SAP Business One Financial Accounting

Financial Accounting  tools and reports can be used for all financial processes.  It includes the following features.

Chart of Accounts used to delineate all company accounts and  their hierarchical relationships.

Journal entries permit manual journal records to be entered or located, with the ability to assign each transaction to a project or profit center automatically. 

Transaction templates save time and avoid errors that occur when journal entries are made manually. 

Recurrent journal transactions used to create individualized sets of repeated transactions, that can  also automate frequency reminders.

Exchange rate differences reconciles any disparities between foreign currency accounts and the domestic currency.

Trial balance report lists account balances and transactions.  Financial reports can be displayed in any given currency and with greater or lesser detail, as appropriate.   

Profit and Loss Report contains income and expenses in the format used by accountants. 

Balance sheet uses the format followed by accountant to list assets and liabilities.  

Comparative reports creates reports containing comparisons of any desired periods including, but not limited to, months, quarters, years, or any other time frame.

Budget produces and monitors budgets.  Budget summaries compare real and planned numbers in whichever currency you choose.

Financial reports contains a design feature that can be used to generate as many financial report templates as an organization needs.   

Controlling has a number of automated features for cost center supervision.  They are listed below.

Profit centers are used to keep records for an organization’s profit centers and/or departments.  The Chart of Accounts allows income or expenses to be associated with a predefined profit center or department directly. 

Overhead absorption factors create the allocation factors that describe a company’s business activities.  These can include business area, employee division, or income ratio.

Profit centers  and overhead factors table uses a table to list all profit centers and absorption factors so that numbers can be seen and adjusted readily.  New centers and factors can be created. 

Profit centers report consists of a managerial profit and loss statement for each profit center based on all of its direct and indirect revenues and expenses; predefined absorption factors are used.  Items can be displayed by the month or year and compared with figures from the previous year.     

Project costing can allot all revenue and expenditure for a project so that project costs can be evaluated.