SAP Business One Financial Accounting

Financial Accounting

SAP Business One delivers the tools and reporting capacity you need to manage your company's finances effectively and according to Generally Accepted Accounting Principles. SAP Business One can bring your financial accounting to a new level of automation:

  • Real-time, really. Every time you add (or post) a transaction, your general ledger is updated. No need to batch journal entries for later posting - unless that's what you want to do.
  • Financial accounting – Handle all your financial transactions – including general ledger, journal entries, budgeting, and account setup and maintenance – in one system, with comprehensive tools and reports.
  • Budgeting – Manage budget creation, allocation, and distribution. Provide budget tracking, reporting, and alerts that notify the responsible users whenever a transaction exceeds a monthly or annual budget limit.
  • Banking – Track all banking processes such as cash receipts, check writing, deposits, advance payments, credit card payments, and account reconciliation.
  • Financial reporting – Provide easy-to-use financial reports, including balance sheets, profit and loss statements, cash flow analysis, transaction reports, multi-period comparisons, and budget reports.
  • Automatic journal entries. Perhaps the largest productivity boost in SAP Business One is its ability to create various journal entries automatically - greatly reducing the need to make journal entries or corrections manually.
  • Drill-down functionality. SAP Business One gives you the ability to drill down using the orange navigation arrows, not only to the general ledger but all the way to the source documents of a transaction - another powerful labour- and time-saving feature.
  • Task automation. You can automate redundant tasks by using recurring postings and avoid posting mistakes by using posting templates.
  • Data integrity. To prevent users from posting manual journal entries to certain accounts, you can set up control accounts. In addition, alerts help you manage expenses by informing you when expenses reach their budget threshold.
  • Audit trail. SAP Business One provides a complete audit trail, allowing you to track who made changes to all data or documents - and when.

The key to making the most of the finance and accounting features in SAP Business One is careful design and implementation to make sure that every part of the application precisely describes and tracks the way your business works. Of course, most companies come to SAP Business One with a well-established chart of accounts (and other financial accounting methods) as well as legacy databases of customers, vendors, and transactions. Working with your implementation partner, you translate and migrate the way your business works into SAP Business One.

Call Hunter Systems today on tel: 0845 372 7007, or email: info@hslsoft.com or use the Contact Form to discuss your company’s IT/Software requirements, or explore our website to find out more about Hunter Systems, our products and services and why you should choose us.