Landmark financials provide complete control over accounting and management reporting within a full multi-company structure. Each module may be tailored to meet specific industry requirements by selection from the extensive options available, such as foreign currency handling. The financial system is designed to provide accurate, up-to-date information which may be used to identify business trends and allow better decision-making. All information throughout Landmark is stored by date, enabling unlimited historical data to be maintained for analysis while also eliminating the need for end of month or end of year processing, ensuring control over an organisation’s data is maintained by the user. The modules are fully integrated to eliminate the need for double entry and to maximise efficiency and auditing of all transactions within a consistent and easy to use interface.
The General Ledger provides complete flexibility in the design of financial reports with user-definition of the chart of accounts and full multi-company consolidation features.Cash accounting is an option for mapping cash movements, and the facility for subsidiary company accounting enables full balance sheet reporting for multiple legal entities with an overall company structure by automatically
generating intercompany loan transactions. Parent company accounting enables all financial information to be held in both local and foreign currency with revaluation procedures for accurate reporting of overseas subsidiaries. Statistical accounts are available to report on averages and standard costing within the Report Writer provided with the General Ledger. Up to 99 sets of budgets may be maintained each year for monitoring trends and interfaces are available to commonly used spreadsheets for ease of creation and update.
Collating all cash activities within the financial system, the cashbook provides the status of each bank account at any point in time, allowing full control of funds. Bank reconciliation facilities are provided with automatic download and matching to bank files, saving time and ensuring accurate reporting of availability of funds. Processing receipts allows for direct crediting as well as normal deposits while payments may be entered as direct debits as well as cheque and other forms of payment such as credit card. Full facilities have been provided for the correction of errors and dishonoured transactions in the cashbook that perform complete roll back of payments or receipts while auditing all reversals and adjustments. Automatic interfaces to Accounts Receivable, Accounts Payable and the General Ledger ensure a single entry posts to all related systems simultaneously, allowing reconciliation between these ledgers as any time.
The Accounts Payable allows for multiple creditors ledgers within each company providing accurate forecasting of cash requirements and control over the allocation of available funds. Prompt payments, retention handling, credit claims monitoring and settlement discount reporting enable efficient payment of outstanding accounts. Sophisticated foreign currency handling enables an unlimited number of currencies to be maintained at transaction level with full accounting of both realised and unrealised gains and losses on exchange rate fluctuations. The interface to Purchasing provides the option to automatically prevent payment of invoices until all goods or services have been delivered. Standing invoices may be maintained for recurring expenses, automatically generating payments according to their frequency and period of validity, saving time and ensuring important expenses are paid as they fall due.
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The close monitoring of outstanding debts by the Accounts Receivable system improves the efficiency of debt collection and maximises cash flow. Facilities are provided for foreign currency transactions, retention handling, flexible payment terms, open item or balance forward accounting and settlement discount control. While invoices may be manually raised or automatically generated from standing invoices within the Accounts Receivable, the interface to Order Processing ensures complete monitoring of all outstanding debts regardless of source. Customer sales analysis, sales tax reporting, sales commission reporting, aging of outstanding debts and expected cash flow reporting are available to better manage debtors accounts.
Maintaining full details of each employee’s payment history provides obvious benefits regardless of the number of permanent, part-time or casual staff. By allowing unlimited breakdown of wages and salaries with the option for employee-specific rates, payruns may be automatically generated with manual override where required, saving time while ensuring accuracy for a variety of pay frequencies and payment methods including bank transfer and cheque. The Payroll system automatically generates accruals for long service, annual and sick leave and rostered days off using extensive award-based criteria, and superannuation reporting is provided for both employee and employer funded contributions. Income tax, payroll tax and workers compensation are automatically calculated and reported. A full dissection of wage and salary expenses is posted to the General Ledger and an interface to the Cost Ledger allows job costing information to be collected by timesheet and posted without additional effort.
Monitoring the value of assets from acquisition to retirement provides the control required for asset management. Multiple depreciation methods including straight line and diminishing value for a variety of frequencies provides flexibility and accuracy. Each asset is held by location, department, asset group and subgroup for reporting and interface of asset value movements through to the General Ledger. Assets may be revalued up or down, and transferred en masse or individually when necessary. Asset splitting is available where multiple items are held under a single asset number and only some are to be retired or transferred. Where foreign currency parent accounting is implemented, all asset transactions are automatically held in both currencies and may be reported in either currency.
