Thanks for this session. It helped me see how we might use prophix to speed up some of our closes. Our initial priority has been consolidated budgeting and reporting, but recently our property management office asked if Prophix might help speed up their close process, which is actually 85 different closings each month since each property is under its own ownership. I’m looking forward to making use of the different steps here in our own environment.
I really appreciated the design approach for eliminations. I’ll need to mull this over a bit more before I truly “get it” but I can see how it will address a elimination issue we need to reflect when we consolidate books from multiple companies.
Question about journal entries. The concept is a big vague to me. Is the point to craft the JEs and get the Prophix reports to tie out, thereby identifying the JEs required to post to the accounting system? Seems to me that once I then post the JEs in our accounting system, that data will then flow into Prophix, causing them to be double counted. What am I missing? What’s the benefit of doing this first in Prophix?
