While it is widely agreed that ‘some sort’ of financial capacity is involved in HISAAB ERP software, in today’s market there are ranges of utilities available. Consequently, in order to satisfy the particular technical criteria, you should be prepared to analyze and clearly grasp these capabilities as you verify financial functions for your own business purposes.
Let’s take a brief look at what characteristics you can have in your criteria for ERP finance.
Features of the Highest ERP finance module
- General Ledger
- Accounts payable
- Accounts Receivable
- The Handling of Cash
- Control of clients
- Control of the Vendor management
- Control of Banking
- Tracking for profit
- Capabilities for Multi-currency
- Reporting
What is ERP finance?
A HISAAB ERP module captures and converts financial data into records, including quarterly financial statements, ledgers, benefit monitoring, and balance sheets.
ERP Finance Module characteristics
Let’s take a look at what a ‘typical’ full-featured ERP finance module provides to help you grasp what I’m talking about; then function against this set of functionality before your own criteria surpass, meet, or fail to fulfill the benchmark. Using the ERP finance module, the following functional levels apply:
- Ledger General (GL)
- Accounts Payable (AP)
- Receivable Accounts (AR)
Required data dependencies are relevant under these levels, including:
- Dependency on customer management
- Dependence of Vendor Management
- Dependency on bank management
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