Finance apart from being accounting fuctions proves to be the backbone for every organization. It is the supplemnt that ensures all parts of the organization function efficiently. Africa is a group of countries where industrial financial systems are needed to be improved immensely. The organizations lacking sufficient financial applications to rotate and manage their financial investments can get help from some enterprise managment solution which would pivot the money ready for expenditure to specific sections of the company.
Companies with their concerns about multiple business segments, multiple locations, multiple entities and tax or regulatory environments, multiple procedures of book keeping, various accounting periods and currencies, and also maintaining control and having a full view of distributed operations becomes critical. Critical financial information which reaches decision makers pro-actively becomes a powerful management mechanism. ERPHUT provides an amazing enterprise resource planning software developed especially for catering financial needs.
The software includes General Ledger, Fixed Assets, Accounts Receivable, Accounts Payable, Budgeting, Planning and Forecasting, Costing as well as Accounting Management. A composite tax calculating properties which addresses assorted needs of various countries forms a part of ERPHUT Finance.
Supports intra-currency transactions – ERPHUT Finance provides facility to users in creating a PO/invoice in one currency and receive/release the payment in another currency or an amalgation of different currencies with self-adjustments in the FE Fluctuation Account. The system gives function for user-defined formats of number, currency and date in the system.
Multilevel Cost/Profit and Business Centre definition – ERPHUT gives facility to create “n” levels of Cost/Profit and Business Centres. Mapping Account Chart to existing Chart of Account in legacy system is also supported. The system permits user-defined accounts. Account activation and deactivation of a use or group can be done for a time-period. Defining the type of balance as well as calculation logic is also supported. Users can define zero decimal points.
It supports Templates of Vouchers along with Park and Post Feature, Flexible Voucher Numbering and Single Point Entry for all kinds of vouchers Automatic round-off entries and Narration facility for vouchers for adding any extra information is also available. Tax Definition and Application is also possible in the software.
Budgeting, Planning and Forecasting– Budgets can be defined in “top-down” and “bottom-up” manners. It also supports KRA linking with budget. Graphical Representation of budget distribution is also available in the software.
Costing- The software features of multiple costing methods like LIFO, FIFO, Weighted Average where Costing of Raw Material/Finished Goods can be calculated. Material costing is an integral part of ERPHUT Finance and it assures that the information must flow seamlessly from various business functions.
Bank Reconciliation- The software allows Manual Reconciliation and also importing of Bank statements is achievable in electronic formats.
Cheque Printing- Cheque printing of any format integrated with electronic bank statement can be managed from the system. Multiple cheque/draft entry in a single voucher and the bulk generation of payable vouchers/cheques is permissible in the system.
Attach Scanned Documents- In workprocess, users can attach scanned documents in as proof of transaction documents.
IFRS Formats- IFRS formats are available for reporting according to the Company law.
Ease of Use-
The accounting of an organization includes a lot of data entry. One of our key contemplations while developing ERPHUT Finance was on making data accession as simple and quick as it could be. Ease of use is a notable part of this module. In all transactions where clients make records, for example, Vouchers, Purchase Orders, Deals Orders, consumers can make that archive in different versions without agonizing over match of debit and credit. Just when this archive is submitted in a work process for approval, the product will check for different approvals including charge credit match by then and point out any confound.
For making a voucher which has countless line items, clients can make them at whenever they want, and even leave a report half done through the Draft Saving function in ERPHUT Finance Module. For a few organizations where finance related records may keep running into several details, this functions includes enormous comfort.
Much of the time made archives can be made once and spared as Formats for resulting use, diminishing rehashed exertion colossally. Clients can duplicate a current voucher and roll out the obliged improvements to advance decrease exertion.
For key exchanges and archives like Vouchers, PO, In this way, Bills of Material (BoM), the office is given to fare information straightforwardly from Exceed expectations. Every one of these functionalities in ERPHUT Money Module have diminished information section exertion and time of our clients by as much as 60-70 % as a rule.
Finance Dashboard integrated in ERPHUT Finance enables the Finance team of an organization to track key parameters based on the usage rights assigned to users. Once you login the system, user can see and obtain Business performance through well thought-out graphs and charts . KPIs which get automatically updated help in monitoring business closely. All such key visualizations of data can be drilled right down to the transaction level.
ERPHUT Finance reporting is exceptionally changeable and can be arranged to accomodate various MIS and additionally regulatory situations. This prompts gigantic reserve funds of exertion for statutory reporting. Reasonable and user defined alerts produced by the framework guarantee that such consistence is overseen in a convenient and powerful way.
All reports are profoundly parameterized to guarantee that users can create important information without searching for applicable data in enormous database. For further ease of use, regular reports can be spared by users, and these reports can get overhauled for relevant time periods, again adding immensely to information availability with an ease.
Drill down at MIS level to confirm budget over-runs/under-runs, Trial Balance, Cash/Fund Flow, P&L, Balance Sheet generation, Balance Sheet with posted vouchers only or with posted and unposted vouchers, consolidated report at any level in the hierarchy of the company, amenity of Subsidiary Ledgers are valued features of ERPHUT Finance.
Adaptable Ageing Buckets for Accounts Payable as well as Accounts Receivable can be characterized by users in ERPHUT. They don’t need to take after standard buckets, for example, 30/60/90 days, users can define their own particular buckets of data.
Users can create numerous lines of Cost/Profit/Business Centre. The assignment should be possible with the equated strategy or through physically entered values.
Users can define a greatest budget for every posting cycle or at a desirable recurrence taking into account which you can plan and influence payments to your creditors in one go. Remaining accounting tasks are performed by ERPHUT Finance. The system has a strong PDC validation module.
ERPHUT Finance also displays an adaptable BRS page where you can do a huge number of exchanges at one page itself. On one single page you can put your statements in ERPHUT Finance that come up and naturally resolve those statements against bank statements by downloading the bank details in certain organization and uploading in ERPHUT.
The system also supports volte-face of the vouchers, if required. If any Adjustment lines e.g. procurement voucher or payment voucher automatically gets turnaround against automat. Complete forward and backward of any transaction lines that happen in our framework is possible.
ERPHUT Finance also offers alternatives to the users to enter provisional voucher with which the provisional balance sheet and P&L can be created for review.
ERPHUT Finance gives highly flexible tax definition and application. The system allows definition of taxes and their grouping as welld. The Tax rules in the system utilize the Services Oriented Architecture which states if the same tax rule is needed to be applied on other documents also, it can be done with ease and without any errors and hassle.