If your back-office accounting, audit, and closing processes are mired in laborious and error-prone cross referencing of printed reports, spreadsheets, and manual calculations every month, then you need our CrossTie General Ledger Connector. CrossTieý, with chart of accounts mapping tool can be integrated with all major enterprise G/L systems including PeopleSoft, SAP, Intuit, SAGE, and others.
- CrossTieý receives information from the DataYardý Data Warehouse via the InterActý Data Acquisition module and creates journal entries to be posted to a corporate accounting system general ledger.
- Detailed journal entries are created based upon a set-up table that defines the debits and credits of each transaction. Uses a series of flexible driver tables that require only a one-time setup. A system generated reference number is linked to a complete general ledger entry to help with reconciliation.
- A suspense file is kept for unbalanced entries. Imbalances in the General Ledger are automatically picked up by CrossTieý and delivered to a Suspense Account. This account allows for tracking of discrepancies.
- Handles transactions that have either a traded or settled status.
- Handles reversals: Reversal Entries are generated for prior period changes and deletions. A prior period reversal automatically backs out the prior period entry by creating a reverse debit and credit followed by the correction.
- Transactions are summarized based on individual clientýs selection criteria. The General Ledger upload file is then generated and custom-scheduled for times entries, determined by periods, account, portfolio and accounting basis.
- Obtains data from a variety of financial management systems via our powerful and flexible data warehouse solution ý DataYardý and InterActý our Data Acquisition module.
- Integrated with leading investment reporting, asset management, trust accounting, and analytic services like those from Thompson Reuters PORTIA, SunGardýs AddVantage, BlackRock Solutions Aladdin and others.
- Draws out transactions, holdings, cash positions and other desired data elements that are then balanced, audited, and reviewed.
- Powerful general ledger chart of accounts mapping tool gives you the ability to store your own specific information in a unique set-up table.
- Processes transactions and correlates them to the established general ledger chart of accounts per the organizationsý defined financial management policies.
- Reduces and then eliminates all laborious, costly, and error-prone manual intervention and processing.
- Data elements are summarized and exported ready to be submitted to any general ledger platform. Journal entries can be posted to your corporate ledger daily, monthly or upon any other pre-defined frequency.
- An upload module is available for interfacing with enterprise General Ledgers such as PeopleSoft, SAP, Sage, and others. Uploads can be fitted to any format as dictated by the enterprise GL.
- Allows for GAAP, STAT, MGMT, Tax, or IFRS accounting bases and customized reporting periods.
- CrossTie executes Forward FX trades on a trade and settle date basis. Forward entries are created each month the FX trade is open. A reversal is automatically created at the end of month and replaced with the latest Foreign Exchange Rate or Unrealized Gain and Loss.
Corporate Level GL Upload
An upload module is available for interfacing with corporate level General Ledgers such as PeopleSoft and SAP. Uploads can be fitted to any format as dictated by the corporate GL.
FX Foward Trades
CrossTie executes Forward FX trades on a trade and settle date basis. Forward entries are created each month the FX trade is open. A reversal is automatically created at the end of month and replaced with the latest Foreign Exchange Rate or Unrealized Gain and Loss.
General Ledger Detail Entries
CrossTie creates detail debits and credits as dictated by tables set up by the user. Entries are assigned by a flexible chart of accounts.
General Ledger Detail Reporting
GL detail reporting is available from the period level to the account level.
CrossTie is ready fitted to directly attached to CAMRA and PORTIA. A complete data warehouse with accounting level periods are extracted to create monthly General Ledger entries. The entries are then summarized and uploaded.
Reversal Entries are generated for prior period changes and deletes. A prior period reversal automatically backs out the prior period entry by creating a reverse debit and credit followed by the correction.
Suspense Account Balancing
Imbalances in the General Ledger are automatically picked up by CrossTie and delivered to a Suspense Account. This account allows for tracking of discrepancies.