Gidday, This is the latest in a series of blogs I am writing on Abel’s features and what they can do for you.
Abel’s Enterprise Management helps both small and large organizations manage their many and varied organization structures and financial reporting requirements. With Abel, you can run multiple business entities in one database or in multiple databases, consolidating financial data to produce reports and financial results for different business entities, locations, countries or currencies. This same flexibility allows smaller businesses to grow easily with Abel, expanding their database from one location to multiple locations.
Abel uses “Reporting Branches” to group companies and departments for consolidated reporting purposes. You can define any number of reporting branches each containing the company / department groupings (trading branches) required. This enables you to slice and dice your data in many different ways giving you quality information to truly manage your organization.
Abel’s consolidation works across multiple databases so you can consolidate financial and operational information from your trading branches, no matter where they are geographically. In reports and enquiry screens, use your reporting branches to extract consolidated data for multiple trading branches. If you need to report in multiple currencies, simply specify a reporting branch for each currency.
Abel Enterprise has some pretty unique features. Each database can run independently while providing a consolidated financial view supported by automatic inter-database transfers. Each database location synchronizes its general ledger account balances with an equivalent account structure in a head office database, giving you an automatically-generated organization-wide, consolidated view of the financial accounts. Abel handles all this across different countries and currencies.
Users in head office or in branch databases can easily see a combined view of each branches’ financials comprising both local transactions and head office transactions for each branch. Abel’s security ensures that users can only see branch data that they are authorized to access. Users have automatic, transparent access to any Abel database that they have security credentials for. If they are viewing a summary figure in the head office database, they can double-click that summary figure to drill down into the actual data within the external database that it came from. Abel transparently logs them in to the remote database. Security in the remote location database is controlled as though the user had directly signed on.
Separate locations or business units often have many transactions in common. These include buying goods for each other, transferring stock, manufacturing goods, paying creditors, receiving debtor payments or paying for goods on behalf of each other. All these transactions require inter-company or inter-branch accounting processes. Abel provides inter-company documents (branch invoices) that are automatically produced in the host location and subsequently transferred to the remote location (branch transfers). Each document performs the correct accounting necessary to balance the inter-company accounts on consolidation. This includes providing for foreign currencies and different local taxation regimes. Abel will auto-generate the reciprocal document at the remote location.
So that was a very quick summary of how Abel Enterprise can help you manage and report across multiple business entities and / or locations.
Now here are a few tips and tricks for existing Abel customers. Did you know about these handy features?
- You can manage your suppliers centrally. Simply enter a supplier’s details into your head office database and then replicate them to the branch databases. Managing your suppliers centrally offers potential cost savings and benefits.
- Have you tried our newer inter company documents? Customer Dispatch to Supplier Delivery: A Customer Dispatch can create a Supplier Delivery in another database. Customer Invoice to Supplier Invoice: A customer invoice can create a supplier invoice in another database.
- You can co-ordinate your monthly close off across all the databases. This is especially useful for installations running external ledgers that allow both branches and head office to create transactions for the branch. Users initiate the period close from the Head Office database and Abel automatically closes the same period in the branch databases.
If you want to know more about Abel’s Enterprise Management please contact your Abel Consultant or an Abel Distributor.
Until next time.