Financial Module – The Most Important Module of an ERP System
Why does a company really needs to implement an ERP system in their company? Of course, to get a transparency of data about how the performance of companies which they manage. With the transparency of this data, we can control the income that can be run in accordance with the annual plan that has been targeted.
Therefore, many companies who want to develop start implementing ERP system into their company. And one of the ERP system which has been much in use today is SAP Business One.
ERP system such as SAP Business One usually has a wide range of useful modules to assist us in managing various business processes that we have. But of all the existing modules, there is one main modules that are very important and need to be implemented, namely the Financial module (FI).
Financial Module is one of the most important modules owned by ERP system such as SAP. This module is specifically designed to meet all the requirements for accounting and finance in a company. Each company must have had their financial report each of which aims to provide information concerning the financial position, performance and changes in financial position of companies that benefit a large number of users of information in making business decisions. That’s why for a large company that has many business processes will require the help of a system such as SAP.
Basically, the accounting world has two reporting systems can be divided into management accounting and financial accounting.
Management Accounting (Controlling) was ideal with system performance as well as measurement of how effectively the system. Own standards specified by the user is determined by how the user to calculate and to set up standards.
While Financial Accounting is a financial reporting system that will be provided to third parties. In financial accounting, the existing standard has been set. Thus almost all companies use the same calculation method.
But whatever the system report that is being used, if not using the help of a system such as SAP, the report will be prone to have inaccuracies in data presentation. In addition we also can not see the data directly.
In contrast to if we use a support system such as SAP Business One in which the data in the show to be very accurate. Moreover, we can see the data that we want in real time. Surely this will be very beneficial to our business. So when you begin to switch to using the help of an ERP system?