The Financial Management system handles the organization's accounting transactions, operations, and reporting. It supports multiple business standards, which are equipped with comprehensive reporting and auditing tools. The system contains a full cycle of accounting processes along with comprehensive facilities for automating a back-office.
The Financial Management system includes:
- General Ledger
- Budgeting
- Accounts Payables
- Accounts Receivables
- Reporting
- Administration
The Financial Management System excels through the following features:
- Define accounts and cost centers trees with unlimited number of levels.
- Dual-entry system, automatic transfer of journals, creation of journals and cancellation capability.
- Budget definition, budget per cost center with the ability to segregate it into accounts and periods with an enable\disable functionality.
- Budget validation with the ability to validate each transaction against the defined budget.
- Creation of purchase invoices, with the ability to schedule their payments.
- Ability to define payments with different payment methods.
- Issuance, withdrawal, and cancellation of payment Cheques.
- Transfers, employees’ loans, and settlements management.
- Receipts and receivable Cheques' management.
- Large set of financial reports, (i.e. statements, balances, comparisons, suppliers, Cheques, transfers, receipts, financial statuses, and others).
- Financial calendars management and fiscal years management.