accounting

Accounting is a procedure for the numerical recording and control of all operational processes. Part of the accounting system is bookkeeping (mandatory) and the cost accounting (voluntary). In bookkeeping in accounting, entrepreneurs are obliged to collect receipts, keep records and store them for seven years. The integrated finance is an essential building block in a good ERP software.

SAP Business One provides a comprehensive, integrated solution for accounting:

Integrated financial accounting

Financial accounting in SAP Business One is fully integrated and covers all key business processes. This integration enables seamless data transfer between different areas of the company and automates many tasks in the accounting process.

Central functions

Chart of accounts and journal entriesThe chart of accounts is the basis of the accounting system and manages all of the company's G/L accounts. SAP Business One offers both predefined charts of accounts, which are based on national regulations, and the option of creating customised charts of accounts. Charts of accounts to create.
Automated bookingsTransactions in the areas of sales, purchasing and bank processing are automatically transferred to the journal. However, manual entries can also be made for additional flexibility.
Accounts payable and accounts receivable: This function allows efficient management of requirements and liabilities directly in the system.

Advanced functions

cost accountingThe integrated cost accounting enables a detailed allocation of costs to specific cost centres, dimensions and projects.
asset accountingThe asset accounting is kept as a subledger and facilitates the management and monitoring of fixed assets.
Budget managementCompanies can use budget management to define planned expenditure and regularly compare this with actual expenditure.
Bank statement processingThis function facilitates the creation and management of incoming and outgoing payments as well as internal and external reconciliation.

Reporting and analysis

SAP Business One offers a wide range of real-time reporting functions that provide transparency about Profit and losscash flow, maturities and profit centres. This gives companies a clear overview of their financial situation at all times and enables them to make well-founded decisions.

Compliance and taxes

The system supports compliance with international accounting standards and offers automatic functions for calculating and processing VAT. In addition, the creation of XInvoices which is important for the exchange of invoices with public clients in Germany.

Versino Financial Suite

the Versino Financial Suite extends SAP Business One's accounting system with practical functions that are specially designed for SMEs. It offers automated accounting processes, such as automatic journal entries, period-based accruals and user-friendly fast entry of incoming invoices. The integrated Financial Cockpit enables real-time analyses with drill-down to individual documents. The Versino Financial Suite also provides a GoBD/DATEV-compliant data export interface, supports electronic invoice formats (e.g. XRechnung, ZUGFeRD) and offers extended reports for cost accounting, profit centre management and liquidity analysis. The suite therefore significantly increases efficiency, compliance and transparency in financial management.

FAQ-FINANCE-SAP BUSINESS ONE