Business First has five proprietary patents that differentiate it from all other accounting and financial software in the marketplace - giving our customers a comprehensive customized financial & accounting tool that simplifies their lives while delivering GAAP approved reports.
PATENT #8055560
AP Vouchers (Bills) can be entered with detail lines from Multiple Companies. The system will automatically look at the detail lines of the voucher and adjust Accounts Payable for each company to accurately report on the Balance Sheet. When the Voucher is paid, the Check will come out of one bank account, Accounts Payable will be reduced for each company, and pairs of Due To/Due From entries will be made to keep each company Balance Sheet accurate.
PATENT #8055559
AR Invoices can be entered with detail lines from Multiple Companies. The system will automatically look at the detail lines of the invoice and adjust Accounts Receivable for each company to accurately report on the Balance Sheet. When money comes in to pay the AR Invoice, the system will deposit the money into the bank account of one company, reduce the AR for each company, and add pairs of Due To/Due From entries to keep each company Balance Sheet accurate.
PATENT #8762233
Our GL Account is used to track The Natural Account, Company Segment and any set of Managerial Business/Personal Segments that the owner wants to track. Examples of Business Segments are Region, Office, Department, and Event. Few other systems allow you to track Managerial Segments. Our patent allows our GL Account structure to change as your business changes: segments can be added or removed, and accounts can be merged or split based on other criteria. For example, an Office may change Regions at the start of a fiscal year.
PATENT #8204803
Our Financial Reporting for Income Statement and Balance Sheet can drill on every number in the report. Any number can show more granular detail based on the Managerial segments in the General Ledger structure.
PATENT #8150745
The system will automatically add Multi Company Due To/Due From entries to a multi-company Journal. The system will automatically balance the entry so it keeps the assets and liabilities in balance with each company.
