FINANCIALS

The financials module deals with processing budgets, revenues and expenses from projects, properties or assets. You can set up an account code hierarchy, define budgets codes and set up your VAT rates. Invoices or purchase orders can be approved and you can assign account codes to the individual items for posting to the general ledger. You can export the information to an accounting system or use built in tools to create a balance and profit and loss statement.

The module can be configured for each user group by setting access rights to fields and functions. You can also define your own processes for modifying or creating data by defining custom workflows. Specific functions for your organization can be implemented on request. The standard functions of this module include:

Account codes: You can specify a hierarchy of account codes. You can also define if an account code is an asset, liability, revenue or expense.

Exchange rates: All money amounts can be entered in local currency units and are converted using the most recent exchange rate. Historical exchange rates can be stored.

Tax: This enables you to define a list of names and percentages for VAT that are used in all modules.

Budgets: You can manage multiple budgets such as an annual operating budget and various project budgets. For each budget item you can track the actuals versus plan.

Opportunities: Revenue opportunities can be tracked per customer. You can enter the order amount, chance of success, expected decision date and commissions to resellers. This way you can quickly get an estimate of the sales pipeline per customer, partner and account manager.

Quotations: You can create quotations and send quotions per email. The status of outstanding quotations can be viewed online and special workflows for quotation processing can be implemented.

Invoices: All invoices from the various modules can be collected and approved for payment. The invoice amount can be posted to one or more debit and credit accounts in a particular general ledger.

Purchase orders: The purchase orders from the various modules are collected and can be approved. Each purchase order can be assigned to a budget and budget item so that the committed amounts can be updated.

Bank: You can define one or more cash or bank accounts and enter the transactions. For each transaction you can define a credit and debit account code.

Transactions: You can get an overview of all general ledger transactions originating from invoices, cash or bank transactions. Optionally you can split the total amount of a transaction over multiple accounts.

P & L: A profit and loss overview can be generated from the revenues and expenses that have been posted to the ledger.

Balance: After posting all invoices and cash and bank transactions you can create a balance sheet.

Workflow: You can define custom workflows within the financials module, for instance to approve purchase orders or payment of invoices.

Internet: Employees and project managers can track the status of purchase order and invoices online. You can even let your suppliers submit invoices online to avoid paperwork.

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