Priority's compliance capabilities are based on the characteristics of any solid financial statement: clarity, relevance, reliability and comparability, making it a key tool for companies aspiring to financial regulatory compliance and control.

  • Support for GAAP, AICPA, FASB and SEC compliance
  • Revenue recognition in line with customer contracts to facilitate compliance with SOP 81-1, SOP 97-2, SOP 98-9, SAB 101, EITF 00-21, EITF 08-01 and EITF 09-03 regulations
  • Full audit trail of journal entries and logging of permitted changes (History of Changes log), all with system-generated time and user stamping
  • Automated allocation and burdening
  • Amortization schedules for pre-paid expenses (insurance, rent, etc.)
  • Direct generation of invoices from sales orders
  • Automatic, rule-based account and bank reconciliation (no sub-ledgers), using system-generated correction/adjustment entries (for currency and other minor discrepancies)

We continually monitor and keep up with changing compliance standards such as SOX, IFRS and GAAP.