Introducing Multi-book Accounting: Automated Cash and Accrual Visibility

COLUMBIA, Md., June 20, 2024 /PRNewswire/ -- Accounting Seed, the #1 accounting solution built on the Salesforce Platform, unveiled its latest offering, Multi-book Accounting—enabling businesses to automate the tracking of cash and accrual transactions for complete financial visibility across the organization.

Multi-book Accounting gives users the ability to enter source documents once and automatically create, track, and report on transactions in both cash- and accrual-basis accounting for a more accurate view of the business in real-time. The ability to automatically track in multiple accounting methods highlights Accounting Seed's commitment to provide accounting automation for greater efficiency without sacrificing accuracy.

In today's fast paced environment, Multi-book Accounting allows businesses to analyze financial performance from multiple perspectives all within Accounting Seed. It makes satisfying the different reporting requirements of both internal and external stakeholders easy thanks to enhanced visibility into both cash flow and overall business health.

"The beauty of this offering is the way transactions are tracked; Accounting Seed has eliminated the need to make manual adjustments," said Ryan Sieve, Chief Technology Officer of Accounting Seed. "With Multi-book Accounting, transactions are automatically tracked in both cash- and accrual-basis. It gives businesses a real-time view into revenue recognition at the product level and the ability to run consolidations across both cash and accrual books. With the power to track KPIs across the business, organizations can confidently report to satisfy both GAAP and cash financial requirements."

Key benefits of Multi-book Accounting include:

• Automated Tracking: Eliminate the need to record transactions in multiple places by having both accrual- and cash-based accounting tracked automatically in one system.
• Enhanced Visibility: Gain deeper insights into performance by viewing financials from different perspectives—empowering informed decision-making and strategic planning.
• Expanded Reporting Flexibility: Generate comprehensive reports tailored to meet the specific needs of regulatory bodies, internal management, and investors by effortlessly switching between accrual and cash-based methods.
• Improved Financial Controls: Easily reconcile differences between management and statutory reports while maintaining a clear audit trail for financial oversight.

Accounting Seed continues to expand the company's product development efforts to support greater visibility and automation—enabling a single source of financial truth for businesses using Salesforce.

About Accounting Seed

Accounting Seed was published on the Salesforce AppExchange as a native accounting solution in 2011, effectively bringing Accounting and Customer Relationship Management (CRM) securely under one roof. The native sharing of data on the Salesforce platform gives all departments a real-time view of business performance from sales to operations to finance—while enabling greater efficiency through automation and paving the way for financial growth. Learn more at www.accountingseed.com.

SOURCE Accounting Seed