Reckoner Financials enables you to plan and control resources by keeping track of all transactions that may affect your financial indicators. It organises information flow across the organization and the necessary reporting to a structure designed by your organization through a system of Definitions.
Financials Master Definitions
Definitions are the fundamental information about your organization, its resources and work processes, which are mapped (installed) onto the ERP system at the time of ERP implementation. Some of these are classified as Master Definitions that represent core information, which can be modified only with the highest authorization.
These include Chart of Accounts Definitions, Currency Definition, Statement Definition, Party Definition and Fixed Assets Definition. For more information regarding Master Definitions, please contact your ERP Implementer or System Administrator.
Now, that your system has been mapped with all necessary definitions, it is easy to use Reckoner Financials.
Chart of Accounts
The Reckoner system comes with a Chart of Accounts with four default Groups of Assets, Liabilities, Income and Expenses, which can be expanded as per the needs of your organization to include customised Sub-Groups and Accounts. You can create unlimited levels of Chart of Accounts.
A Company may have multiple units. These units can share a common Chart of Accounts. Chart of Accounts is defined at the company level, but you can specify, which account is applicable to which unit.
