General Ledger Coding exists to create a fluid and precise accounting process. However, many businesses find the administrative strain and complexity that comes with it to be a huge headache, especially in supply chain operations.
Shipments tendered incorrectly, with the incorrect reference fields and on the wrong account, represent 2 to 20% of all shipments. When this happens, the invoice charges must be reconciled manually, which is an inefficient use of time. Not to mention it often results in individual error.
The Optimum Parcel General Ledger Coding service (GLC) provides a better way. The GLC automates the process of the most complex general ledger coding on even the messiest freight invoices. With Optimum Parcel, you have the perfect GL accounting foundation for smarter financial management for logistics.
Why automate the general ledger coding process
GLC handles the most complex GL coding logic like a champion while offering significant benefits to businesses.
Recovered time
For scaled operations, the time savings from GLC is a major advantage. High-volume shippers perform manual research and address thousands of exceptions weekly. GLC pinpoints missing reference fields and applies intelligent automation to route values to the proper field and significantly reduces the number of exceptions. GL coding service puts the cost accounting of your shipping invoices on autopilot.
Increased accuracy
With an integrated General Ledger, key decision makers have instant access to accurate financials to conduct strategic moves and accounts payable has developed a more agile environment. Optimum Parcel works with businesses to assign GL codes that make the most sense.
Financial compliance
GLC guarantees data integrity, aligns cost center information with invoice data, and ensures financial compliance. Use the GLC service to build queries, view real-time financials and pull ad-hoc reports for deep dives into financial records. GLC accelerates reconciliation, amplifies financial transparency and enables businesses to meet internal and external reporting requirements.
Automated general ledger accounting solution for shippers
Be the hero in your accounts payable department by enlisting the help of Optimum Parcel to automate your GL coding processes and develop the most efficient GL account code structure. Your general ledger chart of account will be more efficient than ever before. Stop wasting valuable time and make invoice coding easier for everybody involved in the process with Optimum Parcel GLC.
