Accounting
Bringing digital transformation to the world of accounting.
Empower your accounting department. Provide the data they need, when they need it and in the format needed.
Increasing market and customer demands, growing regulatory complexity, rising internal expectations, elevated disparate data volumes, data integration challenges and resource constraints are all pushing businesses towards automation to improve efficiency. Deploying more resources as a solution to heightened demands no longer solves the problem. With staff mired in mundane, low-value tasks, engagement is on the decline at a time when focusing on analysis and increased productivity must be a main priority. Our solution allows your resources to concentrate on analysis and increased productivity, doing away with tedious, repetitive tasks.
Key Features
Integrative
Rapid data integration with an intuitive solution developed to ingest and prep data from different systems into a singular source.
Custom Reporting
In addition to the default excel reporting, benefit from dashboards, BI Reports, delimited, PDFs and that’s just to name a few.
Customized Mapping
Define custom mapping tables that are auditable, date-based and lock for safety.
Validations & Business Rules
Create transparent validations and audit-friendly business rules as well as easily update business and validation logic.
Strong Data Control
Prevent accidental overwriting of closed accounting periods.
Workflow Integration
Automate your workflow integration with project management software while building your approval mechanism in the service of your choice, and EPIC will automatically generate tasks and assign approvals.
Security & Audit Trails
Role-based security framework allows for easy configuration.
Automated Journals
Reduce close cycle time with the ability to record transactions in the application that are in compliance with your policies and audit requirements, which will be automatically posted into one or more ERPs. To increase efficiency even further, apply business rules to the data, custom approval routing and direct posting based on threshold and roles. Take the extra time to dig into the journal entry for deeper analysis.
Manual Adjustments Module
Enhance the power of data transformation by connecting data sources to a workflow module allowing for manual adjustments in a single application. Stage, validate, approve and finalize data adjustments for reporting, and posting to ERPs or other transactional systems.
General Ledger Panel
The General Ledger Panel allows viewing of the GL records for approval or rejection prior to posting your manual adjustment to your ERP or other systems.
Solutions by EPIC
Accounting
- Easily integrate data with disparate systems including ERPs, FCM, ETRMs, FCM statements, standalone data files and more.
- Centralized data staging at the transaction level
- Customize business rules for data validation and data transformations.
- Automate journal entries.
- Integrate with leading workflow management platforms such as Wrike and ServiceNow.
- Process all manual adjustments for the entire enterprise in a single application.
- A dedicated manual adjustments module is used to stage, validate, approve and finalize adjustments.
- Automates the reclass process for FIN39 and FIN41 netting.
- Maintains a master list of reclass accounts to various balance sheet line items in the system.
- Determines the accounts that qualify for netting through the customization of logic.
- Calculates the fair value of assets including those required under ASC 815 and ASC 820.
- Improves data accuracy and productivity.
- Optimizes SEC compliance.
- Abides by up-to-date SEC protocols
- Manages 10-QS, 10-KS and more with one robust solution.
Commodity Trading
- Generate consolidated master reconciliation reports for a given accounting period that illustrate the flow of data from the ETRM system to the GL account and SEC disclosure report.
- Allows for a detailed analysis of the effect of various exclusions and manual adjustments.
- Perform customized checks on parameters like price, quantity and more.
- Easily reconcile and store incoming data from various sources, creating a centralized database.
- Capture and warehouse data from FCM firms, provided in the form of CSV and Excel files, and perform account-level reconciliation.
- Using PC Span and ICE Span utilities, calculate the span margin for ICE and CME.
- Retrieve broker statements and archive the data in the application’s local database.
- Compare the calculated span margins with broker statements, flagging discrepancies at the account and product level.
- Generate user-friendly reports, easily drilling down on errors.
Hedge Fund
- Extract EOM data from the Position Manager Database and model instrument prices from the finance database.
- Automatically calculate the accrual entries based on the modeled prices of the first of the month and then, books them to the transaction management system.
- Extract the whole deal as is and provide an editable view.
- Create daily, weekly and monthly amortization schedules for a deal as per the requirements.
- Modify a deal prior to the beginning and between the deal period; resulting in an automatic update to the pending amortization schedule.
- Delegate specific users the ability to delete the amortization deal.
- Auto-post to the GL system for all deals for the current day and month.
Accounting Solutions by EPIC
Accounting
- Easily integrate data with disparate systems including ERPs, FCM, ETRMs, FCM statements, standalone data files, and more.
- Centralized data staging at the transaction level.
- Customize business rules for data validation and data transformations.
- Automate journal entries
- Integrate with leading workflow management platforms such as Wrike and ServiceNow
- Process all manual adjustments for the entire enterprise in a single application.
- A dedicated manual adjustments module is used to stage, validate, approve, and finalize adjustments.
- Automates the reclass process for FIN39 and FIN41 netting.
- Maintains a master list of reclass accounts to various balance sheet line items in the system.
- Determines the accounts that qualify for netting through the customization of logic.
- Calculates the fair value of assets including those required under ASC 815 and ASC 820.
- Improves data accuracy and productivity.
- Optimizes SEC compliance.
- Abides by up-to-date SEC protocols
- Manages 10-QS, 10-KS, and more with one robust solution.
Trading Compliance
- Generates consolidated master reconciliation reports that illustrate–for a given accounting period–the flow of data from the ETRM system to the GL account and SEC disclosure report.
- Allows for a detailed analysis of the effect of various exclusions and manual adjustments.
- Easily reconcile and store incoming data from various sources, creating a centralized database.
- Perform customized checks on parameters like price, quantity, etc.
- Capture and warehouse data from FCM firms, provided in the form of CSV and Excel files, and perform account-level reconciliation.
- Using PC Span and ICE Span utilities, calculate the span margin for ICE and CME.
- Retrieve broker statements and archive the data in the application’s local database.
- Compare the calculated span margins with broker statements, flagging discrepancies at the account and product level.
- Generate user-friendly reports, easily drilling down on the errors.
Hedge Fund
- Extract EOM data from the Position Manager Database and model instrument prices from the finance database.
- Automatically calculates the accrual entries based on the modeled prices of the first of the month and then, books them to the transaction management system.
- Extract the whole deal as is and provide an editable view.
- Create daily, weekly, and monthly amortization schedules for a deal as per the requirements.
- Modify a deal prior to the beginning and between the deal period; resulting in an automatic update to the pending amortization schedule.
- Delegate specific users the ability to delete the amortization deal.
- Auto-posts to the GL system for all deals for the current day and month.
