EMSYS – Financial
Approaches the operational processes, support and management from financial point of view both for commercial organizations and budgetary. Supports the planning process of financial resources, allocation and their reservation on activities, projects, objectives.
Financial resources Management is achieved in the budgets’ system context. Budgets’ construction starts from organization structures suggestions in accordance to operational plan, maintenance plan, investments plan and purchase plan. Allocating the budget funds is achieved on management structures by indicating the destination on budgetary items.
Dynamically designs the management, legal, local and of consolidation structures, in other accountings. Multicurrency treatment and interdependency between financial accounting, of costs, external balance, IFRS and group or alternative (reports in other countries accounting) ensures information unicity and consistency.
Is the basis of definitions on the entire system. Basis data , business unit, fund, cost objects, budget structure, chart of accounts, currencies, fees, documents, represent the source of information for other modules (stocks, fixed assets, payroll and human resources, etc), it segments the required information in domains (suppliers, clients, collections, payments, VAT, dynamic analytics).
Without disrupting the activity, definitions can be restructured by development or restraint procedures, by blocking, closing activity period, data association, etc.
Financial reporting allows users’ that by selecting and combining and selecting parameters, a report to offer more perspectives, for instance a synthesis or detailed presentation of information. Other reports can have more forms designed by user (balance sheet, loss and gain account).
Accounting reports are automatically generated from systems’ modules (purchase, stocks, payroll, fixed assets etc.) or by accounting monograph (record models of some repetitive documents by economic phenomena) or by automatic procedures (of closing accounts at the end of the period or of balances reevaluation in other currency).
Any operation, report, process, is performed in accordance with users rights and profile.
Suppliers and Clients Accounting
A business partner can be both supplier and client, system allows the analysis of financial status as client balance or supplier balance with detailing actions on each balance in part.
Actions from operational processes: receptions, purchase, sales, utilities invoices, insurance policies issuance, etc and cash management. Clients and suppliers accounting is a result of operational processes. Reports regarding clients and suppliers activity by selection parameters allow obtaining of an analytic and synthetic image.
Debit/ credit activities associated with invoices collections/ payments client/supplier are correlated with operating cash accounting, of account statement or with issuing the payment order by deleting in real time invoices obligation of client/supplier. Other credit debts actions are available as prototypes of documents by payment/ collection effects, compensate clients/ suppliers invoices.
The complete set of reporting ensures activities analysis on the accounts’ group and/or supplier/client as well as in detail up to invoice level by balances on accounts, analytical balances on documents, supplier/ client sheets in balance, balance documents.
Analysis of balances seniority and supplier on seniority intervals changeable when obtaining the ABC analysis report or client and supplier balances are disclosed in aggregate or in detail on balance documents.
Supports organizations’ in analyzing products, services, activities, departments’ profitability and efficiency as well as in determining unitary costs structures of products and services, for a performant costs management.
Instruments accessible to users differently designs costs accounting from one organization to another in accordance to the organizational structure, suggested management, services and products portfolio, by choosing any combination of calculation methods – Complete/ Total Cost Method, ABC Method – Activity Based Costing, Equivalence indexes method, Global Method, Phases Method, Method on Orders.
By native integration with the other systems’ compounds, by accounting monographs or by automatic procedures is ensured the record of costs automatically generated by (purchase, stocks, salaries, fixed assets etc). In this way, the internal management accounting is automatically performed with humans’ effort smallest effort, without the need for conciliations with the financial one, data being collected on costs accounting (cost objects, management accounts, calculation items, expenses items) once with the registration in the financial accounting.
Allocating expenses is a completed automatized process, allocation stages are organized into a reimbursement scenario, based on some cost inductors. The reimbursement scenario can be launched into execution over the entire process or on stages. Allocating expenses can be repeated in costs accounting, including for previous periods.
Supports organizations’ in monitoring processes and minimizing costs with corporal and non-corporal fixed assets evidence, by instruments necessary to substitute the effort in observing the law and tax rules on the entire life cycle of fixed assets, from reception, amortization calculus, reevaluation, up to the decommissioning.
Establishing an efficient modality of managing fixed assets is a very good modality of maximize an organization funds. Integrated for budgetary organizations and not only, in the financing process, budgetary and expenses execution allowing the automatic calculus of amortization at each financing source level, to each project according to optimum amortization methods of each immobilization.
Labeling procedures and inventorying with mobile equipments represents a solution of optimizing organizational costs by reducing time allocated to the inventory, for adapting exact decisions on cassation, ensuring data accuracy and increasing efficiency by eliminating human errors.
By complete monograph of each fixed asset is ensured the automatic registration of amortization into financial accounting once with the reflection into management accounting. Fixed Assets module is completely integrated with EMSYS – Asset Management, EMSYS – Logistics (Purchase).
Relevant processes: immobilization inputs directly or based on suppliers orders by integration with purchase flows, reception of investments items, divisions, merges, modernization, partial/total outputs, individual/ in block transfers, tax and accounting calculus on business unit, cost object, financing sources and budgetary items, amortizations corrections, reserves from reevaluation at inventory number level, passing reevaluated reserves to surplus by monthly reevaluation/to integral amortization, passing to part-share incomes of subventions for investments, reevaluation taking into account previous reevaluations.
Performs the cash management and of operations in accounts to on hand and banks, cash integrity in real time, connecting to the budgetary control process as stages of financing and finalizing financial flows by payments.
Instruments associated to cash flows are configurable by user, an unlimited number of cash, banks and accounts associated to them, developed both by physically (cashiers, account statement) but also on different coordinates to ensure a performant financial management and a rigorous control of using cash: objectives, activities, financing sources, projects, interest areas, destinations, etc.
Designing different screen prototypes associated to collections and payments that reduces users’ effort, operation takes place naturally, the system only requiring specific information to each operation. Collecting client invoices or supplier invoices payment automatically extinguishes its obligations, by selecting invoices in balance.
Integration with systems functionalities: purchase orders, sales, clients, suppliers, debtors, creditors, other operations of payments and previsioned collections (leasing, insurance, loans to banks, payroll, fee payment and taxes etc.), allows the modeling of a picture regarding cash flows previsions on years, semesters, trimesters, weeks up to day, as decisional support to insure long term financial stability.
Complete management of payment orders is performed into an approval flow, generating payment proposals from due obligations, registering them to payment orderings, lately being transmitted in standard electronic format accepted by banks.
Planning Budgeting and Control
Performs the budgeting process control and offers a strategic perspective for distributive planning of business. Totality of operational, of investments, for assets management, for environment protection budgets, etc are gathered in organization budgets system and are centralized and individual coordinated.
By perfect integration with all financial and business domains data, EMSYS Planning, Budgeting and Control creates the frame for collaboration between all business lines, influents and facilitates the financial performance of the organization, as well as the technical-operative decisions in real time.
Planning and budgeting processes start from establishing suggested objectives to be realized. Budget can be built from up to down, or any combination of the two methods, allocated funds for objectives are spread on organizational structures.
Financing sources and budgetary items are designed by users and forms the budgets structure. For other perspectives of presenting data, alternative structures of reporting can be defined.
Budget figures can be declared per year, trimester or period, lately being split or merged.
Table format of declaring data in budgets and import procedures of budgetary values make that planning and budgeting activity to be easily manipulated by users.
Stages of budgetary execution are established relatively to organizational culture, one of those can be omitted. Commitment of expenditures is the stage by which it is authorized the initiation of using funds stipulated in budgets for individual goods, services and works, or global expenses of the organization (utilities, payroll, protocol, rents, etc.).
Indicators for budgets analysis are configured by users on budgetary execution stages, can be presented as budget values, sums, contracts, expenses, payments, incomes, etc.