Financial Management System

ERP Financial Management System

The system should include features that support the creation of interim reports as well as closing month-end, quarter-end and year-end reports.

Financial and accounting management system in Focus ERP software

Focus ERP comes with a reliable accounting module along with powerful and comprehensive financial management tools. The accounting module allows you to efficiently manage your finances in compliance with tax regulations and provide financial analyzes for each business unit. With its integrated functionality, Financial Controller helps monitor all transactions with real-time notifications. It also generates alerts for sales managers to manage cash flow when orders are generated.

Features of Focus ERP financial management module:

• The possibility of real-time management of financial affairs, the improvement of cost accounting and the possibility of defining a budget
• No need to keep Excel files and paper files
• Ability to integrate with production, sales, shipping, management, accounts and billing

With Focus Softnet’s financial module, you can say goodbye to the tedious and time-consuming consolidation of financial statements as the reporting system generates it automatically and customizable.

Features of Focus ERP financial software:

Advanced financial reporting

Programmable reports covering all financial aspects.

Multi-currency

Multi-Currency Support Multi-currency international access, with updated accurate exchange rates

Credit control system

Credit control by setting payment terms and recurring automatic invoices

Accounts receivable and payable

Effective control of receivables and payables accounts, consumer rating, supplier rating and simplifying bank operations.

Focus ERP financial management module

To succeed in today’s competitive environment, companies need to innovate, develop and deliver high-quality products that meet the complex needs of businesses in society. The global market is constantly evolving and the 21st century has been a turning point in the financial sphere. Today, information technology-based solutions help companies to work in the best way and increase their efficiency.

Focus ERP software is designed with a set of useful and reliable solutions that facilitate the tasks of the financial unit of organizations.

Focus ERP financial management software sub-modules

1. General accounting

• Receive consistent reports of all transactions registered in the system according to the classification
• The possibility of reporting transactions registered according to IFRS, GAAP and…
• Supporting currency accounting (at unit/branch level) according to the defined base rate and receiving the relevant report
• The possibility of defining cost centers in order to allocate overhead costs according to the accounting headings
• The possibility of defining the year and multiple financial periods in order to register the opening and closing documents
• Support accounting operations of branches, registration of inter-company transactions and commercial holdings

2. Liquidity management

• The possibility of automatic reconciliation by entering bank statement information into the system
• Management and definition of multiple currency units for bank account and fund
• Integrating the cash flow calendar with overdue payments and receipts with automatic reminders and recording the time and due date of each check, the ability to remind and also display the relevant account balances
• Displaying the cash flow calendar on a daily and monthly basis

3. Accounts receivable

• Management of currency profit and loss statement and automatic sending of relevant documents and receipts
• Registration and control of invoices according to the selected FIFO methods, invoice due date and…
• Managing the receipt of funds from customers by maintaining and updating the basic information of customers and their grouping
• Registration of advance receipts and issuance of automatic financial document referring to sales orders or purchases made by customers

4. Financial planning and budgeting

• It is possible to define a comprehensive budget according to last year’s performance and actual performance and adjusted budget
• The possibility of budget planning according to cost centers and units in each organization
• Exercising detailed control and checking the actual performance of defined budgets and setting limits, warnings, notifications, etc.
• Checking the defined budget through the cash flow calendar to compare the actual conditions with the budget plan trend according to the coverage percentage

5. Accounts Payable

• Management of receipt and payment, registration of salary and registration of issuance of automatic document of salary expenses and control of the performance of the payee and adjustment of payable invoices based on their due dates.
• Management of currency profit and loss statement and automatic sending of relevant payment documents
• Automatic calculation of the amount of withholding tax / value added and other tax calculations and deductions
• The possibility of preparing reports related to liquidity, received documents and paid documents

6. Benefits

• The integration of the financial module in all departments and its connection with other units
• Increasing internal controls according to the policies defined in the organization
• The absence of discrepancies between the accounting documents based on the flow of operations defined in the instrument