Financial Management 

The financial management functionality provided by Compiere is designed to minimize manual data input on behalf of the user, thereby freeing them from tedious, routine tasks and allowing greater focus on other, more value added tasks. This increase in productivity is due to the financial department acting as collector of all the relevant actions generated from the other management departments. This occurs in such a way that these have an automatic reflection in the general accounting, in the accounts receivable and accounts payable as soon as they are produced.

• Accounting
  • Quick Search of accounting records by multiple reporting dimension: 
    • By Account
    • By Organizations/business units/companies
    • By Products
    • By Date Range (Transaction / Account Date)
    • By activity / Department/Campaign
    • By Project
    • By Business Partner
    • By locator
       
  • Default charts of accounts.
  • Definition of charts of accounts.
  • Fiscal year and year to year management.
  • Budgeting.
  • Tax categories.
  • Tax brackets. Determining flexible taxes based on regions, products, or business partners.
  • Linked accounting. Direct navigation from accounting entries to documents and vice versa.
  • Manual entries.
  • Journal entries.
  • Trial balance.
  • General ledger.
  • P&L statements (income statements).
  • Balance sheets.

• Receivables and Payables
  • Generation of debt payments (from invoicing).
  • Issue of debt payments.
  • Management (cancellation, merging and division) of accounting documents.
  • Remittances (according to bank records).
  • Issue of cash accounts. Multi-cash account.
  • Cash account journal (cash audit). Cash account entries by type Expenses, Receipts, Balance, Deposits, Bills, Order (for cash payment on delivery note: possibility of recovering expenses before invoicing.
  • Automatic generation of entries for cash payments and payments on delivery note.
  • Bank statements to reconcile bank statement to system payment records.
  • Cash account reports, bank, debt payments by position.

Screenshots

Click thumbnail to expand