The finance capabilities of Sage X3 can handle transfers and reporting of information from one country to another, and between subsidiaries and their headquarters. Sage X3 Finance combines decentralized and international company financial management. The flexible accounting structure (multi-ledger and multi-chart of accounts) guarantees a real-time global vision while responding to local operational requirements such as legal, analytical, and reporting preferences.
Sage X3 associates a company to an “accounting model,” which can be used by several companies. Each model consists of up to ten sharable ledgers, each one associating one currency, one sharable chart of accounts, and up to ten user defined analytical sharable dimensions. The ability to parameterize and apply flexible rules allow the generation of multiple GL entries, helping to avoid restatements and double entries.
GL Accounts and Fiscal Calendars
Sage X3 General Ledger supports multiple companies and sites and allows an unlimited number of fiscal calendars to be defined with up to 24 open periods per calendar. A special period can be used for year-end postings. Account numbers can be expressed in fixed or variable lengths and can be identified by a short mnemonic. Accounts can also be defined as “collectives,” permitting customer and supplier sub-ledger information to be fully integrated within the GL.
Sage X3 supports manual, simulated, template, recurring, and reversing journal entries. Entries can be saved in a temporary state prior to final posting. Simulated journals can be active or inactive, allowing for different levels of “what-if” scenarios. Recurring journals can be fixed by period or variable with the ability to allocate an amount according to monthly weighted distributions. Accruals can be defined to reverse automatically on a predefined date. User-defined allocation structures and formulas can also be defined and processed automatically, with multi-pass capability.