Finance is no more merely a book-keeping function. It is a tool of strategic management and is key for ensuring that all parts of the organization function efficiently. As companies grow, their concerns about multiple locations, multiple business segments, multiple countries and tax or regulatory environments, multiple methods of book keeping, varied accounting periods and currencies, and yet 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.
ebizframe ERP Finance Module is at the heart of our powerful Enterprise Resource Planning software. It offers superb, best of breed functionality for all businesses, whether small or very large and in any area of business activity such as Manufacturing, Trading, Services and Governments. ebizframe Finance offers amazing ease of use and flexibility for users along with tight managerial controls and versatile reporting ability.
ebizframe ERP Software for Finance includes General Ledger, Accounts Receivable, Accounts Payable, Budgeting, Planning and Forecasting, Fixed Assets, Costing as well as Management Accounting. A comprehensive tax functionality which addresses diverse needs of various countries forms a part of ebizframe.
Supports intra-currency transactions – User can do an invoice/PO in one currency and receive/release payment in a different currency (both of these could be different from the local currency) or a combination of different currencies with auto adjustments in the FE Fluctuation Account.
ebizframe allows user-defined formats of number, currency and date in the system.
Multilevel Cost/Profit and Business Centre definition – You can create “n” levels of Cost/Profit and Business Centres in ebizframe, Mapping of Chart of Account to existing Chart of Account in legacy system is also supported. The system allows user-defined accounts heads. User can also Activate or Deactivate an account or group for a defined time frame. Defining the type of balance as well as calculation logic is also supported. Users can define zero decimal points.
ebizframe ERP supports Voucher Templates. Park and Post Feature, Flexible Voucher Numbering and Single Point Entry for all types of vouchers is supported in ebizframe ERP. Automatic round-off entries and Narration facility for vouchers for adding any extra information is also available.
Highly Flexible Tax Definition and Application is possible in ebizframe.
Budgeting, Planning and Forecasting – Budgets can be defined both from “top-down” and “bottom-up” approaches. KRA linking with budget is also supported. Additionally, Graphical Representation of budget distribution is available in the system.
Costing: Costing of Raw Material/Finished Goods based on multiple costing methods like LIFO, FIFO, Weighted Average, etc. is an available feature in ebizframe. The material costing is an integral part of ebizframe Finance module in erp software and it ensures that the information flows seamlessly from various business functions of ebizframe ERP in Finance.
Bank Reconciliation: ebizframe supports Manual Reconciliation and also the import of Bank statements is available in electronic formats.
Cheque Printing: Cheque printing of any format can be managed from the system, integration with electronic bank statement is possible. Multiple cheque/draft entry in a single voucher and bulk generation of payable vouchers/cheques is allowed in the system.
Attach Scanned Documents: In workflows, users can attach scanned documents in, as proof of transactions.
ebizframe supports IFRS Formats: IFRS formats are available for reporting, as per the Company law.
Ease of Use
The accounting function involves a very large amount of data entry. One of our key considerations while developing ebizframe ERP Software for Finance was on making data entry as easy and fast as possible. Ease of use is a salient aspect of this module. In all transactions where users create documents such as Vouchers, Purchase Orders, Sales Orders, users can create that document in multiple iterations without worrying about debit and credit match. Only when this document is submitted in a workflow for approval, the software will check for various validations including debit credit match at that point and point out any mismatch.
For creating a voucher which has a large number of line items, users can create them whenever convenient, and even leave a document half done through the Draft Saving functionality in ebizframe ERP Finance Module. For some businesses where financial documents may run into hundreds of line items, this functionality adds tremendous convenience.
Frequently made documents can be created once and saved as Templates for subsequent use, reducing repeated effort hugely. Users can copy an existing voucher and make the required changes to further reduce effort.
For key transactions and documents like Vouchers, PO, SO, Bills of Material (BoM), the facility is given to export data directly from Excel. All these functionalities in ebizframe Finance Module have reduced data entry effort and time of our customers by as much as 60-70 % in many cases.
The Finance Dashboard enables the Finance Management team to monitor key parameters based on the usage rights assigned to them. Business performance reflected through well thought-out graphs and charts can be viewed conveniently merely by logging into the system. KPIs which get updated automatically help monitor business closely. All such key visualizations of data can be drilled right down to the transaction level.
ebizframe ERP Finance reporting is highly flexible and can be configured to suit multiple MIS as well as regulatory environments. This leads to huge savings of effort for statutory reporting. Suitable and user defined alerts generated by the system ensure that such compliance is managed in a timely and effective manner.
All reports are highly parameterized to ensure that users can generate relevant data without having to search for relevant information in huge data sets. For further ease of use, favourite reports can be saved by users, and these reports can get updated for relevant time periods, again adding hugely to information availability with least effort.
Drill down at MIS level to ascertain 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 company’s hierarchy, facility of Subsidiary Ledgers are valued features of ebizframe ERP Finance Software.
Flexible Ageing Buckets for Accounts Payable as well as Accounts Receivable can be defined by users in ebizframe. They don’t have to follow standard buckets such as 30/ 60/ 90 days, users can define their own data buckets.
Users can define multiple lines of Cost/Profit/Business Centre. The allocation can be done with the same equated method or through manually entered values.
Users can define a maximum budget for each posting cycle or at a desired frequency based on which you can plan and affect payments to your creditors in one go. The rest of the book-keeping function is performed by ebizframe Finance.
The system also has a robust PDC validation feature.
In addition to this ebizframe Finance also presents a flexible BRS page where at one page itself; you can carry out a multitude of transactions. On one single page you can upload your statements in ebizframe that come up and automatically resolve those statements against bank statements by downloading the bank statements in certain format and uploading in ebizframe finance module in erp . At one glance you can look at bank balance and outstanding bank balance of your un-posted instruments.
The system also supports reversal of the vouchers, if needed. Adjustment lines if any e.g. payment voucher or procurement voucher automatically gets reversed against automate. Complete forward and backward resolution of any transaction lines that happen in our system is possible.
ebizframe ERP Finance also provides option to the users to enter provisional voucher based on which the provisional balance sheet and P&L can be generated for review. These provisional entries can later be reversed.
Highly flexible tax definition and application is possible in ebizframe ERP Financial Systems. The software allows defining taxes and also grouping of taxes. The Tax rules in the system use the Services Oriented Architecture which means if the same tax rule is to be applied to other documents also, it can be done with ease and without errors creeping in.