Accounting & Financial Management

Every business process in novosales is integrated with financials. It allows you to gain control over your cash inflow and outflow and to forecast and analyze the liquidity and profitability of your business. Below is the quick scope.

•    Control your payables, receivables and cash flows.
•    Create invoice and payment disputes and track their closure.
•    You can centrally manage payments, such as cash, checks and bills of exchange.
•    You can valuate payables and receivables.
•    Open items in foreign currency can be converted automatically into your company currency on dates that you specify.
•    Monitor cash positions in real time.
•    Automated payment process to take advantage of early payment discounts offered by your suppliers.
•    Payments can be processed in multiple currencies.
•    Manage banking transactions, reconciliations, charges and bad cheques.
•    Product tax returns and withholding tax returns is presented to you on a transaction basis
•    Automatic tax posting to different tax accounts depending on each country’s legislation.
•    Monitor travel expenses and other employee expenditures.
•    Expense claim process allows employees to submit reports online and managers to approve them online.
•    Reimburse approved expenses to employees, quickly and efficiently.
•    Track how money is spent within budget.
•    Create new cost-saving measures, by creating budgets limits on expenses and centrally manage them.
•    Cost Planning & Control : Flexible cost centers creation & comparison of budgets with actual / previous budgets
•    Configurable Balance Sheet and Profit loss statement for each month, year or quarterly
•    Accurate, up-to-date picture of current earnings/profit-loss statement without closing periods.
•    Manage multiple companies within same business or business division within same company.