Gravity’s Version 5.1 Includes Advanced Financial Reporting Functionality
Gravity Software (Gravity), a robust mid-market cloud accounting solution announced its latest release, Version 5.1 of its popular application. Two of the major updates include the addition of Multi-Currency management and enhanced Multi-Entity Reporting.
“We are excited to introduce Gravity Software v.5.1, with enhancements to meet the growing needs for companies around the world,” said John Silvani, President & CEO of Gravity. “We will continue to position Gravity as the number one cloud-based accounting solution for companies that have outgrown entry level applications like QuickBooks and Xero.”
Gravity v.5.1’s key major enhancements include:
- Multi-Currency – End users have the ability to set up Multi-Currency at three different levels. They can setup a single organizational currency for consolidations, a base currency for each company, and transact in different currencies. For example, they can receive a vendor invoice in a currency different than the entity’s base currency and Gravity automatically handles all the currency conversions.
- Enhanced Multi-Entity Accounting
- Entity Groups can now be created and used in reporting and master files security (customer, vendor, etc.)
- Entities can be assigned to one or more groups. You can select an Entity Group and the report will include all of the entities in the group.
- Enhanced Advanced Financial Reporting
- Dimensions can now be used as filters on ADFS rows.
- Multiple entities can be grouped under a common name and used in reporting by just selecting the group.
Gravity’s big claim to fame is the consolidation of multiple entities in just one database, on just one platform. Built on the Microsoft Power Platform (aka Dynamics 365), users can scale up and down, add additional modules based on their operational needs, and much more.
“80% of our clients came from QuickBooks and the remaining from legacy accounting apps,” said Silvani, “This software update release provides better efficiencies for businesses that are managing multiple entities and need to transact in different currencies. Gravity helps companies that truly want a robust cloud-based accounting solution at an affordable price.”