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.
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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
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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
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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
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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
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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
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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
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CUSTOMER PERSPECTIVE
"Our big concern going with another vendor
was once we do all the customizations, every upgrade becomes an
issue. With Softrax we didn't have to customize it much at all."
Jane Tisdale
Director of Finance
Framework Technologies
+ more
LIVE EXECUTIVE WEBCAST
Live on May 22nd: The New Standard Part II: IFRS & Revenue Recognition
+ register
ATTEND AN ONLINE DEMO
 Learn
more about Softrax' billing and revenue solutions by attending an
online demo.
+ register
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