Finance Under Complete Control – The Foundation of Your Success
Modern business management hinges on financial precision. Maintaining accurate and up-to-date accounting records isn’t just a statutory requirement; it’s, first and foremost, a strategic tool for monitoring your organisation’s health in real-time. SolutionsInc is advanced accounting software that integrates all financial processes, eliminating the need for manual spreadsheet efforts and minimising reliance on complex audit procedures. With SolutionsInc, your ERP system transforms into an intelligent financial management hub, seamlessly connecting with modules such as inventory, manufacturing, human resources, and other key areas.
Key Elements of the SolutionsInc Financial Module:
- Flexible Chart of Accounts System
- Central General Ledger
- Efficient Management of Payables and Receivables
- Comprehensive Tax Handling and Compliance
- Cost Centres, Analytical Dimensions, and Budgeting
- Transparent Financial Statements
- Fixed Asset Management
- Streamlined Account Reconciliation
- Support for Multi-Company and Multi-Currency Structures
Flexible Chart of Accounts System
At the heart of precise accounting lies a well-organised Chart of Accounts (CoA). SolutionsInc provides an exceptionally flexible and configurable Chart of Accounts, which perfectly adapts to the specifics of any business, regardless of its complexity or industry. The intuitive tree view allows for the hierarchical arrangement of ledger accounts into parent and child nodes, simplifying the categorisation of financial data and enabling in-depth analysis. Additionally, SolutionsInc supports consolidation accounting for multiple entities and offers full multi-currency capabilities, making it an indispensable tool for globally operating enterprises. This versatility ensures not only superior financial analysis but also clear financial insights and streamlined management across all business units.
Central General Ledger: The Heart of Your Finances
The General Ledger (GL) serves as the primary and most vital source for all financial information. In SolutionsInc, every approved financial transaction, regardless of its origin – be it from the inventory module, manufacturing, or directly from accounting – is automatically and instantly posted to the GL. This guarantees the creation of a comprehensive and perpetually updated financial record, which serves as the foundation for all reports. The GL module allows for detailed drill-down into every single transaction, enabling the verification of its financial impact on the company. Need deeper insights? Aggregate ledger data for specific clients to determine total receivables, or analyse finances in a chosen presentation currency for international transactions – all directly accessible within the General Ledger.
Efficient Management of Payables and Receivables
A company’s financial fluidity depends on the efficient management of what it is owed and what it owes. SolutionsInc offers an advanced and integrated system for managing Accounts Payable (AP) and Accounts Receivable (AR). The Payables module enables precise tracking of supplier invoices, scheduling payment dates, and effective liability management. Concurrently, the Receivables module streamlines invoice creation and dispatch, accurate payment tracking, and managing customer payments. Thanks to ageing reports, flexible credit limit management, and multi-currency support, SolutionsInc ensures timely collections and settlement of obligations, directly improving financial efficiency and maintaining healthy cash reserves.
Comprehensive Tax Handling and Compliance
Ensuring compliance with dynamically changing tax regulations is a challenge for any enterprise. SolutionsInc simplifies this process by enabling easy definition and management of tax accounts directly within the Chart of Accounts. The system’s flexibility allows businesses operating in various jurisdictions to seamlessly manage VAT, Consumption Tax, GST, and other specific tax types. Minimise manual errors in tax settlements through automated fetching of appropriate tax accounts using configurable sales and purchase tax templates. Even when processing hundreds of items, SolutionsInc guarantees accurate tax application by automatically linking items with their respective tax accounts. For complex e-invoicing requirements, SolutionsInc is ready to meet the challenge – we offer the possibility of utilising available localisation solutions or integrating with regional government portals via our flexible API interfaces.
Cost Centres, Analytical Dimensions, and Budgeting
For a deeper understanding of profitability and cost control, SolutionsInc leverages Cost Centres and Analytical Dimensions. These powerful tools allow you to track profitability for individual business units, sales channels (e.g., online, offline), or projects, while maintaining an organised Chart of Accounts structure. By precisely tagging transactions with these dimensions, detailed profitability reports are automatically generated, providing valuable insights. Additionally, SolutionsInc’s budgeting module enables you to define and monitor budgets for specific costs and dimensions, with the option to split them into monthly allocations. This effectively prevents overspending, ensuring better financial control and maintaining financial discipline, which is crucial for stable business growth.
Transparent Financial Statements: Insight into Company Health
SolutionsInc provides businesses with instant access to comprehensive real-time financial statements, enabling swift and informed decision-making based on precise data. The system offers all key reports, such as the General Ledger (GL), Trial Balance (TB), Balance Sheet (BS), Profit & Loss Statement (P&L), and Cash Flow Statements. Furthermore, available liquidity ratio reports and key financial performance indicators (KPIs) provide even deeper insights into the company’s true financial health. All these reports are fully customisable and exportable, allowing businesses to tailor financial analyses to their unique needs. By delivering up-to-date financial data in a clear and structured format, SolutionsInc enables enterprises to effectively analyse trends, accurately forecast financial performance, and maintain a competitive edge in the decision-making process.
Fixed Asset Management
Fixed assets represent a crucial long-term investment for any company, often appreciating in value over the years. With SolutionsInc, you maintain a comprehensive and automatically updated Asset Register along with an automated depreciation schedule. The system allows you to track the entire asset lifecycle – from acquisition, through usage, to disposal or resale – with fully integrated ledger postings. Ensure compliance with international depreciation standards by utilising built-in methods such as Written Down Value, Straight Line, and Double Declining Balance. Manage fixed assets effortlessly while maintaining the highest financial precision and optimising their value.
Streamlined Account Reconciliation
Gaining a clear and accurate view of all payables and receivables is vital for financial control. SolutionsInc offers an intuitive Payment Reconciliation Tool, which allows for efficient matching of unreconciled inflows and outflows to appropriate, open invoices. Simply import your bank statement, and the system will seamlessly assist in matching transactions using reference numbers and other data. Streamline the entire reconciliation process by precisely linking payment entries with bank statements using the Bank Reconciliation Tool, saving time and minimising errors.
Support for Multi-Company and Multi-Currency Structures
Consolidating financial data from multiple business units into a single ERP system can be a costly and complex endeavour for corporate groups. SolutionsInc solves this by enabling seamless management of multiple companies operating in different regions, all within one unified SolutionsInc account. Easily generate inter-company sales and purchase transactions, ready for use straight out-of-the-box. SolutionsInc’s robust General Ledger system accurately records account balances in both each company’s base currency and the accounting ledger’s currency, ensuring reliable precision. Generate General Ledger reports for clients and suppliers in their local currencies, enhancing clarity and significantly streamlining collection processes.
The SolutionsInc financial module is a solid foundation that allows any business to gain complete control over its finances, maintain regulatory compliance, and make informed decisions based on reliable, up-to-date data.
