Financial Accounting

SAP Business One's finance features handle all your financial transactions including general ledger, account set up and maintenance, journal entries, foreign currency adjustments and budgets.

Accounting

SAP Business One features a chart-of-accounts template for every country, which can be adapted to business requirements. This template can also be used to define individual charts of up to 10 segments if reporting needs require.

Journal entries

The solution allows users to create new journal entries and search for existing ones. Note that most journal entries are posted automatically from the sales, purchasing and banking areas. In addition, users can automatically allocate each transaction to a project or a profit centre.

Journal vouchers

Users can save multiple manual journal entries to a batch and process simultaneously. This allows verification and collection of postings before they are entered in the general ledger.

Posting templates

Users can define G/L account assignment models, which saves time and helps avoid mistakes during the manual posting of journal entries.

Recurring postings

Users can define their own postings for regular execution in accounting and specify a frequency for each recurring posting. In this case, the solution automatically reminds them to enter these postings.

Reversing journals

SAP Business One allows users to reverse month-end accruals postings automatically. By default, reversal of specified postings will occur on the first day of the following calendar month, but if necessary, users can specify a different reversing date for each posting.

Exchange rate differences

The solution lets users periodically evaluate their open items in foreign currencies, then identify differences and choose the appropriate correction transaction.

Financial report templates

Users can quickly and easily generate any number of financial report templates. This form lets them create templates for any purpose, such as additional profit-and-loss statements.

Budgets

This feature helps users define and manage multiple budgets against accounts. Users can configure budget allocation methods, define budget figures in any currency (local, foreign or both), and display a summarised budget report that compares actual and planned figures. In addition, users can define an on-line alert that notifies them whenever a transaction exceeds a monthly or annual budget.

Define profit centre

This function allows users to define different profit centres or departments. Users can allocate the corresponding revenue and cost accounts to a pre-defined profit centre in the chart-of-accounts.

Define distribution rules

Based on defined costs and experience, users can define different distribution rules to characterise business activities, and then allocate a revenue or cost account to the corresponding distribution rule.

Table for profit centres and distribution rules

This function allows users to display profit centres and distribution rules in table form. All figures are displayed clearly and can be adjusted as necessary. Users can also define additional profit centres and distribution rules here. Once all cost factors have been defined, the system automatically allocates them to the individual cost centres in each transaction, giving rapid access to detailed cost information.

Profit centre report

This profit-and-loss statement is based on revenues and costs - both direct and indirect - as defined in the allocation rules, and it can be run for any profit centre. Users can choose between annual and monthly display format and compare the results with figures for the previous period.