The General Ledger forms the core of the financial management system. Accurate and timely information is critical in assisting your business to achieve its strategic goals - with a growing trend towards users reviewing key information daily rather than monthly.
Key Features
Internet Enabled
Greentree is enabled for Internet deployment, out of the box, using its thin client technology. This allows remote offices or traveling executives to obtain secure access to the complete functionality of Greentree via an Internet Service Provider.
Flexible Chart Structure
A flexible chart structure means you can define account codes that are relevant to your global organization and which meet your reporting needs. The structure of the chart of accounts is completely user-definable with up to 30 characters for your account code and up to 16 different segment or level breaks. Not all companies or business units within your organization need use the full structure; you can nominate which segments or levels are relevant to each company.
Account Short Codes
With a large number of accounts in your General Ledger, it can be difficult to remember each account number correctly. A short-code may be optionally defined against each account to assist in locating frequently used accounts. For example, each of your bank accounts may have a short-code of “BANK“ and this can be used to locate and select the correct bank account. Use of short-codes cannot only save time; it can also remove the need to always have a printed chart of accounts handy.
Multiple Budgets
Greentree supports an unlimited number of budgets, allowing multiple budget variations to be produced and tracked. Years within each budget can be closed to further changes when approved and/or finalized. All budgets may be created and edited in Microsoft Excel and automatically updated to/from Greentree as required.
Future and Prior Periods
Greentree allows transactions to be posted into both prior and future periods (depending on individual user security). This is particularly useful at year-end where adjustments need to be posted into previous periods or where fixed costs have been identified for future periods. Financial reports can be printed for any period, which means they can be easily reprinted after adjustments have been made.
On-line Enquiries
Transactions may be viewed for any range of periods (current, past or future), ensuring the information you need is always at hand. Information may be summarized on screen by transaction type or data entry batch within each period, providing a useful ”drill-down“ capability to the level of detail you need. As financial transactions are entered in any part of Greentree, they are reflected immediately in the General Ledger. This allows you to see exactly what revenue or costs are in the system at any time –even if they are not yet finalized.
Recurring Journals
Recurring journals and accruals can be defined and booked over whatever period is required. Accruals may be defined as auto-reversing which means once they have been posted they will be automatically reversed out in a future accounting period.
Journal Entry
Journals may be entered via the Greentree data entry screen - or created directly from within Microsoft
Excel. This means entries such as accruals may be calculated using the financial modeling tools within
Excel - then simply updated directly into Greentree.
Financial Reporting with Microsoft Excel
Greentree's financial reporting system provides direct connectivity with Microsoft Excel, providing a powerful range of extraction and formatting tools. This allows you to create almost any type of financial report you require, based on up-to-the-minute information.
Greentree's add-in for Excel - the modern way to present financial information
Accountants love Excel, and many use this tool every day to format, plan and manipulate information for a wide variety of business uses. Reports in Excel can be easily created from the ground up, with changes reflected immediately. Importantly, the reporting mechanism in Excel is entirely under the Accountant's control.
Historically, a big problem with using Excel as a financial reporting system has been obtaining timely and easy access to the financial information contained in your accounting system. Traditionally, this information has to be printed from the accounting system and manually re-entered, or perhaps stored as a text file and imported into Excel for further formatting and manipulation. Greentree offers a whole new way of accessing your financial information with a powerful set of tools that allow you to easily directly access, summarize and present your reports quickly and easily.
Flexible Reporting Structures
Greentree allows an unlimited number of multi-level ”Trees“ to be defined within the General Ledger, that are used to group and summarize financial information within Excel. This can be used to provide different ”views“ of your financial information that could include completely diverse areas such as business units, geographical locations, management structures or product lines.
Trees that have been defined in Greentree's General Ledger may be easily accessed from Excel for accurate and immediate analysis and reporting for any financial period. Information can also be extracted by account number or summarized by a particular segment of your account code, such as a cost center. These flexible reporting structures ensure that almost any financial reporting requirement can be easily fulfilled.
Your Personal Executive Information System
By taking advantage of the more advanced features of Excel, you can create your own Executive
Information System (EIS) that is tailored to the requirements of your organization and staff. Using tools such as Visual Basic and Excel's macro language, a complete graphical interface can be built to suit your requirements now - and in the future.
Secure Access to Greentree
Before accessing your Greentree financial information from within Excel, users must enter a valid Greentree login name and password. This ensures that only authorized staff are able to access your sensitive financial information at all times.
Posting Journals
Journals may be calculated and posted from Excel directly into Greentree real-time. These may be auto-reversing journals (i.e. accruals) that could even be calculated based on financial information obtained from Greentree automatically. Journals that are posted from Excel may be further edited from within Greentree, if required.
Entering Accounts Payable and Accounts Receivable Invoices
Transactions for your suppliers and customers may be entered and posted directly from Excel into
Greentree real-time. This is ideal if you have complex cost allocations or other information that needs to be tracked from within Excel, and saves operator time and the potential for human error. Customer and supplier information may also be updated from Excel, if required. This is of great value if you need to integrate with legacy systems that are not able to communicate with Greentree directly.
Sub Modules
Allocations
Allocations can be used to distribute revenue or expenses across business units, departments, cost centers – or even different companies. Allocations can be based on either a percentage of a transaction value or a fixed value amount. Once defined, transactions that are posted to an allocation account will be automatically reallocated over the specified accounts.
Inter-Company Accounting
Full multi-company capabilities are supported, with each company able to operate in a different base currency, accounting period and year-end if required. Inter-company clearing accounts are defined and are automatically posted to when entering inter-company transactions. This ensures each company's ledger is always in balance (even where each company operates in a different base currency).
Cash Management
One of the most vital pieces of knowledge required in any business is the status of the company's cash.
Yet finding out the amount of cash on hand from moment to moment is often the most difficult information to obtain, especially if the company is working in multiple markets on an international level. Greentree allows multiple bank accounts to be defined in both local and foreign currencies. Full integration with both Accounts Payable and Accounts Receivable provides an immediate update whenever cash payments or receipts are entered into the system. Bank statements may be entered in any sequence, ensuring reconciliation is quick and simple.
Reconciliation may also be automated with support for direct import of bank statement data from all leading Australian and New Zealand banks. Historical cash flow reporting is available on all bank accounts, detailing what was paid for during an accounting period regardless of when the accrual was made.
Foreign Currency
If the Foreign Currency module is used, General Ledger will allow foreign currency accounts to be defined. This is particularly useful if you operate international bank accounts or have assets that need to be tracked in a foreign value. These accounts are automatically translated using the spot rate or historical rate when being reported on with the financial report writer.
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