Softrax Automated Financial Systems | Accounting Information Management Software

Softrax contains all the core components of an enterprise financials system. Full General Ledger, Accounts Payable, Accounts Receivable, Purchasing and Reporting capabilities are coupled with broad multi-company and multi-currency support. Most important, functionality to meet stringent SEC and FASB guidelines on revenue, and to enhance your Sarbanes-Oxley compliance policies is built in to the system. By streamlining and greatly reducing the complexity of proper revenue management and reporting, Softrax gives you the confidence to grow, innovate, and drive to market as quickly as possible.

With Softrax your financials system can be part of an overall Revenue Management solution that automates deferred revenue, maintenance renewals, and complex billing in a single system that is tightly integrated with contract management, order entry, revenue accounting, reporting and forecasting functionality. As a result, you can rapidly implement new business models and easily apply the internal controls you need to manage the entire revenue cycle.

Solution highlights

General Ledger

Get total, per-item control over posting and timing
Generate ready-made Trial Balance and Journal Entry reports
Report on current budget, with support for unlimited revisions
Define reports with built-in Financial Report Writer, or utilize the FRx financial reporting system

Accounts Payable

Leverage automatic links to the purchasing module for rapid vendor status
Get three-way matching of purchase orders, receiving documents, and invoices
Create multiple vendor contacts and locations
Group vendors into multiple system– and user defined categories for analysis and payment
Set default expense accounts – automatically entered during voucher creation

Accounts Receivable

Easily access complete online invoice, customer, and payment history for each account
Create user-defined aging periods
Instantly access and maintain revenue schedules
Provide numerous distributions at the line item level
Associate revenue schedules with line item distributions
Recast revenue distributions based on new VSOE values
Recast revenue distributions based on groups of line items
Support for flexible "milestone" invoice generation and payment plans

Purchasing

Create and approve requisitions online
Create blanket and standard purchase orders
Transfer requisition line items to multiple purchase orders
Create purchase orders with line items from multiple requisitions

Support compliance with Sarbanes-Oxley, SEC and FASB

Provide a transactional audit trail for Sarbanes-Oxley 404 assertions
Create a foundation for robust internal controls over revenue processes
Support compliance with revenue recognition rules (SOP 97-2, 98-9, 81-1, VSOE, SAB 101/ SAB 104, and EITF 00-21)
Identify and optimize revenue processes
Improve the integrity of revenue data

Full North American and Global Tax Support

Automatic tax calculation based on current tax rates and laws
Ensure correct tax jurisdiction assignment
Manage full and partial customer exemptions
Compute taxes for more than 100 countries worldwide
Determine type of tax: input, acquisition output or export tax
Apply standard, increased, reduced or special rates for both commodities and services
Capture tax transactions in an audit file for reporting and filing purposes
Generate tax return automatically for thousands of jurisdictions using current forms

3 STRATEGIES FOR SUCCESS

How to succeed
in challenging economic times

LEARN MORE ABOUT SOFTRAX SOLUTIONS

CUSTOMER PERSPECTIVE

"When we were evaluating general ledger systems, the biggest criteria for us were the deferred revenue process and renewal billing. Softrax was really a hands down winner."

Financial Management

Enhance your financial performance with a solution that provides the best of both worlds–flexibility and control