Compass Accounting

Summary

Compass Accounting offers robust and extremely easy-to-use General Accounting, Accounts Receivables, Accounts Payable, and Timesheet processing tools. As part of the Compass Operations Management System, Compass Accounting fully-integrates with other powerful Compass modules to provide an end-to-end Operations Management System.

Features

Customizable Chart of Accounts with standard classifications including Asset, Bank, Equity, Revenue, COGS, Expense, Liability, and more.

  • Millions of Accounts with custom numbering.
  • Real-Time Account Balances.
  • Define Beginning Account Balances.
  • User-definable Accounting Periods.
  • Allows multiple Open Accounting Periods.
  • Perform End-of-Period Closing.
  • Ability to re-open Closed Periods.
  • Perform End-of-Year Closing.
  • Print Financial Statements - including Income Statements and Balance Sheets - for any Period.
  • Batch or Real-Time Accounting.
  • Automatic, behind-the-scenes, double-entry accounting.
  • General Journal with the ability to make Journal entries.
  • View entire Debit and Credit side of Transactions.
  • Track Profit Centers by Product & Service Subcategories.
  • Define default General Ledger Accounts for Revenue, Inventory Assets, and COGS.
  • Create unlimited Sales Tax Jurisdictions.
  • Multi-user environment, with fully integrated Security.
  • View and Search all relevant information on-screen.
  • Variety of Pre-Defined Reports.

Advantages

Compass Accounting is modern. Unlike traditional accounting packages that simply focus on antiquated, batch processing of manually entered information, Compass Accounting is a thoroughly modern, a real-time accounting system designed with operations in mind. The software offers the best of both works: rigid double-entry account controls with flexible real-time accounting. With traditional accounting systems, data is entered in cumbersome batches that must be manually organized before they’re processed. Users are forced to perform formal closes before up-to-date information is available for reporting. Day-end and month-end closes are necessary and irreversible.

Benefits

  • Up-to-the-minute performance reporting assists in more timely, more accurate decision making. Real-time accounting eliminates tedious batch processing and provides immediate reporting of current balances.
  • Part of the Compass Operations Management System. Save time and reduce errors by eliminating redundant data entry. Many entries, traditionally entered by bookkeepers, automatically flow from other Compass modules.
  • Feature-rich tools make processing easier. Staff can perform more sophisticated activities with less formal accounting training.
  • Proven state-of-the-art technologies like Client/Server and Web means that more reliable information is available faster and more often to more users.
  • Integrated Process Workflow means activities can be tracked and shared; the traditional paperwork can be eliminated.

Offerings

  • Compass Accounting
  • Compass Operations Management System Suite

Getting Started

Getting started with Essent is easy. Contact us today to begin the process. An Essent Operations Management Consultant will work with you, at no cost, to begin the process of developing a solution tailored to your organization’s exact needs and budget.

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