FOR RELEASE 2ND APRIL 2004

For more information contact:
info@villagemall.com.au

VILLAGEMALL^®
 VillageMall Launches Industry's Most Powerful Web-Based Consolidation Application As Part of Its Online WebLedger Accounting Suite..

VillageMall Consolidation Provides Online Enterprise-Class Accounting for Businesses with Multiple Locations or Subsidiaries.

Brisbane, 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 Online Synchronisation capability. 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 geographic location.

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 customer companies.

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 enterprise.

More information here.

About VillageMall

VillageMall is the pioneer,  in developing secure next generation Internet applications for small business. 
VillageMall is a privately held company, founded in 1999 and is headquartered in Brisbane, Australia.
For more information please contact us or visit the company Web site at www.Villagemall.com.au.