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- Financial Management
Accounts Payable
- Manages the accounts payable process, including amounts outstanding and payments due alert.
- Applies settlement discount.
- Facilitates commission payment for external agents.
- Caters for Foreign Exchanges contracts and advance payment invoices.
Budgeting
- Allows for multiple concurrent ledgers and sales budgets.
- Simple creation using adjusted historical figures.
- Sales budgets on various levels, including customer, item class, item groups, individual items and/or salesperson.
- Compare approved and latest budgets with actual.
Fixed Assets
- Manages fixed asset classes and fixed assets.
- Allocate assets between various business units.
- Maintain book and tax values.
- Scheduled and ad-hoc depreciation entries.
- Asset tracking and reporting.
Financial Ratios
- Analyse financial ratios, for example, the Current Ratio and the Solvency Ratio, in real-time.
Ledger Tax Report
- Manage tax (VAT) from the system.
- Monthly or bi-monthly basis supported.
- Retain workings within the system indefinitely.
- Automated payment via cashbook.
Credit Management
- Control credit limits per organisation or organisation grouping.
- Apply credit limits on order entry and/or invoicing.
Business Units
- Create and maintain an unlimited number of business units (can be profit centres and/or cost centres).
- Maintain and easily modify the organisation’s structure.
- Perform financial reporting at a business unit level and perform consolidations.
- Ledger and system settings are maintained at a business unit level.
Accounts Receivable
- Manages debtors, including statements and debtor ageing, settlement discount and automatic interest calculation on overdue accounts.
- Manages debtor balances and allows for credit management.
Cashbook
- Process payments and receipts made.
- Transfers between cashbooks.
- Performs bank reconciliations.
- Allows for cancelled and not honoured transactions.
- Applies settlements from bank transaction entry.
- Import bank statements for quicker and more accurate processing.
Financial Reporting (ledger-based)
- Design and use any number of general ledger-based reports: balance sheet, income statement and cash flow.
- View financial reports in real time.
- Compare financial reports monthly.
General Ledger
- Set up general ledger per business unit.
- Manage transaction application per ledger account.
Manual Journals and Standard Journals
- Use manual journals for ledger posting where the sourcing process is not managed within Forward ERP.
- Standard Journals provide for manual journals that are performed periodically.
- Use the manual journals also for provisions and accruals that are automatically reversed.
Multi-Currency
- Deal with customers and suppliers in their currency.
- Manage foreign currency cashbooks.
Availability
- The system remains available at all times, and month-end or year-end processes do not require it to be unavailable at these times.