Enterprise Financial Management (EFM)
Automate and streamline finance with UTIL360’s EFM– from reconciliation and consolidation to compliance and reporting. UTIL360’s accounting software helps finance leaders design, transform and streamline their processes and operations.
It seamlessly couples core finance and accounting functions with strong compliance management, which improves business performance and increases financial close efficiency while reducing back-office costs.
General Ledger
EFM transforms General Ledger from a static, one-size-fits-all into a dynamic asset that enables Utility to tailor General Ledger to meet its unique business needs and changing conditions. EFM's General Ledger gives finance professionals flexibility and visibility, richer reporting functionality, enhanced audit trails, and new support for multinational financial management.
How can General Ledger benefit your Business?
- EFM's dynamic General Ledger eliminates the need for manual journal entries by letting users add custom GL impact lines to transactions.
- Finance teams can define unlimited custom General Ledger segments.
- EFM's Multi-Book accounting capabilities eliminate data entry replication and reduce the need for error-prone manual adjustments to the Utility’s accounting and reporting.
- View account lists and transaction details using a web browser.
- Create watch lists to monitor account balances.
- Interfaced subsystems create journal entries.
- Simplified bank reconciliation.
- Account inquiry with the ability to drill into transaction details.
- Track and report activity costs.
- Complete budget tools for preparation and reporting.
- Utilize grant reporting capabilities
Accounts Receivable
It allows tracking, maintaining, and managing all of the accounts receivable billings. Use detailed invoices or combined statements to assist the collection and information tracking process. This flexible solution provides the option to enter invoices manually or set up recurring invoices, which simplifies the billing process.
How can Accounts Receivable benefit your Business?
- Generate recurring invoices for easy subscription management and send invoices by email and offer even more payment options.
- Automatically post order transactions to general and AR.
- Provide customers with self-service access to real-time information relating to purchase orders, inventory, and payment information.
- Get into the insights —configurable dashboards, reports, and KPIs provide a real-time view into customer aging, invoice analyses, recurring invoices, deferred revenue, and exception reports to flag account anomalies.
- Generate user-defined invoices, statements, letters, and delinquent notices.
- Easily access customer information through the inquiry and reporting tools.
- Flexible billing rate calculations by quantity or flat amounts.
- Set up recurring invoices to save time and eliminate repetitive entries.
Accounts Payable
UTIL360's Accounts Payable solution automates the processing and payment of invoices. With this powerful tool, Utility can track vendors, issue checks, and record invoices. Simplify the payment process by paying vendors through ACH transactions and creating invoices from purchases made with credit cards.
How can Accounts Payable benefit your Business?
- Simplify and automate exception processing when invoices do not match purchase orders or receipts.
- Improve payment controls, no bill is lost, forgotten, or paid twice and no fraudulent invoices are paid with real-time visibility throughout the A/P process.
- Retrieve bills, item receipts, and vendor contracts that are attached to each vendor and/or individual AP transaction and improve reconciliation, streamline accrual processes and produce more accurate financial statements.
- Track invoices and checks for each vendor.
- Set budget warning for invoice entry to indicate when an account’s budget has been exceeded.
- Set default descriptions and GL account numbers for each vendor to speed up the invoice entry process.
- Utilize cash, modified accrual, or full accrual accounting.
- Set multiple, user-defined approval limits for the invoice approval process.
- Create a customized check and voucher forms with our built-in forms designer.
Tax Management
The EFM tax management solution streamlines the tax compliance process, saving time, and reducing costs and errors.
How can Tax Management benefit your Business?
- Cross-border sales and Intrastate reporting across all countries, including online capabilities.
- Handle local taxes across subsidiaries that allow for multiple tax schedules for everything from GST to VAT, to consumption tax or general sales tax.
- The right rate is automatically applied to every transaction every time.
- Offers API enabling select third-party tax solutions to easily integrate.
Fixed Assets Management
EFM Fixed Asset Management enables to maintenance and control of the complete lifecycle across depreciating or non-depreciating assets from creation to depreciation, revaluation, and disposal. It supports detailed asset management, including maintenance schedules and insurance, while providing tight accounting integration so that the fixed asset information is always accurate.
How can Fixed Assets benefit your Business?
- Manage the complete asset lifecycle.
- Easily report on all fixed assets.
- Track depreciating or non-depreciating company assets.
- Completely integrate asset management with accounting and eliminate manual effort and multiple spreadsheets.
- Leverage support for all standard depreciation methods and create and customize unlimited depreciation methods as needed.
- Depreciation and asset retirements are directly posted to UTIL360 accounts which allows to comprehensively report across assets, valuation, and depreciation.
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