Cloud-based accounting technology provider FinancialForce.com has released the Spring ’11 version of FinancialForce Accounting, featuring streamlined tasks and automation and wizards to simplify finance department processes. 

More automation has been introduced in areas such as search, bank reconciliation and currency revaluation. For instance, a Currency Revaluation wizard takes users through all the steps of a currency revaluation and culminates in automated entries to book both the unrealized gain/loss and the subsequent reversing journal. 

Another addition to the release is the use of Force.com’s authorization workflow, which gives financial managers the ability to create simple or multi-tiered electronic approval processes and gain visibility into any authorization bottlenecks. The system uses the same authorization engine as Salesforce CRM.

“Accountants are under pressure to do more, and we hone in on making them more efficient,” said FinancialForce vice president of product marketing Tom Brennan. “We are looking where they are spending a lot of time and how we can make them more productive. Accounts payable is one big area where there’s still a lot of paper and a lot of inefficiencies, so we built in new wizards and automation to help address that.”

FinancialForce Accounting Spring ’11 is available immediately to FinancialForce Accounting users as part of their monthly subscription fee.

For more information, visit www.financialforce.com.

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