SAP Business One Software has proved to be an affordable solution to manage your business operations in an integrated single solution, from purchasing to inventory management, financials to sales & customer relationships. Without any doubt, it can deliver business processes amazing experience to the in-house teams, but there are many things that most businesses do not expect they can do with SAP Business One Software.
Employee Expense Reimbursements Management
Managing employee expenses, salaries and other payables may be a matter of concern for most businesses; many would choose to outsource the task to finance outsourcing companies. As a business owner, you would want to ensure that all the expenses are recorded properly in a centralised system while ensuring that the expense and payable accounts are correct.
Thanks to the advanced financial management feature of SAP Business One, it’s now possible for businesses to set up an unlimited number of custom, predefined expense types to streamline this process. This feature allows you to specify the name, general ledger account, apply a tax code and more. The Business Partner Type for Employee functionality in this system ensures better management of employee expenses and reimbursements.
Managing Month-End Accruals for Goods (Shipped but Not Yet Invoiced)
When it comes to ensuring the accuracy of your financial statements, the management of month-end accruals is very important. For almost every business it is crucial to ensure a month-end adjustment, especially when the delivery of products and the issuance of the AR invoice occur in different posting periods. Month-end adjustment helps reclassify these amounts from the profit and loss statement to the balance sheet. You may need to investigate the transactions which require reclassification and then moving ahead with the next step of preparing a journal voucher with supporting documentation.
SAP Business One Software allows enabling Shipped Goods Account where you can post the inventory delivery directly instead of the COGS account. This will reflect the accurate balance sheet, instead of the profit and loss statement, which helps minimise the risk of misstated financial statements.
Change The Sequence Of Items Within Sales Quotation And BOMs
This is one of the most advanced features that one can expect with SAP Business One software, the ability to move line items around a list of the raw materials, quantities, and sub-components. It is easy for users to change the sequences of items within the sales quotations and BOMs. The process is quite simple, users select the concerned item that needs to be moved. It is also very easy for users to structure the list in an organised manner for bills of materials. SAP Business One software also allows the use of the arrow to move items and do the desired changes.
Final words
The above-mentioned are just a sample of the intuitive features that place SAP Business One above entry-level ERP systems. However, these features will not save a business from a poor implementation of the SAP Business One system. CitySoft Consulting has the proven experience in SAP support and successful implementation track-record for anyone considering beginning an SAP Business One ERP project or for businesses transferring their current Business One support to CitySoft. SAP Business One has been designed to simplify the work lives of professionals & employees and that simplicity starts with the right SAP Business One partner.
