NetLedger Delivers Accounting Package for Oracles SBS

 
 
By Renee Boucher Ferguson  |  Posted 2002-09-02 Print this article Print
 
 
 
 
 
 
 

The software company that powers Oracle Corp.'s Small Business Suite is enhancing the bundle with new accounting applications.

The software company that powers Oracle Corp.ís Small Business Suite is enhancing the bundle with new accounting applications.

NetLedger Inc. last week rolled out its Advanced Accounting package, hosted accounting software geared toward midsize companies with multinational locations, complex warehousing and complicated inventory management, according to officials in San Mateo, Calif.

The new service can be licensed as either a stand-alone package or as an add-on to a companyís existing Oracle SBS service, which brings together back-office and front-office application functionality as a hosted service.

Advanced Accounting leverages the current features in Oracle SBS and adds a number of new accounting features.

A Multi-Currency Transactions and Reporting tool enables businesses to work with foreign companies to record and track transactions in the currency of the foreign company.

An automated currency revaluation feature simplifies the process of closing a companyís books at the end of each reporting period by generating and adjusting journal entries to reflect exchange rate fluctuations.

A Multi-Location Inventory tool gives businesses the ability to categorize entities, items and transactions by location for easier management, tracking and reporting of inventory across multiple locations.

Customization tools and Custom Records allow users to customize the system to meet their needs.

Chris Reinhard, chief operating officer at MicroSupply Corp., is a NetLedger customer who thinks it might be a stretch for the developer of hosted solutions to provide software to multinational companies.

ìAn enterprise-level [solution] as a hosted service, thatís a real tough sell,î said Reinhard, in Phoenix. ìIt was a tough sell for us, and weíre a small business. Our only failing [with NetLedger] has been our local phone service ... and our Internet goes down at least once a week. When it goes, youíre done. I donít care if you have backup, you are done. If youíre a [big multinational company], that could cost thousands of dollars an hour.î

 
 
 
 
 
 
 
 
 
 
 

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