Financial Management for SMBs with SAP Business One

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If you have a small to mid-sized company and are looking for affordable financial planning software, SAP Business One may be right for you. SAP Business One was created as an easy to implement solution that will help your company increase your profits as well as to automate your processes.

Financial Accounting with SAP Business One

Many features are available with SAP Business One financial accounting software. These features include functions to assist you in charting your accounting and making journal entries. Transaction templates can be created to reduce journal entry errors and a recurrent journal transaction report can be created so that some entries can be done automatically. Foreign currency can easily be calculated to avoid any discrepancies in the numbers and balance sheets are created based on specific requests. Profit and loss reports, financial reports and comparative reports are all available with SAP Business One.

Manage Your Accounts Receivable/Payable with SAP Business One

Your tasks from price quotes to invoicing and payments can be controlled through SAP Business One software. This means that you can make entries for orders and returns, create credit notes on accounts, and make notes in regards to picking and delivery of merchandise. The auto summary wizard will allow you to create documents for individual customers based on invoices from transactions. Creating purchase orders, purchase order notes, return receipts, invoices and credit notes can also be managed through the Accounts Payable programs. Keeping better track of your invoices and payments means better accuracy of your numbers and more control of your company.

Control Inventory and Banking with SAP Business One Programs

The receipt feature allows a receipt to be made for any type of payments that your customer may submit. The payment supplier will send your payments to your distributors and the deposits feature allows you to deposit any cash or credit card payments received. The ability to organize and manage your inventory also falls into the capabilities of SAP Business One software. Tracking specific items or creating lists of inventory can all be done through the software. If you need to transfer merchandise between your warehouses you will also be able to keep track of those moves so you know the levels of merchandise available at all times.

Looking at the Downside to SAP Business One

Every company seems to have its faults and SAP Business One is no exception to that rule. The time for implementation may be a bit lengthier than other vendors because of the number of alterations that might need to be made. Because the features of SAP Business One deal with MRP only, there may be some technical issues in the manufacturing module that is available. The original cost of the SAP Business One software is not high but when you have to add on the additional features you may find that you are paying more in the long run than if you would have started with more expensive software.

Looking For More Information?

Check out our Top 15 Accounting Software Vendors report for even more information on SAP and other accounting software vendors. It brings together company details and features into one easy-to-reference report, making your accounting software search easier than ever. Our report is completely free, so don’t pass up on this resource as you compile your research.

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