Accounting Financial Management 2017-09-01T19:23:03+00:00

Accounting Financial Management

Total control of your finances with SAP Business One

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SAP Business One Accounting Financial Management

Accounting Financial Management

Accounting 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 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.

  • 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.

Accounting Financial Management Overview

Integrated, comprehensive financial management

As your small business or midsize company grows, so does the complexity of managing its financials. While accounting-only software may have helped you get started, you need software that can take your business to the next level, automating everyday financial tasks and integrating them with other business processes. That software is available – in the SAP Business One application.

You need an integrated solution to streamline all of the accounting and financial processes in your growing company, including accounts receivable, accounts payable, and posting of ledger and journal entries and recurring entries. As your business expands, the solution must grow with you.

It should support automatic tax calculations as well as multi-currency transactions. It should help you manage cash flow and fixed assets, track budgets, and compare actual and planned figures to give you an accurate picture of your business. It should offer powerful reports and data visualizations in dashboards. And it should be accessible anytime and anywhere from your favorite mobile device.

Powered by SAP HANA, SAP Business One provides a reliable, integrated solution to streamline your financial operations, resulting in faster transaction processing and improved cash flow. Flexible and adaptable, the software is available on premise or in the cloud – the choice is yours.

Capture all your financial information in a single, scalable solution

The month-end closing process is crucial to all organizations. The goal is to compile accurate financial statements that management can use to make business decisions. SAP Business One accelerates the month-end close by automating business activities, thereby increasing efficiencies and reducing errors. You have quick access to real-time, reliable financial information, which further reduces the time it takes to close your books at the end of every period.

SAP Business One automatically calculates taxes, such as sales tax, value-added tax, and withholding tax, for each line item on each transaction, taking into account country-specific allocation and reporting requirements. With automated computation and reporting of tax processes, you can comply fully with the legal requirements of each country where you do business.

Streamline reconciliations, bank statements, and payments

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. Payments are executed according to your selection criteria and payment method, such as check, bank transfer, credit card, or cash, and then journal entry transactions are posted automatically once the process is completed.

You can process external bank statements to generate incoming and outgoing payments and to reconcile your balance sheet accounts. In addition, you can use a reconciliation engine to match payments that are not reconciled automatically, such as payments made “on account,” by opening items either automatically or manually and filtering by general ledger account or by business partner.

Realize bottom-line benefits with an integrated solution

SAP Business One is a comprehensive, integrated solution that helps streamline your financial operations. You can:

  • Accelerate transactions and improve cash flow by automating your everyday financial tasks and integrating them in real time with other business processes, such as purchasing and sales
  • Get an accurate picture of your business with better cash flow management, and stay on top of actual versus planned figures with budget tracking
  • Maintain control of your fixed assets throughout their lifecycle
  • Enhance the efficiency and accuracy of credit card collections and bank reconciliations through direct, online connections with financial institutions
  • Compile up-to-date financial statements to support business decision making by reducing the time it takes to close your books at the end of every period
  • Comply swiftly and fully with the legal requirements of each country where you do business
  • Meet your company’s fiscal responsibilities by streamlining the computation, payment, and reporting of taxes
  • Satisfy the financial analysis and reporting requirements of your business and make better top-level strategic decisions with powerful analytics

SAP Business One Benefits

Simplify your accounting and financial processes and make more profitable decisions with comprehensive financial management tools.

Capture all your financial information in a single, scalable solution

Manage cash flow, track assets, and control budgets

Accelerate month-end close and enhance compliance

Streamline reconciliations, bank statements, and payments

Transform business planning and audits with sharper insight

Simplify management of multiple branches or business units

Maintain end-to-end control of your company’s fixed assets

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Accounting Financial Management Quick Facts