Technology Evaluation Centers Inc.
ERP and CMMS for the Mining Industry
Hierarchy Criterion SUP PSUP PADD MOD 3RD CST FUT NS Description
Financial system modules for bookkeeping and ensuring accounts
1 Financials are paid or received on time.
General ledger keeps centralized charts of accounts and corporate
financial balances. It supports all aspects of the business accounting
process. In this module, financial accounting transactions are posted,
processed, summarized, and reported. It maintains a complete audit
trail of transactions and enables individual business units to view their
financial information, while parent companies can roll up all business
1.1 General Ledger subsidiaries and view the consolidated information.
1.1.1 Parameters and Structuring
Lean manufacturing typically refers to paperless (or less paper)
Lean manufacturing accounting practices and methods production and accounting. Instead of recording costs for every single
(i.e., manufacturing overheads based on cycle time order, the idea is to record these for certain determined cycles or
126.96.36.199 including labor) schedules.
188.8.131.52 Fiscal calendar is defined by the user
184.108.40.206 Calendar periods are defined by the user
Calendar can be defined as uneven periods, adjustment
220.127.116.11 periods, or into a maximum of 366 periods
Multiple calendars may be useful for different accounting scenarios.
For example, different financial entities may need separate fiscal
calendars--one set of books might require a quarterly calendar while
another would require a different term. If a merger results in two
financial entities that have different fiscal calendars, the accounting
system will need to maintain both calendars and normalize the data
(Q2 for Entity A is equal to Q3 for Entity B). This may also be useful
18.104.22.168 Multiple calendars for what-if scenarios.
A financial reporting entity is a business unit which can legally make
22.214.171.124 Multi-entity financial reporting financial reports.
Fiscal monthly period options for twelve or thirteen
The 4-4-5 calendar period uses a four week, four week, five week
Fiscal quarterly periods can be defined as 4-4-5, 5-4-4, pattern. Likewise, the 5-4-4 calendar period uses a five week, four
126.96.36.199 or 4-5-4 week, four week pattern; and analagously for the 4-5-4 pattern.
188.8.131.52 Organization of the calendar period defined by the user
Calendar may be organized in a variety of ways with up The calendar can be organized in a limitless form, with up to 999 user
184.108.40.206 to 999 user periods periods, per calendar
Open any number of fiscal years or calendar periods at The ability to have any number of fiscal years or calendar periods
220.127.116.11 the same time open concurrently
The ability to set a default currency by entity. For example, if a large
company has one entity responsible for conducting business in the
Companies with different regional presences may set a US and another entity for the UK, the default currency may be dollars
18.104.22.168 default currency for the financial division of each region for the US and British sterling for the UK.
The reporting entity may determine organization of the The ability to decide how to organize data when defining the
22.214.171.124 financial information organization of an enterprise's financial information
Distinguish A/P transactions (of the same type) from
126.96.36.199 different entities account payable (A/P)
Each entity's ledger can have its own calendar and The ability to define a specific period calendar and chart of accounts
188.8.131.52 chart of accounts for each entity ledger
Each entity's ledger can have its own accounting By controlling when an account is open and closed, the posting of
184.108.40.206 periods opened and closed information in an account period can restricted.
User may choose between data collection and real time
220.127.116.11 posting modes Allows for instant processing or batch processing
Tracks items in the G/L and sub-ledger by quantity and
18.104.22.168 value (in whichever currency is used) general ledger (G/L)
The ability to change the currency used in balance sheet accounts to
another currency using a default rate. It is possible to override this
Maintain unit and dollar amount postings in GL and sub- default rate for particular accounts. Moreover, it is possible to set
22.214.171.124 ledgers different default rates for different subledgers.
User defined criteria for system purges for general
ledger transactions, journal vouchers, and accounts
payable data based on the number of years or months
of data required to maintain--each purge type has its
126.96.36.199 own unique criteria
Sub-ledgers closed out prior to performing a purge. The
closeout process sets all financial account balances in
the sub-ledger to zero by posting an equal and offsetting
A general ledger key typically is an identifier attached to accounts to
put the accounts into groups. For example, there may be fifteen
Specify a key and rules to have the system
accounts in the chart of accounts related to payroll, and all fifteen
automatically purge all records related to the key accounts will be assigned the same key (perhaps "PAYROLL"). Thus
throughout the system--sub-ledger accounts, sub-ledger the system can purge or set other rules to all chart of accounts with
188.8.131.52 transactions, tables, rates the same key.
Automatic check to ensure that prior to deleting a
financial record, the account balance must have been
184.108.40.206 "closed out" i.e. nets to zero
Translation of balance sheet accounts including the
ability to have a default rate (spot) that can be
overridden on an exception basis (historic), on an
The ability to cumulatively incorporate results from the previous
account-by-account basis - do not want to set up a rate accounting period into the current accounting period, but only when
for every balance sheet account - the override rates will the last document generated in the previous period was the financial
220.127.116.11 differ ledger to ledger statement.
Automatically insert actual account balances into the
elapsed month's bucket in a future forecast file at the
end of each accounting period when the system rolls
18.104.22.168 into the next period
The ability to cumulatively incorporate results from the previous
accounting period into the current accounting period, but only when
Prevent roll from one accounting period to the next the last document generated in the previous period was the financial
22.214.171.124 unless the last job run is the financial statements statement.
Audit log required for any changes to table information
that may contain rates and information, which is used by
the system in any way--before, after, change, date, and
General ledgers are designed to present values for creating financial
statements. The multiple level for a ledger key means the system will
have a more complex and functional key structure--one that supports
126.96.36.199 Flexible general ledger key with multiple levels a hierarchy of keys.
The ability to automatically, rather than manually, identify open
receivables exceptions by using user-defined conditions (for example,
188.8.131.52 Exception reporting with drill down capabilities very large amount invoices, exceeding credit line, etc.)
Change cross charge percentages without retroactively
184.108.40.206 changing previously published financial information
Provision for use of standards that can be automatically
propagated throughout the system to the various
Integration with ADP electronic transmission of payroll
220.127.116.11 data ADP refers to automatic data processing.
Use the budget forecast information to create automatic
postings; accruals for any potential overhead item, for
example, bonus, depreciation, professional fees, new
product development, and marketing expense; support
standard (automatically repeating) postings and entries
that are generated each month with reference to
amounts maintained in budget fields for the month. The
amounts may or may not be the same from month to For future expenses that have not been received. Upon invoice
18.104.22.168 month receipt, differences are posted to a particular G/L account.
This is different from a purge because the balance still exists but has
been moved to another account. This allows for the automatic aging
of account balances from a current file to a prior file and is required to
Automatic year-end rolling of balances in sub-ledgers maintain separate balances relating to customers acquired in the
22.214.171.124 and general ledger control accounts. current year and in prior years