GM-X Finance is the world's first enterprise-grade financial package that you can use on your smartphone ... and it runs on a blockchain for absolute security: 

  • General Ledger
  • Accounts Receivable
  • Accounts Payable
  • Fixed Assets

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General Ledger

  • Multi-company with optional organizational rollup
  • Multi-currency
  • Unlimited groupings and hierarchies with interactive account balance rollup in real time
  • Interactive, real-time account balance enquiry by any time frame and range of accounts
  • Integrated with GM-X Blockchain subsystem for absolute security
  • Fully integrated with GM-X Party, Accounts Receivable, Accounts Payable, Fixed Assets, Inventory, Invoice, Order, Project, Shipment, Work Effort, Audit and Workflow subsystems
  • Drill-down from journal entries directly to invoices, revaluations, settlements, fixed asset transactions, orders, return material authorizations, inventory movements, projects, timesheets and employee expense reports   
  • Multiple standard charts of accounts
  • Supports up to 40 account segments
  • Account number format rules
  • Account number up to 40 significant digits
  • Account descriptions in multiple languages
  • Budgets
  • Posting in statistical quantities as well as monetary amounts
  • Unit of measure conversions for statistics
  • Standing journal entries
  • Recurring journal entries
  • General ledger allocations and waterfall allocations
  • Perpetual general ledger
  • Currency translation
  • Automates exchange rate retrieval from any standards-compliant currency information service
  • Flexible multi-company consolidation
  • Calendar or fiscal year
  • Audit period
  • 52-53 week fiscal years (4/4/5, 4/5/4, 5/4/4, 13-month)
  • Multiple fiscal periods may remain open simultaneously
  • Flexible journal entry status configuration in multiple languages
  • Workflow-driven journal entry review and approval processes using GM-X Workflow subsystem
  • Option to park journal entries until complete
  • Option to post journal entry batches in background
  • Journal entry reversal
  • Unpost journal entry
  • Copy journal entry, or move to a different fiscal period
  • Trial balance extract to spreadsheet
  • Extract account balances to spreadsheet
  • Extract account balance movement details to spreadsheet
  • Extract consolidated balances to spreadsheet
  • Extract journal entry details to spreadsheet
  • Extract exchange rates to spreadsheet
  • Extract chart of accounts to spreadsheet
  • Extract fiscal periods to spreadsheet 

Accounts Receivable

  • Maintains customers as organizations or persons in the GM-X Party subsystem
  • Option to specify balance sheet accounts for receivables, inventories, work in process (WIP), customer deposits, accrued financial discounts allowable, accrued sales commissions, sales/output value-added taxes (VAT) accrued and sales/output VAT payable at the company level, or by individual customer
  • Option to specify balance sheet account for income tax withheld by individual customer 
  • Option to specify income and expense accounts for revenue, discounts, allowances, surcharges, expense recovery (including sales/output VAT expense), direct sales commissions and cost of sales at the company level, by individual product categories or for specific price components
  • Option to specify income and expense accounts for financial discounts taken by customers, and for foreign exchange gains and losses, at the company level 
  • Sales/output VAT rates configurable for standard, reduced and zero rates by customer, product category and geographic area
  • Fully integrated with the GM-X Invoice subsystem to maintain general ledger account distributions and amounts due from customers in functional currency as well as foreign currency, if applicable
  • Maintains current settlement status of invoices, credit notes and debit notes initiated in the GM-X Invoice subsystem
  • Fully integrated with the GM-X General Ledger, Blockchain and Audit subsystems to automatically post invoices, credit notes, debit notes, payments, clearings and write-offs to each fiscal period
  • Extracts Customer Invoice Report, Cash Receipts Report, Aged Receivables Report and Receivables Distribution Report to spreadsheet
  • Prepares Customer Account Statements (PDF) which can be sent to customers automatically by email, or printed for mailing
  • Maintains average days to pay by customer
  • Real-time calculation and display of available customer credit in relation to credit limit
  • Option to put customers on hold, and release
  • Maintains multiple bank accounts
  • Manages cash sales and customer prepayments, with automated clearing of open customer prepayment balances
  • Allows for full or partial receipt of payments against each invoice, and full or partial clearing of credit notes and debit notes
  • Allows updating of multiple customer invoices from a single payment
  • Option to upload cash receipts automatically from Bank Administration Institute standard BAI and BAI2 files provided by lockbox services
  • Revaluation of foreign currency invoices at current spot rates of exchange
  • Automates retrieval of current spot rates from any standards-compliant currency information service
  • Automatic reconciliation of unrealized and realized foreign currency gains and losses upon full or partial receipt of payment
  • Automatic reconciliation of accrued sales/output VAT liabilities and sales/output VAT amounts due to tax authorities
  • Online enquiry and summarization of invoices and payments received for a specific customer

Accounts Payable

  • Maintains suppliers as organizations or persons in the GM-X Party subsystem
  • Option to specify balance sheet accounts for vendor deposits, inventories, work in process (WIP), payables, accrued financial discounts allowable, input value-added taxes (VAT) accrued, input VAT reclaimable and accrued expenses at the company level, or by individual supplier
  • Option to specify balance sheet account for income tax withheld by individual supplier
  • Option to specify income and expense accounts for inventory purchases, purchase price variances (PPV), direct and indirect labor, discounts and allowances taken, surcharges (including freight and insurance), reimbursable expenses, employee expense claims and non-reclaimable input VAT expenses at the company level, or by supplier
  • Option to specify default income and expense account distributions by supplier
  • Option to specify income and expense accounts for financial discounts taken upon payment to suppliers, and for foreign exchange gains and losses, at the company level
  • Input VAT rates configurable for standard, reduced and zero rates by supplier, product category and geographic area
  • Maintains and tracks supplier invoices and details for goods and services in functional currency as well as foreign currency, if applicable, together with general ledger account distributions
  • Fully integrated with GM-X Order and Shipment subsystems for 3-way matching between invoice, purchase order and goods receipt
  • Maintains supplier invoice date and tax date
  • Supports multiple user-defined terms of trade for supplier invoices
  • Allows terms of trade for invoices to be linked to individual supplier invoices or invoice details
  • Supports multiple user-defined supplier invoicing roles such as data entry clerk, approver, receiver
  • Identifies respective roles of an invoice’s issuing and receiving parties
  • Supports supplier invoice statuses such as received, pending approval, approved for payment, paid, void
  • Automatically tracks the status history for each supplier invoice
  • Maintains current settlement status of supplier invoices, credit notes and debit notes
  • Fully integrated with the GM-X General Ledger, Blockchain and Audit subsystems to automatically post invoices, credit notes, debit notes, payments, clearings and write-offs to each fiscal period
  • Extracts Supplier Invoice Report, Cash Disbursements Report, Aged Payables Report and Payables Distribution Report to spreadsheet
  • Maintains multiple bank accounts
  • Manages cash purchases and prepayments, with automated clearing of open supplier prepayment balances
  • Proposes the payment of open supplier invoices and clearing of open debit and credit hotes according to the relevant terms of trade, with option to override invoices, payment dates and amounts
  • Workflow-driven review and approval processes for supplier invoices and payments using GM-X Alert and Workflow subsystems
  • Supports income tax withholding from supplier payments when required
  • Prepares electronic disbursements as well as paper checks
  • Prepares Remittance Advices (PDF) which can be sent to suppliers automatically by email, or printed for mailing
  • Maintains average days to pay by supplier
  • Bank statement reconciliation and reporting
  • Revaluation of foreign currency invoices at current spot rates of exchange
  • Automates retrieval of current spot rates from any standards-compliant currency information service
  • Automatic reconciliation of unrealized and realized foreign currency gains and losses upon full or partial payment
  • Automatic reconciliation of accrued input VAT liabilities and reclaimable input VAT amounts due from tax authorities
  • Online enquiry and summarization of invoices and payments made for a specific supplier
  • Electronic 1099 reporting (United States)

Fixed Assets

  • Asset Master with asset tag auto-identification capability
  • Supports multiple depreciation books and built-in depreciation methods including straight line; sum of the year’s digits; 125%, 150% or double declining balance to cross-over, fixed percent on declining balance, units of production, fixed percent of cost and fixed percent on declining balance to cross-over
  • User-definable depreciation formulas, rules and conventions for specific asset categories
  • Automated asset setup rules by asset category
  • Fully integrated with the GM-X Project subsystem to track assets under construction, and capitalize them when they are placed into service
  • Ability to transfer assets
  • Ability to split assets into one or more new assets
  • Asset disposal, individually or in groups
  • Fully integrated with the GM-X General Ledger, Accounts Payable, Accounts Receivable, Blockchain and Audit subsystems to automatically post asset acquisitions, depreciation, transfers, splits and disposals to each fiscal period
  • Extract Asset Master List to spreadsheet
  • Extract Depreciation Schedules and Projections to spreadsheet
  • Extract Fixed Asset Transaction Ledger, Reconciliation and Retirement Analysis to spreadsheet