Cornerstone Accounting Module Enhanced
Businesses rely on accounting to track everything that relates to finances, and there’s no difference when managing a real estate business.
Every real estate company in the Philippines needs a good accounting in order to measure the growth of the business in terms of revenue and profit.
Cornerstone, a real estate management system saw the need for a good accounting system that will enable real estate operators to track everything from receivables & expenses to financial reporting.
That led the team to enhance the software's accounting module.
Accounting Automation Made Easy
Earlier this month, Cornerstone made some big improvements to its Accounting module. Some of the improvements are as follow:
- Accounting Setup
- Sales Setup
- Other saleable items that contributes to the sales collection can now be included
- Set up taxes for sales and disbursements.
- Set up other fees which you constantly collect to your clients on top of saleable items.
- Sales Setup
- Accounting dashboard can now create an insight chart of the client's monthly collections and payout progress
- Shows the daily insights of your total collections
- Overview of billing statements owed from your clients
- Accounts Payables and Accounts Receivables Processing
- Keeps records of the sales invoice and collection receipts
- Automatically generates collection receipt once invoice has been settled
- Monitors sales invoice status for each client for under due, due and overdue payments
- Record Keeping
- Summarizes all your payables and collections and record it in accounting journals
- Automatically generate financial statements, accounting reports, sales and purchases reports
All of these improvement can be found under the Accounting module of Cornerstone. To maximize these features, users are encouraged to encode accurate information on the setup stage to avoid data discrepancies when generating reports.
Article source: http://www.forward.ph/blog/view/cornerstone-accounting-module-enhanced