FINANCIALS Software Module

IBS Financials, a core module of IBS Enterprise lets you design financial transaction flows to suit your specific needs. By using automation, the entire range of processes is made simpler and faster, so that you can use fewer staff and reduce errors.

HIGHLIGHTS of Features & Benefits
• Designed for maximum flexibility in all key transaction areas
• Precise business analysis and effective control
• Accounting and financial reporting to suit changing business needs
• Powerful software for processing all customer and supplier accounting
• Efficient tool for streamlining payments.

IBS Financials is a flexible system that changes and grows with your business. The financial applications are fully integrated with your entire business system, offering unique overall control. Mass-update functionality through EDI and general interfaces also maximizes efficiency.

DESIGNED FOR GLOBAL BUSINESS

A FULLY INTEGRATED FINANCIALS SOLUTION

GENERAL LEDGER

Chart of accounts – Up to 30 alphanumeric characters, divided into eight optional account parts, and language dependant descriptions.

Summary identity – Sixteen summary identity parts to represent alternative charts of accounts or business structures, providing additional analysis capability.

Pseudo codes – To simplify data entry of lengthy account codes and facilitate automatic posting from other systems.

Dual system currency – Allows parallel bookkeeping in local currency and corporate currency, with flexible exchange rates.

Euro conversion – Complete Intrastat handling for transition period and handling of euro conversions.

Multiple period handling – Post transactions to previous periods according to pre-defined rules, to future periods or current period.

Automatic posting – Pre-defined posting rules to minimize operator entry for items such as debtor/creditor controls, discounts, payments, exchange rate gains and losses.

Automatic validation – Of postings and account combinations.

Revaluation – Of balance sheet items in foreign currencies including simulation routines.

Journal posting options – Handle accruals, pre-payments, recurring journals and standing orders, calculations, dynamic redistribution, pricing, elimination or copy of journals.

G/L Notes – Attach free text to any manual transaction.

Attachments – Link any kind of document as an attachment to an IBS Enterprise object, e.g. attach a corporate accounting instruction in MS Word to a G/L account.

Reconciliation – Function to facilitate e.g. matching bank statements to G/L account.

Parallel budgets/forecasts – Limitless number of different budgets/forecasts per year, entered manually or using global copy routine with budget uplift facility.

Budget distribution curves – User-defined key to distribute budget figures over the year.

Cost accounting – Compares actual costs to budget and highlights any deviation.

Company consolidation – Flexible function for online consolidation of information in multilevel company structures operating with different system currencies and chart of accounts into corporate format.

Report Writer – Run reports or a group of reports any time for any period without interrupting operations. Works across IBS Enterprise and across company structures.

User-defined and distributed balances – New balances, to be included in reporting and analysis, can be created based on existing balance types, values from external systems, as well as manual values.

Cost allocation routines – Automatic routines for cost allocation, recharges and period adjustments.

Inflation accounting – Automatically calculate inflation gains and losses and assign them to inflation accounts.

Error correction – Interactive online error correction before resuming update of journals suspended due to transaction errors.

Listings and reports – Extensive standard listings and online reports with drill-down and connections to PC software and email.

Numerous inquiries – Accessible from any program, with drill-across functionality for following a G/L transaction to the prime document.

Balance inquiries and query groups –

VAT and Intrastat – User-defined on balance level, with drill-down access to transaction files and user-defined key values for many columns. Handling and reporting.

Security – On several levels down to account combinations.

Year-end closing – Procedures with automatic postings of clearing accounts and opening balances.

ACCOUNTS RECEIVABLE AND ACCOUNTS PAYABLE

BUSINESS PARTNER SET-UP
Business Partner details – Stored in the name file, shared by all IBS Enterprise applications.

Credit status and profile, considering both limit and payment behavior.

Business partner structure – Arranged in tiers of Holding, Parents and subsidiary companies. Structure allows postings to account or debtor and includes group credit warnings, price search stops, inquiries and listings.

Default currency – Prime trade currencies can be defined per customer/supplier account.

Authorizing person – Records the normal authorizing person per supplier.

Payment terms and methods – Determines terms of trade and settlement discounts, and preferred payment methods.

Bank account number control – Program for validating entered bank accounts.

Reminder letter with pre-defined level and timing.

Sundry customers/suppliers handling.

INVOICE PROCESSING
Integrated sales invoice posting – Automatic posting from complementary IBS Distribution applications or other invoicing systems.

Rebate handling – Automatic A/P credit document regarding commission and rebates, to be sent to supplier.

Interface routines for full validation and error reporting.

Group documents – Gathers several invoices into one, with one due date and reminder amount.

EDI – Full support for electronic invoicing and payments.

Stepwise purchase invoice processing Preliminary invoice processing or direct, immediate posting to final coded, authorized invoices.

Invoice matching of details against purchase order and delivery note, with automatic calculation of purchase variances.

Integration of asset entry with IBS Asset Management.

Multiple VAT handling rates – Meets country-specific regulations with enhanced EU or Intrastat abilities.

Installments, recurring payment dates Multiple payment dates on one invoice.

VAT and Intrastat – Automatic VAT handling and Intrastat recording for intra-EU trade.

GENERAL LEDGER ACCOUNTING
VAT and G/L accounting – Optional facility for immediate or delayed VAT and General Ledger update.

Expense coding – Operational prompts for G/L expense coding. Can be automated via pseudo accounts and catalogues.

Invoice allocation – Facilitates allocation of invoice amounts across several periods, past and future.

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Complete traceability through drill-down from G/L balance to the detail G/L posting and across to the original invoice document.

Revaluation and automatic posting of unrealized exchange rate variances Revaluation of balance sheet items in foreign currencies including simulation routines. OUTGOING PAYMENTS
A/P payment proposal mechanism – Available for control of supplier payments.

Use selection criteria – Facilitates preparing proposals. Range of suppliers/groups, payment dates, countries, currencies, payment methods and bank accounts.

Unauthorized invoices check – Includes unauthorized or stopped invoices to check overall position without making payment.

Manual adding of invoices to proposal outside selection criteria.

Nil and negative balances can be included in proposal.

Unlimited number of payment proposals is supported.

European support – For most European automatic bank transfer systems – BACS/GIRO.

Payment methods – Unlimited number of supplier payment methods in one proposal.

Proposals weigh all criteria – Include interest earned and early payment discounts, to give most favorable settlement date.

Multiple IBS Enterprise calendars – Different calendars to handle bank holidays.

Remittance advice – Automatically produced by payment run update, making payment in required media type, and posts to G/L.

Re-opening of settled invoices supported.

INCOMING PAYMENTS
Order summary and settlement – Linking an order to a payment, or vice versa.

Automatic write-off of small residual balances.

Batch payment interface – Routines to automatically process customer payments from bank systems.

Automatic cash allocationAutomatic cash allocation supported.

Multi-currency settlement with currency-independent processing.

Automatic settlement of all open items within a specific selection based on due date, currency, etc.

Linking IBS Distribution debit/credit notes with open A/R items triggers automatic settlements.

Payment entry and difference handling On account, or posting miscellaneous receipts directly to the General Ledger's income code.

Check writer supported.

Automatic calculation and posting of realized exchange rate variances.

Split posting and allocation to facilitate bank paying-in schedules.

DRAFTS AND BILLS HANDLING
Drafts and bills – Extensive functionality, including draft proposals for submission and customer acceptance.

Bills portfolio – Creates and remits bills portfolio of accepted drafts for bank encashment or discounting.

CREDIT MANAGEMENT
Using IBS Distribution's invoicing with IBSFinancials' Accounts Receivable enables effective credit control and management.

Automatic system hold and release – Deliveries withheld if credit limits exceeded or payment overdue.

Customer credit profile – Available to compare customer credit limits and payment behavior to account balance and outstanding orders at order entry.

Customer documentation – Full range of customer credit management documentation.

Highlight slow payers supported.

Notepad facility – Unlimited free-format customer/supplier notation. Can be attached at document level.

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View details about debtor balances per due date.

Supplier invoices – Can be included in A/R statement of accounts for customers who are also suppliers.

Re-ageing of open documents – Easily adjust due dates and several payment parameters for groups of invoices.

Several severity levels – For reminder letters produced in system language or customer's language, with user-defined free text.

Interest invoicing – Invoices of overdue interest can be generated automatically.

INQUIRIES
Comprehensive inquiries include: Business Partner file details, balances and transactions – Advanced selection options to view and analyze A/R and A/P status on multiple levels, including credit time axis.

Online age and Cash Flow analysis in customer/supplier and default currency.

Online credit control and follow-up – Relevant information for the credit manager gathered in one place.

Notepad facility – Browse agreements and notations.

Customer/supplier statistics – Available for history of invoicing, payments and average payment time.

Drill-down and drill-across facilities – Drill down from particular invoices/payments to detailed G/L postings or across to the original invoice document.

LISTINGS AND REPORTS
Accounts Receivable and Payable provide extensive reporting capabilities including:

• Cash flow and age analysisCash flow and age analysis
• Customer/supplier lists and labels
• Detailed balance list
• Transaction listing
• Open item revaluation report
• Payment statistics list
• Reconciliation
• User-defined Report Writer reports
• Purchase variation lists

Cash Flow
Allows you to view all types of incoming and outgoing payments on a daily level. Cash flow forecasts are based on a customer's payment behavior. Each customer's average days sales outstanding are calculated.

Contact IBS for more information. »