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Financial Management (FM)

  • General Ledger Accounting

  • Accounts Receivable
  • Accounts Payable
  • Asset Accounting
  • Bank Accounting
 
SME Journal Financial Management
Financial Management

Financial Management provides real-time fiscal information anywhere and on any device. When needed, we make it easy to communicate financial information to external partners. Our flexible accounting and finance tools can gather data and generate reports—which improves insight, automation, and compliance within your organization. We help you develop expansive functionality that supports multiple locations, currencies, companies, and tax codes. We empower managers by streamlining business intelligence so they can achieve optimal fiscal performance.

 
Benefits
SME Journal Error Free

Freedom from Duplicate Data Entry Troubles

Removes the process of tallying information between separate systems

SME Journal Real Time Data

In-depth Insights from Real-time Data

Provides you with in-depth visibility into the fiscal health of your organization.

SME Journal Transparency

Complete Transparency of Financial Information

Accessible, complete, and accurate monetary information

SME Journal Reporting

Robust Reporting Capabilities

Includes built-in and customizable filters that can be applied as needed for quickly generating accurate financial reports

SME Journal Fewer Human Errors

Fewer Human Errors

Reduces the risk of generating incorrect invoices or paying more or other accounting issues that arise from inappropriate data input.

SME Journal Financial Data Security

Financial Data Security

Provides multi-layer security to the stored information and provides role-based access to authorized users to prevent security breaches

SME Journal Workflow Automation

Workflow Automation

Simplifies the activities related to accounts payable and accounts receivable, removes cash flow issues, and improves cash management

SME Journal Accounting Management

Manage All Your Accounting and Financial Needs

An efficient way to manage financial information, monitor costs, measure revenues, and oversee other aspects of your accounting process

 
Modules
SME Journak General Ledger

Accounts Receivables

Accounts receivables is a submodule that captures all transactions with customers and manages customer accounts. Separate customer accounts will be maintained and when transactions are posted in customer accounts, reconciliation accounts in the general ledger are updated with the figures in real-time. Transactions in accounts receivables include invoice posting, credit memo posting, down payments, invoice payment, and executing customer reports.

Accounts receivable allows your business to manage all of the funds customers owe them. It will track customer payments as well as manage invoices and cash.

General Ledger Accounting

All general ledger accounts that are used for reporting are managed through general ledger accounting. Chart of Accounts can be set up in the system which are accounts that will be used for the preparation of financial statements. Most of the transactions are recorded in sub modules and they are reconciled with the general ledgers in real time. Transactions that can be done in direct in General Ledger Accounting include journal vouchers which are posted to adjust or correct transactions. Reversals can also be done from general ledger accounting. Balances in general ledger accounts can be displayed and trial balances extracted from the system.

SME Journal Accounts Receivable
SME Journal Accounts Payable

Accounts Payable

Accounts payables is a sub-module that captures all transactions with vendors and manages vendor accounts. Separate vendor accounts are maintained and when transactions are posted in customer accounts, reconciliation accounts in the general ledger are updated with the figures in real-time. Transactions in accounts payables include invoice posting, credit memo posting, down payments, invoice payment, automatic payment program, and executing vendor reports.

Accounts payable will manage all of the funds your company owes to your vendors and other creditors. An accounts payable feature integrates your payable data with your purchasing system so you can take control of your cash flows. Automating accounts payable will save you money and time on labor hours as well as avoid human errors. 

Asset Accounting

Asset accounting manages all transactions related to assets for an entity. When transactions are posted in asset accounts, reconciliation accounts in general ledger are updated in real time. Transactions in asset accounting include asset acquisition, asset retirement, asset sale, asset transfer, asset revaluation, and asset depreciation.

Asset management gives your organization better visibility in terms of utilization, costs, and maintenance. For example, keeping track of the depreciation of your assets can help you forecast expenditures and create budgets. If you are aware that your equipment is aging and may need maintenance soon, you can plan accordingly for those payments.

SME Journal Fixed Asset
SME Journal Bank Accounting

Bank Accounting

Bank accounting captures all transactions with the banks. Bank reconciliation is done to reconcile all transactions recorded on bank statements comparing them to transactions in the system.

 

All sub-modules are integrated and transactions are updated in real-time which means accurate financial statements can be extracted from the system at any time.