Designed for maximum flexibility in all key transaction areas Precise business analysis and effective control Accounting and financial reporting to suit changing business needs Powerful software for processing all customer and supplier accounting Efficient tool for streamlining payments
IBS Financials is a flexible system that changes and grows with your business. The financial applications are fully integrated with your entire business system, offering unique overall control. Mass-update functionality through EDI and general interfaces also maximizes efficiency.
DESIGNED FOR GLOBAL BUSINESS IBS Enterprise for Financial Management includes true multi-currency functionality for any of the world's currencies, with an option for dual system currency for reporting and other uses. The software is genuinely multi-lingual for easy use and the production of documents. Processing and analysis can be done on many levels for an international business, such as company, division, cost center, account group and currency.
A FULLY INTEGRATED FINANCIALS SOLUTION IBS Financials consists of three fully integrated ledgers: the General Ledger, Accounts Receivable and Accounts Payable. IBS Asset Management and IBS Cash Flow Manager, complemented by the advanced Business Intelligence tool IBS Analyzer and IBS Business Intelligence, provide a complete financials solution.
GENERAL LEDGER The General Ledger is designed for efficient, easy-to-use daily accounting and to provide flexible support for management and analysis of company performance and trends. Some features include:
Chart of accounts – Up to 30 alphanumeric characters, divided into eight optional account parts, and language dependant descriptions. Dual system currency – Allows parallel bookkeeping in local currency and corporate currency, with flexible exchange rates. Euro conversion – Complete Intra-stat handling for transition period and handling of euro conversions. Multiple period handling – Post transactions to previous periods according to pre-defined rules, to future periods or current period. Automatic posting – Pre-defined posting rules to minimize operator entry for items such as debtor/creditor controls, discounts, payments, exchange rate gains and losses. Re-valuation – Of balance sheet items in foreign currencies including simulation routines. Journal posting options – Handle accruals, pre-payments, recurring journals and standing orders, calculations, dynamic redistribution, pricing, elimination or copy of journals. Attachments – Link any kind of document as an attachment to an IBS Enterprise object, e.g. attach a corporate accounting instruction in MS Word to a G/L account. Parallel budgets/forecasts – Limitless number of different budgets/forecasts per year, entered manually or using global copy routine with budget uplift facility. Budget distribution curves – User-defined key to distribute budget figures over the year. Cost accounting – Compares actual costs to budget and highlights any deviation. Company consolidation – Flexible function for online consolidation of information in multilevel company structures operating with different system currencies and chart of accounts into corporate format. Report Writer – Run reports or a group of reports any time for any period without interrupting operations. Works across IBS Enterprise and across company structures. User-defined and distributed balances – New balances, to be included in reporting and analysis, can be created based on existing balance types, values from external systems, as well as manual values. Cost allocation routines – Automatic routines for cost allocation, recharges and period adjustments. Inflation accounting – Automatically calculate inflation gains and losses and assign them to inflation accounts. Error correction – Interactive online error correction before resuming update of journals suspended due to transaction errors. Numerous inquiries – Accessible from any program, with drill-across functionality for following a G/L transaction to the prime document. VAT and Intrastat – User-defined on balance level, with drill-down access to transaction files and user-defined key values for many columns. Handling and reporting. Year-end closing – Procedures with automatic postings of clearing accounts and opening balances.
ACCOUNTS RECEIVABLE AND ACCOUNTS PAYABLE The sub-ledgers have been developed to mirror one another, offering extended and secure functionality in each sub-ledger's specific area. A specialist in one area can easily master the other, processing business activities with low staff requirements. The major processing options, with many user-defined parameters, are listed below.
BUSINESS PARTNER SET-UP IBS Business Partner set-up allows you to store the name and it’s shared by all IBS Enterprise applications. You can profile all vendors or business partners based on their credit status considering both limit and payment behavior. Additional features include:
Business partner structure – Arranged in tiers of Holding, Parents and subsidiary companies. Structure allows postings to account or debtor and includes group credit warnings, price search stops, inquiries and listings. Default currency – Prime trade currencies can be defined per customer/supplier account. Authorizing person – Records the normal authorizing person per supplier. Payment terms and methods – Determines terms of trade and settlement discounts, and preferred payment methods. Bank account number control – Program for validating entered bank accounts. Reminder letter with pre-defined level and timing. Sundry customers/suppliers handling.
INVOICE PROCESSING
Integrated sales invoice posting – Automatic posting from complementary IBS Distribution applications or other invoicing systems. Rebate handling – Automatic A/P credit document regarding commission and rebates, to be sent to supplier. Interface routines for full validation and error reporting. Group documents – Gathers several invoices into one, with one due date and reminder amount. EDI – Full support for electronic invoicing and payments. Stepwise purchase invoice processing – Preliminary invoice processing or direct, immediate posting to final coded, authorized invoices. Invoice matching – of details against purchase order and delivery note, with automatic calculation of purchase variances. Integration of asset entry – with IBS Asset Management. Multiple VAT handling rates – Meets country-specific regulations with enhanced EU or Intrastat abilities. Installments, recurring payment dates – Multiple payment dates on one invoice. VAT and Intrastat – Automatic VAT handling and Intrastat recording for intra-EU trade.
OUTGOING PAYMENTS
A/P payment proposal mechanism – Available for control of supplier payments. Use selection criteria – Facilitates preparing proposals. Range of suppliers/groups, payment dates, countries, currencies, payment methods and bank accounts. Unauthorized invoices check – Includes unauthorized or stopped invoices to check overall position without making payment. Manual adding of invoices to proposal outside selection criteria. Nil and negative balances can be included in proposal. Unlimited number of payment proposals is supported. European support – For most European automatic bank transfer systems – BACS/GIRO. Payment methods – Unlimited number of supplier payment methods in one proposal. Proposals weigh all criteria – Include interest earned and early payment discounts, to give most favorable settlement date. Multiple IBS Enterprise calendars – Different calendars to handle bank holidays. Remittance advice – Automatically produced by payment run update, making payment in required media type, and posts to G/L. Re-opening of settled invoices – supported.
INCOMING PAYMENTS
Order summary and settlement – Linking an order to a payment, or vice versa. Automatic write-off of small residual balances. Batch payment interface – Routines to automatically process customer payments from bank systems. Multi-currency settlement with currency-independent processing. Automatic settlement of all open items – within a specific selection based on due date, currency, etc. Linking IBS Distribution debit/credit notes with open A/R items triggers automatic settlements. Payment entry and difference handling – On account, or posting miscellaneous receipts directly to the General Ledger's income code. Check writer – supported. Automatic calculation and posting – of realized exchange rate variances. Split posting and allocation – to facilitate bank paying-in schedules.
DRAFTS AND BILLS HANDLING IBS has extensive functionality, including draft proposals for submission and customer acceptance. The bills portfolio function creates and remits a bills portfolio of accepted drafts for bank encashment or discounting.
CREDIT MANAGEMENT Using IBS Distribution's invoicing with IBS Financials' Accounts Receivable enables effective credit control and management.
Automatic system hold and release – Deliveries withheld if credit limits exceeded or payment overdue. Customer credit profile – Available to compare customer credit limits and payment behavior to account balance and outstanding orders at order entry. Customer documentation – Full range of customer credit management documentation. Highlight slow payers supported. Notepad facility – Unlimited free-format customer/supplier notation. Can be attached at document level. Supplier invoices – Can be included in A/R statement of accounts for customers who are also suppliers. Re-ageing of open documents – Easily adjust due dates and several payment parameters for groups of invoices. Several severity levels – For reminder letters produced in system language or customer's language, with user-defined free text. Interest invoicing – Invoices of overdue interest can be generated automatically.
INQUIRIES Comprehensive inquiries include: Business Partner file details, balances and transactions – Advanced selection options to view and analyze A/R and A/P status on multiple levels, including credit time axis.
Online age and Cash Flow analysis in customer/supplier and default currency. Online credit control and follow-up – Relevant information for the credit manager gathered in one place. Notepad facility – Browse agreements and notations. Customer/supplier statistics – Available for history of invoicing, payments and average payment time. Drill-down and drill-across facilities – Drill down from particular invoices/payments to detailed G/L postings or across to the original invoice document.
LISTINGS AND REPORTS Accounts Receivable and Payable provide extensive reporting capabilities including:
Cash flow and age analysis Customer/supplier lists and labels Detailed balance list Transaction listing Open item revaluation report Payment statistics list Reconciliation User-defined Report Writer reports Purchase variation lists
Cash Flow Allows you to view all types of incoming and outgoing payments on a daily level. Cash flow forecasts are based on a customer's payment behavior. Each customer's average days sales outstanding are calculated.
