Discover our comprehensive portfolio of end-to-end solutions.
Through technology, we provide advanced solutions to meet the current and future challenges of organizations.
August 05, 2022
Accounting and Financial Management Tools in SAP Business One
SAP Business One is an all-in-one ERP solution. The solution has a range of powerful financial management tools to control and automate all of your key accounting processes. This helps growing SMEs simplify and streamline everyday accounting and financial management tasks.
There are more than 70,000 SMEs globally whose finance teams rely on SAP Business One daily to manage, control, and track critical operations. The systematic nature of the solution is guaranteed to help you reduce inefficiencies in your finance team. You can automate standard processes and remove data duplication by managing your accounts at the click of a button.
Financial Management tools in SAP Business One
Unlike other solutions where add-ons are required to complete everyday SME tasks, SAP Business One comes complete with a range of powerful, out-of-the-box functionality for users to manage tasks powerfully. Here’s a selection of what’s included:
Accounting
- Predefined or customizable chart of accounts templates
- Easily complete accounting transactions, such as journal entries and recurring posting
- Process multiple currencies for accounts payable and accounts receivable
- Generate new balance sheets and monitor your profit/loss alongside other reports
- Simplify fixed asset management
Cost Accounting
- Create, monitor, and manage budgets across your business
- Automate customer reminders for outstanding invoices and take payments
- Control, monitor, and manage direct and indirect expenses
- Track revenues for multiple cost centers, branches, or external business units
- Set distribution configuration for automated revenue and expense allocation
- Monitor fixed asset depreciation via multiple methods
Banking and Reconciliation
- Process cash, cheque, electronic bank transfer, and credit control payments
- Complete bank statements and automatic reconciliation of ledgers
- Track and control multiple accounts receivable and automatically pay batch invoices
- Generate payment reports
SAP Business One Financial Reports
One of the critical drivers of upgrading to SAP Business One is having the ability to manage all aspects of your business within a centralized solution. You no longer have to juggle data between disparate solutions, which makes reporting difficult, time-consuming, and often inaccurate.
Because all of your data is stored centrally in a single database – effectively providing one version of the ‘truth’ - your finance teams will be able to streamline the time spent on month-end closing and quickly generate important managerial reports.
With this accurate insight at your fingertips, you’ll be able to answer the questions your business is asking and make more informed decisions to drive profits with real-time dashboards and reports helping you make informed decisions.
Share
LEARN MORE ABOUT SAP BUSINESS ONE
CHECK OUT OUR BLOG
August 01, 2022
7 Things You Didn't Know About SAP Business One's Sales Features
With inventories, accounts, and supply chains to consider, it's easy to underappreciate the value of CRM and sales features in an ERP system. Nevertheless, the sales features included in SAP Business One simplify key processes to track and streamline production planning, inventory and logistics, billing, CRM, and seeking new opportunities.