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Journals

Process your manual journal entries 50% faster with Journals automation.

 

Aico Journals automates the processing of your general ledger (GL) journals. Entering manual journals is easy and fast and allows your employees to focus on value-added tasks and on more complicated non-routine tasks. Certain data is filled in automatically, value lists are obtained directly from your ERP system, and the data is validated against your ERP rules. There are also other automation features, such as automatic creation of accrual journals and reversals. Your end-users can monitor the status of journals throughout the workflow using efficient and easy-to-use filters and search options.

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Roadmap to journal entry process excellence

 

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SAP S/4HANA journal entry management guide

 

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Oracle EBS journal entry management guide

 

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Journals product features

Automation and input sheets

Input sheets contain all the fields you need for doing journal entries. You can set header data to be mandatory or optional or have it filled in automatically. At the row level, you can select the account segments you need. You can handle tax calculations in Aico or use your ERP system.

Are your entries usually based on a monthly report or budget? Forget about entering figures manually – just add the report you use to a template and your receipts are automatically created based on the accounting rules you have specified. You can use templates together with our Closing module that automatically retrieves, updates, and stores the report for you.

What if you could forget about the manual entry of expense transfers, cash transactions, and other entries for different companies and dates? No problem. Aico’s built-in expense templates handle that as well. The system automatically allocates the entries for you.

RELATED WEBINAR

Watch automation feature demonstration

Dashboards

Aico Dashboards provides efficient and easy-to-use filters and search options for finding and monitoring journals in the system. After the workflow is complete, the journal is automatically archived. Search for all journals of all companies you have access to. You can adjust the search criteria and filters. In search results, you can see the status of a journal and other workflow-related data and drill down into details of individual journals.

DASHBOARDS DEMONSTRATION

Approval workflow

You can control and monitor the progress and workflow of journals in real-time. Audit trail gives you a log of actions performed in the workflow. After the workflow is complete, the journal is automatically archived.

APPROVAL DEMONSTRATION

Accruals and reversals

You can easily define an automatic reversal date for a journal already when creating an entry. The accrual you specified will be automatically reversed on the date you specified. With just one click, you can create a reversal journal based on the original journal. This makes dealing with errors very efficient. Just add the date when you want the entry to be made. The original journal and reversal journal are linked and the reversal can be easily viewed.

Recurring entries

Recurrence rules automate the allocation of expenses and profits to correct periods. There’s no need to connect allocations to specific months. They can be completely dynamic. You can make modifications on the fly, so that your changes will only affect one entry – or all the remaining entries. You can also specify whether the allocation will be reversed and, if so, when. The approver can approve each journal separately or approve the entire recurring entry in one go.

Overall summary

In the overview, you can see the journals of all the companies that you have been granted access to. The list shows extensive data on journals, their creators, approvers, status, and attachments. You can see at a glance if all the journals in that month have been processed, their approval status, and whether journals have been transferred to bookkeeping. Colour highlights draw your attention to the most important data.

Support documentation

You can add comments and attachments to the journal. It is also possible to add comments related to a specific action in the action log.

MORE ABOUT JOURNALS

Explore Aico Journals in a live demo environment

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