ERP release notes - Andrew on Multibook

Andrew Corral: [00:00:00] Hi there. My name's Andrew Corral. I'm PM at Everest. I've been delivering ERP for about eight years now. And what we've been working on these past few releases is to make Everest not only a system of record, but a system where you transact. And we're doing that by enabling features like our multi-book accounting platform support, which will give you the ability to have your international accounting teams using Everest along with usability features like smart controls on top of things like our close checklist. So let's jump in.

Andrew Corral: Okay you're expanding internationally to Europe, Germany, the UK, France, and you're asking, how do I actually manage this in my ERP?

What often happens is that as companies scale internationally they need multiple accounting systems because their primary system doesn't actually support those international accounting standards.

 Now in Everest, you've got your multi-book set up here. So I have my U.S. GAAP book for both Atlas Inc. And Atlas, GMBH. This is my shared primary accounting book. And then I also have my HGB accounting book. What that means is that when I have my everyday transactions, like my vendor bills

for [00:01:00] Germany, I have one vendor bill, but I have two accounting entries, one for my HGB ledger. This is what my German accountants will look at and see. And then one for my U.S. GAAP ledger which is what my U.S. accountants and the consolidation team will look at and see.

We have to hear from accountants that one of their biggest problems is auditing their own ERPs and understanding what happened when it happened why it happened.

 Now in Everest, we've added the transaction history to all of our procure-to-pay objects, bills, expenses, payments, credit card entries,

which allows you to see what user made what transactions, what they added to it, if they did edits, and all those details that you as an accounting team need to feel confident that you have a full and complete picture of your ERP.

Another thing that we're hearing a lot from accountants is how they still spend a lot of time actually managing close outside of their ERP, and the reason for that is that they don't actually have a full close checklist in the system.

So as of release 52 in Everest, we have released our close checklist in beta. And what this gives you the ability to do is to have all of our system closed [00:02:00] tasks, the AP close tasks, the revenue closed tasks,

along with the ability to add your manual tasks as well that you know you need to do every month as a part of that close process.

And that's it. So thanks for following along. Hope you enjoyed this update. Please tell us what your biggest pains are in your ERP today. And how Everest can address them.