Purchase Invoice Processing manages all aspects of the purchase ledger, including the receipt and registering of the supplier invoices, the matching of the values, coding and processing of invoices through to the finance package for payment. Coding rules can be applied and manually overridden while the system also allows for the processing of both material-based and service-based invoices.
Sales Invoice Processing manages all aspects of the sales ledger, including the creation of the invoice to the customer. For work-order based invoicing, the system provides billing functionality to define the pricing of materials, labour and services before processing the invoice. Invoice sign-off and approval can be applied based on limits and multi-level authorisation. Once automated or manual coding is applied, an invoice can then be passed through to the finance package for payment collection.
Period End Processing handles all transactions in the system that are stamped with a financial period, enabling the system to provide financial-based analysis and reports for the current and historical periods. The period end control allows the period opening and closure to be managed and also audited and published at the end of each period.
Financial Valuations manages all aspects of valuations. All financial transactions in the system are based on real-time journals for all transactions related to materials, labour and services. This provides the ability to generate instant valuations for: current stock, work in progress, and the cost of sales and accruals. Material valuation is based on actual cost.
Fixed Asset Management manages the fixed asset list for a business, which may include both aircraft related assets as well as plant and equipment.
The system manages the list and the procurement of each of the assets and allows for a depreciation method to be applied to each of the assets.
Multi-Company supports the ability to manage multiple companies and because the system has multi-company capability it enables a user to control the system and manage multiple financial entities within the one solution. All financial transactions are company specific including the stock, which provides the ability to manage, process and analyse finance at a multi-company level.
Multi-Currency enables the processing of incoming and outgoing financial transactions in any currency, while publishing financial reported figures in the currency of the company. The control and update of the exchange rates can be based on a real-time interface / web service within the finance package or through an external source.
Chart of Accounts provides the ability to manage and control the Company Chart of Accounts. This will include the suppliers and customers as well as the general ledger codes used for financial transactions. The update and management of these is via the financial package interface.
Analysis Codes and Dimensions module supports the ability to provide financial code breakdown of transactions to support the financial reporting requirements of the business. Analytical codes can be multi-dimensional with no restriction on the levels. Each dimension can be linked to transaction rules, such as cost centre and department, as well as down to specific registrations. The codes are applied based on business rules and will form part of the transfer journals posted to financial package.