Is your company looking for a better way to accurately predict your weekly and monthly forecast calls?
Are you worried that your accruals are not correct?
Do the dynamics of operator deals cause your head to spin?
Is quarter-end resulting in constant concern that accruals are way off?
If these fears around accruals sound familiar, you’re in the right place.
You need a better way to manage accruals and you need confidence in the accuracy of that data. Live Accrual Functionality is your ticket to a better night’s sleep.
Blacksmith’s trade promotion management software has accrual capabilities you can count on. Accruals account for the cost of trade programs by matching expense to revenue at the time the transaction occurs (rather than when payment is received).
The trade finance team, who manage trade programs, settlements and the month-end-close processes, are the primary users of the TPM software’s accrual feature.
The controller’s group benefits because they can view the exact amount accrued to each General Ledger and offset entry to the Balance Sheet account at any point during the month.
Marketing and sales are able to create brand and customer P&Ls during the month, enabling them to view the profitability of their business lines.
Accruals from Blacksmith’s TPM can be used in weekly and/or monthly forecast calls comparing Prior Year to Current Year or Prior Month to Current Month. And, the expense is reported in the Business Unit’s P&L by fiscal month, quarter and year. The accrual functionality provides expense visibility by program, customer and product.
The live accrual system generates exact accruals through a simple, easy-to-use feature that interfaces with your ERP system; it can be used for operator and distributor trade programs as well as brokerage.
Your whole organization will benefit from using the software’s Live Accrual since it reduces risk of manual process errors and postings while saving time.
8 reasons why this functionality keeps your accruals accurate and painless:
- Accuracy: calculates daily, weekly or monthly accrual by using rates from the trade programs along with invoices for the current month.
- Efficiency: replaces manual processes by using an automated, system generated accrual posting to ERP system which saves time and reduces the risk of error.
- Flexibility: allows accrual postings at various levels of the product hierarchy.
- Visibility: provides visibility into accrual throughout the month which allows companies to utilize this data to provide a more accurate forecast call.
- Net Revenue: accruals can be posted by customer and product, thereby enabling in-month visibility to customer net revenue.
- Functionality: accrues directly from the program for distributor trade and accommodates blended average operator trade accruals.
- Simplicity: allows for quick set up and short user learning curve through a system platform that is easy to navigate.
- Audit Trail: accrual posting files can be easily accessed and downloaded for analysis and reconciliation purposes.
Stop dreading your quarter-end accruals and effectively manage your trade pricing with Blacksmith TPM software’s Live Accrual functionality. Give your team the only tool with end-to-end visibility, automated invoices and payments, and simplified management of rebates and fees.