Cost Accounting System

About the project

The client, founded in 2006, is a leading force in the entertainment payroll industry. It manages payrolls, expenses, budgets, estimates, workers’ compensation insurance, year-end tax processing and other financial reporting for its clients, who are major media houses.

The challenge

The company needed a cloud-based, multi-tenant application to manage every financial operation, from budgeting to complex cost reporting, transparently and securely. Existing products were either outdated or missing features, and could not handle multi-million-dollar operations easily.

What ACS built

• Ledger – Customisable chart of accounts, journal entry tracking, adjustments and period close.
• Budget – Budgeting at project-cost level or for any defined segment.
• Payroll – Direct import of payroll files into a defined account structure.
• Accounts payable – Vendors, purchase orders, invoices, petty cash and check cycle.
• Production creation & cost report worksheet – Track each production’s costs from one place.
• Reports – More than 50 canned reports, with role-based permission management.

Results

• Transparent, secure operations and in-depth reporting.
• Optimised operations and effortless financial administration.
• Better planning, and more transparency between the company and its customers.
• Increased sales and additional revenue through client relationship management.