Financial Management

Total control of your finances

Financial Management

SAP Business One provides a complete set of tools to help manage and streamline your financial operation. It automates everyday accounting tasks such as maintaining ledger and journal entries, supporting tax calculations, and enabling multicurrency transactions.

You can conduct all your banking activities – including processing bank statements and payments, as well as reconciling accounts. You can also manage cash flow, track budgets, and compare actuals versus plans to see where your business stands at a moment’s notice.

By integrating your financial operation in real time with other business processes, such as purchasing and sales, you can speed transactions and improve visibility into cash flow.

Accounting –

automatically handle all key accounting processes, such as journal entries, accounts receivable, and accounts payable.

Controlling –

accurately manage cash flow, track fixed assets, control budgets, and monitor project costs.

Simplified –

management of fixed assets, the virtual fixed asset function frees you from repetitive manual data entry.

Banking and reconciliation –

quickly process reconciliations, bank statements, and payments by various methods including checks, cash, and bank transfers.

Financial reporting and analysis –

create standard or customized reports from real-time data for business planning and audit reviews.

Financials Management with SAP Business One

Manage Accounting, Cash Flow ,and Banking Transactions
Integrated, Comprehensive Financials Management

As your business grows, so do the challenges associated with managing its financials. Without an integrated and automated financials management solution, increased business complexity can overwhelm your existing financial and accounting processes, giving rise to inefficiencies and inaccuracies that can lead to missed opportunities and lost revenue.

The SAP Business One application offers a complete and integrated set of tools to effectively manage and automate all of the accounting and financial processes in your growing company. As the core component of SAP Business One, financials management incorporates all key accounting processes, such as ledger and journal entries, accounts receivable, and accounts payable. The software automatically triggers accounting postings in real time when business transactions occur.

Accounting

SAP Business One handles all your accounting transactions effectively and comprehensively. You can use its complete chart-of-accounts templates as they are or customize them based on your business requirements. Chart-of-accounts templates consider specific legal requirements for each country, such as segmentation or specific numbering, and thereby help ensure compliance with local laws and regulations. The application supports multiple global financial reporting standards, currencies, and languages with 40 country-specific versions. For example, with SAP Business One, you can process and report transactions in multiple currencies including invoices, checks, statements, and much more.

SAP Business One integrates accounting journal entries and automatically updates them whenever relevant business transactions occur in the application. For example, a goods receipt posting will automatically create the necessary journal entry to adjust inventory levels and valuation as well as update corresponding expense accounts, if necessary. Any purchasing, sales, and inventory transactions in SAP Business One automatically trigger corresponding journal entries in real time without any additional manual entries or postings. For even greater efficiency, SAP Business One allows you to use recurring postings and posting templates for transactions that repeat from period to period, eliminating redundant tasks and potential mistakes. You can also use journal vouchers to create multiple journal entries and then process these vouchers in batch mode, posting all entries simultaneously.

Controlling (or Cost Accounting)

SAP Business One provides intuitive features and reports that let you effectively manage cash flow and profitability for your business. It helps you optimize liquidity by accurately forecasting your cash flow and cash requirements and by giving you the power to efficiently handle payment terms, customer reminders, and cash collections. For example, you can set up workflowbased alerts in SAP Business One that notify you of any pending payments that may affect the cash-flow conditions of your business. Use aging reports in SAP Business One to get an analysis of outstanding receivables and liabilities for both your customers and vendors, as well as how old the liability or receivable is. In addition, you can track customers who have not paid off their invoices, and you can generate automatic reminder letters depending on the extent of delay on the payment terms and the amount due.

With budgeting features in SAP Business One, you can set up budgets in any currency, using various budget allocation rules defined, and then accurately track expenses. To make sure you stay on track, SAP Business One provides alerts that inform users whenever a transaction exceeds a defined budget limit, or it simply allows them to block transactions.

Banking and Reconciliation

With the banking and reconciliation functionality in SAP Business One, you can automate and accelerate incoming and outgoing payments. The payment wizard allows you to clear multiple accounts receivable and accounts payable invoices in batch mode for checks and bank transfers. The payments are executed according to your selection criteria and payment methods (such as check, bank transfer, credit card, or cash), and then the journal entry transactions are automatically posted once the process is completed. With the bank statement processing feature of SAP Business One, you can also readily process external bank statements to generate incoming and outgoing payments and to reconcile your balance sheet accounts.

Powerful Financial Reporting

SAP Business One provides a wide range of financial reports, such as balance sheets, profit and loss statements, profitability reports, multiperiod comparisons, sales and purchasing analysis, aging reports, and budget reports. With interactive drill-downs and “drag and relate” functionalities, you can click through the relevant data and get answers you need quickly. Now that SAP Business One is fully integrated with Crystal Reports software, an industry-leading reporting solution, the reporting and analysis of your financial data is even simpler, with intuitive, easier-to-use features for report creation, customization, and distribution across the company.

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