ContractX General Ledger system outlines an organization’s various financial accounts and transactions, such as receivables, payables, fixed assets, and inventory. The Construction software enables contractors to view their financial reports in a more efficient manner. The system creates several ledgers based on your requirements, which can be utilised to meet statutory, corporate, regulatory, and management reporting requirements using the same financial data.
In order to make short and long-term business decisions, the solution also offers organisations with reliable, up-to-date information. It also includes the necessary controls and processes to ensure that accurate data is presented. Standard reports that management needs to gauge business growth include income statements, balance sheets, and statements of cash flow, and these reports can be prepared using the balance sheet created in the general ledger interface system.
The construction software also keeps track of a company’s financial operations and generates financial and management reports to assist stakeholders in making decisions. For the creation of financial reports like the balance sheet and profit and loss account, the general ledger interface system provides precise account balances. The construction software’s underlying financial data is provided in a timely, on-demand, and accurate manner so that stakeholders can make meaningful decisions.
The construction software allows development of thorough reports based on a variety of report formats and parameters, allowing for real-time decision making. The ability to view financial records by projects, cost centres, or other accounting divisions allows for a better knowledge of overall business performance. It allows for the tracking of essential financial information and the addition of numerous statutory and management reporting alternatives.
Key Functions and Features
Contract X, General Ledger Interface system module, provides an overall view of the financial well-being of your company. The solution also provides business insight for better decision making for your business. The solution helps save time and effort in keeping your general ledger up-to-date, and the general ledger interface system provides a record of financial transactions that help track a company’s cash flow.