With SAP Business One ERP, you are getting an integrated software system and management solution with finance and accounting capabilities.
Total Control of your Finance and Accounting
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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 multi-currency 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.
Brief System Overview of Finance and Accounting
- Financial management – Improve margins, reduce errors, and drive more profitable decision-making
- 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.
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Industries we Serve
Customers in 20+ Industries
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Industry Specific Solutions
Detailed Software Functionality of Finance and Accounting
With support for multiple currencies, budgeting, and bank reconciliation, SAP Business One delivers financial management functionality that enables your enterprise to be more efficient and more productive.
- Chart of accounts – Create and manage charts of accounts for any country using locally compliant templates, which you can adapt to fit your unique business needs. Define individual charts of up to 10 segments (or levels), if needed, to support your businesses processes and reporting requirements. You can create segmented charts of accounts that represent your departments, divisions, regions, branches, and so forth.
- Journal entries – Benefit from functionality that automatically posts journal entries from the sales, purchasing, and banking areas and also either manually or automatically creates new journal entries. You can search for existing entries and automatically allocate each transaction to a project or a profit center.
- Journal vouchers – Save multiple manual journal entries to a batch to review them before processing. This allows you to verify and correct postings if necessary before they are entered into the general ledger.
- Tax engine – The patented tax engine in SAP Business One has been designed to address a variety of complex tax requirements while maintaining a user friendly interface that can be maintained by your company’s tax professional. The tax engine has a high degree of configurability, allowing it to address known tax requirements in addition to future tax modifications.
- Posting templates – Define general ledger account templates to save time and help avoid mistakes during the manual posting of journal entries.
- Recurring postings – Define your own postings for regular execution in accounting and specify a frequency for each recurring posting. With recurring postings, the application automatically reminds you to post your transactions.
- Reversing journals – Reverse month end accruals automatically. By default, reversal of specified postings occurs on the first day of the next month, but SAP Business One allows users to specify a different reversing date for each posting, if desired.
- Exchange rate differences – Periodically evaluate your open items in foreign currencies to identify differences and choose the appropriate correction transaction.
- Banking – Track all banking processes, from cash receipts and check writing to deposits, advance payments, credit card payments, and account reconciliation.
- Budgets – Define and manage budgets against general ledger accounts. Configure budget allocation methods; define budget figures in any currency (local, foreign, or both); and display a summarized budget report that compares actual and planned figures. With SAP Business One, you can create an online alert that notifies you if a transaction exceeds the monthly or annual budgeted limit.
- Profit center – Define different profit centers or departments and allocate corresponding revenue and cost accounts to a predesignated profit center in the chart of accounts.
- Profit center report – Run a profit and loss statement based on revenues and costs – both direct and indirect – as defined in the allocation rules. You can run it for any profit center, choose between annual and monthly display formats, and compare the results with figures for the previous period.
- Distribution rules – Define different distribution rules to characterize business activities and then allocate revenue or cost accounts to the corresponding distribution rule.
- Fully integrated financials – Automate key financial and banking management activities with fully integrated functionality. When you run a transaction, the software automatically posts a journal entry in the general ledger so you don’t have to perform additional posting or batch processing.
- Quick drill down – Drill down to information at the posting level. For example, while viewing the journal entry for a sales transaction, you can drill down to see chart-of-accounts information.
- Complete chart of accounts – Drill down on the balance field to see transactions that make up a specific balance.
- Automated tasks – Accelerate month end closings by assigning tasks to individuals or creating reminders to manage various aspects of the closing via the activity window.
- Control accounts – Identify accounts as control accounts and assign them as default posting accounts for the increase or decrease to customer or vendor balances. This helps ensure synchronization between the general ledger and the subsidiary ledgers.
- Period-end closing – Use this feature to create specific postings in the accounting system when a posting period (or fiscal year) ends. You can transfer previous general-ledger account balances from one period to another.
- Crystal Reports – Quickly generate real-time financial reports in a variety of layouts and export them into formats that best meet your needs, including Adobe PDF, Microsoft Word, Microsoft Excel, and XML.
- Multi level reporting – Create reports that allow your data to be grouped and viewed at all levels. If you need to access lower-level detail, you can readily drill down all the way to the posting level detail directly from your report output.
- Integrated reports – Create advanced reports with integrated business information across financials, accounting, inventory, sales, and purchasing.
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