Accounting

Overview

UNIT4 CODA’s award-winning Financial Management software helps organizations streamline and automate their financial processes (from accounting and procurement to reporting and analysis) to achieve better compliance and corporate governance.

As the original single-ledger, global accounting solution, CODA Financials is a modern and multi-everything accounting system for even the most diverse or complex enterprise requirements.

No sub-systems, No sub-ledgers, No waiting, No reconciling

Unlike batch or multi-module ERP designs prevalent in most accounting systems today, CODA Financials broke new ground as the first single ledger or unified accounting system. General Ledger, Accounts Payable, Accounts Receivable etc. are all part of one system and one multidimensional financial model. This unique, single system design eliminates time lags, sub-ledgers, data fragmentation, reconciling and unnecessary integration between subsystems. In contrast to batch or waterfall styled ERP systems, it ensures that your business data is consistent, always in balance, and always up to date. Changes can be made efficiently in ONE area without: losing control, creating reporting problems or increasing the risk of non-compliance. This is because data is held within one financial model – in one accounting application – not in multiple sub-modules and sub-systems.

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Multidimensional – infinite ways to classify, measure and analyze your business

Despite the bevy of IT reporting tools available today, most finance departments still struggle to keep up with reporting demands, often relying on spreadsheet gyrations to save the day. But the problem isn’t necessarily the tools; it is the inflexibility and inadequacy of the information model in the underlying financial system.

CODA Financials provides exceptional ways to capture, store, and maintain financial data. In contrast to the typical “Code Block” approach found in most accounting systems, CODA Financials provides a multidimensional financial model, which is far superior to the typical chart of accounts structures found in the General Ledger modules of ERP systems. For example, the CODA chart of accounts offers unparalleled flexibility to measure profitability, accommodating different account coding schemes within the same company. This allows each line of business to measure profitability the way it needs to, yet provides a single reporting model or ledger that is always in balance. Unlike “Code Blocks” that are flexible once, CODA Financials’ multidimensional model structure expects diversity and can be updated on the fly.

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Multi-everything

The financial model includes dimensions for multiple currencies, account balances, budgets, forecasts, supplier activity, customer activity, and other business statistics. It is a multi-everything design (country, company, currency, tax, language), handling even the most complex corporate structures. CODA Financials may be implemented and run as a single version worldwide, delivering the control that you need to ensure consistency across your enterprise. But it also offers the capability and flexibility to satisfy a huge range of local requirements and approaches to accounting found around the world.

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Real-time visibility

A hallmark of CODA Financials is our world-famous, real-time drill down. Because of the single financial model, users can browse from high level balances down to original source documents without passing through nonsensical summary entries and without missing any transactions due to batch integrations, module updates or balance roll-up routines. For instance, cash balances instantly reflect activity as checks are cut in A/P and cash is received in A/R. With CODA Financials, you always know your cash position – up to the minute and down to the penny.

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Comprehensive reporting

Users can choose from a complete spectrum of inquiry, reporting and business intelligence tools: from in-built reporting and browsing functions, through extended multi-dimensional analysis solutions. Users can be given instant access to the appropriate data, wherever or whenever they need it and by the most effective means, whether that’s via a company portal or web browser, or even embedded as part of another key business application.

In short, the flexibility of the CODA financial model, combined with the real-time nature of the single-ledger system provides the deepest and most agile reporting system available on the market today.

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Faster closes

One of the most stressful and demanding times to work in an accounting department is during a period close. While there are many causes for the hectic nature of a close, a great financial system can reduce the stress and workload; an inferior system can add to the work, frustration and time away from loved ones.

CODA Financials users enjoy a number of capabilities that take the stress out of the period close including:

• A single financial model that is perpetually closed – always up to date
• No reconciling of accounting modules or subsystems – always in balance
• Automated and collaborative close processes that can be extended to close tasks occurring outside the accounting department, across companies and other operations
• Online period end portal that provides visibility of close tasks, dependencies, status, documentation, authorizations and steps to complete.

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Financial portal – controlled, personalized information and tools

More and more types of data and software tools are being made available to employees across organizations. If their purpose is to successfully improve effectiveness and efficiency, then content needs to be controlled, channeled and filtered to ensure it is actually useful and relevant. With CODA Financials, you can create a “finance portal” that delivers a sensible balance of central control and individual choice, to improve the way a user accesses and interacts with key business systems and information.

Thanks to CODA Financials’ web-browser design and the flexible configuration tools of its Administration Console you can give each user a single, familiar and controllable portal or “way in” to all of their permitted CODA products. The portal also enables users to decide what programs, functions and other information they can have constantly available on their desktop.

It allows each user to personalize the portal based on individual need. This can range from selecting and customizing the CODA product functions that they use, to choosing exactly which other types of content – such as: key performance indicators (KPIs), reporting functions, tools, web pages and other useful information – to keep at their fingertips. So, the portal for a CFO can display content quite different to that of a line manager or accounting clerk.

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Intuitive and efficient – do more with less!

The application’s intuitive browser-based interface is designed to make life straightforward and easy for users. Easily customized user interfaces mean that screens and entry forms can mirror your existing company systems– simplifying data entry, while ensuring consistency and familiarity for operators. And because all functions reside within a single financial model, users can be easily cross trained to work in A/P, A/R and general accounting. Capabilities such as browse, pay, matching, document entry etc. work the same across all the functions, enabling accounting teams to do more – even with fewer staff.

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Accounting functions – at a glance

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