SAP Business One Accounting and Financials

Manage Accounting, Cash Flow, and Banking Transactions

SAP Business One Financials Management

As your business grows, so do the challenges associated with managing its financials. Without an integrated and automated financials management solution, increased business complexity can overwhelm your existing financial and accounting processes, giving rise to inefficiencies and inaccuracies that can lead to missed opportunities and lost revenue.

The SAP Business One Financials Management application offers a complete and integrated set of tools to effectively manage and automate all the accounting and financial processes in your growing company. As the core component of SAP Business One, financials management incorporates all key accounting processes, such as general ledger and journal entries, accounts receivable, fixed assets, banking, financial reporting and accounts payable. SAP Business One automatically triggers accounting postings in real-time when business transactions occur.

SAP Business One Financials Management supports automatic tax calculations as well as multicurrency transactions. Posting templates and recurring postings further streamline and simplify your accounting processes.

The SAP Business One application provides a reliable, integrated solution to streamline your financial operations. it automates your everyday financial tasks and integrates them with other business processes, such as purchasing and sales, in real-time, resulting in faster transactions and improved cash flow.

Learn More About SAP Business One

SAP Business One Financials Management Features

Accounting	Controlling (or Cost Accounting)	Banking and Reconciliation
Implement and adapt predefined chart of accounts templates	Define and manage budgets	Manage incoming and outgoing payments with cash, checks, electronic bank transfers, and credit cards
Manage accounting transactions such as journal entries, journal vouchers, recurring postings, and posting templates	Handle payment terms, customer reminders, and cash collections	Process bank statements and perform automatic reconciliation of your ledgers
Manage multiple currencies for accounts payable and accounts receivable	Manage direct and indirect expenses and revenues for multiple cost centers	Clear multiple accounts receivable and payable invoices automatically in batches
Create balance sheet, profit and loss, and other financial reports	Maintain distribution rules for automated revenue and expense allocation	Print check batches and generate check and payment reports
Benefits
Streamline accounting operations	Manage costs and improve profitability	Automate reconciliation
Expedite month-end closes	Forecast cash-flow accurately	Minimize payment roadblocks

SAP Business One handles all your accounting transactions effectively and comprehensively. You can use SAP Business One’s complete chart-of-accounts templates as they are, or you can customise the chart of accounts based on your business requirements. Chart-of-accounts templates consider specific legal requirements for each country, such as segmentation or specific numbering, and thereby help ensure compliance with local laws and regulations. SAP Business One supports multiple global financial reporting standards, currencies, and languages with 40 country-specific versions. For example, with SAP Business One, you can process and report transactions in multiple currencies.

SAP Business One integrates accounting journal entries and automatically updates them whenever relevant business transactions occur (in real-time). SAP Business One allows you to use recurring postings and posting templates for transactions that repeat from period to period, eliminating redundant tasks and potential mistakes. You can also use journal vouchers to create multiple journal entries and then process these vouchers in batch mode, posting all entries simultaneously.

SAP Business One automatically calculates taxes and BAS requirements whilst taking into account country-specific allocation and reporting requirements. For multi-national businesses represented in multiple countries (where SAP Business One is supported), the computation and reporting of tax processes are easy to manage.

SAP Business One automatically calculates taxes, such as sales tax, value added tax, and withholding tax, for each line item on each transaction, taking into account country-specific allocation and reporting requirements. It auto mates the computation and reporting of tax processes, enabling you to fully comply with legal requirements.

SAP Business One enables you to accelerate your month-end close and reporting. SAP Business One automates business activities that lead to greater efficiency and fewer errors.

SAP Business One provides intuitive features and reports that let you effectively manage cash flow and profitability for your business. SAP Business One financials, helps you optimise liquidity by accurately forecasting your cash flow and cash requirements and by giving you the power to efficiently handle payment terms, customer reminders, and cash collections.

For example, you can set up workflow based alerts in SAP Business One that notify you of any pending payments that may affect cash-flow. Debtor ageing reports in SAP Business One provide an analysis of outstanding receivables and liabilities for both your customers and suppliers and SAP Business One HANA cash flow reporting provides real-time cash flow analysis – using SAP in-memory technology for quick, accurate reporting at the push of a button.

With budgeting features in SAP Business One, you can set up multiple budgets, using various budget allocation rules defined, and you can accurately track expenses against budget. To make sure you stay on track, SAP Business One provides alerts that inform users when an expense exceeds a defined budget limit.

Using cost accounting and general ledger dimensions, you can track departments, divisions, geographies and other cost centres to analyse cost centre profit and loss. Setting up distribution rules for automatic allocation of revenues and expenses in SAP Business One allows you to manage direct expenses and revenues as well as the allocation of indirect expenses, like administration, advertising, and financing costs that are spread across multiple business activities.

SAP Business One also enables you to create a detailed profit and loss statement based on direct and indirect revenue and expenses as defined in the allocation rules. You can choose between annual and monthly display formats and compare the results for multiple periods.

With the banking and reconciliation functionality in SAP Business One, you can automate the processing of incoming and outgoing payments. The payment wizard allows you to clear multiple accounts receivable and accounts payable invoices in batch mode. The payments are executed according to your selection criteria and payment methods (for example, bank transfer, credit card, or cash), and then the journal entry trans actions are automatically posted once the payment process is completed. With the bank statement processing features in SAP Business One, you can also readily process external bank statements to generate incoming and outgoing payments and to reconcile your balance sheet accounts.

SAP Business One enables you to match payments that are not automatically reconciled, such as payments made “on account,” to open items either automatically or manually through its reconciliation engine. You can filter this engine by general ledger account or by the business partner.

SAP Business One provides a wide range of financial reports, such as balance sheet, profit and loss, sales and purchasing analysis, ageing and budget reports. SAP Business One HANA offers additional “in-memory” technology features that further enhance real-time reporting like cash flow analysis, available to promise and outstanding debtors analysis via KPI widgets and dashboards.

A combination of integrated MS Excel Pivot Tables, SAP HANA Analytics and integrated third party Business Intelligence software provides reporting and analytics of your financial data in real-time.

Quick Tips

Summary

The SAP Business One application enables you to simplify and automate financials management. SAP Business One provides a comprehensive and integrated set of tools that allows you to manage all the accounting and financial processes in your company.

Business Challenges

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Inefficient and error-prone accounting and financial processes due to duplicate data entries and lack of integration between financial data and key business functions, such as purchasing, warehousing and sales.

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Inadequate access to the full range of accurate financial information needed to complete month-end reporting in a timely manner and make informed business decisions.

Key Features

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Accounting

Automatically handle all key accounting processes, such as journal entries, accounts receivable, and accounts payable.

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Banking and Reconciliation

Quickly process all reconciliations and bank statements and payments.

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Controlling (or cost accounting)

Accurately manage cash flow, track budgets, and compare actual and planned figures.

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Financial reporting and analysis

Create a wide range of standard or customised financial reports from real-time data for business planning and audit reviews.

Business Benefits

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Streamline financial operations

Automate, integrate, and manage all the financial processes in your company with a single solution, eliminating duplicate entries and errors.

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Faster month end closing process

Close your books faster with automated processes and the ability to access accurate and timely financial information.

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Improved decision making

Get a unified financial view of your business by integrating
accounting data with sales, purchasing, inventory, and operational information.

Hear it from our customers

“When we were looking for a partner we wanted a company that had very good support and had a very good reputation in the industry and Leverage Technologies are number one.”

Noah Shroot,
W9

Keune Australia and New Zealand - SAP Business One Project

“SAP Business One from Leverage Technologies is one of the best IT decisions we have ever made. We now have a solid platform to take us into the future and expand with our business.”

Hans Van Der Velden,
Keune Australia & New Zealand

“We would recommend Leverage Technologies 100%. The support offered as well as the relationships that we have built up are really going to put us in good stead for the future.”

Chris Cole,
Markris Foods