Financial Management

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Financial Management for Automotive Industry

Fixed Asset Management

This particular functionality is meant to help users acquire an overview of all fixed assets and provide correct periodic depreciation. The system is also meant to help users manage insurance policies, and maintenance costs related to fixed assets, post fixed asset transaction, and generate varying statistics and reports.

Through the system, you may acquire the ability to perform calculations on a number of depreciation books simultaneously, and then use them for various business processes. This includes tax reporting under country laws, or internal financial reporting to the headquarters of the organization.

Human Resource Management

Human Resources happens to be a fully integrated application area that is meant to give users the ability to register and update employee related personal information. The following features are offered by the application:
  • Employee cards that contain extensive information about employees in a single place
  • Absence registration
  • Grounds for termination
  • Employment contracts
  • Reports related to employees
  • Confidential information

Taxation Management

You may use the system to conduct automatic calculations of VAT amounts for sales, purchases and imports. Users can run all of the vital VAT related reports, wherein individual tax areas can be set up for individual customers and vendors. The performed calculations will possibly assist in the calculation of use tax and tax on tax.

There are four different methods of VAT calculations that are followed by the system:

  • Normal VAT calculations
  • Reverse Charge VAT
  • Full VAT
  • Sales VAT

Bank Account Management

The bank account functionality basically makes it possible for countless bank accounts to be managed. This can be done in not just local, but foreign currencies as well. Additionally, you will be empowered for the reconciliation of bank accounts within the system with the bank’s statements. This way, you will be in the position to keep an eye on all bank statements and run through basic bank reconciliations.

Multicompany Management & Consolidation

Consolidation is a term that is used to signify the combination of the financial statements of two or more separate companies or subsidiaries into a single consolidated financial statement. The basic functionality of this features presents a solid consolidation report that can help in the determination of the total financial situation that will impact the entire group.

Multiple Currency Management

The system allows for users to manage multiple currencies. This includes sales and purchases, resource and inventory items, bank accounts, and general ledger reports. Currency conversion is easily performed as per the exchange rates stored and maintained within a specified currency rate list. A history of exchange rates can also be saved so that fluctuations over any given time period can be tracked.

Organizations also acquire the ability to transact business in a variety of currencies for any given vendor or customer. For instance, companies may issue an invoice in a certain currency, and in turn accept payments for that particular invoice in a different currency.

Accounting Management & General Ledger

When it comes to the General Ledger, it is meant for financial information to be posted, summarized and then finally reported. Varying business documents are basically used for the creation of General Ledger entries. These are typically inclusive of purchase invoices that are supposed to be produced after each business transaction. We will make it possible for you to gain immediate access to G/L or General Ledger accounts as well as balances. Please bear in mind that the G/L Budgets features has the potential to make comparisons amidst actual amounts and budgeted amounts

Financial Budgeting & Forecasting

A budget is one of the most vital tools for companies these days. It is used in business intelligence to perform a measurement of the actual financial operation of the business versus the forecasts made. Function allows you to work with a number of budgets. These are inclusive of:

  • Financial
  • Purchase
  • Sales
  • Project or item

Cash Management

Cash management is meant to be used for the management of the organization’s bank accounts. All of the company’s bank details are contained in the Bank Account Card feature. Here’s what the users can do on the Bank Account Card:

  • Process any and all payments that are received from customers
  • Annul a check
  • Process payments that are to be made to vendors