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The Power of Choice

With the rapid growth of the Salesforce ecosystem, more and more companies are considering independent software vendors’ cloud applications for that platform. This also applies to those companies looking for cloud-based ERP solutions. Many manufacturers and distributors that have their CRM and other software on that platform are now considering an ERP created just for them that is written on Salesforce. This means the company can leverage their investment in the Salesforce platform and integrate their manufacturing and/or ERP seamlessly with their other Salesforce cloud apps.

Rootstock’s Accounts Receivable, Accounts Payables, General Ledger

Rootstock’s General Accounting Modules – Accounts Receivable, Accounts Payable, and General Ledger and Financial Reporting – are 100% designed for and developed in the Salesforce platform (for example, Rootstock vendors and customers are extensions of Salesforce Accounts). They connect seamlessly to Rootstock’s manufacturing and general business software – meaning not only that there are no external interfaces between operational and financial data, but also (and more importantly) that all the rich capabilities of Rootstock’s operational software are extended into the financial management side of the business.

Integration with other Financial Packages

As a result of the broad “Best of Breed” offerings (both front and back office) contained on the Salesforce App Exchange, Rootstock has leveraged expertise and investments by financial software vendors. This has allowed Rootstock to quickly build the most complete suite of Manufacturing, Distribution and Supply Chain Applications available on the cloud. Alongside the robust Manufacturing, Distribution and Supply Chain Applications, Rootstock has built integrations to popular Accounting Applications both on and off the Cloud (listed below), with many others on the Rootstock product roadmap.

Postings Concerning "The Power of Choice"

Rootstock Founder, President, and CEO Pat Garrehy on "Why Manufacturing Cloud ERP Users Need "Power of Choice" in Financial Packages"

With the rapid growth of the Salesforce ecosystem, more and more companies are considering independent software vendors’ cloud applications for that platform. This also applies to those companies looking for cloud-based ERP solutions. Many manufacturers and distributors that have their CRM and other software on that platform are now considering an ERP created just for them that is written on Salesforce. This means the company can leverage their investment in the Salesforce platform and integrate their manufacturing and/or ERP seamlessly with their other Salesforce cloud apps.

But, such integration doesn’t stop at with the manufacturing ERP. IT management will want to continue to promote a ‘best of breed’ approach to Financial Applications. Present and future manufacturing customers will want their Receivables, Payables, Ledger and Reporting software from a Salesforce partner so that they can continue to easily integrate that partner’s financials with Manufacturing Cloud ERP in the same manner as...continue reading

http://www.rootstock.com/erp-blog/why-manufacturing-cloud-erp-users-need-power-of-choice-in-financial-packages/


Technology Evaluation Center's article "Rootstock Adds Financial Software Capabilities to Cloud Manufacturing ERP Software"

During the Dreamforce 2015 mega conference, Rootstock Software announced that as of early 2016, users of its cloud manufacturing enterprise resource planning (ERP) software will be able to purchase a new set of Rootstock financial and accounting software modules. Accessing more complete functionality under the same contract and license can be a huge advantage, but what about matching users’ needs? Let’s look at Rootstock’s announcement and what it could mean for your enterprise.

Rootstock is nearing 70 user companies, and about 85 percent of those are also users of Salesforce cloud customer relationship management (CRM) software. ERP software from Rootstock is a native cloud manufacturing ERP software solution on the Salesforce App Cloud (formerly called Salesforce Platform). Rootstock will continue to...continue reading

http://www.technologyevaluation.com/research/article/Rootstock-Adds-Financial-Software-Capabilities-to-Cloud-Manufacturing-ERP-Software.html


President of Strativa Frank Scavo's article "Rootstock Rounding Out Its Cloud ERP Offerings"

Rootstock Software is an up-and-coming cloud manufacturing ERP provider, built on the Salesforce.com platform. Last year, we reviewed Rootstock in our post on ERP systems in the Salesforce ecosystem. This post provides an update, based on our interviews with Rootstock executives and customers about the progress the firm has made over the past year.

Adding Native Accounting Applications
With a long history in manufacturing systems, the Rootstock development team built the first iteration of its system in 2008 on the NetSuite platform and then in 2010 rewrote it on the Salesforce platform, where it has continued development...continue reading

http://strativa.com/rootstock-rounding-out-its-cloud-erp-offerings/

Rootstock’s Accounts Receivable, Accounts Payables, General Ledger

Rootstock’s General Accounting Modules

Rootstock’s General Accounting Modules – Accounts Receivable, Accounts Payable, and General Ledger and Financial Reporting – are 100% designed for and developed in the Salesforce platform (for example, Rootstock vendors and customers are extensions of Salesforce Accounts). They connect seamlessly to Rootstock’s manufacturing and general business software – meaning not only that there are no external interfaces between operational and financial data, but also (and more importantly) that all the rich capabilities of Rootstock’s operational software are extended into the financial management side of the business.

Rootstock has long provided and will continue to provide interfaces to non-Salesforce accounting systems, as well as direct, collaborative integration to native Salesforce accounting systems, such as Financial Force. Rootstock’s own General Accounting Modules are not intended to make this historical integration obsolete. Rather, they provide a single-source alternative to that approach for companies that are faced with replacing their existing accounting systems and have not yet selected a different Salesforce-based accounting option.

Rootstock’s General Accounting Modules are not general-purpose accounting applications, suitable, say, for banks, hospitals, or government agencies. Rather, they are designed for the same kinds of manufacturing and distribution companies that benefit most from Rootstock ERP as a whole. The operational capabilities of Rootstock ERP are seamlessly extended to Rootstock’s General Accounting Modules. By this we mean that the core operational concepts of Rootstock ERP – among them, multiple companies, operating divisions, manufacturing and engineering projects, reporting dimensions, and so on – are also embedded into each of Rootstock’s General Accounting Modules, without any need for translation, synchronization, or custom development on the financial side. In a nutshell, if Rootstock ERP supports something, so do Rootstock’s General Accounting Modules – and in exactly the same terms.

As with Rootstock ERP, so too Rootstock’s General Accounting Modules support complex business environments, with multiple operational entities doing business in multiple currencies and reporting in multiple ways (e.g. with many user-defined reporting dimensions, or across multiple projects). But, also as with Rootstock ERP, Rootstock’s General Accounting Modules can be configured to operate in the simplest manufacturing and distribution environments as well. The complexities required by some users are not imposed on users who don’t need them.

Rootstock General Ledger and Financial Reporting

Rootstock General Ledger and Financial Reporting is a complete suite of modules for managing a company’s financial accounting functions. It provides simultaneous posting of each transaction to company, account, project, operating division, and up to eight user-defined dimensions. Full drill-down to source transactions on the operational side of Rootstock. Unlimited consolidations in unlimited currencies. No limits to user-defined financial reports, from the simplest to the most elaborate. Straightforward tools for managing even the most complex closing process. Journal entry process that accommodates both the simplest and the most formal and complex accounting procedures.

  • Accounting objects. Rootstock General Ledger and Financial Reporting tracks financial data by company, by general ledger account, by operating division, by manufacturing project, and by user-defined reporting dimension (up to eight user-defined dimensions are supported). By leveraging the native database features provided by the Salesforce platform, single transactions update all accounting objects automatically, rendering common out-of-balance conditions mechanically impossible. General ledger accounts are mapped to the Manufacturing Accounts established within Rootstock ERP, permitting user-defined operational subledgers to be automatically maintained.
  • Budgets. Budgets may be recorded and revised and are available for inclusion in comparative financial statements.
  • General journal entries. All common forms of general journal entry are supported: one-of-a-kind, standard, recurring, and automatically reversing. Templates for standard and recurring entries can be created and maintained, and turned into actual journal entries automatically. Journal entries can be identified by sequentially assigned number, by standard entry ID, or by both.
  • Trial balance. A feature-rich trial balance report can show the accounting position of an entire company or of subsets of the company filtered by operating division, manufacturing project, and/or dimension.
  • Financial reports. An unlimited number of financial reports can be designed for each company. Reports can use (and be filtered by) all of the accounting objects listed above. Extensive report cloning is provided. Reports can access financial data, budget data, and other external data, including results from other reports. For comparative purposes, any report can access data from any prior period, provided that it has been captured in the Rootstock database. Calculations (e.g. for percentages or over-under columns) can be defined within report templates. Extensive totaling options are provided.
  • Simple consolidations. Companies can be nested to any level, and subsidiary company results are rolled into their parent company’s consolidated statements automatically. Intercompany elimination entries are supported for consolidation purposes.
  • Multicurrency consolidations. Subsidiary company statements can be automatically translated into a different parent-company reporting currency for consolidation purposes. Balance sheet and P & L rates are automatically calculated, with full reporting traceability.
  • Full drill-down capabilities. By leveraging the features of Salesforce’s database managing software, a full chain of drill-downs is automatically maintained from financial report lines to account, division, project, and dimension balances, then to individual accounting transactions, then to source transactions in Rootstock ERP, and finally to source orders and inventory data.

Rootstock Accounts Payable

Manages Accounts Payable for multiple companies, currencies, control accounts, and bank accounts. Manages and pays invoices, debit memos, and credit memos that originate in Rootstock Purchasing Management and Receiving. It is fully linked back to source purchase orders and inventory transactions. All common forms of payment (check, cash, credit card, and all forms of electronic transfer) can be made, either in scheduled payment runs or in one-off, emergency payment transactions, across multiple currencies, and performs all required currency translations and gains and losses on exchange fully and automatically. Includes full bank account management (including payment reconciliation in multiple currencies) and A/P aging within multiple control accounts. Preserves any and all detailed information from Rootstock Purchasing and Inventory that has significance for A/P and general financial management. Provides full drill-down from within the A/P module itself to purchase orders, receipts, and related source transactions. Fully integrated to Rootstock General Ledger and Financial Reporting.

Rootstock Accounts payable

  • Vendor data. Rootstock Accounts Payable leverages a shared vendor account data model with Salesforce and Rootstock Purchasing Management.
  • General ledger integration. Rootstock Accounts Payable is fully integrated to Rootstock General Ledger and Financial Reporting. Depending on the user’s choice of operating environments, General Ledger transactions may be posted in scheduled batches or immediately, as Accounts Payable transactions occur.
  • Payment selection and quick payment. Rootstock Payment Selection manages the selection of items for payment and the application of credit memos in a single, integrated process that can select multiple vendors for payment in a single run. Payment selection automatically nets open debits and credits and takes cash discounts when payment terms permit. As an alternative to payment selection, Rootstock Quick Payment permits individual invoices to be paid on an ad hoc or emergency basis. Both methods support all forms of payment – checks, cash, credit card, and all forms of electronic transfers – and support payment in company currency, vendor currency, or a designated payment currency, with full accounting for gains and losses on currency exchange.
  • Adjustments. Debit and credit memos can be created and applied directly within the Accounts Payable.
  • Payment reconciliation and voided payments. Rootstock Bank Reconciliation – a single process that manages A/P payments, A/R deposits, and transfers recorded by journal entry – allows payments to be reconciled and voided, and payment variances to be booked.
  • Reporting. User-configurable aging reporting, with support for simultaneous multiple formats (look ahead, look backwards, user-defined aging buckets, as-of the report date or as-of a past date). Full transaction history available for reporting. Bank-related reporting in bank currency (for payments), user-company-related reporting in company currency, and vendor-related reporting in vendor currency. Cash requirements reporting for managing payment selection.

Rootstock Accounts Receivable

Rootstock Accounts Receivable manages Accounts Receivable for multiple companies, currencies, control accounts, and bank accounts. Accommodates all forms of incoming payments – checks, cash, credit card, and all common methods of direct payment to the bank, and performs all required currency translations and gains and losses on exchange fully and automatically. It is fully linked back to source orders and sales transactions and preserves any and all detailed information from Rootstock Sales Orders, Invoicing, and Subscription Billing that has significance for A/R and general financial management. Manages debit and credit memos originating from the accounting side. Provides full drill-down from within the A/R module itself to sales order, shipping, and related source transactions. Fully integrated to Rootstock General Ledger and Financial Reporting. Includes full bank account management and A/R aging within multiple control accounts.

  • Customer data. Rootstock Accounts Receivable leverages a shared customer account data model with Salesforce and Rootstock Sales Order Management.
  • General ledger integration. Rootstock Accounts Receivable is fully integrated to Rootstock General Ledger and Financial Reporting. Depending on the user’s choice of operating environments, General Ledger transactions may be posted in scheduled batches or immediately, as Accounts Receivable transactions occur.
  • Cash receipts. Rootstock cash receipts accepts payments in the form of checks, cash, and all forms of automatic payment, whether received by the user company or reported by the bank. Among the features of Rootstock cash receipts: payment discount calculation, application of open credits to open debits, posting unapplied cash and later applying it to invoices, posting of prepayments, credit card payments, unbilled cash received directly to revenue (or other GL account), small-balance write-off or write-up and large-balance write-offs with appropriate approvals, automatic translation between multiple currencies – bank currency, user company functional currency, customer currency, and payment currency, with gains and losses on foreign exchange taken wherever appropriate.
  • Adjustments. Debit and credit memos can be created directly within the Accounts Receivable function.
  • Reporting. User-configurable aging reporting, with support for simultaneous multiple formats (look ahead, look backwards, user-defined aging buckets, as-of the report date or as-of a past date). Full transaction history available for reporting. Bank-related reporting in bank currency, user-company-related reporting in company currency, and customer-related reporting in customer currency. Calculation of customer account statements and finance charges.

Integration with other Financial Packages

Rootstock has built integrations to popular Accounting Applications both on and off the cloud.

As a result of the broad “Best of Breed” offerings (both front and back office) contained on the Salesforce App Exchange, Rootstock has leveraged expertise and investments by financial software vendors. This has allowed Rootstock to quickly build the most complete suite of Manufacturing, Distribution and Supply Chain Applications (including powerful functionality such as Sales Order and Purchasing) available on the cloud. Alongside the robust Manufacturing, Distribution and Supply Chain Applications, Rootstock has built integrations to popular Accounting Applications both on and off the Cloud (listed below), with many others on the Rootstock product roadmap.

Although each Accounting System may differ in the depth and breadth of their offerings, ALL must offer the basic functionality of Accounts Receivable, Accounts Payable, Cash Management, General Ledger (Journals) and the ability to generate accurate Financial Statements. In addition, Rootstock has sought to integrate with Financial applications that support our multi-company, multi-division, multi-site, multi-national, multi-currency and a multi-dimensional Chart of Accounts (providing the ability to track and report financial results by Project, Department, Sales Region, etc. while at the same time retain a simple Chart of Accounts) capabilities.

To that end, Rootstock currently has built-in integration with the following Financial and Accounting Systems:

Financial+Force+RGB+_79C8F2+logo

FinancialForce is the “Top Accounting App on the Salesforce Platform” and, because it is 100% Native to the platform, Rootstock has been able to “seamlessly” integrate to their Accounting package.

FinancialForce is a comprehensive accounting application built on the force.com Platform. It offers a full suite of Accounting features such as the ability to, in conjunction with Rootstock Manufacturing, have real-time visibility of your financial data, streamline your order to cash and procure to pay processes, allow for faster period closes (always in balance) and improved cash flow by providing the following key features…

  •   Accounts Receivable – Customer related transactions
  •  Accounts Payable – Vendor related transaction
  •   Cash Management – post cash receipts and process payments
  •   General Ledger and Budgeting – record transactions to the Accounting General Ledger reporting period-to-period financial results and against established budgets
  •   Analysis Dimensions – optional elements of some accounting codes that form part of the Chart of Accounts enabling use to analyze business activity in additional ways such as by Cost Center, Projects, Sales Regions, etc., at the same time while retaining a simple Chart of Accounts
  •   Budgeting – ability to track and report variances of actual period balances against budgeted amounts
  •   Multi-Currency – transact and report across multiple currencies, including managing exchange rates and auto generated, periodic currency revaluations on defined General Ledger Accounts
  •   Multi-Company – including Inter-company Transactions
  •  Accounting Launchpads – provides a “Workflow” like view of the various Accounting features with immediate access to the Application
  •  SF Platform features
  •  Create Profiles, Roles and user-based dashboards, with drilldown from dashboards to transactions instantly
  •  Opportunities/Quotes – ability to create Sales Order and Sales Invoices automatically from existing Opportunities and Quotes
  •  Reports – chose from a library of available Report Templates, or easily create your own across the multiple Applications on your Org.
  •  Dashboards – as a Finance professional you can see a full picture of your Company’s financials through various dashboards. Either utilize a set of available Dashboards, or easily create your own. You can also drill-down into these reports for analysis if needed.

 

intuit-quickbooks-logo

Intuit offers an expansive list of popular Accounting products, both Online and Desktop, with varying levels of functionality. Rootstock has developed “Integration” tools that facilitate the transfer of financial data to their online and desktop product offerings.

QuickBooks Online – Rootstock utilizes QuickBooks API’s (Application Programming Interfaces) to automatically create the appropriate recording of the related financial transactions in the accounting system.

QuickBooks Desktop - Rootstock generates QuickBooks formatted Text Files (aka IIF - Intuit Interchange Format) which the user uploads into the QuickBooks Desktop application.

In both cases, the transactions include:

  •   Journals to record all of the Cost Transactions
  •   Customer Invoices to record Accounts Receivable and associate Revenue, and to which to record cash receipts
  •   Vendor Bills (which have been matched valid Purchase Order (Price) and PO Receipt (Quantity) to record Accounts Payable and associated expenses and from which to pay vendors

intuit-quickbooks-logo

Intacct – Rootstock utilizes Intacct’s API’s (Application Programming Interfaces) to automatically create the appropriate recording of the related financial transactions in the accounting system. These transactions are transferred by an automatic background process that can be scheduled at the customer’s desired frequency (every minute, every hour, etc.). The transactions include:

  •   Journals to record all of the Cost Transactions
  •   Customer Invoices to record Accounts Receivable and associate Revenue, and to which to record cash receipts
  •   Vendor Bills (which have been matched valid Purchase Order (Price) and PO Receipt (Quantity) to record Accounts Payable and associated expenses and from which to pay vendors