virginia Jones of Village Dental, “I’m able to consolidate statements however I want, and it’s very, very easy. I can even do departmental reporting that used to take ten days in just 10 minutes.”
Customizable General Ledger Reporting
Many businesses deal with complex compliance and reporting requirements that can take hours or days to prepare using outdated software and spreadsheets. Sage Intacct provides customizable general ledger reporting features to deliver valuable data on an ongoing basis. The system is easy enough for internal staff to update and maintain, saving businesses thousands of dollars a year in accounting or consulting fees. Our Intuitive Business Concepts team is able to build intelligent dashboards that allow senior managers to view the data they need to make strategic business decisions. Different types of data can be consolidated on one screen, and executives can click through high-level graphics to dig deeper into the underlying data. Instant insights for powering intelligent decision-making make Sage Intacct’s general ledger software a step above the competition.
Integration with Other Software Improves Profitability
In many businesses, each department uses different software to manage internal processes. Sales departments use customer relationship management (CRM) software. In contrast, manufacturing uses product lifecycle management (PLM), enterprise resource planning (ERP), and engineering uses project management software to keep track of the development process. Since many of these systems work in disconnected silos, accounting has a difficult time trying to roll up expenses, cost-of-goods sold, and revenue transactions.
Sage Intacct brings all disparate systems together through two-way integrations, allowing management to save money and reduce duplicate processes. This data can roll up into detailed general ledger reports for financial analysis and reporting.
General Ledger Reporting Software for Different Industries
Too often, business leaders need to adjust their business processes to fit their software rather than the other way around. At Intuitive Business Concepts, we work with each client to define the unique blend of services and software that will streamline your business operations and improve the overall customer experience. Our professionals have deep experience in software implementation and optimization in the financial sector, so you can be confident that the support you receive is second-to-none.
About IBC: At IBC, we have a deep understanding of the critical business needs and processes specific to associations, non-profits, and unions. We ‘get’ your culture, your goals, and what drives you, too. Focused exclusively on and dedicated to delivering the most effective AMS, LMS, and Cloud Financial Software for our clients, we’re well-versed in identifying and applying the integration techniques that will save you time and money. Since 2001, our cutting-edge products, unparalleled responsiveness, and award-winning services have helped organizations like yours increase their operational and financial performance by leveraging best practices and proven solutions. For more information about IBC, please visit the website at www.ibconcepts.com or call 443.603.0215.