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16 August 2022
Accounting and Financial Management tools in SAP Business One.
There comes a time in any small business when basic financial software can no longer keep up with the pace of your business. If you’re looking to move away from tools such as Xero, Quickbooks or Sage Intact, here’s how the powerful accounting and financial management tools in SAP Business One can help.
SAP Business One is an all-in-one ERP solution. The solution has a range of powerful financial management tools to control and automate all of your key accounting processes. These are proven to help growing SMEs simplify and streamline everyday accounting and financial management tasks.
There are more than 70,000 SMEs globally whose finance teams rely on SAP Business One daily to manage, control and track critical operations. The systematic nature of the solution is guaranteed to help you reduce inefficiencies in your finance team. You can automate common processes and remove data duplication by managing your accounts at the click of a button.
Financial Management tools in SAP Business One
Unlike other solutions where add-ons are required to complete everyday SME tasks, SAP Business One comes complete with a range of powerful, out-of-the-box functionality for users to manage tasks powerfully. Here’s a selection of what’s included:
Accounting
- Predefined or customisable chart of accounts templates
- Easily complete accounting transactions, such as journal entries and recurring posting
- Process multiple currencies for accounts payable and accounts receivable
- Generate new balance sheets and monitor your profit/loss alongside other reports
- Simplify fixed asset management
Cost Accounting
- Create, monitor and manage budgets across your business
- Automate customer reminders for outstanding invoices and take payments
- Control, monitor, and manage direct and indirect expenses
- Track revenues for multiple cost centres, branches or external business units
- Set distribution configuration for automated revenue and expense allocation
- Monitor fixed asset depreciation via multiple methods
Banking and Reconciliation
- Process cash, cheque, electronic bank transfer and credit control payments
- Complete bank statements and automatic reconciliation of ledgers
- Track and control multiple accounts receivable and automatically pay batch invoices
- Generate payment reports
SAP Business One Financial Reports
One of the critical drivers of upgrading to SAP Business One is having the ability to manage all aspects of your business within a centralised solution. You no longer have to juggle data between disparate solutions, which makes reporting difficult, time-consuming and often inaccurate.
Because all of your data is stored centrally in a single database – effectively providing one version of the ‘truth’ - your finance teams will be able to streamline the time spent on month-end closing and quickly generate important managerial reports.
With this accurate insight at your fingertips, you’ll be able to answer the questions your business is asking and make more informed decisions to drive profits with real-time dashboards and reports helping you make more informed decisions.
SAP Business One Demo
Want to see the powerful accounting and financial management tools in SAP Business One for yourself? Get your team together, and one of our B1 experts will show you a demonstration of all of the tools included. Get in touch with SEIDOR today, or if you'd like to speak to one of our team, please send us an email to arrange a demo.
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