Accounting

Accounting and Financials

With support for multiple currencies, budgeting, and bank reconciliation, SAP Business One delivers financial management functionality that enables your enterprise to be more efficient and more productive.

Chart of accounts

Create and manage charts of accounts for any country using locally compliant templates, which you can adapt to fit your unique business needs. Define individual charts of up to 10 segments (or levels), if needed, to support your businesses processes and reporting requirements. You can create segmented charts of accounts that represent your departments, divisions, regions, branches, and so forth.

Journal entries

Benefit from functionality that automatically posts journal entries from the sales, purchasing, and banking areas and also either manually or automatically creates new journal entries. You can search for existing entries and automatically allocate each transaction to a project or a profit center.

Journal vouchers

Save multiple manual journal entries to a batch to review them before processing. This allows you to verify and correct postings if necessary before they are entered into the general ledger.

Tax engine

The patented tax engine in SAP Business One has been designed to address a variety of complex tax requirements while maintaining a user-friendly interface that can be maintained by your company’s tax professional. The tax engine has a high degree of configurability, allowing it to address known tax requirements in addition to future tax modifications.

Posting templates

Define general ledger account templates to save time and help avoid mistakes during the manual posting of journal entries.

Recurring postings

Define your own postings for regular execution in accounting and specify a frequency for each recurring posting. With recurring postings, the application automatically reminds you to post your transactions.

Reversing journals

Reverse monthend accruals automatically. By default, reversal of specified postings occurs on the first day of the next month, but SAP Business One allows users to specify a different reversing date for each posting, if desired.

Exchange rate differences

Periodically evaluate your open items in foreign currencies to identify differences and choose the appropriate correction transaction.

Banking

Track all banking processes, from cash receipts and check writing to deposits, advance payments, credit card payments, and account reconciliation.

Budgets

Define and manage budgets against general ledger accounts. Configure budget allocation methods; define budget figures in any currency (local, foreign, or both); and display a summarized budget report that compares actual and planned figures. With SAP Business One, you can create an online alert that notifies you if a transaction exceeds the monthly or annual budgeted limit.

Profit center

Define different profit centers or departments and allocate corresponding revenue and cost accounts to a predesignated profit center in the chart of accounts.

Profit center report

Run a profit and loss statement based on revenues and costs – both direct and indirect – as defined in the allocation rules. You can run it for any profit center, choose between annual and monthly display formats, and compare the results with figures for the previous period.

Distribution rules

Define different distribution rules to characterize business activities and then allocate revenue or cost accounts to the corresponding distribution rule.

Real-Time Accounting

SAP Business One supports real-time accounting with the following:

Fully integrated financials

Automate key financial and banking management activities with fully integrated functionality. When you run a transaction, the software automatically posts a journal entry in the general ledger so you don’t have to perform additional posting or batch processing.

Quick drill down

Drill down to information at the posting level. For example, while viewing the journal entry for a sales transaction, you can drill down to see chart-of-accounts information.

Complete chart of accounts

Drill down on the balance field to see transactions that make up a specific balance.

Accelerated Month-End Closing

SAP Business One offers functionality to support month-end closing.

Automated tasks

Accelerate monthend closings by assigning tasks to individuals or creating reminders to manage various aspects of the closing via the activity window.

Control accounts

Identify accounts as control accounts and assign them as default posting accounts for the increase or decrease to customer or vendor balances. This helps ensure synchronization between the general ledger and the subsidiary ledgers.

Period-end closing

Use this feature to create specific postings in the accounting system when a posting period (or fiscal year) ends. You can transfer previous general-ledger account balances from one period to another.

Financial Reporting

SAP Business One offers the following financial reporting functionality.

Crystal Reports

Quickly generate real-time financial reports in a variety of layouts and export them into formats that best meet your needs, including Adobe PDF, Microsoft Word, Microsoft Excel, and XML.

Multilevel reporting

Create reports that allow your data to be grouped and viewed at all levels. If you need to access lower-level detail, you can readily drill down all the way to the posting level detail directly from your report output.

Integrated reports

Create advanced reports with integrated business information across financials, accounting, inventory, sales, and purchasing.