Finance & Accounting
Advantage provides everything you need to automate and expedite so that you can accomplish tasks in less time with more reliable results. Advantage handles multi-office processing effortlessly with automatic journal entries for things like work in process, media liability, revenue recognition and intercompany transactions.
Advantage includes full featured and easy-to-use applications in the following areas:
- Billing for both Production and Media
- Finance & Accounting / Management Reporting
- General Ledger
Advantage applications are designed to centralize related tasks and facilitate communication. They typically include multiple search options, related reports, exporting and importing (where appropriate), user-defined controls and rules, document integration, alerts and/or approvals, and simple data entry windows that minimize steps for the user.
All areas of Finance & Accounting include a large variety of reports and exports along with basic and advanced report writers that ensure you’ll get the information you need without manual processing!
Budgets & Forecasts
The client budget application is fully integrated with forecasts and project plans allowing you and your management team to create unlimited budget variations that can be used to help predict revenue and the resources required to generate that revenue.
- Create an initial budget based on client and agency expectations that sets the stage for the coming months. Use prior year information or actual history as an aid in creating the budget.
- Use the project forecasting tool to record expected revenue and staff usage OR use employee assignments and planned hours from project schedules to update the forecast within the master client budget.
- Actualize the budget and roll-forward the balances, clearly see what is expected for the coming months. Update the forecast monthly to see exactly where you stand.
- Use the employee utilization forecasts and project schedule assignments to analyze employee resource needs now and into the future.
Payables & Receivables
Advantage includes robust yet easy-to-use applications and a huge variety of reports that allows you to process payables and receivables in record time with great results.
- Real-time processing of all records including a full audit trail of all transactions.
- Importing of Accounts Payable and Income Only records.
- Purchase Order and Insertion Order matching and auto-load features.
- Alerts and controls that help you manage costs that exceed purchase orders and approved estimates.
- Access to related information directly from the payable record including payments, disbursements, and related GL entries.
- Automated invoice approvals with the ability to store an electronic copy of the paper invoice with every record.
- Check Writing with unique features that help you select exactly what to pay based on sequential liability and other criteria you determine.
- Ability to alert vendors via an automatic Email with payment information when checks are processed.
- Positive pay processing and the Payment Manager. Protect yourself by sending positive pay information to your bank electronically. Use the Payment Manager to send electronic payments and even earn cash back when using integrated services such as CSI Virtual MasterCard.
- The Void Checks feature tracks all activity and places payables back to their original state in a single step.
- Vendor Queries provide yet another way for you to view accounts payable details and status from a single location.
- Bank Reconciliation is completely automated and even integrated with transactions from your bank using the cleared check import.
- Cash receipts are posted quickly and easily against client invoices or on-account as needed. Modifications are done without removing or reversing the original check. Track both client and other cash receipts in a single application.
- Accounts Receivable Queries allow you to view payment history and open invoices from a single view with the ability to drill down to details and client payments.
- The Payment Manager allows you to automate vendor payments made using electronic funds such as virtual credit cards.
- Billing rates and other billing rules are completely flexible and user-definable using the Billing Rate Hierarchy. Setup rates by client, product, sales class, employee, title, function and other levels. Include rate ‘as of’ dates to control when rates take effect.
- Online Billing Approval allows you to review projects as an alternative to the traditional paper trail created with traditional billing. Account and Project Managers can play a larger role in the billing process by communicating with billers online as the first step in the billing process.
- Adjustments and Transfers are used to view Online Billing Approval details and make appropriate adjustments before billing is processed. These tools allow adjustments to billing while maintaining job costs and a complete audit trail of transactions.
- Easily transfer job time across companies and hard costs across offices.
- Managing sales tax is a breeze with our integration with Avalara’s AvaTax program.
- Advance Billing includes multiple income recognition and reconciliation options to completely automate that process and give complete control over the results. Job forecasts play a role in helping you determine percent complete and your monthly reconciliation amount.
- Media is advance billed by default but may be post billed as an alternative. Media accrual and reconciliation is automatic! You’ll be able to provide your clients with information about media purchases compared to actual with variances.
- Invoicing is as flexible as you can imagine with our standard and custom invoice options – provide custom formats without re-typing or manipulating them manually. View draft invoices first, then automatically Email them in PDF format. Optionally include invoice backup documents in a zip file with your Email of the invoice.
- Coop bill and split invoices across different clients, divisions and products automatically.
General Ledger & Financial Reports
- Customize your chart of accounts with up to four segments and thirty characters.
- Manage and report on multiple offices, departments and other profit or costs centers.
- Create unlimited budgets and compare to actual balances on reports and queries. Import budgets from Excel.
- Create and maintain budgets using client forecasted information and actual posted.
- Manage accounting periods by area and keep unlimited periods open while controlling current postings.
- Create standard, reversing, or recurring journal entries.
- Drill down to several levels of detail on system generated journal entries.
- Drill down to the source and view the actual details that created the entry.
- For client billing, drill down to the actual invoice generated.
- Use the Report Writer to create your own statements with hundreds of different options. Export results to Excel for further customization. Drill down to source entries directly from the online preview.
- Detailed reports and queries provide an abundance of information with details at your fingertips – Detail by Account, Detail by Transaction.
- Trial Balance Report and Queries – Drill down to source entries.
- Import standard journal entries. Export general ledger balances and integrate with parent company financials as an option.