Plex Manufacturing Cloud | Accounting Overview

Accounting Overview
Plex Online includes a complete Accounting System. One of the most powerful features of the Accounting System is its seamless integration with other parts of Plex Online. Supplier Receipts create AP records. Customer shipments create AR records. Your accounting staff can focus their effort on analysis and follow-up rather than data entry.
Accounts Payable  
Data entry or system creation of supplier invoices in real-time. Active maintenance of outstanding payables and historical management. Payment processing including foreign currency translation.

Accounts Receivable  
Data entry or system creation of Customer invoices including consolidated billing in real-time. Active maintenance of outstanding receivables and historical management. Deposit processing and ability to handle over/under payments.

Bank Reconciliation  
Balancing of all accounting records against bank statement in real-time.

A module for setting up monthly and annual budgets for revenue and expense GL Accounts, and various reports for analyzing performance and variance to the budget.

Credit Checking  
A module for summarizing the credit status of a customer.

In depth maintenance of Customer accounts. Detailed history of invoices, payments, communications, statements and letters.

Cross Company Integration  
A set of features that allow one Plex Customer to seamlessly integrate with a different Plex Customer. This has been configured for container traceability and automatic release creation.

Employee Expense Tracking  
A module for entry and management of employee expenses and reimbursement, such as travel and educational expenses.

Expense Project Tracking  
This module is used by the Accounting and Purchasing departments to track expenses for a special project, such as a press rebuild, a building expansion, or a new R/D initiative. The Project is an auxiliary method for tracking and budgeting expenses, above and beyond the normal Chart of Accounts. Fully integrated with Accounting and Purchasing.

Financial Statements  
Standard reports including; Balance Sheet, Income Statement, Cash Flow, Aging Schedules, Cash Disbursements/Requirements and more all in real-time.

General Ledger  
Data entry or system creation of journal entries, including reversing entries in real-time.

Hours Tracking  
A module for a professional services organization to track internal labor hours/costs.

Inventory Valuation - Standard Cost  
Using the Part Cost Structure as its base, this module provides Inventory Valuation at Standard. The Valuation can be viewed as a detailed and/or summarized report, at the current moment in time or at any point in the past. This is ideal for those situations where the accounting department needs to know the inventory value at particular moments in time (at the beginning and end of the month, for example) in order to do its month end closing. This module also allows you to value inventory based on different Cost Models and to easily compare the results between the two.

Key Measurables  
A flexible system for setting up, tracking and communicating company performance against a set of management-defined Key Measurables. Ideal for strategic management.

Multi-company Financial Consolidation  
Financial reports, such as Income Statement and Balance Sheet, which combine results for two or more companies. Features include multiple levels of consolidation, intercompany eliminations, currency conversion, and multiple report formats.

Outside Collections Calling  
This app downloads a list of customers indicated as open for outside collections with at least one invoice 45-89 days late. An outside collections firm with access to Plex will download this list for calling.

The Receiving module is a simple-to-use interface for receiving goods into the company, which in turn creates a Receiving History Record, updates the Purchase Order, updates inventory, and creates an un-vouchered Accounts Payable entry (where applicable). Highly integrated with Supplier Module, Inventory, and Accounts Payable.

Module used by customers for approving items before adding them to Purchase Orders.

Strategic Planning  
This modules provides a structure for developing, documenting, and sharing a detailed Strategic Plan for the company.

A flexible, user-configurable module for designing and implementing Workflows. Workflow formalizes the flow of information/documents through a series of steps to fulfill a specific business process.