Name: M3 Accounting Core Software
Author: M3 Inc

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The M3 Accounting Core Software is a comprehensive accounting and financial solution specifically designed for the hospitality industry. According to the vendor, this software is tailored to meet the needs of hotels of all sizes and service levels, making it a valuable tool for hotel owners, management teams, general managers, and hoteliers in the hospitality industry.

## Key Features

**Tax & Reporting**: According to the vendor, the M3 Accounting Core Software includes a Report Writer that allows users to customize financial reports and visualize data based on their specific requirements. It also provides the ability to set predetermined tax rates for vendor invoices, ensuring accurate tax calculations for various tax types. Additionally, the software automatically generates 1099 and 1096 forms for US tax compliance. Users can import and export data for journal entries, checks, invoices, vendors, budgets, and historical data.

**Planning & Management**: The vendor claims that with the M3 Accounting Core Software, users can quickly set up budgets with key metrics and lock metrics for consistency. The software offers forecasting capabilities, allowing users to compare multiple forecasts across different periods. It also enables the tracking of construction project costs by associating journal entries and vendor invoices to each project. Moreover, the software enhances user security through customized user access groups and roles for specific modules, functions, and properties.

**Data Processing**: According to the vendor, the software facilitates efficient data processing by allowing users to customize daily reports through automatic management software for properties importing and daily report rollover. Its accounts payable module includes features like partial payment schedules, prepaying invoices to limit user error, managing multicurrency exchange rates, and handling recurring invoices. Users can also attach images and documents to vendor invoices and journal entries using intelligent document imaging. The general ledger and chart of accounts can be easily customized.

**Finance**: The vendor states that the M3 Accounting Core Software allows users to customize financial reports to display data as desired. It offers automation features for check writing, check layouts, vendor payments across multiple properties, ACH payments, checks, ePay, and virtual credit cards. The software also enables effective cash management across properties through cleared transactions and import reconciliation.

As the flagship product and the entry point to the M3 platform, the cloud-based Accounting Core provides a set of modules that streamline accounting functions for hoteliers. M3 can be used by hotel owners, management teams, and general managers access to an accurate snapshot across multiple properties improving efficiency and visibility to drive hotel financial performance.

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M3 Accounting Core Software

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Accounting software automates and streamlines financial management, from core functions like accounts payable and receivable to complex tasks like ledger management and reporting. They are aimed at enhancing accuracy, providing real-time financial insights, and ensuring compliance. Advanced systems integrate with other business tools, supporting everything from expense tracking to payroll. Explore user reviews and comparisons to find the best accounting software for your business.

M3 Inc

General Ledger and Configurable Accounting

Financial management solution, including capabilities for general ledger and configurable accounting

Accounts payable

This includes the automation and tracking of payment to vendors and suppliers, with features such as payment scheduling, check printing, open purchase order alerts, document management, direct ACH bill payment, and vendor records.

Accounts receivable

This includes the management and automation of invoices and collections, with features like statements, invoices, receipts, payment reminders, customer records, auto billing, and refund checks.

Cash management

The software provides a complete picture of a company’s cash flows, streamlines payment processing, and includes cash forecasting.

Bank reconciliation

The software connects to a company’s financial institutions in order to reconcile accounting records with checking, savings and credit card accounts. Often month and year closing capabilities are included.

Expense management

The software can log and track business expenses and reimbursements, including travel-related expenses, with the ability to tie them to particular projects.

Time tracking

The software can track billable and non-billable employee time by project.

Fixed asset management

This includes the ability to track fixed assets (e.g., laptops), including location, check-in and check-out, maintenance scheduling, audit history, specialized property tax period reports, cost and depreciation.

Multi-currency support

The software supports transactions across multiple currencies.

Multi-division support

The software is flexible and supports bookkeeping practices along multiple dimensions such as locations, branches or products.

Regulations compliance

The software helps users adhere to typical accounting standards and regulations such as IFRS, GASB, or GAAP.

Electronic tax filing

The software provides a full electronic interface for the filing of repeatable taxes, such as payroll or sales tax.

Self-service portal

The software provides online portals for certain stakeholders to find information relevant to them, such as employees, vendors and customers.

Global Financial Support

Account using multiple ledgers, multiple currencies, and multiple entities

Primary and Secondary Ledgers

Record and report across multiple currencies and accounting standards with primary and secondary ledgers

Intercompany Accounting

Automatically balance and reconcile GL for intercompany transactions

Localizations

Meet reporting requirements with country-specific localizations

Journals and Reconciliations

Automate and synchronize ledgers and processes

Enterprise Accounting

Create accounting for disconnected ERP and non-accounting source systems

Configurable Accounting

Configure accounting rules and segments for each chart of accounts

Centralized Rules Framework

Integrate disparate ERP and transactional systems into single ERP instance

Standardized Processes

Centralize financial management to facilitate standardized financial processes

Inventory Management

The ability to track and manage the flow of goods or materials into and out of an inventory.

Inventory tracking

The software syncs orders and stock to maintain a real-time picture of inventory and supports multiple methods such as LIFO and FIFO.

Automatic reordering

The software can be set up to automatically reorder a good when it falls below a certain threshold.

Location management

The software can track multiple goods across multiple locations.

Manufacturing module

The software helps track and manage raw materials, work-in-progress items, and finished goods.

Order Management

The ability to process orders, and track them from quote to cash.

Pricing

Users can set up complex and unique pricing requirements.

Order entry

Users can enter an order once, and the data flows to all the necessary units such as fulfillment and billing.

Credit card processing

The software facilitates credit card processing.

Cost of goods sold

The software calculates the direct costs attributable to a finished product, such as materials and labor, and includes roll-up pricing.

Order Orchestration

Define and execute order fulfillment processes for products as well as services on the same order.

End-to-end order visibility

Get updates on orders, inventory, shipments, planned supply, and invoices, and improve the quality of decisions through in-context analytics

Order exception Resolution

Monitor fulfillment tasks and resolve issues, view and evaluate varios options via what-if analysis and define and enforce change order rules

Payroll Management

Provides for pay calculation and benefit plan administration, in addition to managing direct deposit, salary revisions and payroll tracking.

Pay calculation

Pay calculation provides for computation of employee pay with state and federal deductions.

Benefit plan administration

Benefit plan administration is administration of health insurance plans and 401k plans, and other benefits.

Direct deposit files

Direct deposit is the ability to electronically transfer pay to an employee’s personal bank account.

Salary revision and increment management

Salary revision is the ability to modify individual employee pay.

Reimbursement management

Reimbursement management provides cash reimbursement for employee expenses related to business travel or other.

Reporting & Analytics

Users can report on and analyze usage, performance, ROI, and/or other metrics of success.

M3 Accounting Core Software

Overview

What is M3 Accounting Core Software?