STANDARD CHART OF ACCOUNTS
From Financial Data to Financial Information
"Telling the story"
A Chart of Accounts (COA) is crucial for effective financial management within any organization. It establishes a structured framework that enhances the clarity and accuracy of financial reporting. If a COA is not properly maintained or fails to align with operational needs, software integration, and reporting requirements, it can significantly impair financial operations.
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Municipal 360 offers a standardized COA specifically designed for local governments to enhance the precision and clarity of their financial records, supporting more informed decision-making. In addition, our approach simplifies your account codes, making them more accessible and understandable for your staff.
With the accompaniment of our Account Management Platform, we introduce an interface that makes creating new accounts easy and accurate.
A solid foundation for smart financial decisions
Adopting a Standard Chart of Accounts
Many CFO's have redesigned their Chart of Accounts. But with organizational changes, new reporting measures, limited scalability, and lack of support, designs can quickly degrade.
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Without necessary support or design controls, a custom in-house Chart of Accounts creates more work for staff to use and maintain.
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Adopting our proven and supported standard reduces costs and provides significantly more value including:
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Richer financial data
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Long-term sustainability
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Staying current
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Reduced strain on your resources
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Consistency between departments
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A proven design (built by CFO's and industry professionals)
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Improved benchmarking and analytics
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Allows for collaboration and knowledge sharing among peers
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Greater alignment between municipalities
Join the growing network of municipalities that have adopted the M360 Standard Chart of Accounts.
Why Upgrade?
21%
The average reduction in GL account numbers, for better account management.
100%
Automation of your Statement of Financial Position and Statement of Operations.
99,999
Project accounts available for each department.
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Increase efficiency and automation without the high cost of new software
Benefits
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Save weeks of work during year-end
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Reduce the cost and dependency on financial consultants
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Eliminate risk in manual reporting
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Create clean and accurate financial data
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Create consistency between departments
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Establish policies and procedures
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Ensure your COA is scalable and flexible for changing needs
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Establish a universal design compatible with current and future software.
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Align with neighbouring municipalities
Account Management Platform
To ensure the integrity of a COA design, regular maintenance is essential. Recognizing the complexities and demands this places on your finance team, our M360 COA includes a comprehensive account management platform. This platform is designed to streamline the day-to-day upkeep of your accounts, allowing you to concentrate on decision-making rather than data management.
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Featuring an intuitive navigation interface, the M360 COA makes it easy to explore your Chart of Accounts. With just a few clicks, you can effortlessly view, add, or modify your codes, simplifying the management process and enhancing your operational efficiency.
