Transcript What’s New in ADERANT Expert Version 7.5

Understanding the Multi-Book
Capabilities of ADERANT Expert Global
Accounting
Kathleen Grant, Product Manager
Agenda
Why Multi-Book
Sample Use Case
Product requirements for Multi-Book
Terminology
Review Application Functionality
Questions
Why the Concept of Multi-Book?
Firms that have ‘entities’ with:
Different Fiscal Year Ends
Different Chart of Accounts
Different Accounting Recognition Policies
Why the Concept of Multi-Book?
Firms that want to maintain a single
Application Suite that provides for fully
integrated Subledger to General Ledger for
these entities:
Shared Clients, Matters, Timekeepers, Vendors
Shared Time and Billing Transactions
Shared Vendor and Payment Transactions
Single point of transaction entry recorded in Multiple Books
automatically
Why the Concept of Multi Book in Practice?
A
Firm with an office in a jurisdiction where
the Chart of Accounts is ‘prescribed’
A firm with an office in a jurisdiction where the Accounting
Policy for revenue recognition and expense recognition is
based on local rules (local GAAP, FASB, IASB, other local
authorities)
 A firm with a management company, or alternate
partnership structure that requires its own Accounting
policies, or year end

What Multi-Book G/L leverages
Multi-Book G/L extends the existing features
and functions within ADERANT Expert for
Subledger and General Ledger Reporting
The concept of the ‘Ledger’ has been extended
to allow for the creation of an unlimited number
of additional Books
Traditional ‘Ledger 1 and Ledger 2’
functionality remain as the ‘Firm Book
Sample Use Case for Multi-Book
Firm Book Accrual Basis
June Year End
Joint Venture
Book
Paris
Book (Chart)
China
Book
German Partnership Cash Basis Dec Year End
Work Done Inside China
London
Paris
Shanghai
German Cash
Partnership
Book
Belgium
Book
(Chart)
Brussels
Bankruptcy
Practice Group
Frankfurt
Munich
Chinese Client Work
Done in London
IP Work Done out of Munich
Berlin
Dusseldorf
Hamburg
Key features that Multi-Book Addresses
Ability to create multiple Books
Ability to designate a Book’s Fiscal Year End
Ability to create a Book Chart of Accounts and Map
Ability to secure a book to a group of people
Ability to produce Financial Statements for a Book or
books
Observance of Inter Company Accounting, Omni
Currency, and tax
Ability to create manual Year End Journal Entries
Ensure that existing set up and transactional
applications within ADERANT Expert integrate with the
new Multi Book Model
Terminology -Firm Book
Books 1 and 2 collectively are the ‘Firm Book’
– all Offices belong to Firm Book
Books 1 and 2 are system owned Books
Share common Chart of Accounts – Account Codes and
Descriptions are the same – system maintained
Can have a different GL Map (Cash, Accrual, Modified Accrual)
– existing functionality
Has the ‘Firm’ Year End
Has common GL Type Codes and GL Type Code Overrides
Continue to be maintained in General Ledger Parameters
Terminology -Data Sets
Existing functionality preserved – values 3
through 999
Will be associated to a Book Chart of Accounts
Can associate a ‘Budget’ or ‘Forecast’ Data
Set with a particular Book to use the Book
specific Chart of Accounts structure needed for
the Data Set
Maintained in the current GL Data Sets
Application
Establish Data Set Security
New Application for Multi-Book
Book Maintenance
Book Values between 1000 to 9999 – user defined code
Select the Year End
Attach Offices to the Book – Offices can belong to more than
one Book
Establish Book Level General Ledger Defaults for Office,
Department, Profit Centre and Employee
Establish Book Accounts for Retained Earnings, ‘Penny Clean
Up’ and Remeasure Gain/Loss
Establish Book Security
Book Maintenance
Main Application
Book Security
General Ledger Book Parameters
Chart of Accounts Firm Book
Inter-Company
Subledger Application
Subledger Application
Journal Entries
Inquiries and Reports
Inquiries and Reports
Availability of Multi-Book GL Enhancement
7.5 Release (75GA)
Existing Clients can still maintain a ‘dual ledger’ system
(defined as Book 1 and Book 2)
Summary
ADERANT Expert Multi Book leverages and
extends the core features and functionality of a
fully integrated Financial Management and
Reporting Package to include:
Jurisdiction specific accounting rules
Local requirements for Chart Of Account and financial reporting
structures
Alternate year ends
Flexible reporting
QUESTIONS?
[email protected]