Markit WSO Accounting is the most efficient way to populate a company’s accounting system. By creating debit and credit journal entries of all activity within Markit WSO Administrator, cash can be mapped to a specific general ledger using one of over 100 unique transaction types. In addition, backdated, changed or deleted activity is automatically adjusted and the appropriate journal entries are created to account for these changes. Custom extracts can be formatted to feed any general ledger package that accepts a feed of journal entries.
The journal entries generated by Markit WSO Accounting are a combination of data resulting from Markit WSO Administrator transactions and Markit WSO Reporting calculations. General ledger accounts used in Markit WSO Accounting are usually the same as accounts previously established in a company’s legacy accounting platform. Because the mapping of activity is customisable, all transactions can be quickly tracked for a specified time period.
All this creates a seamless integration between Markit WSO and a third party accounting package, enabling clients to manage their portfolios more effectively.