NetLedgers Advanced Accounting in Beta

 
 
By Renee Boucher Ferguson  |  Posted 2002-08-27 Print this article Print
 
 
 
 
 
 
 

Online accounting package is tailored for mid-sized companies with multinational locations, complex warehousing and complicated inventory management.

NetLedger Inc., the accounting software company that powers Oracles Small Business Suite, announced a new suite today. NetLedger Advanced Accounting is an online accounting package for mid-sized businesses looking for a more complex approach to accounting than a shrink-wrapped package provides. The Advanced Accounting software is geared toward 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 companys existing Oracle SBS, which brings together back-office and front-office application functionality as a hosted service.
Advanced Accounting leverages the current features in Oracles 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 period-end close process 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. Tools include enhanced form customization for transactions, entities and CRM (customer relationship management) records, in addition to custom fields with upgraded display options and the ability to embed custom code on forms to define specific validation and calculation behavior for custom fields, officials said. The custom record capabilities allow users to define their own data records with relationships between each other and existing records and transactions. A set of advanced shipping-and-receiving tools breaks out the order of fulfillment and receiving functions for greater control with order management and workflow. A Multi-Company Consolidation tool allows financial results to be rolled up for complicated multi-level business entity hierarchies, with full drill-down to the subsidiary companys transactional data. Additional features include Automatic Reversing Journal Entries and Return Authorization Forms and Processing. NetLedger Advanced Accounting is currently in beta and will be available in October. Pricing starts at $3600 per year. Oracle—and NetLedger—face stiff competition in the small and mid-sized business sector from software maker Microsoft Corp, with its line of Great Plains e-business software, and from up-and-coming small-and-midsized business player SAP AG. SAP is expected to announce its channel strategy to penetrate the fragmented and often difficult to reach SMB market at its Sapphire conference in Lisbon next week. Related Stories:
  • NetLedger Names New President
  • Microsoft Acquisition Bolsters Great Plains
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