Where an ERP system can help with accounting

From a ten-man business to a large corporation - all companies have one thing in common: the legal requirements that demand a well-organised accounting system. If you don't carefully comply with the relevant regulations and deadlines, the tax office will be at your door. And that can be an expensive visit. So expensive, in fact, that most companies employ one or more accountants and call in external tax consultants for their bookkeeping. But even a ERP system can be a good help.

Duties and taxes always in view

An essential obligation for companies is to pay their taxes in the correct manner and amount. Trying to master accounting with spreadsheet systems takes a lot of time and patience. An ERP solution with integrated accounting can automate these messages. This saves time and minimises errors. This makes it possible to submit the tax on time with all documents.

Versino Financial Suite for SAP Business One Finance

Digital Document management as a supplement to accounting

Speaking of documents: invoices, orders, reminders. All of this needs to be filed properly and in a way that is easy to find. However, one or two documents can disappear into the depths of a folder years later. A DMS system not only offers suitable filing and search functions. Documents with a retention obligation can be stored digitally and retrieved quickly when they are needed.

Liquidity and dunning

This area only serves indirectly to fulfil government regulations. Nevertheless, an overview of the company's liquidity and incoming and outgoing payments is crucial for a company. In case of doubt, too careless handling of the Cash flow be considered negligent and therefore punishable by law.

If the cash flows are clearly documented in the accounting system, expenditure on materials or employees, for example, can be planned in a targeted manner. The Dunning. But there's no getting around this tedious part. With an ERP system, you can automate the dunning process. Letters are simply saved as a template and sent according to the dunning level. In addition, delivery blocks can be set up, for example, which are only cancelled when payment is received.