ERP > Functionality > Financial Management and Accounting

Financial Management and Accounting

Chart of accounts, accounts, budgets, taxes, general accounting, accounts payable, accounts receivable, bank accounting, balance sheet, P& L , fixed assets, etc.

The financial management and accounting functionalities provided by Openbravo ERP are 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 Solution

  • Plant structures.
  • 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. Enty rates.
  • Journal entries.
  • Trial balance.
  • General ledger.
  • P &L statements (income statements).
  • Balance sheets.
  • General accounting plan statements.

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. Portfolio issues selection assistant..
  • Manual liquidations. Other expenses (payroll, taxes, etc.).
  • Cash account reports, bank, debt payments by position.

Assets

  • Definition of the assets, fixed assets, acquisition price, and accounting valuation.
  • Temporary or percentage based amortization.
  • Amortization plans.

Internationalization

  • Support for multi-currency.
  • Support for multi-schema accounting, which enables the same transaction to be accounted in different rules, different charts of accounts, in different base currencies and with a different accounting calendar.
  • Support for international bank account numbers.
  • Support for multiple languages, defined at user level.