| SilentPartner > advertising/media > overview > accounting |
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Delivering robust, fast, and secure financial management for today’s project-oriented firm. Multi-company, multi-office, multi-currency: governing job costs, billing, receivables, payables and general ledger. Drill-down capabilities of what is owed and what is due. Flexible invoicing options. Full financials with prior year comparisons, cash management and operating budgets. Also, complete VAT entry and reporting compliance.
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Accounts Payable SilentPartner® makes it easy to record vendor invoices, pay your bills and manage your overall financial commitments.
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- A single entry window for vendor invoice which allows distribution of amounts to A/P, G/L and job costing.
- Automatic reconciliation to the purchase order.
- Real time update of job(s) according to billing parameters specified by the job and in the currency specified for the job. Thus you never “final bill” without capturing all costs.
- Placing disputed vendor invoices on hold. They are still part of payables but remain unpaid unless the hold is lifted.
- Multiple Accounts Payable accounts: Production, Media, Overhead.
- Multi-currency processing. Foreign exchange calculations and accounts applied automatically during posting process. Automatic gains and losses posted in disbursement process.
- Accounts payable sub-ledgers for any period of the current year or first two periods of the following year. Also, accrued media sub-ledger for same fiscal periods.
- Aging, showing open invoices distributed to jobs and billed to clients with client payment status—i. e., has the client paid you.
- Selection of invoices for payment by all vendors, selected vendors, selected A/P accounts or due dates. Payment of your vendor invoices with computer-generated checks.
- Recording manual disbursements (handwritten checks).
- Bank account reconciliation.
- Printing or exporting vendor payments for 1099 processing.
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Accounts Receivable Spend less time in the AR management process and more on the income-producing aspects of your business. SilentPartner excels the Accounts Receivable process by allowing project mangers self-serve access to ready-to-bill jobs, client invoices, and their own client aging reports. In addition, we have simplified retainer agreements and allow companies to bill whenever and wherever they want during the course of a project. |
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SilentPartner’s billing options include:
- Pre-bill as a percentage of the estimate.
- Bill and recognize revenue as a percentage of the estimate.
- Bill based on actual charges (billing amounts can be manipulated at the charge level).
- Recognize revenue on charges as they are incurred (earned but unbilled revenue).
- With point and click, transfer charges to another job or billing category.
- Up to thirty invoice formats, ranging from paragraph presentation to line-by-line entry. Supplemental invoice formatting is also available, identifying each charge (what it is and where it came from).
- Pro-rating invoices (based on a preset percentage) across production and/or media.
- Selecting and grouping specific client invoices into a single monthly invoice across production or media jobs.
- Printing the A/R sub-ledger for any period of the current year or first two periods of the following year.
- Multiple Accounts Receivable accounts for postings and receipts—with multiple currencies and/or multi-companies.
- Adjusting sales tax or editing text on an invoice after it is generated.
- Voiding invoices from prior periods without any impact on the aging sub-ledger.
- Generating client statements by client, client/division or client/contact using two formats and user-defined aging recaps.
- Posting or reversing payments that allow client receipts and adjustments to be recorded in one easy step.
And, of course, analyze your receivables and client history using one of the more than twenty reports available in this section. Study not only your client history but also revenue generated by account executive and billing categories.
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General Ledger General ledger is the focal point of all the financial processing. Here you can view, on a macro basis, the financial effects of transactions posted throughout the system.
Significant features include...
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- Options for multiple companies and/or multi-currency transactions.
- A chart of accounts structure, linking to departments, offices, and/or locations. Summary accounts are provided so that financial statements can be presented in detail or summary views.
- User-defined account and journal entry type definitions.
- Financial statements for any prior period in the current year or prior year.
- No special month-end processing.
- The ability to close and re-open fiscal periods at any time.
- Journal entry to prior year for audit adjustments with roll-forward into the current year.
- Duplicating or reversing a journal entry at any time.
- Multiple year budgets with multiple revisions reporting.
- Complete audit trail of all financial transactions—who, when, why. Also if an adjustment was subsequently made, we also show who made the adjustment and when.
- Management reporting including income statements for a client, client/division, client/contact, account executive, type of job, team as well as two user-specified job parameters. These reports can be exported to Microsoft® Excel for further analysis.
- On a month-by-month basis, summarized recaps of account activity with optional budget comparisons.
And, of course, all SilentPartner reporting allows any range of fiscal period presentations and comparisons. |
