Automatic recording of all transactions in accounting
In SAP Business One, each transaction document is pre-defined with proper account numbers. As a result, when the document is drawn up, the program itself makes the proper accounting entry. However, the accountant still has the ability to manually enter company-specific non-standard transactions, which are also reflected in the statements in full. In addition, for periodically recurring transactions, such as leasing, the program provides a template that ensures that the relevant transaction is entered in a timely manner from month to month. As a result, the accountant’s manual work and the probability of errors are reduced.
In SAP Business One, the unique card of each long-term asset includes its accounting parameters: asset class, useful life, depreciation method, etc. Assets with similar parameters are grouped together. In addition to the automatic accrual of depreciation on assets, other transactions related to property, plant, and equipment are also recorded: relocation, grouping and breakdown, purchase-sale, write-off, repair, and capitalization.
In addition to standard long-term assets, the program may also include low-value mobile fixed assets, which are accounted quantitatively, in terms of responsible persons and projects.
The following financial statements are automatically generated in the program: Trial balance, Balance Sheet, Profit and Loss Statement, Cash Flow Statement, with both direct and indirect methods. It is possible to create several versions for each statement.
In addition to the basic financial statements, the program also generates statements related to taxes, which will ease the declaration process:
BDO Consulting LLC, a Georgian limited liability company, is a member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms.
BDO is the brand name for the BDO network and for each of the BDO Member Firms.
