Integrated Accounting (TMS)
An integrated accounting system is a type of software that combines major financial accounting functions into one application. Replacing third party systems or programs eliminates the need for separate books or entering duplicate records for ordering, costing and other management accounting purposes. Integrating these accounting features helps standardize procedures for recording transactions and disseminating financial information and interconnects the reporting activities of companies’ different functional areas such as offices and stock facilities.
Our NOVA Integrated TMS (Transportation Management System) accounting system furnish information regarding the cost of each product, job or operation as well as comprehensive information about the profit or loss of an entire organization. These systems help management achieve and maintain control over operations by enabling companies to determine marginal costs, variances and abnormal losses or gains. Additionally, our integrated accounting systems can be run in a multi company environment. We can also handle additional processes such as inventory purchases, assembly and sales and sending information like statements and invoices to customers or vendors.
Core features of integrated accounting systems
Most integrated accounting systems offer core and non-core feature modules, all of which have the same user experience and are seamlessly interconnected. Core modules include:
- Accounts receivable & accounts payable
- Bank reconciliation.
- General ledgers.
- Purchase orders.
- Driver Settlements.
- Billing and Rating
Benefits of integrated accounting systems
A key benefit of our integrated accounting system is that information is entered once and shared with other modules, including the general ledger. One information database is used and accessed by all applications. Not having to re-enter data from one system to another reduces the likelihood of human error and eliminates the need to reconcile various ledgers and functions, which update automatically and in real-time.
This means the financials are always up-to-date and that sophisticated accounting operations are performed automatically just by processing the orders. Additionally, maintaining one set of accounts avoids duplication of efforts and provides decision-makers with accurate information in a timely manner.
Call us today to take a look at what’s under the hood!
We have been developing and supporting a fully integrated accounting system for more than 35 years! Call us today to find out more about what we can provide, or fill out a contact us form and someone will call you at your convenience.