Every business revolves around one thing – Money. The maddening race between everyone is to see to rakes in more moolah at the end of the day. But what is important is not just make money but also manage it efficiently. This is where ERP for Cash Management comes into the picture. This fundamental application allows you to manage your accounts with ease and accuracy. This allows you to analyze all the financial transactions for a given period of time and provides information regarding sources of fund of the organization. Cash management application includes banks, savings institutions and charge cards with all the appropriate functions are conveniently centralized in one location. It facilitates the accounting staff with various activities like sending and receiving payments, printings checks, recording manual check and recording funds transfer to name a few. Many SAP B1 partners customize the app as per the requirements of the company.
Cash transactions happen through different methods, which is why the best retail ERP systems usually include the ability to process and manage the various payment methods. Electronic cash transactions make the tracking of the payment simpler, but there are still a lot of people who prefer the traditional way of using cash. Because of this, one should make sure that your retails ERP system can manage and track cash transactions too. This way, you wouldn’t lose out on any business. Your SAP Business One Partner in India will tell you the retail ERP offers you two methods of making any payments. The quick cheque feature allows you to print a cheque for a vendor immediately, but not against a specific bill or the second option is that you can record and post cheques you commission through a chequebook. This way you will never have to worry about any glitch in the transactions. The application also smoothly handles the transfer of funds from one cash account to another. Reconciliation facilities are provided for all checking, savings and charge card accounts.
Some other appreciated features are the ability to post on current and future periods, or reopen posts for a prior closed period. One can also pay off credit card charges via locally printed or online checks, cash or funds transfer and reconcile cash accounts easily. Your SAP Business One Partner in India can guide you more about the numerous benefits that come with the cash management ERP.
Cash transactions happen through different methods, which is why the best retail ERP systems usually include the ability to process and manage the various payment methods. Electronic cash transactions make the tracking of the payment simpler, but there are still a lot of people who prefer the traditional way of using cash. Because of this, one should make sure that your retails ERP system can manage and track cash transactions too. This way, you wouldn’t lose out on any business. Your SAP Business One Partner in India will tell you the retail ERP offers you two methods of making any payments. The quick cheque feature allows you to print a cheque for a vendor immediately, but not against a specific bill or the second option is that you can record and post cheques you commission through a chequebook. This way you will never have to worry about any glitch in the transactions. The application also smoothly handles the transfer of funds from one cash account to another. Reconciliation facilities are provided for all checking, savings and charge card accounts.
Some other appreciated features are the ability to post on current and future periods, or reopen posts for a prior closed period. One can also pay off credit card charges via locally printed or online checks, cash or funds transfer and reconcile cash accounts easily. Your SAP Business One Partner in India can guide you more about the numerous benefits that come with the cash management ERP.