Enterprise Resource Planning: Jury Assignment Anagha Sasidharan Bft/16/275 RAHUL M BFT/16/294

ENTERPRISE RESOURCE
PLANNING
JURY ASSIGNMENT
ANAGHA SASIDHARAN BFT/16/275
RAHUL M BFT/16/294
TOPIC :
ERP FINANCE
MODULE
Introduction
 ERP, or enterprise resource planning, is a modular software system

designed to integrate the main functional areas of an organization's
business processes into a unified system.
 An ERP system includes core software components, often called
modules.
 ERP software has a common central database from which the various
ERP software modules access information, some of which is shared with
the other modules involved in a given business process.
 Organizations choose which core modules to use based on which are
most important to their particular business.
HUMAN
RESOURCE
FINANCE &
ACCOUNTIN PLANNING
ERP G
MODULES
INVENTORY ERP
MANAGEMEN CRM
T
SALES &
REPORTING
MARKETING
WHAT IS FINANCE?
 Finance is the lifeblood of business organization.

 The management of large amounts of money, especially by
governments or large companies.
 The science of the management of money and other assets.
 The management of money, banking, investments, and credit.
 The supplying of funds or capital.
FINANCE MODULE
 Financial module impacts all others modules. It also provides the

basic pulse of an organization. Other modules cannot be
implemented without the financial module in place. Successful
implementations of financials show up immediately reinforcing the
faith of an organization in ERP.
 All transactions are available from any device and in any location.
No handwork and no mistakes in making the calculations.
Complete transparency and everlasting records of the transactions
make a financial module a valuable tool.
INPUT AND OUTPUT
 Input Include:  Output include:

 Payments from customers  Payments to suppliers
 Account receivable data  Financial reports
 Account payable data  Customer credit data
 Sales data
 Production and inventory
data
 Payroll and expense data
FINANCIAL ACCOUNTING
SUB SYSTEMS
OF GENERAL LEDGER
FINANCIAL
MODULE. ACCOUNTS RECEIVABLES
The financial sub ACCOUNT PAYABLE

systems of most
ERP involves ASSET ACCOUNTING
these modules
LEGAL CONSOLIDATION
CONTROLLING
 The objective of a
good Financial accounting
system is to provide company
wide control and integration of
Financial information that is
FINANCIAL essential to strategic decision
making.
ACCOUNTING
 The Financial accounting
module of an ERP System, gives
you the ability to centrally track
financial accounting data
within an international frame
work of multiple companies,
languages, currencies and
charts of accounts.
example
 The General Ledger module is the
foundation of your accounting
GENERAL system, with flexibility that meets
LEDGER the current and future financial
management requirements of
organizations of all types and
sizes. It is the main accounting tool
 It provides a robust feature set
designed to handle your most
demanding budgeting and
processing needs. General Ledger
fully integrates with all modules
and is the key to maximizing the
efficiency and accuracy of your
financial data
ACCOUNTS  With a custom ERP system it will be
PAYABLE able to quickly register all new
MODULE invoices It will also track and
authorize all the incoming invoices.
(AP)  It will have a user-friendly form for
approving invoices or it can have an
automated generation of invoices
depending on the situation. And it
will also have a classification for
accounts.
 It provides the functionality to enter,
monitor, maintain and process for
payment of invoices and credit
notes, that the organization
received from its vendors.
 A simple way to track invoices
that are for customers that you
are waiting for payments from.
 Here you will also have a
ACCOUNTS classification of accounts. You
RECEIVABLES may have a credit
management system that
works in real time.
 You may add reports with the
analysis, statements about the
customers and interest for
postponed payments.
 A key moment here is
reminders about the unpaid
invoices.
 Managing fixed assets is one of
the key things that is performed
ASSET by the financial module. Here
MANAGEMENT you have a register for the
assets with all the transactions,
solving fixed asset depreciation
for the reports and asset
revaluation. The key functions
of the AM are investment and
disposal, regular revaluations of
the fixed assets and insurance
information.
 Using different valuation
methods , company can plan
balance sheet strategies to suit
LEGAL its requirements.
CONSOLIDATION  The sub system is closely linked
to the financial accounting
system, permitting direct data
transfer from individual
statements into the
consolidated statements
required by the law
 These statements provide an
overview of the financial
position of the company as a
whole
 Controlling enables the possibility
to plan the financial parameters
of the company and offers both
CONTROLLING proactive capabilities for early
warning if they become negative
and complex analysis tools to
identify factors of influence
 It offers a versatile information
system with standard reports and
analysis path for the most
common questions.
 In addition there are features for
creating custom reports to
supplement standard reports
Benefits of using ERP Business
Accounting Software:
 Improve corporate governance and transparency: ERP Financials

provides broader support of accounting standards, federal
regulations, and improved administration of internal controls.
 Improve financial and managerial reporting: ERP Financials gives you
the flexibility to report performance by business unit, organization, or
cost center.
 Optimize global cash management: With ERP Financials, you

can report, analyze, and allocate cash in real time, and find
payment center.
 Improve cash flow and liquidity: ERP Financials automates
dispute, credit, and collections management – and offers
electronic invoicing and payment capabilities that supplement
traditional accounts receivable and accounts payable
functions to accelerate and manage cash flow.
 Improve corporate performance: ERP Financials provides the

foundation to quickly read, evaluate, and respond to changing
business conditions with accurate, reconciled and timely financial
data.
 Achieve faster closes: With ERP Financials, you can streamline
accounting, consolidation, process scheduling, workflow, and
collaboration.
 Improve process integration between finance and treasury: With

ERP Financials, you can integrate risk and treasury transactions with
core accounting and financial reporting processes.
 Reduce overall finance costs: ERP Financials helps you operate
effective shared-services, collaborate with customers or suppliers,
and streamline operations to reduce costs and resource demands
SCOPE
INVESTMENT OPPORTUNITIES
PROFITABLE OPPORTUNITIES
OPTIMAL MIX OF FUNDS
SYSTEM OF INTERNAL CONTROLS
FUTURE DECISION MAKING

INVESTMENT OPPORTUNITIES
 Investment can be done by:

 Creating physical assets with the money (such as development of
land, acquiring commercial assets, etc.),
 Carrying on business activities (like manufacturing,
trading, etc.), and
 Acquiring financial securities (such as shares,
bonds, units of mutual funds, etc.
PROFITABLE OPPORTUNITIES
 In Finance, Profitable opportunities are considered as an important

aspiration (goal).
 Profitable opportunities signify that the firm must utilize its available
resources most efficiently under the conditions of cut-throat
competitive markets
 Profitable opportunities shall be a vision. It shall not result in short-
term profits at the expense of long term gains
OPTIMAL MIX OF FUNDS
 Finance is concerned with the best optimal mix of funds in order to

obtain the desired and determined results respectively.
 Primarily, funds are of two types, namely,
 Owned funds (Promoter Contribution, Equity shares, etc.), and
 Borrowed funds (Bank Loan, Bank overdraft, Debentures, etc).
SYSTEM OF INTERNAL CONTROLS
 Finance is concerned with internal controls maintained in the

organisation or workplace.
 Internal controls are set of rules and regulations framed at the
inception stage of the organisation, and they are altered as per the
requirement of its business.
 However, these rules and regulations are monitored at various
intervals to accomplish the same which have been consistently
followed
FUTURE DECISION MAKING
 Finance is concerned with the future decision of the organisation.

 A "Good Finance” is an indicator of growth and good returns. This is
possible only with the good analytical decision of the organisation.
 However, the decision shall be framed by giving more emphasis on
the present and future perspective (economic conditions)
respectivel
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ENTERPRISE RESOURCE

 ERP, or enterprise resource planning, is a modular software system

 Finance is the lifeblood of business organization.

 Financial module impacts all others modules. It also provides the

 Input Include:  Output include:

The financial sub ACCOUNT PAYABLE

 Improve corporate governance and transparency: ERP Financials

 Optimize global cash management: With ERP Financials, you

 Improve corporate performance: ERP Financials provides the

 Improve process integration between finance and treasury: With

OPTIMAL MIX OF FUNDS

SYSTEM OF INTERNAL CONTROLS

FUTURE DECISION MAKING

 Investment can be done by:

 In Finance, Profitable opportunities are considered as an important

 Finance is concerned with the best optimal mix of funds in order to

 Finance is concerned with internal controls maintained in the

 Finance is concerned with the future decision of the organisation.

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