Product News: Software
Ledger Reconciliation Software offers in-transit functionality.
Press Release Summary:
April 15, 2014 -
RapidReconciler® v6.4 JD Edwards inventory to general ledger reconciliation tool provides visibility to items shipped and in-transit. Another feature helps organizations account for transfer of goods, at cost or marked-up to cover internal expenses, to sister companies or branches. Compatible with any version of JD Edwards EnterpriseOne or JD Edwards World, solution also facilitates transfers between companies via exchange rate data import capability.
Original Press Release
Latest Version of GSI's RapidReconciler Software, Providing New In-Transit Functionality, Debuts at Collaborate 14
Press release date: April 7, 2014
LAS VEGAS – Just in time for Collaborate 14, GSI, Inc. (www.GetGSI.com) has released a new edition of its RapidReconciler® inventory to general ledger reconciliation software for JD Edwards with several powerful features supporting inventory transfers.
The software release is one of the many highlights for GSI here in Las Vegas, booth 719, during the annual Oracle technology and applications forum. GSI is presenting at a record nine educational seminars and is a sponsor of the 15(th) Annual Quest Executive Forum (formerly CIO Forum) being held on April 9(th). GSI is a customer service-centric ERP software integration specialist focused on JD Edwards products; the company recently was named an Oracle platinum partner.
Version 6.4 of GSI's popular JD Edwards inventory to general ledger reconciliation tool contains new in-transit functionality:
-- Items 'On Hand' - RapidReconciler now provides visibility to items shipped and in-transit acting as a virtual warehouse. It enhances JD Edwards processing where items that are shipped do not appear in the inventory system (and end up as dollars on the balance sheet) until they are received.
-- Transfers at Cost and with Mark-up - This convenient feature helps organizations to account for transfer of goods to sister companies or branches - at cost or marked-up to cover internal expenses. Now, it's easy to establish accounting rules regardless of which method is chosen.
-- Supports Transfers between Companies - Transferring items between companies, with multiple currencies involved and exchange rates altering the value of the goods, can be a real accounting headache. This hassle is now removed as RapidReconciler imports the exchange rate data from JD Edwards and uses it in its calculations. Users are even able to see currency gains and losses when the receipt of goods happens much later than the shipments.
In addition to these new features, RapidReconciler replaces receipts routing, the JD Edwards recommended process for monitoring quantities in-transit. The process used to require setup, on an item by item basis, increasing maintenance requirements and overhead to process these transactions. Since RapidReconciler works off of the order system, this configuration is no longer required to track these quantities.
"We are excited to present our new in-transit solution at Collaborate," said GSI Vice President and CFO Bill Cashman. "GSI has a continuing commitment to develop and enhance RapidReconciler to help our JD Edwards clients save time and money. It has improved inventory accuracy up to 99.7 percent and reduces reconciliation time by an average of 76.3 percent for our clients."
RapidReconciler is used by more than 200 companies and corporate subsidiaries in 17 countries. It is compatible with any version of JD Edwards EnterpriseOne or JD Edwards World and installs in just a few hours with minimal internal support required. The software is guaranteed operational in three days. RapidReconciler is available for license or as a subscription service.
For more information about RapidReconciler, or GSI's other featured services at Collaborate 14 - including its Pinnacle Performance Practice, AppCare managed services and consulting services - visit its show booth or www.GetGSI.com or call GSI at 877-474-4262.
GSI, Inc. (www.GetGSI.com) is a JD Edwards (JDE) full-service application, development, and technology company and Oracle Platinum Partner. The client-centric consultancy offers a comprehensive suite of solutions including AppCare, a 24/7 managed service for JDE, database management systems (DBMS) and operating systems (OS) support as well as RapidReconciler®, its inventory reconciliation software acquired from Andrews Consulting Group. GSI consulting services are backed by its signature 100 percent satisfaction guarantee. Founded in 2004, the rapidly growing company is headquartered in Atlanta with locations nationwide.
RapidReconciler is a registered trademark of GSI, Inc. All other trade names are the property of their respective owners.