To fulfill legal requirements - records as per standards and practices
• To pay taxes to various bodies - statutory needs
• Keep the business running - manage receivables & payable, cash, bank...
• Keep a watch on the pulse of the organization - key performance indicators
• Respond to queries - to locate the right transaction immediately..
Financial Management & Controls
unds Flow & Cash Flow reports – help you locate bottlenecks
• Bank reconciliation - keeps your bank books in sync, and identify unclear instruments
• Customer Credit Limits - to limit risk of default and large losses
• Budgets - keep tabs on projected expenses against actuals
Multiple inventory valuation. You can decide one valuation method for the business, and be able generate financial reports using any other valuation method - as the statutory method may not be appropriate for your needs, your bankers and for other decisions
• Cash balances can go negative - you can get warned if this is about to happen, or see reports and make the necessary corrections
