Feature Preview: Updates to Integrated Home Office Accounting (HOA)
May 31st, 2023
Empowering Your Financial Management with Integrated HOA Updates
In our continuous efforts to enhance your cynergi|suite experience, we’re thrilled to announce upcoming releases and updates to Integrated Home Office Accounting (HOA).
These updates will bring a host of new features and improvements to help streamline financial tracking, reporting, and analysis for your RTO business. In this blog post, we’ll provide an overview of the exciting enhancements coming to cynergi|suite and when you can expect to see the release.
What’s New in cynergi|suite’s Integrated HOA Feature?
1. Relational Database Migration
An integral part of this comprehensive rewrite, we have successfully transitioned Integrated HOA to a fully-functional, robust relational database. This migration represents a significant advancement in data management, offering improved data structure, operational efficiency, and at the end of the day, an overall enhanced cynergi|suite experience for your business.
2. Four Years of Financial Reporting
In the current version of cynergi|suite, GL reporting is limited to the current year. With the rewrite of the Integrated HOA feature, you’ll be able to gain more valuable insights with GL reporting covering four years.
This extended reporting period allows you to analyze historical data and make better-informed financial decisions based on a comprehensive view of your RTO business’s overall financial health.
3. Clearer and More User-Friendly Reports
Access easy-to-understand accounting reports with improved clarity and user-friendliness.
We have made significant enhancements to the report presentation, including listing all criteria at the top of the report, adding shading to enhance readability, and providing options for Windows-enabled printing and downloading.
4. PDF Format
All accounting reports will now be available in PDF format for convenient access and seamless sharing with stakeholders. This addition simplifies the process of reviewing and distributing financial information.
5. Quick GL Inquiry/Analysis
We have redesigned the interface to present all relevant information on a single screen, improving readability and usability.
View period and cumulative data together for fast reference and efficient analysis. With the ability to make inquiries based on four years’ worth of data and choose a specific profit center, you can quickly gather the information you need to make well-informed financial decisions.
6. Efficient GL Reversal Journal Entries
Manage posting effortlessly with GL Reversal Journal Entries. This feature streamlines the process of reversing journal entries, reducing the risk of errors and simplifying your accounting workflows.
7. Streamlined Financial Tracking
Tracking and reconciling financial transactions have never been more efficient.
Unique Journal Entry numbers will now be assigned to GL Detail records to enhance financial tracking. This improvement enables you to easily trace the components of a specific journal entry by searching for its unique JE number.
8. Pending Journal Entry Maintenance Updates
Filter and Sort
We have added the ability to filter pending journal entries by code, day, or profit center, providing greater control and flexibility in managing your journal entries.
Message Field
We’ve included an additional Message field to identify the store from which the entry originated. This enhancement improves visibility and simplifies the identification of journal entries from different stores.
Search Capability
You can now search for pending journal entries using source codes or a range of source codes. This search functionality saves time and makes it easier to find specific journal entries. For example, searching from MEC to MET will retrieve all your month-end reports.
Enhanced Export Control
With this update, you have the ability to control the destination folder for export files in your Windows environment. This feature provides convenience and flexibility in managing your exported data.
When Can I Expect To See This Release?
We expect the new HOA GL functionality to be available for beta testing by the end of summer 2023. Subsequent releases will include updates for AP, Bank Reconciliation, Purchase Orders (PO), GL Financial Statements, and end-of-year processes.
You’re probably familiar with current-state HOA changes being deployed via regular updates to cynergi|suite. In moving to the new HOA feature, we will need to assist in migrating your data to the new file structure—stay tuned for more information as this feature is released.
Set Your Store Apart.
We are excited about the upcoming Integrated Home Office Accounting (HOA) updates, which bring a range of new features and enhancements to optimize your accounting processes. These updates will provide you and your RTO business with powerful tools to gain insights, streamline financial tracking, and generate clear and user-friendly reports.
Should you have any questions or require further information, please do not hesitate to contact us. We look forward to helping you elevate your RTO business’s accounting experience with our latest release.
Simply reach out to your dedicated Sales Executive, or contact High Touch Technologies for more information or to request future enhancements to cynergi|suite.