Accounting is a crucial function of any business organization. You just cannot afford to go wrong with accounting, as it will have a negative impact on all your bottom-line results.
So, is there any holistic solution that can help small businesses in managing their accounting requirements? Well, the answer is quite simple – invest in accounting software that will automate repetitive functions and enhance operational efficiency.
Organizations across the world are leveraging the power of technology to simplify their accounting function. There are tons of tailor-made accounting management software available in the market for all kinds of organizations. Assess your business needs, go through client reviews, and get in touch with a credible service provider at the earliest.
If you are daunted and confused by all the available choices, don’t worry. Check out a detailed review of CheckMark MultiLedger that is an integrated, multi-user, and cross-platform accounting software for Mac and Windows. This review will help you understand how CheckMark MultiLedger can be beneficial for your business, reduce accounting workload, and save time.
Introduction To CheckMark MultiLedger Software
An all-in-one accounting solution, CheckMark MultiLedger, has a range of innovative features. It can help you manage general ledger entries, accounts receivables, accounts payable, inventory levels, and job tracking.
Designed specifically for small to medium-sized businesses, CheckMark MultiLedger uses in-built business intelligence to automate tasks seamlessly. It gives office teams access to real-time data, thereby improving visibility and collaboration.
CheckMark MultiLedger has everything that you can ask for in a primary accounting platform. It enables you to craft beautiful invoices, reconcile bank transactions, track the flow of inventory, generate financial statements/reports, and print forms 1099 with minimal effort.
If there is one aspect that differentiates CheckMark MultiLedger from its competitors, it’s the level of simplicity. The platform is easily navigable and highly user-friendly. It has numerous in-built customizable templates that enable users to make changes to individual accounts.
A well-defined dashboard that displays key performance indicators makes sure that CheckMark MultiLedger users can access any function they want through the click of a button. The main dashboard is divided into three categories,
- Set Up
- Transactions
- Reports
The division makes it easy to find and drill down into any accounting task. We have just skimmed the surface – check out the detailed list of CheckMark MultiLedger features to find out more about this diverse tool.
Salient Features of CheckMark MultiLedger
1. Multiple Users
Perhaps one of the most beneficial features of CheckMark MultiLedger is that it has built-in multi-user capabilities. This means that up to 10 users can easily access company documents and files over the same network, simultaneously, without any hassle.
All the essential company information is securely stored on a shared disk. It is easy for all users who have CheckMark MultiLedger installed on their system to view the data and access any particular file.
2. Cross-Platform Solution
CheckMark MultiLedger is a versatile and feature-rich accounting solution. Users do not need to worry about compatibility issues as it is cross-platform, and can work both on Mac and Windows effectively.
CheckMark MultiLedger makes it possible to host important files and data on a shared disk, and multiple users can access them from Mac and Windows at the same time. It helps in easier implementation, quick deployment, and uniformity.
3. Stringent Password Management
CheckMark MultiLedger emphasizes heavily on internal controls and security. Since the system has the ability to support multiple users, business owners or managers can restrict their access to specific parts such as accounts payable, accounts receivable, or entering deposits.
The Master administrator has access to all the screens and can restrict or allow access to other team members. This helps in data privacy and ensures that there is no misuse of sensitive financial information. CheckMark MultiLedger also allows users to set up reminders for back up and reminds them to do so, when closing a company.
4. Set Lock Periods
This useful feature of CheckMark MultiLedger allows users to lock prior time periods so that they inadvertently do not make financial entries in the wrong month or year. It is possible to keep this feature password-protected, hence only the system administrator will be able to set lock months or years.
CheckMark MultiLedger gives users the option to choose a Month End or a Year-End to set the lock period. This feature is great for boosting accuracy in statements as it ensures that there can be no more transactions entered in the system before the specific date selected by the user.
5. Integrated Accounting Platform
One of the best aspects of CheckMark MultiLedger is its integrated functionality. The system has specific modules for all vital operations, such as accounts payable, accounts receivables, and inventory. This means that users do not need to use separate modules for these functions, and the data remains up-to-date in one unified accounting solution.
Any changes that are made by users in accounts payables, accounts receivables or inventory reflect in General Ledger, and it gets automatically updated. This saves time and reduces the repetition of entries in different portals.
6. Profit Centers
This feature of CheckMark MultiLedger is immensely useful as it empowers business owners to make strategic decisions by analyzing profitability reports. The Profit Center feature can be used to monitor expenses and incomes for up to 99 departments, locations, or divisions.
Users can easily assign to each account in the chart of accounts that they want to monitor, along with a clear header account for each group of accounts. The profit centers will then reflect in the Income Statement, and users can also view them in reports that depict consolidated data on all the company profit centers.
7. Jobs
CheckMark MultiLedger enables users to set up jobs and assign income and expenses to specific jobs, such as a construction firm that builds homes. Users can set up expected incomes and expenses for any job, and can also carry forward incomes or expenses from previous periods.
If the job remains active at the end of the year, the prior accounting data is carried forward. Once the job is completed, users can mark it in the system, and it will be automatically closed at the end of the year. Users can gain better visibility of jobs by viewing a summary or detailed report on jobs by month or a range of months.
8. Quotes
Users can easily create and customize professional quotations or estimates by using CheckMark MultiLedger. These quotations do not affect General Ledger until the user converts them to an invoice, thus maintaining accuracy. Users can make changes and modify the quote anytime before it is converted.
CheckMark MultiLedger enables users to create quotations in the form of PDF files that can be emailed or printed in an instant.
9. Purchase Orders
CheckMark MultiLedger simplifies the purchase process by allowing users to create, manage, and send purchase orders through email. Users can enter purchase orders in the system, and it does not affect the General Ledger until the purchase order is converted to an Item purchase.
The purchase order functionality is highly beneficial and can automate the procurement cycle for firms. It automatically syncs data and connects with accounts payable, cash flows, and inventory so that users do not enter the same data multiple times.
10. Bank Reconciliation
Another highly useful feature of CheckMark MultiLedger is easy bank reconciliation for multiple accounts. It ensures that every transaction recorded to a cash account is reflected in the final bank reconciliation statement. Users need to enter the ending bank statement balance for the month and click off all transactions that are cleared by the bank for the automatic reconciliation of statements.
MultiLedger determines any differences between the cash balances in the balance sheet and corresponding bank statements. It automatically resolves any financial discrepancies and notifies users about fraudulent bank transactions.
The Final Verdict
CheckMark MultiLedger is one of the most potent accounting solutions available in the market. It can handle anything, right from the most basic accounting tasks to complex expert functions. The best part – its easy-to-use and affordable enough for all kinds of business organizations!
If you are on the lookout for a comprehensive accounting software, do not think twice and try out CheckMark MultiLedger. It comes power-packed with a range of innovative features and has a navigable visual dashboard for quick access to critical business functions.
MultiLedger can help business owners monitor cash flows, manage jobs, streamline inventory, and handle accounts payable/receivables. It also empowers managers to deliver live reports with up-to-the-minute financial statements or records.
Cloud-based backup, a responsive support team, and hassle-free installation are other aspects that make CheckMark MultiLedger a sure shot winner! Do not hesitate to find out more about this holistic accounting platform. It is an asset that will enhance all vital bottom-line results and performance parameters for your organization.
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