Financial System

Eliminate discrepancies between General Ledger and Sub-Ledgers

 

Executive are often frustrated by discrepancies in financial reporting.  The 3D financial system addresses this issue by integrating sub-ledgers directly with the general ledger, ensuring that financial data remains consistent and up to date.

 

This approach eliminates data duplication and reduces the effort required to keep financial information in sync across systems.

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• Real-Time Updates: Integrated sub-ledgers and general ledgers ensure financial data is always current, giving executives and stakeholders access to accurate and consistent figures.

• Streamlined Reconciliation: With no separate sub-ledgers, reconciliation tasks are reduced, enhancing the efficiency of financial operations.

• Improved Data Integrity: Consistent and up-to-date information across all financial records prevents discrepancies and builds trust in financial reporting.

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Adaptive and Scalable Hierarchical Account Structures

 

The 3D Platform’s financial system employs a truly hierarchical structure for both General Ledger (GL) Account Codes and Cost Centers, offering flexibility and scalability beyond traditional systems. Instead of relying on rigid, text-based account codes with embedded data, the platform’s hierarchical structures allow organizations to tailor their financial setup to their unique needs, regardless of size or complexity.

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• Scalable for Any Organization Size: Whether for a small organization with a few levels or a large enterprise with complex, multi-tiered hierarchies, the system adapts to fit the need. The hierarchy can be shallow or deep as necessary.

• Real-Time Flexibility: Live queries at any level of the hierarchy enable users to analyze breakdowns by account or cost center, view detailed journal entries, or see summary reports by month. The system allows for seamless expansion or collapse of levels based on evolving needs.

• Seamless Adaptation to Change: The platform’s flexible structure makes it easy to add new levels into the Account and Cost Center structures without disrupting data integrity. Unlike traditional systems, where hierarchical data is embedded in account codes and tied to foreign keys, the 3D Platform decouples these layers, preventing the need for extensive updates to historical data when changes occur.

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Object based Financial Analysis

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The 3D financial system provides the ability to link financial data directly to enterprise entities, enabling comprehensive analysis beyond traditional Account Codes and Cost Centers. Financial transactions can be associated with assets, contracts, projects, land parcels, and other relevant entities.

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• Detailed Financial Reporting: Generate financial statements for specific entities, such as assets, project types, or acquisition methods, for deeper insights and targeted analysis.

• Dynamic Entity Linkages: The system ensures journal entries are automatically linked to relevant enterprise entities, reducing manual workarounds and streamlining processes.

• Scalable and Contextual Reporting: Directly connecting financial data to enterprise entities supports robust reporting capabilities that grow with the organization.

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Flexible for New Transaction Types

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The 3D financial module is built to accommodate new transaction types as organizations automate additional processes, such as invoicing for goods and services. The system’s flexibility eliminates the need for separate sub-ledgers, allowing for seamless integration of new transactions within the core financial system.

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• Efficient Process Automation: New transaction types can be easily incorporated, reducing the need for costly and redundant sub-ledgers.

• Streamlined Data Management: By supporting a wide range of transaction types natively, the system minimizes duplication and enhances overall efficiency.

• Customizable Transaction Workflows: Organizations can tailor transaction processes to align with unique requirements, ensuring the financial system adapts as business needs evolve.

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Conclusion

 

The 3D Platform’s financial module offers a robust and adaptable solution that meets the evolving needs of today’s enterprises. With integrated ledgers, flexible account structures, multi-dimensional analysis, and seamless support for new transaction types, the platform enhances operational efficiency, scalability, and financial clarity across all levels of the organization.