abas Cloud | Financial Summary

Financial Summary

The Financial Accounting capabilities in abas Cloud ERP system provides complete visibility into the financial data and cash flow of manufacturing businesses. The financial accounting module offers an extensive range of individualized reports for deeper financial analysis and effective planning.

The Financial Accounting module fully integrates with abas Cloud ERP solution giving users a clear overview of all financial transactions. Gain the ability to drill down to original transactions quickly for deep insights of the business’s financial health. Access data from several fiscal years and generate monthly comparisons using legacy data. Post bank statements automatically.

The chart of accounts included in abas Cloud ERP solution’s financial management module comes ready to go with standard account assignments for ease of installation purposes. The chart of accounts may also be modified and expanded to accommodate the individual needs of each business.

The following features are incorporated into abas Cloud ERP Financial Accounting module:

  • Tax Codes — Numerous tax periods and tax codes can be defined as needed.  One multi tax code can be used for several tax rates and is calculated on an assessment basis.

  • Data Access — All tax-related data (tax codes, sales tax, various types of tax entries, etc.) can be quickly viewed in a single, editable overview.

  • Multiple Books — Up to five sets of books with different accounting rules can be defined according to specific needs.

  • Automatic Entries —  Entries are generated automatically for payments, purchasing and sales, materials, etc. eliminating the need for redundant entries.

  • Recurring Entries — Schedule whether recurring entries are repeated monthly, quarterly, or annually based on specified criteria.

  • Multiple Currencies — Manage books in multiple foreign currencies.

  • Reminders — Reminders can be sent in multiple languages and are automatically archived to provide current processing status.

  • Integrated Cash Management — Supports short-term liquidity by managing all outstanding items.