FOR RELEASE 2ND APRIL
For more information
Launches Industry's Most Powerful Web-Based Consolidation
Application As Part of Its Online WebLedger
Consolidation Provides Online Enterprise-Class Accounting
for Businesses with Multiple Locations or
Australia,- April 2004 - VillageMall®, the
premier provider of Web-based applications for business, with 5 to
250 employees, today announced the release of
VillageMall Consolidation, the latest
addition to VillageMall's suite of fully web-based professional
accounting and business applications.
A powerful companion application to VillageMall's enterprise-class
Mid-range Accounting, VillageMall
Consolidation is an optional, fully
integrated service module that enables
the automated roll ups of multiple subsidiary companies into a
parent company. The application allows both accountants and
business managers to easily administer and map subsidiary
companies to parent companies, to correlate subsidiary companies'
financial data with that of parent companies, to automatically
execute the actual consolidation, and to derive the consolidated
financials—all securely and in real-time over the Internet.
"Most companies' consolidations are not only difficult to
coordinate, but are very expensive because their subsidiary
companies are often located in another state or another country,"
said VillageMall CEO Charles Moore, upon
announcing the new application. "VillageMall
Multi-company account Consolidation
provides a vehicle for subsidiary companies—regardless of
location—to be reviewed and consolidated by their headquarters in
real-time, saving time and money while also increasing corporate
management's oversight into their operations."
Fully integrated into VillageMall's core accounting system, the
Consolidation service accommodates any
number of subsidiary companies, in which
several subsidiaries have a
relationship with one parent company.
VillageMall Consolidation is ideally suited to Franchise
operators, who need ensure the financial integrity of their brand.
Secure Online Synchronisation
One of the most innovative of VillageMall's features is its Secure
The feature permits
real-time synchronisation of parent and
subsidiaries accounts to occur at any time, no waiting till
end of period.
VillageMall also provides secure
access and review of
subsidiary detail accounts and source transactions with a
single logon account, at any time and from any
Like all applications within the VillageMall system, the
Consolidation application is accessible to users based upon a
strict set of permissions that are pre-defined by VillageMall's
Historical Accounting-Period and Account Mapping
The Consolidation application also features historical
accounting-period and account mapping, which allows for subsidiary
companies to be rolled into parent companies with differing close
dates or year-end periods. Users of the application can employ the
automatic period, and semi-automated account
mapping rules built into the system and then, as
necessary, override the mapping to accommodate customised mapping
scenarios. Users can also map several subsidiary accounts
to a single parent company account, a capability that allows
the parent company to see the data as required to meet the overall
company objectives. Inbuilt features support
changing General Ledger account structures over time.
VillageMall Consolidation further provides enterprise-class
consolidation tools and functions to the small and medium
in developing secure
next generation Internet
applications for small
is a privately held company, founded in 1999 and is headquartered in
For more information please contact us
or visit the company Web site at www.Villagemall.com.au.