Makeen General Ledger.
Turn your general ledger into a dynamic business asset.
What is Makeen General Ledger?
Makeen general ledger (GL) automates core accounting processes and provides a flexible structure that adapts to the needs of any organization. Customize account types, transactions and reporting segments to meet unique business requirements. Reduce reliance on manual data entry, rules-based transaction matching and auto-posting of journal entries. Makeen gives finance and accounting professionals the tools they need to maintain accurate financial records, produce detailed reports and close the books on time.
By Makeen Trust Your Data
Say farewell to the headache of dealing with erroneous equations in spreadsheets. With all your financial data consolidated in one location, you'll have precise figures and seamless reconciliation.
Makeen transfer Static to Dynamic
Your general ledger should accommodate the specific organizational structure and operational needs of your business. makeen empowers you to customize how your GL functions through tailored workflows, transaction types, and additional features.
Manage Your Business On the Go
Stay in control of your business finances by having the ability to view your books at any time, on any internet-enabled device such as a phone, tablet, or computer.
Makeen General Ledger Features
The general ledger is the central repository of financial transactions within an accounting system. It serves as a dynamic, adaptable, and scalable tool that allows companies to maintain flexibility, gain valuable insights, and exercise control in order to meet the evolving demands of the business landscape.
Automation
Streamlining journal entry processing. By incorporating tailored General Ledger impact details into transactions within one or more accounting ledgers, you minimize the time and energy needed for reconciling accounts, closing processes, and conducting audits. Automated workflows for journal entry approvals validate conditions such as approval limits and threshold amounts before the entry is finalized. Makeen General Ledger also automates tasks like amortization, depreciation schedules, profit and loss allocations, and other regular calculations
Chart of Accounts
Farewell to intricate tracking codes, and welcome a streamlined chart of accounts framework that efficiently categorizes financial and statistical data, facilitating straightforward reporting.
Dimensions Analysis
Enable the creation of an extensive range of customizable GL segments, including profit center, fund, program, product line, and others, alongside the conventional subsidiary, class, department, and location segments. Enhance precision and efficiency by guaranteeing compliance with double-entry accounting principles and maintaining data balance across all possible segment combinations.
Budget Tracing
Acquire the capacity to monitor, in live updates, the flow of income and expenditures in relation to pre-established budgets established using Makeen Planning and Budgeting.
Banking Reconciliation
Comparing and matching the financial records of a company or individual with those of their bank to ensure they align and any discrepancies are identified and resolved. It involves verifying transactions, balances, and statements to ensure accurate financial reporting.
Multiple Books
Streamline data input duplication and minimize the necessity for error-prone manual modifications in your accounting and reporting procedures using Makeen’s multi-book accounting features. Simplify the management of books compliant with diverse accounting standards through pre-established mapping functions that connect primary and secondary charts of accounts, as well as book-specific functional currencies. The Makeen multi-book engine logs all activity specific to each book based on a singular business transaction from the general ledger, encompassing tasks like revenue recognition, expense amortization, depreciation, profit and loss allocations, and beyond.
Multiple Currencies
Simultaneously document transactions in both the native currency and the primary currency of your company. Automatically handle currency conversions utilizing current exchange rates, streamlining processes and reducing the likelihood of errors.
Reporting
Tailored reporting segments enable comprehensive analysis of both financial and operational data from various perspectives. They facilitate the automatic aggregation of financial information from subsidiaries and the generation of reports adhering to different accounting standards. Additionally, you can set up a schedule for reports to be created and sent via email on a daily, weekly, or monthly basis.
Automation
Streamlining journal entry processing. By incorporating tailored General Ledger impact details into transactions within one or more accounting ledgers, you minimize the time and energy needed for reconciling accounts, closing processes, and conducting audits. Automated workflows for journal entry approvals validate conditions such as approval limits and threshold amounts before the entry is finalized. Makeen General Ledger also automates tasks like amortization, depreciation schedules, profit and loss allocations, and other regular calculations
Chart of Accounts
Farewell to intricate tracking codes, and welcome a streamlined chart of accounts framework that efficiently categorizes financial and statistical data, facilitating straightforward reporting.
Dimensions Analysis
Enable the creation of an extensive range of customizable GL segments, including profit center, fund, program, product line, and others, alongside the conventional subsidiary, class, department, and location segments. Enhance precision and efficiency by guaranteeing compliance with double-entry accounting principles and maintaining data balance across all possible segment combinations.
Budget Tracing
Acquire the capacity to monitor, in live updates, the flow of income and expenditures in relation to pre-established budgets established using Makeen Planning and Budgeting.
Banking Reconciliation
Comparing and matching the financial records of a company or individual with those of their bank to ensure they align and any discrepancies are identified and resolved. It involves verifying transactions, balances, and statements to ensure accurate financial reporting.
Multiple Books
Streamline data input duplication and minimize the necessity for error-prone manual modifications in your accounting and reporting procedures using Makeen’s multi-book accounting features. Simplify the management of books compliant with diverse accounting standards through pre-established mapping functions that connect primary and secondary charts of accounts, as well as book-specific functional currencies. The Makeen multi-book engine logs all activity specific to each book based on a singular business transaction from the general ledger, encompassing tasks like revenue recognition, expense amortization, depreciation, profit and loss allocations, and beyond.
Multiple Currencies
Simultaneously document transactions in both the native currency and the primary currency of your company. Automatically handle currency conversions utilizing current exchange rates, streamlining processes and reducing the likelihood of errors.