Evolution Branch Accounting White Paper (click to view in browser)
Organisations which have legal entities in multiple locations may encounter difficulties in optimising operational efficiencies and control within their various branches. Branch Accounting simplifies and streamlines business processes and transactions between all of these entities.
Branch Accounting enables bi-directional synchronisation and consolidation of data. Information can now be shared, consolidated and saved on both the centralised system at the head office as well as at branch level. For example, all financial, inventory and pricing data is always up-to-date and consistent across branches. Product prices can be changed at head office level and automatically pushed to all branches.
Branch Accounting includes the ability to transact at local level even if the ADSL lines or virtual private network become unavailable. In addition, any potential loss of data due to fire or theft will be kept to a minimum, as regular consolidation and replication will house data at head office over and above any off-site backup processes. Data for a particular branch can be restored and sent to the relevant branch within hours of the loss.
Branch Accounting assists in:
* Increasing productivity as a result of simplified transactions.
* Minimising potential errors with once-off data capturing.
* Providing full visibility into business activities with the complete audit trail, which details transaction histories for the head office per branch.
* Creating efficient, cost-effective transactions with affiliate and subsidiary companies.
Main features of Pastel Evolution Branch Accounting:
* Centralised and Decentralised Accounting
* Document numbers and transaction types per branch
* Ability to merge data to the head office database
* Reports consolidated by branch at the head office
* Global and local Customers and Suppliers
* File Transfer Protocol (FTP) as a communication protocol
The following diagram illustrates a basic branch accounting concept:
NOTE: You are limited to 1400 branches
The FTP site is used to download and upload data between the head office and branches using a Database Synchronisation Monitor utility.
The Head Office and it’s affiliated branches will create a Database Synchronisation Monitor which will administrate the export, download, upload and import functions of the data.
The following diagram illustrates how the Database Synchronisation Monitor works:
The following rules have to be adhere to when you want to implement branch accounting:
- Create separate databases for your head office and branches.
- Create separate common databases for you head office and branches.
- Create a secure FTP site and remember to assign read and write permissions to the branches.
- To setup the branch accounting infrastructure requires technical expertise and it is recommended to have an Evolution specialist implement this add-on module.
- The Multi-Warehousing add-on module is compulsory, as items are automatically created as warehouse items with the ability to assign different cost prices to items per warehouse.
- This add-on module caters for inter-branch transfers and loan account processing.
- The Conversion Tool allows you to convert existing databases into a branch accounting environment.