Financial Management for Made2Manage ERP
General Ledger Module
The general ledger integrates monetary flow from every aspect of your business and controls financial activities. Information from the general ledger is linked to the accounts receivable, accounts payable, payroll and order costing functions, which are sub-ledgers. Daily postings in these sub-ledgers can be made immediately or on a delayed basis. Since information is shared across all functional areas within the Made2Manage Enterprise Business System, you can significantly reduce manual journal entries. M2M ERP makes your general ledger accurate and precise by enabling you to:
- Easily close periods and keep your accounts up-to-date.
- Have full control over which transactions post automatically and which are posted manually.
- Distribute plant-wide expenses to departments or cost centers automatically.
- Plan budgets, account for sub-ledger transactions, and report on financials.
- Review transactions using more than a dozen reports.
Accounts Payable Module
M2M ERP accounts payable keeps track of which suppliers you owe, how much you owe them, and when payments are due. You can even prioritize your suppliers based on negotiated terms and pay them accordingly. M2M ERP accounts payable helps you to:
- Pay your suppliers at just the right time.
- Scan a full set of reports for accounts payable performance analysis.
- Customize accounts payable to fit your unique business needs.
- Post new invoices to one or more shipments from a supplier and/or separate purchase order.
Accounts Receivable Module
M2M ERP accounts receivable automates much of the invoicing process by being tightly integrated with M2M ERP Sales and Production. After an order ships, the system queues accounts receivable to issue an invoice. M2M ERP automatically transfers information from the shipper and sales order to the invoice, saving you time by eliminating duplicate data entry tasks. M2M ERP accounts receivable allows you to:
- Automate the invoicing process so that you can stay on top of billing.
- Use full accounts receivable analysis tools for tracking and assessing revenue streams.
- Set up your invoices so they match the way you do business.
- Customize your invoices with important messages to your customers.
Budgeting and Cash Flow Module
Budgeting and forecasting cash inflow and outflow enables your managers to prepare forecasts and let you plan for future cash needs. M2M ERP helps you easily predict investment opportunities or future cash deficiencies, giving you the information you need to make critical business decisions. Greatly reduce the risk of bank overdrafts and last-minute loans with M2M ERP cash flow projection tools. M2M ERP helps manage your budget and cash flow, so that you can effectively:
- Budget based upon many different sources with flexible and configurable applications.
- Export to and import from Microsoft Excel spreadsheets.
- Select cash flow inputs and quickly adjust to output derivations, including existing data, actual averages, what-if values, weighted average and user-defined values.
- Choose from many reports, including a forecast template and line item calculations.
- Save multiple forecasts so you can compare current cash flows with past and future accounting periods.
Bank Reconciliation Module
To assist you in managing your cash flow, M2M ERP includes the Bank Reconciliation feature, which gives you the ability to monitor all of your checking account transactions within the Made2Manage system.
To streamline your cash management operations, the Bank Reconciliation feature allows you to indicate “cleared” checks, create deposit records and clear deposits in the system.
In addition, you can easily reconcile the differences between cash accounts and bank statements for transactions appearing on the bank statement that have yet to be recorded in M2M ERP. The Bank Reconciliation feature gives you the ability to:
- Monitor all transactions within a checking account inside M2M ERP.
- Create, track and clear checking account deposits in the system.
- Track which checks have cleared your checking account.
- Reconcile bank statements and checking accounts with M2M ERP.
Advanced Reporting Module
M2M Advanced Reporting suite is the industry-leading solution for enterprise report-writing and drill-down analysis, providing quick access to the necessary data you need to make critical business decisions. Easily create reports using both financial and operational data with complete drill-down to source document capability in any report.
Because of its simple point-and-click setup, writing reports has never been easier. No need to understand complex database tables or cryptic field names. Field names are translated into plain English and database tables are linked right out of the box. M2M Advanced Reporting uses the look and feel of a standard spreadsheet to make learning simple.
With the M2M Advanced Reporting suite, users can:
- Drill down to source documents in any report.
- Import budget data from Excel spreadsheets.
- Consolidate multi-company financials and perform multi-currency rollups easily.
- Create dashboards with multiple reports and graphs on one screen with full drill-drown capability from each graph.
- Package a group of reports together with simple point-and-click functionality.
Specifically, the M2M Advanced Reporting suite supports financial or operational report creation.
Financial Reporting — Allows users to easily create any type of financial report with simple point-and-click procedures, while requiring no additional formulas or IT assistance to retrieve data from the General Ledger.
From a financial reporting perspective, M2M Advanced Reporting has the following features:
- Effortless report template creation
- Double-click balance source
- Advanced security
- Painless consolidations
- Straightforward business intelligence Dashboards and reports
- Seamless spreadsheet connection
Operational Reporting — Retrieves data from multiple tables and makes them intelligible, thus allowing users to produce the necessary operational reports just as easily as creating a standard spreadsheet.
From an operational reporting perspective, M2M Advanced Reporting has the following features:
- Easy report creation
- Detailed reports
- Business intelligence reports
- Dynamic data analysis
- Dashboards and report packets
- Drilldown details
Multi Site Manufacturing Module
The Multi Site Manufacturing feature in Made2Manage helps you manage multiple finished good warehouses, distribution centers, storage facilities, and/or manufacturing plants at virtual facilities or geographically separate facilities. For better execution across multiple operations, the Multi Site Manufacturing feature provides you with visibility into inventory, supply and demand, order costing, and inventory valuation by facility.
Keeping track of information by site location is accomplished by utilizing a unique facility identifier for each facility. The facility identifier makes it possible to enter and store quotes, sales orders, demand forecasts and safety stock, inventory, job orders, sub-assemblies, purchase orders, and shipping and receiving transactions by facility. Information on items/ parts (including the BOMs and routings) as well as calendar and capacity data within Made2Manage can also be entered and stored by facility.
To plan and execute the movement of material between facilities, Made2Manage offers a new inter-facility order mechanism. Similar to a purchase order, you can use inter-facility supply orders to document your receiving facility’s plan to acquire material. In turn, your shipping facility can use an inter-facility demand order, much like a sales order to account for demand. Shipments are made against the inter-facility demand order while received goods are acquired against the matching inter-facility supply order. What’s more, you can easily add and carry multiple shippers and receivers for inter-facility supply and demand orders to transfer materials among your facilities.
Manage financials for separate profit centers with Multi Site Manufacturing. Multi Site supports revenue, inventory and cost accounting functions for separate facilities. You can capture data on revenue, cost of goods sold (COGS), cost variance, work in process (WIP), and inventory accounts by product class and facility. To post figures to a specific facility account or accounts, just select the appropriate facility identifiers in your transactions.
- Manage multiple finished good warehouses, distribution centers, storage facilities, and/or manufacturing plants at geographically separate facilities or virtual facilities.
- Track quotes, sales orders, demand, inventory, jobs, purchasing, and shipping and receiving by facility.
- Plan and execute movements of material between facilities.
- Account for individual profit centers at separate facilities.
Payroll Assistant Module
Made2Manage Payroll Assistant provides a flexible, efficient and user-friendly workforce management solution to collect and control your payroll data. Where shop floor data collection focuses on job costing and operations reporting for direct labor employees, Made2Manage Payroll Assistant focuses on collecting critical payroll information for all employees
Made2Manage Payroll Assistant handles complex payroll formulas and rules that the core Made2Manage™ ERP does not currently address, such as shift differentials, jury duty, and vacations. Payroll processing that used to take days can now be done in hours, even within an environment where payroll data must be collected from multiple locations.
Made2Manage Payroll Assistant can be implemented as a standalone application or integrated with Made2Manage Shop Floor Data Collection — giving you complete labor reporting and payroll collection solution for your entire workforce. When fully integrated with Made2Manage Shop Floor Data Collection, Made2Manage Payroll Assistant automates the collection, calculation and preparation of payroll data, thus increasing the efficiency of your operation by reducing the errors that can occur in a traditional paper-based time keeping system.
End users will easily adopt the system, as it utilizes familiar windows and pull-down menus. The security features limit access to authorized personnel only and allow customization of the access levels. The security features also limit employee information available to a user, according to shifts and departments.
Made2Manage Payroll Assistant offers a special “Agency Time Card” detail report to simplify calculation and reporting of weekly hours for agency employees. Supervisors can easily verify the hours of both regular and agency employees.
Made2Manage Payroll Assistant can calculate hours based on the schedules that you create, and you can provide unique shift definitions or prepare global scheduling.
The “Lost Time Codes” report gives your company the option to set up a Merit/De-Merit program. This unique feature can track lost time and indicate whether that time was paid or unpaid. You have the flexibility to assign codes and a point value system as they pertain to your employees or business.
Made2Manage Payroll Assistant provides several reports:
• Daily Labor
• Early/Late by Employee and by Department
• Missed Punches
• Punch Logs
• Time Card Detail
• Agency Time Card Detail
• Hours by Week
• File Listing
• Monthly Attendance
• Lost Time by Department/Employee
• Vacation Summary by Department/Employee
• Weekly Hours Exception
• Daily Missed Punches
• Daily Punch Exception
• Weekly Schedule
Progress Billing Module
To manage the billing process for larger capital equipment jobs and/or projects with longer lead times, M2M ERP offers progress billing. With progress billing, you can divide a bill into separate increments and still be able to track the whole process, report and invoice. In addition, the progress billing feature allows you to:
- Generate needed cash flow without having to recognize revenue or perform work-arounds within the normal billing system.
- Choose how to bill customers based on periodic schedules, time and material usage or percentage complete.
- Select between unearned revenue and revenue accounts, based on company requirements.
- Indicate on a sales order which items will require progress billing.
- Process invoices as either earned or unearned revenue based on your accounting practices.