Benefits of EliteParks to Your Finance Team
16/10/18

Benefits of EliteParks to Your Finance Team

EliteParks can help to make every aspect of your park management easier and more efficient, but today we’re going to focus on what it can do to help your finance team.

Well, our software is the only solution in the industry which has a fully integrated Financial Management module, built on Microsoft’s Dynamics 365 Business Central, so that you don’t require a standalone finance system, with everything being brought together in the same application.

Here are some of the core financial features available with the EliteParks software:

  • General Ledger (including profit and loss, trial balance reporting and inter-company processing)
  • Cash Management (including bank reconciliations)
  • Sales Ledger (including site see deferrals and cash accounting for VAT)
  • Purchase Order Processing (including workflow and authorisation)
  • Purchase Ledger (including BACS payment processing)
  • Fixed Assets (fully integrated to hire fleet)
  • Inventory Management (fully integrated to unit stock control)

So, how does this all help your finance team? Firstly, it means a reduction in costs associated with things such as data gathering and reconciliation gives you and your staff time to manage, analyse and report on business performance.

It also offers you transparent real-time budget and profit performance data at all levels, as well as real-time reporting on your gross profit, with the ability to drill down to underlying transactions too.

This level of analysis allows you to gain real insight into the revenue and costs of your park, which helps you to make informed decisions about the business and gives you extra control over your expenditure.

You can also integrate your bank accounts to the EliteParks system to automate your BACS and direct debit transactions with customers and suppliers. Additionally, if you operate more than one park, then there’s also the ability to manage multiple legal entities within the one application and automate inter-company transactions, including VAT recovery.

You can also download and import bank statements for automatic reconciliations too.

EliteParks allows you to place orders for fixed assets and inventory items, whilst also allowing you to place limits on the maximum value of any orders too so that any orders which are placed over a certain amount have to be authorised by a manager.

Ultimately, EliteParks allows you to bring all your financial management within one application, which helps to make the lives of you and your finance team a lot easier.

If you’d like to find out more about how EliteParks could help to benefit your finance team, be sure to get in touch with us and request a demo. You can also refer to this page for some video tutorial on how your team can use Elite Parks for producing a BACS export file and import a bank statement for bank reconciliation.

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