SAP Business One

Accounting and Financials

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

Journal entries - The application allows users to create new journal entries and search for existing ones. (Note: 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 center.

Journal vouchers - Users can save multiple manual journal entries to a batch and process simultaneously, which allows verification and correct postings before they are entered in the general ledger.

Posting templates - Users can define general ledger 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 - The application 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 application lets users periodically evaluate their open items in foreign currencies, then identify differences and choose the appropriate correction transaction.

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

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

Define profit center - This function allows users to define different profit centers or departments. Users can allocate the corresponding revenue and cost accounts to a predefined profit center in the chart of accounts.

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

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

Profit center 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 center. Users can choose between annual and monthly display format and compare the results with figures for the previous period.