Accounting

For many who work with accounting on a daily basis, there is nothing more important than the right framework, which allows them to handle routine tasks quickly and efficiently, as well as offering possibilities for more in-depth analysis when needed. The accounting part of the program includes those functions that are necessary to satisfy the needs of accounting staff - in a single solution.

Journal Entry

The journal entry has been designed with user-friendliness in mind, with a default chart of accounts as a starting point. However, it also offers every opportunity for creating your own user-defined variations. Journal templates and automated posting make the accounting process efficient, including automated accruals, VAT-posting and more.

You can also post directly into the customer or supplier ledger, if you wish. For users with program versions that include the Sales and Invoicing and Purchase modules, journal entry usually takes place upon transferring invoices and payments from these modules.

Tip! It is possible to edit invoices after they have been issued and journals after they have been posted. This functionality allows you to edit posted invoices and journals without needing to credit the item or redo work already done. Read more in Edit Posted Invoices and Journals.

Integration with related modules

Many businesses divide certain roles amongst several people so that one person may be responsible for sales and invoicing, another for purchasing and warehouse management and yet another person for projects and time sheet registration, for example. Many of these processes have in common that, with the necessary settings in place, the items contain enough information at the time of registration to create a journal entry in the nominal ledger. For most users the majority of journals are derived from these related modules and one of the main advantages with an integrated system is that journal entries happen automatically.

The system is delivered ready for this type of automated journal entry. This is regulated by a number of pre-defined settings, which decide that an invoice, for example, creates a journal in the financials for the default sales account. You only need to ensure that the products are set up with the right VAT codes. If you would like to allocate the sales to different accounts, e.g. allocate a different account in the financials for every product group, you can do so as well.

Financials

The financials are clearly laid out and offer 'drill-down' possibilities for single journals and analysis. It acts as your window to all registered accounting data. You have several opportunities to view figures based on period, journal type, department and project accounting, key figures and more. With the help of the Future cash flow functionality you get a preview of your future cash flow based on information that has already been registered.

Period and Year End

The system contains wizards for VAT-period, Period and Year End and you transfer the total for one year to the next so that you have the option to compare the current year with previous ones. Partially close accounts is used at times when you have already begun a new accounting year but before the previous year has been closed completely and the final opening balance has been transferred.

Project and departmental accounting

You can mark your transactions as belonging to a certain project and/or department. This allows you to keep complete accounting records for projects and departments.

Budget

From the Budget function, you are able to extract accounting figures from previous years to base your current budget on, or distribute the total per period with the help of a separate distribution key that you can set up yourself. The Budget module helps your business to establish its budgets in a user-friendly, easy way. It will also contribute in giving you the necessary overview you need in order to make the right business decisions based on your budgets, forecasts and expected cash position development.

Bank

With the help of the Bank reconciliation you can check that statements you receive from your bank match your in-house accounting. You can reconcile amounts against another and mark off all items you can locate on your bank statements.

The function helps you find entries within the nominal ledger and to tick them off. The system will also calculate and compare the Reconciled figure with the Opening balance from your bank statements once all items have reconciled.

You are also able to define your own bank file formats to be imported into the Journal Entry for further processing. This may be useful if you generate statements from your online bank, such as Excel files, for example, and want to import these files to avoid having to register all transactions manually.

Currency

You can create currency accounts in the most comprehensive versions of the Mamut program. The most commonly used currencies can be found in the currency register as a default to which you can of course add other currencies when needed.

Electronic documents

You can create electronic documents for your journals, e.g. you can scan in documents and then link them to a journal.

Note! With the additional product Mamut Enterprise Compello, in combination with third-party software, you can scan journals and import these as complete entries into the Nominal Ledger. Find out more in Scanning Documents.

Automatic Report Generation

The Mamut Enterprise Automatic Report Distributor is an additional product from Mamut that allows you to automatically send reports at fixed intervals. Instead of needing to extract and generate a report every time it is to be sent, you can now set your report criteria once and the program will then automatically create the reports. You choose whether reports are to be sent automatically or whether you want to approve them before sending them. Find out more in The Automatic Report Distributor.

Status/Analysis

With the help of Enterprise extension Mamut Enterprise Status/Analysis, you are able to select graphic presentations of everything from simple standard reports to complex key figure reports and sales numbers. Read more in Mamut Enterprise Business Intelligence.