Ostendo for Accountants

Please read this article if you are a business accountant, CA or CPA, financial controller, cost management accountant or bookkeeper. This information has been put together specifically for you by a chartered accountant and cost management accountant.

Ostendo has a comprehensive General Ledger Integration tool.

It allows an organisation to breakdown exactly where they are generating their profits from and where they might be losing money.

Examples include:

• The ability to break down an organisation into departments and track the operational sales and costs that contribute to that department.
• The ability to split cost of sales into categories such as materials, labour recovered and plant recovered. This enables a ‘Trade’ or ‘Time and Cost’ business to analyse exactly where they are making or losing money.
• Work In Progress integration by department.
• Retentions integration.
• Integration of manufacturing costs by department and allocation of any wastage or production write offs by department.
• The ability to track stock by department and allocate any write offs or price changes by department or product grouping, which enables an organization to concentrate on the most profitable stock lines.

Ostendo has powerful operational analysis that will backup your financial analysis.

Examples include:

• Time productivity analysis by employee and department.
• Work in progress analysis by project and department.
• Standard or Planned cost comparison with Actual Production costs.
• Stock valuation by period and by department.
• Comprehensive sales and direct cost reporting by item, product grouping or department.
• Manufacturing sales and direct cost reporting by individual production run, product grouping or by department.

Ostendo has comprehensive operational workflow to enable management to track business performance on a daily basis.

Examples include:

• Stock replenishment and forecast usage.
• Rolling stock takes.
• Reporting by individual project and ability to forecast actual profitability on an individual project.
• Instantly generate and track project variations.
• Ability to update all operational costings on a daily basis.

Ostendo has Audit logging and the ability to transfer financial transactions.

Examples include:

• User defined access enables Audit logging of Table Field changes, showing User, Date and Time.
• Ability to create General Ledger Codes to suit existing systems. This will facilitate the ease of Financial Transaction Journals.
• Link software is available for MYOB and QuickBooks, enabling automated transfer of Financial Journals.

Ostendo has many other features that are of assistance to Accountants.

Examples include:

• Ostendo meets the Tax requirements of many countries such as Australia, New Zealand, South Africa, Malaysia, Singapore, Thailand, Africa, the Pacific Islands to name a few. Ostendo is an international business software system specifically designed for global tax with advanced tax matrices for multiple tax rates.
• Purchasing, Landed Costing and Sales can be undertaken in foreign currencies. Ostendo has advanced multi currency features such as invoicing in one currency and receiving payment in a different currency.
• Valuation methods are Standard or Average. There is also the ability for Inventory Lists to show the Last Cost, with the opportunity to export this information.
• Ostendo has a comprehensive Data Import and Export facility.
• There is a built-in Developer to create and amend existing Forms, Reports, Charts, Analysis and Pivot Tables.

Acknowledgement for Contribution to this Article for Accountants: