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Financial Management System (FMS)

Fundamentally different from other computer-based and cloud-based accounting system, It goes beyond basic accounting by providing reports and ready to use analytics and dashboard. The simple and precise transaction screen helps in optimizing the business process.

Financial Management System

Helix Financial Management adds greater value to a business, increasing efficiency and insight through access to real-time fiscal information anywhere and on any device. Robust reporting and analytics enable sound and faster decisions. This paves the way to grow business with expansive functionality that supports multiple locations, currencies, companies, and tax codes. The capabilities of the Helix Financial Management are expansive and offer flexible accounting and finance tools that improve insight, automation, and compliance within organizations. Reporting and analytics tools enable managers to make the right decision and drill down deep into the details for a better understanding on how to best leverage business intelligence to achieve optimal fiscal performance.

Financial Management Module Outline:

  • Accounting and Budget

  • Billing, Collection Receipts and Accounts Receivable

  • Credit and Collections

  • Accounts Payable

  • Cash Management

  • Asset Management

Accounting and Budget

Helix Financial Management provides flexible financial accounting representations through multiple book functionality, which flows all the way through to financial reports and statements. “Multiple Books“ allows the establishment of unlimited financial books to support a wide variety of financial requirements, such as budgeting and forecasting, statutory and government accounting versus management accounting, and comprehensive consolidations. Helix Financial Management provides the tools to seamlessly handle the accounting representations from your various subsidiaries while at the same time giving you a consolidated view of the one version of the financial truth for your organization.

Helix General Ledger (GL) is the heart of Helix Financial Management, processing and posting all accounting transactions created throughout Helix applications, as well as entries made directly within the ledger. The information and controls which flow from the General Ledger system enable an organization to operate efficiently, comply with fiscal regulations, underpin strong corporate governance, and drive enterprise performance. This powerful GL application provides the accounting controls and system security necessary to help ensure the integrity of your company’s financial data. Complete functionality includes:

Key highlights and benefits of using Multiple Books within your company:

  • Chart of Accounts – Create a different chart of accounts by book, post transactions to different accounts within different books simultaneously using the posting engine.

  • Reporting Currency – Have a different reporting currency tied to each book and even, if ever needed, assign a different period calendar to each book. This flexibility allows users with a single journal to process both the management accounts and the statutory accounts at the same time without the need for multiple transaction entry.

  • Multiple Closing Calendars – As businesses acquire new businesses there is often a need to maintain different calendars for “stub“ periods or for example up to 18 months to bring the acquired company in line with the fiscal calendar of the acquiring business. Each established book can operate a completely independent fiscal calendar as applicable.

  • Calendar Adjustment Period – General Ledger has built-in support for an additional year-end period to be defined as a part of your calendar that will be used for year-end adjusting entries.

  • Chart of Accounts – Financial Management allows up to 8 user-definable segments within the chart of accounts (COA). These can be used for accounting and reference purposes providing the ability to record, store, allocate and report on important financial data at a highly granular level. With a total of 200 characters available, Helix gives you the flexibility to manage your financial operations exactly as you need.

  • Balance Controls – Helix Financial Management allows users to define the frequency at which balances on accounts are captured and stored. Often used to facilitate the calculation of Average Daily Balances, this flexibility enables the user to update account balances as frequently as required by the organization: by the hour, by day, by week, or by month.

  • Consolidations and Eliminations – Helix Financial Management meets the needs of businesses today through integral financial consolidation at either a summary or detailed transaction level, providing the flexibility to consolidate from different books and/or companies within a defined relationship

BIR Tax Reports

Helix Tax Connect gives Helix ERP the option of determining sales taxes automatically based on the origin and destination of the sales transaction. It integrates to a constantly updated, comprehensive, online database of tax rules where each tax transaction can also be stored for historical and reporting purposes. 

Collecting and remitting sales and use tax is a government-required, compulsory activity. It doesn’t drive revenue, and it doesn’t reduce expenses, so any time or money spent on tax compliance is—by nature—non-profitable.

LIST OF BIR REPORTS

  • BIR Form 2307 – Certificate of Withholding Tax

  • MAP – Monthly Alpha List of Payees

  • BIR Form 1604E – Yearly Return for EWT

  • BIR Form 2550M – VAT Return (Monthly)

  • BIR Form 2550Q – VAT Return (Quarterly)

  • EWT Report – Schedule of Withholding Tax

  • EWT Report Quarterly – Quarterly EWT Schedule

  • Input VAT Report

  • Output VAT Report

  • BIR Relief (Purchases and Sales)

  • Expanded Withholding Tax Report and Forms

  • Books of Accounts

  • Purchase Journal

  • Disbursement Journal

  • General Journal

  • Sales Journal

  • Cash Receipts Book

 

 

Advanced Financial Reporting

 

Helix Advanced Financial Reporting (AFR) allows the creation and distribution of professional financial reports to company stakeholders. AFR fully supports both cloud and on-premises Helix ERP deployments. It allows the management and viewing of financial data in a user-friendly environment. Financial reports are different from other reports, because each line has to be defined in terms of account ranges or sets for which a certain total needs to be calculated— versus other types of reports which do not require definitions of such complex groups. AFR simplifies report creation by exposing an intuitive interface which speaks to the user in familiar financial terms. Because the reports are parameter driven, the viewer can generate the report at any time by selecting the parameters of time, company, book or organizational element as required without the need for intervention by the financial team. Complete Advanced Financial Reporting functionality includes:

  • Flexible graphical report designer

  • Easily tailor vertical and horizontal report elements

  • Visual representation of reporting hierarchy is available with the reporting tree

  • Report against single book or multiple books

  • Consolidation of enterprise-wide data

  • Drill down into operational summarizations of key business units; drill down all the way to the transaction level

  • Report viewer

  • Non-financial data support

 


Descriptive Analytics (Business and Financial User Reporting/Dashboards)

Let every department learn from its data with self-service summaries, animated and interactive data visualization, and tools to simplify report creation and sharing. Most of the products that fit this category support analyzing larger amounts of data for more historical trending analysis. These products include:

  • Helix Data Discovery – Helix Data Discovery (HDD) is a data visualization tool for the Helix ERP system. With HDD, staff can use their natural visual abilities to quickly spot areas of interest in real-time production data that they might have otherwise missed by just looking at rows and columns of numbers. They can then focus on a data point or area and drill down into the underlying ERP transactional detail.

 

Helix Excel Interface

 

Helix has self-service reporting and analytics add-in for Microsoft Excel that provides out-of-the-box functions for pulling Helix ERP data directly into Excel. It saves you data extraction time and effort by downloading summarized data that you can analyze in-memory without further downloads. Imagine using functions like month-to-date beginning balance or year-to-date net budget to pull in just the data you need based on cell-based parameters like year, period, currency, segments, and reference codes. Dozens of functions combine with drag-and-drop, drill-down analysis sets that already know your data to make report creation a snap. Helix Excel Interface is an all-inclusive product that comes with:

 

  • Pre-built content for financials, sales, materials, and production

  • Multi-currency capability

  • Access to any field in Helix ERP—as permitted by ERP user security

  • Advanced Financial Reporting – Helix Advanced Financial Reporting (AFR) allows the creation and distribution of professional financial reports to company stakeholders. AFR simplifies report creation through an intuitive interface, which allows for the creation of reports using elements familiar to accountants or financial professionals. It also provides an additional element of reporting hierarchy or trees, allowing the viewer to generate the report for a specific business segment. Viewers can generate these parameter-driven reports as needed by selecting the time, company, book, or organizational element as required without the need for financial team intervention.

Executive Dashboard

Executive Dashboard comes with a series of graphical components designed to give you summarized, cubed data inside the Helix ERP system—enabling you to quickly make critical short- and long-term decisions. Executive Dashboard includes Plant Performance, Supplier Performance, Order Backlog, Scheduled Shipments, Shipping Performance, and Cash Flow

 

 

Billing, Collection Receipts and Accounts receivable

Accounts Receivable (AR) provides a comprehensive set of tools to manage your invoicing, credit, cash management, and customer management needs. With Accounts Receivable, you know who is buying what and who is paying their bills on time.

Invoice Entry – Enter multiple shipments for an order on a single invoice, and write unlimited comments. Invoice entry supports advance/ progress billing deposits, credit memos, and standard invoices.

 

Debit Notes – Ability to record Debit Notes (Chargebacks) sent from the customer. Debit Notes may now be entered as part of the AR cash receiving process, and will then have their value applied as part of the settlement process. The Debit Notes may be related to specific invoices or remain unassigned.

The new Debit Note will remain as an open receivable until matched to a credit memo or subsequently paid. In addition, Debit Notes sent by customers can be recorded independently of the cash receipt process – for example, electronically received payments. They can then either be applied or produce an unapplied cash value.

Interest Invoices – Create and apply interest invoices to manually charge an interest amount to an overdue or late-paid invoice. Select a customer and choose the single or multiple invoice lines against which to generate the interest invoice. Additionally, finance charges on invoices can be generated against a customer’s overdue invoice balance. Users have the ability to include or exclude the impact of credit memos when calculating finance charges.

Multiple Payment Instruments – Track the different types of credit instruments such as Promissory Notes and post-dated checks and their corresponding status, from initial generation or receipt through to clearance/ settlement. Track the movements of the payment instruments and generate status change updates within the Accounts Payable and Receivable applications, these changes can be reflected in the General Ledger to properly record to the financial status of the asset or liability. You can track how your customer credit is maintained through the life of the payment instrument reflecting the available credit based on the status and final settlement of the payment instrument. By using this functionality, you can be assured that complex, settlement-related taxes are correctly handled when payment is made via payment instruments.

Invoice Logging and Numbering – Logging allows the recording of invoice details with applicable input tax while the invoice is in the process of review and approval. This allows you to reclaim the input tax in a timely fashion, where such practices are allowed. When an invoice is created, users have the flexibility to allow the system to automatically generate invoice numbers or you can manually enter numeric or alphanumeric invoice numbering schemes at the invoice type level.

Ageing Information and Customer Reminder – View ageing information on the screen or print it in one of several formats. Accounts Receivable offers Customer Reminder features that allow companies to track the history of their customers’ AR balances together with the option to issue them user-defined reminder letters.

Automatic Finance Charges – Finance charge invoices can now be generated against a customer’s overdue invoice balance. These finance charges are automatically calculated based on rules defined within the Finance Charge Maintenance program. The charges can also be reviewed before they are posted.

Bill-To Customer – Provides the ability for a customer to maintain a list of allowed Alternate Bill-to (Alt-BT) customers, optionally with one set as a default. This will default onto the Quote/Order/Direct Invoice and can be changed by the user to a different authorized bill-to customer prior to posting the invoice. If no alternates have been set up then the Alt-BT customer is the sold-to customer (but using the ‘Bill-to address’ on that customer).

Manual Selection of Invoices – A manual selection option to get Invoices and Recurring Invoices is available within Invoice Entry. This allows the selection of particular or multiple invoices or recurring invoices for posting instead of selecting all available items at once.

Credit Manager Workbench – Easily view all credit-related information surrounding a customer. The credit manager workbench provides a single point from which to manage credit status, order credit status and account management, with drill-down to all associated information.

National Accounts (HQ Accounts) – The National Accounts (HQ Accounts) feature provides the ability to create customer relationships, either hierarchical or the more traditional parent/child type, within Accounts Receivable. This functionality allows customers within a National Account group to accept invoice payments from any customer within the relationship. The functionality also permits extensive credit checking across the National Account group with credit available to be split across levels with or without variable pooling.

Flexible Tax Engine – Helix Financial Management contains a feature-rich flexible Tax Engine which allows businesses to configure Helix applications for local and international financial reporting standards, as well as unique local tax jurisdictions. Tax tables within the Tax Engine include the ability to define or override rate effective dates. The Sales Tax Register lists invoice totals and tax amounts by customer for codes on file.

Settlement Discounts – The application contains two methods for handling early settlement discounts on sales and tax values. The settlement amount is taken by the customer on the AR invoice. The potential discount is then included in the tax values calculated for VAT.

Terms and Conditions – Helix supports all of the most common business practice terms and conditions within Accounts Payable and Receivable. This feature also affords great flexibility for the definition of creative receipt and payments terms within countries where this functionality is not necessarily demanded but may offer a competitive advantage. Terms and Conditions are user-defined, but typically include; End of the month plus n days, End of the following month, Specific due dates in a month, 2% 10 days and Net 20 days.

e-BIR Submission – Submit various legal reports electronically, which are based on existing reports such as the EU Sales List, Intrastat and Tax Reporting. You can then reformat generic reports to meet your local requirements. Complete functionality includes:

  • Cash receipts

  • Interest invoices

  • Invoice GL account definition

  • AR transaction adjustments

  • Deferred revenue

  • Consolidated invoicing

  • Automatic credit holds

  • Invoice/statement forms

  • Invoice-based sales commission payment

  • Multi-format sales analysis

  • Credit card management and authorization

  • Settlement currencies

  • Settlement discounts

  • User-friendly invoice and customer tracker

  • General Ledger interface

  • Cash management interface

  • Reconciliation report

Credit and Collections

Accounts Receivable is one of the largest assets of any company, and it’s typically one of its most fluid. Most businesses, however, have to write-off four percent of this asset every year. This is a substantial cost to the business that can be greatly reduced with better management. Take control of your outstanding receivables and reduce days sales outstanding (DSO) through automated AR management. Complete functionality includes:

  • Collection management

  • Centralized activities

  • Collection templates

 

 

Rebates

The optional Rebates module provides you with a way to enter, update, and review any rebate program that your company runs with your customers. Use this module to define the active rebate programs for your company, generate rebate transactions, and pay rebate amounts to your customers through either an invoice check or a credit memo. Complete functionality includes:

  • Rebate transaction process generation

  • Get rebates

  • Rebate-to-AP invoices/memo

  • Rebate contract entry

  • Rebate transaction adjustment

  • Tracker programs

 

 

Accounts Payable

 

Accounts Payable (AP) allows you to enter supplier invoices for purchases that you make, and then create payments for the invoices you want to pay. The system can generate payments for all invoices due, those for a particular supplier, or only for specific invoices. If a supplier calls you to discuss an invoice, you will have complete information at your fingertips, and that history can be kept indefinitely.

AP allows you to update both purchase orders in Purchase Management as well as actual job costs. Adjustments are created if the purchase price does not match the invoiced price. With AP, you will know how much you owe and when it is due.

Invoices, Debit Memos, Payments – Record and post all payables instruments easily, including supplier or vendor vouchers and invoices, debit memos, automated check runs, and manual payments.

Payment Instruments – Track the different types of credit instruments such as Promissory Notes and post-dated checks and their corresponding status, from initial generation or receipt through to clearance/ settlement. Track the movements of the payment instruments and generate status change updates within the Accounts Payable and Receivable applications, these changes can be reflected in the General Ledger to properly record to the financial status of the asset or liability. You can track how your customer credit is maintained through the life of the payment instrument reflecting the available credit based on the status and final settlement of the payment instrument. By using this functionality, you can be assured that complex, settlement-related taxes are correctly handled when payment is made via payment instruments.

Bank Electronic Payments – The ACH functionality in Helix ERP helps to automate cash flow between your bank and the banks of strategic suppliers and main customers. Electronic Fund Transfers (EFT) through ACH contribute to eliminating check fraud to a great extent.

The ACH functionality is currently only available in the U.S. and Canada. The standard (domestic and international) and the Wells Fargo formats are not licensed and available for all users. It works with the Positive Pay capability in Helix ERP, supporting the Bank of Boston, Chase, Fleet, Union Bank, and Wells Fargo systems.

By customizing the standard formats, it is possible for any Helix ERP users to maintain and update the automated payment mechanism easily and quickly, decreasing the time and cost needed for professional services. Multiple banks are supported, allowing to further reduce costs by using different banks for the domestic and international transactions.

The ECH functionality supports direct debit operations that allow your company to collect either single or recurring payments from your customers in an automated way.

ACH is compatible with the Helix ERP Payroll module, so transfers to employees, such as expense reimbursements, government benefits, tax refunds, interest payments it’s fully automated.

AP Terms and Conditions – Helix supports all of the most common business practice terms and conditions within Accounts Payable and Receivable. This feature also affords great flexibility for the definition of creative receipt and payments terms within countries where this functionality is not necessarily demanded but may offer a competitive advantage. Complete functionality includes:

  • Recurring entries

  • Deferred expenses

  • Voided numbers

  • Online cost updates

  • The exchange rate at payment entry

  • Supplier tracker X Supplier statements

  • General Ledger interface

  • Cash management interface

  • Checks X Electronic funds transfer (EFT)

  • Multiple remit-to

  • Three-way match

 

 

Cash Management

 

Improve cash management through the automatic handling and reporting of discounts available, payment due dates, and payment selection methods. This module also allows you to specify the number and type of bank for each of your accounts— including currency—and reconcile your bank statement with entries generated in AR, AP, and payroll. Upload electronic bank statements and automatically reconcile them with transitions in the ERP system as well as performing manual allocations. Complete Cash Management functionality includes:

  • Bank statement processing

  • Fuzzy logic automated reconciliation

  • Soft formats for EFT

  • Petty cash management

  • Cash flow dashboards

  • Credit card processing

  • Integration with industry-leading providers

  • Supports industry standards to reduce fraud

  • Flexible configuration X Transaction flexibility

  • Reauthorize reservation transactions

  • Transaction reports

 

 

Asset Management

Asset Management helps you record, track, and depreciate your fixed assets for optimal utilization. Asset Management also automates the tracking and management of the asset throughout its useful life— from acquisition to disposition. Using a unified source of asset data, standard asset management tasks—such as asset transfers, disposals, reclassifications, and adjustments—can be streamlined. Complete Asset Management functionality includes:

  • Mass maintenance management

  • Asset registers

  • Asset valuations

  • Asset relationships

  • Maintenance

  • Multi-currency management

  • Asset depreciation methods

  • Asset integrations

  • Grants

  • Asset locations

  • Asset import

  • Retroactive adjustment

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