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Cetec ERP

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Financial Management for Cetec ERP

Accounts Payable Module

  • Direct integration with material receipts and outsource POs for accuracy and reconciliation
  • Automatic identification of invoices to be paid
  • Easily view all PO receipts of material that have been received into stock but not yet billed (receipt transaction: DB inventory / CR Accrued Liabilities; voucher transaction: DB Accrued Liabilities / CR Accounts Payable
  • Automated voucher process leveraging three-way match (between PO, receipt, and bill)
  • Voucher workflow/approvals — configurable voucher approvals process to manage A/P clerical voucher entry versus voucher approval and payment processing. Voucher is entered by A/P clerk, system attempts three-way match (between PO, receipt, and invoice) to unlock approval, if no match then voucher is manually or automatically queued via Workflow to Accounting mgmt for approval, approval unlocks ability to pay down voucher. Workflow configuration exists to either always explicitly require voucher approval, or to never require it.
  • Aging reports based on due date and/or invoice date
  • Automatic segmentation of intercompany activities from trade payables
  • Automatic transactions across ledger from voucher to payment to check run
  • Ability to track true invoice dates
  • Ability to process non-inventory, outsourcing, and/or service invoices
  • Process all payment types (credit card, wire, ACH, system check, paper check, cash)
  • Print checks directly from system on blank check stock
  • Check runs and batch printing from check register
  • Bank reconcile across all payments
  • Bank account reconciliation statement import
  • Credit card transaction import
  • Manage system generated debit memos, vendor prepayments, credit card payments to vendors

Accounts Receivable Module

  • Process credit card prepayments and standard payments directly within ERP (via Bluepay)
  • Prepayments — automatically create a cash transaction in your journal, and create unapplied cash” against the customer account who is prepaying. For invoices that were prepaid, the associated unapplied cash will apply to the invoice payment automatically upon invoicing of the order.
  • Credit risk management through credit lines, terms, & holds
  • Auto-post sales invoices to A/R immediately
  • Manage customer terms and credit hold
  • Track aging across account statements
  • Customer payment history for research and credit ratings
  • Lump payments across multiple customers into deposits
  • Defined process for payments, deposits, and reconciliation against bank statements
  • Aging Reports based on Due Date and/or Invoice Date with automated customer statements
  • Manage system generated unapplied cash, short payments, credit memos
  • Defined RMA process including process flow for issuing credit memos (RMA, Warranty, etc)

Bank Reconcile & Credit Card Import Module

  • Automated bank reconcile process: import transactions and match to existing transactions in the system. All imported transactions that are unmatched will have to be manually matched, or the system transaction will possibly have to be created. Once all transactions are matched the linked system transactions will be set to Reconciled. 
  • Credit card transaction import — Import credit card transactions and process A/P in batch as part of voucher process.

Configurable Costing Methods Module

  • Actual / FIFO Costing — Cetec ERP supports and recommends an actual costing methodology, whereby COGS postings pull from the actual value of any receipts of material that were consumed against the invoice transaction.
  • Average costing — Cetec ERP supports the average costing methodology, whereby COGS postings pull from material average cost to drive the value on the transaction as opposed to the actual receipt cost of material consumed on an invoice. Cetec ERP will also simply track the average cost value of parts per inventory warehouse location, irrespective of whether or not that value is used to post to the G/L at invoicing.
  • Standard Costing — Cetec ERP supports standard costing methodology and automatic purchase price variance posting to the journal and respective financial reports between standard cost and purchase order receipt cost (at time of receipt of product) and standard cost and actual material invoice cost (at time of invoicing).

Financial Reporting (Multi Site/Company) Module

  • Run financial reports in real time, or across any historical period of time, including:
  • ¦ Profit and loss statement
  • ¦ Balance sheet
  • ¦ Statement of cash flows
  • ¦ Tax reports
  • ¦ Inventory valuation
  • Multi-site consolidated financial reporting (e.g. Profit and Loss, Balance Sheet, etc.) for transactions per individual site or warehouse location, or consolidate up all sites into single financial reports.
  • Multi-company financials — consolidate financial data across multiple different companies or financial entities into a single reporting instance.

General Accounting Module

  • Full integration with business operations means no redundant data entry and fewer mistakes
  • Comprehensive support for standard costing, average costing, actual costing, FIFO costing — based on customer preference.
  • Budgeting module — enter monthly budget values and report period values, differences, and difference percentages month to month or YTD
  • Multi-currency support with home currency for general ledger and configurable transaction conversions based on daily peg per exchange rate
  • Run standard reconcile processes, e.g. absorption rates, accrual postings, retained earnings, transaction details to ledger value, inventory reconcile, A/P reconcile, A/R reconcile, bank account reconciliation, credit card statement reconcile, etc.
  • Foreign currency & exchange rates — select any home currency” that will drive your general ledger and primary financials; this will be the default currency for your transaction, and will also represent the currency symbol used by default across the system. Then, set up any number of separate currencies; any active currencies you set up will appear in select boxes for you to choose from when performing transactions. Exchange rates may be defined for any active currency you have; Cetec ERP runs an automatic daily peg to update those exchange rates per the global exchange rate database.

General Ledger Module

  • Operational transactions map to ledger entries to general ledger accounts. Account mappings are maintainable by admin users
  • Ledger updates are real time based on operational transactions (e.g. inventory adjustments, invoices, payments, etc.)
  • Visible and editable ledger entries
  • Automatically log backdated ledger entries for auditability
  • Tag ledger entries to identify and categorize custom types of entries/transactions to the journal
  • Easily filter journal entries by account, transaction type, date range, tag, and more
  • Add/edit/delete G/L accounts with appropriate permissions
  • Perpetual based ledger: close period for specific groups, A/R, A/P, Cash, G/L
  • Customer credit terms/hold — integrated management of customer terms and credit hold; credit risk management through credit lines, terms, & holds
  • RMAs — robust and integrated RMA module to handle returns, refunds, rework, repairs, and replacements. Tie RMAs to source invoices or issue one-off RMAs.

Project Accounting Module

Track time to projects to drive time tracking and costing against projects; update status of projects on the fly; link invoices against billing schedules to drive percentage completion revenue recognition in accounting.

Tax Management Module

Set up taxing authorities and tax groupings; combine authorities and groups to reflect real-life taxing responsibilities. Track taxes by customer ship-to addresses, in addition to tax hierarchies that transfer to taxable/non-taxable quotes, orders, invoices. For taxable transactions, the system will check FOB codes to see if they are marked as Taxable at Ship Point”.

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