Aico Journals automates the processing of your general ledger journals. Entering manual journals is easy and fast. Journals are validated during creation and their data is checked against the data in your ERP system. You can focus on more important tasks. Accruals and recurring journals can be easily managed, and using Aico Automation Manager, it’s even possible to automatically create monthly journals which need to be calculated from your ERP data. Your managers and end users can easily monitor the status of journals throughout the workflow in real time using dashboards.
Does your company still do manual journals? You’re not alone. Manual work is boring, arduous, time-consuming and prone to errors. With Aico Journals, entering manual journals is easy and fast and allows your employees to focus on more value-adding, non-routine tasks. Certain data can be filled in automatically and you can obtain value lists for accounts, cost centres, tax codes, and so on directly from your ERP system. This ensures that the data is validated in real time against your ERP rules, which minimises the likelihood of an invalid journal.
Configurable templates 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. You can also add comments and attachments to journals.
Dashboards provide you with efficient and easy-to-use filters and search options for finding and monitoring journals in the system. You can view the status of a journal and other workflow-related data and drill down into details of individual journals. Adjusting the filters and search criteria is quick and easy.
Accruals and manual reversals
You can easily define an automatic reversal date for a journal. The accrual journal will be automatically reversed on the date you specified. Standard journals can be manually reversed with just one click. This makes dealing with errors quick and easy.
Recurrence rules define the repeating pattern and trigger the generation of recurring journal entries. These entries can automate things like the allocation of expenses and costs to correct periods. You can do modifications on the fly, so that your changes will only affect one recurrence – or all the remaining recurrences in the series.
You can set up a multi-phase workflow for journals and control and monitor the progress and workflow of journals in real time. Journals can have up to three approvers. The number of approvers and whether an approval is done before or after posting can be dynamically varied based on the value and other content of the journal.