Money Management Processes In Opentaps System

Money Management Processes In Opentaps System

In Any ERP  and CRM system, an  Financials module includes called as  accounting system, and also the functionality of analysis and reports ,bookkeeping associated with business "financials".

But, The finance module in opentaps comes with a big difference, it is already fully integrated with every process of business operations you have chosen to use in the opentaps system.

The value of this for small business owners is very important. Instead of worrying about the mechanics of preparing financial reports, accounting routines and accounting tasks, you can focus on the really important things like:

1). Drive the business where you want it to go.

2). Keep focus on sales Productivity and marketing Programs.

3). Improve production activities

4).Dealing effectively with the dynamics of your market and competition,

5). Planning the resources and money you will need for your business trip

Basics of Accounting

In this image, we can see some basic accounting elements that are visible at the "Tab" level in the accounting system of opentaps:

i) Ledger and Chart of Accounts

ii) Accounts payable

iii) Accounts receivable

iv) Payroll

Some traditional accounting functions are distributed in the integrated system, in areas that actually drive data capture, and the accounting functionality is automated as follows:

i)  Order- It include CRM/SFA or sales order and Purchasing order in Purchasing Module.

ii ) Inventory control - It included in MRP of items, Purchasing, and Warehouse Management.

iii) Cost accounting - It integrated with several cost capturing areas.

iv) Fixed assets accounting - It called Asset Maintenance, refer to Managing Fixed Assets.

Additional, Financials Module Tabs are also provided:

i) Partners Tab - for helps in Sales Partners with Agreements and Invoices,

ii) Reports Tab - for generating Financial and Accounting Reports.

Accounting Tags Feature

Accounting tags are provided in the opentaps system for use with multiple transactions to associate them with an operating unit or analysis category for which you want to generate specific financial reports.

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