Accounting Seed, the #1 accounting solution built on the Salesforce Platform, has officially announced the launch of its latest offering in Multi-book Accounting, which is designed to help businesses automate the tracking of cash and accrual transactions for achieving complete financial visibility on an organizational level. More on the same would reveal how the solution makes it possible for users to enter source documents once and then create, track, and report on transactions in both cash- and accrual-basis accounting, thus generating a more accurate view of the business in real-time. Markedly enough, with both accrual- and cash-based accounting tracked automatically in one system, Multi-book Accounting eliminates the need to record transactions in multiple places. Next up, we must get into the promise of enhanced visibility, a promise which translates to the fact that one can access financials from different perspectives and gain much deeper insights into them than what would have been possible otherwise. Such a mechanism, like you can guess, also treads a long distance to ensure informed decision-making and strategic planning at every touchpoint throughout an organization. Moving on to the solution’s expanded reporting flexibility, it basically brings forth an option to generate comprehensive reports tailored as per the specific needs of regulatory bodies, internal management, and investors. Not just that, in essence, this flexibility also comes from the way users can seamlessly switch between accrual and cash-based methods.
“The beauty of this offering is the way transactions are tracked; Accounting Seed has eliminated the need to make manual adjustments,” said Ryan Sieve, Chief Technology Officer of Accounting Seed. “With Multi-book Accounting, transactions are automatically tracked in both cash- and accrual-basis. It gives businesses a real-time view into revenue recognition at the product level and the ability to run consolidations across both cash and accrual books. With the power to track KPIs across the business, organizations can confidently report to satisfy both GAAP and cash financial requirements.”
Our final piece of highlight comes from Multi-book Accounting’s bid to improve upon the standard financial controls. This involves a rather straightforward manner in which one can reconcile differences between management and statutory reports, and at the same time, maintain a clear audit trail for financial oversight.
Founded in 2008, Accounting Seed is today the no.1 accounting solution on the block. The company has been able to achieve this feat, by and large, because of its knowhow in tracking financial data through the entire business lifecycle; from marketing, project implementation, product sales, back office accounting, to producing financial statements as per the customer’s preferred framework. Accounting Seed’s excellence in what it does can also be understood once you consider it has, as of today, more than 60k active users, making up an estimated $25 billion in managed revenue. Boasting well over 450 5-star reviews, the company is currently present in 30+ countries worldwide.
“We’re huge Accounting Seed fans, it’s a really cool platform. One of the things I love Accounting Seed for is the native accounting in Salesforce. It makes me never question or doubt the matching of our sales forecast and our revenue. I love being able to know the data that’s being shown to the salespeople is real and it’s accurate,” said Craig Dunlap, Founder & CEO, Delegate CX.
