Finance and Accounts Management

Introduction to Finance and Accounts Management

Finance and accounts management in Boon provides companywide control and integration of financial information. This module provides the ability to centrally track financial accounting data within a framework of multiple companies, and currencies. Finance and accounts management contains General Accounting, Sales Management Accounting, Purchase Management Accounting, Cost Accounting, Administrative Accounting, Fixed Assets Accounting functionality.

With Finance and Accounts Management module, enterprises can perform operations smoothly and run reports efficiently by using multiple accounting standards.

Main features of Finance and Accounts Management

• Ability to effectively manage trade receivables and commercial debts with real-time or collective integration with Sales Management, and Invoice Control modules. (Open balance control, credit/debit aging, customer debt information, collective reminders).
• With real-time integration to the Asset Management module, accounting for monthly depreciation expenses, automatic creation of full or partial sales, scrapping of related accounting documents, automatic determination, and processing of fixed assets and expenses of the related period from accounting records.
• Accounting of monthly personnel expenses and accruals by the human resources of organization.
• With multiple dimension posting entries entered in the Financial Accounting module, the Cost-Centres Accounting balances are well maintained for the cost calculations.
• Managing expense accounts and accounting of material costing records through integration with Inventory Management and Production Cost Management modules.
  
• Record the notes such as checks, notes, letters of credit, receipt of credit, follow-up, aging reporting.
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  Comprehensive reporting of the ledger, trial balance, definite trial balance, balance sheet, profit/loss statement, cash flow statements, etc. (With the options of the local currency, reporting, transaction or currencies) Easy to get financial statements and lists. Ability to create personalized reports and tables as well as financial reports and tables covered by the standard.
• Automatic creation of debit record accrual accounting documents foreign exchange profit/loss accounting documents resulting from the “Periodic Currency Valuation”, and exchange rate difference invoices.
• Comprehensive “End-of-Period Transactions” and ending and the opening of new period documents.

Reporting

Standard reports are available with rich parameters and options. With the help of easy-to-use options, Excel, PDF, text documents can be transferred easily to different environments. Direct and indirect taxes reports are included which will facilitate various statutory requirements. 

Integration

The Financial Accounting module has flawless integration with modules such as Sales Management, Invoice Verification, Asset Management, Production Cost Management, multi-dimensional Accounting, and Inventory Management.