Accounting in Multichannel Order Manager
In any successful business, tracking and reporting the daily financial numbers is a demanding task. With Multichannel Order Manager (M.O.M.) "keeping the books" for you, you'll always have quick access to the information you need. It adheres to accepted accounting principles to provide you with a powerful solution that meets your business requirments.
Accounts Receivable
Every time a customer order is entered, every time a payment is recorded from a customer, every time a refund or promotional credit is processed, M.O.M.'s Journal File records the transaction. And, when you need to report on your A/R activity, M.O.M. provides the most comprehensive list of reports to fill the bill, including A/R Aging, Sales Listings, and A/R Journal Activity. And, for business-to-business users, M.O.M. lets you set up specific terms for each customer. You can also apply finance charges at month end and print statements.
Accounts Payable
Every time you record delivery of a purchase order from a supplier, you automatically create a payables transaction in the M.O.M. A/P Journal. And, M.O.M. gives you the ability to age payables to the maximum allowable date for any particular supplier. Just "point & click" to select invoices for payment, and print A/P checks.
Inventory Valuation
For cost of goods calculations, M.O.M. keeps an up-to-date figure based on your choice of LIFO, FIFO, or a running average of all purchases for each stock item. And, with the Inventory Transaction and Cost Lot reports, you'll be able to track each and every change to your inventory quantities and value.
Sales Tax Reporting
M.O.M. gives you the most comprehensive sales tax reporting for your ecommerce or catalog fulfillment business. Set up and report tax rates at the country, state and municipal level. Establish as many five separate "tax classes" at any level to charge different tax rates or establish exempt status based on product type.
General Ledger Interface
If you're like most businesses today, you probably already use one of several of the most popular PC general ledger accounting packages suchg as Intuit’s Quickbooks small business accounting softwarwe. M.O.M. lets you keep your existing small business accounting software by providing an interface to QuickBooks and other popular software accounting packages available today. Just set up the account numbers in M.O.M.'s G/L maintenance screen and "post" the M.O.M. A/P and A/R Journals directly into QuickBooks software or your current accounting system. It's as easy as pressing the Enter key on your keyboard! M.O.M. also enables you to create a general ledger export that can be imported into any accounting solution.
How the Interface Works
M.O.M. keeps a running journal for each and every transaction that you create during every business day. These transactions fall into one of several different accounts/receivable (A/R) and accounts/payable (A/P) accounting categories. Each of these categories are represented in the M.O.M. G/L Maintenance screen.
The G/L Maintenance screen lets you assign the account number from your general ledger accounting software for each M.O.M. accounting category. Using either the Post A/R or Post A/P function, M.O.M. automatically "summarizes" all of the transactions detail in the accounts journal, and creates a special posting file with the corresponding summary figures for each account number in your accounting software. In the case of checks written for customer refunds or vendor payment, M.O.M. includes the detail on each transaction as well. The General Ledger export file allows you to export your accounting information to any solution you use. The posting file is formatted especially for Quickbooks or whatever accounting package you are using, and you simply import the file directly into your accounting software. It's that easy! And, best of all, your accountant doesn't have to worry about your using another general ledger package because M.O.M. lets you keep the one you already have!
