EMSYS – Financial
Vision
It addresses operational, support, and management processes from a financial perspective for both commercial and budgetary organizations. Supports the process of planning financial resources, allocating and earmarking them to activities, projects, and objectives.
The management of financial resources is carried out in the context of the budget system. The budgeting is based on proposals from the organizational structures in accordance with the operational plan, the maintenance plan, the investment plan, and the procurement plan.
The allocation of budgeted funds is done by management structures with an indication of the destination by budget articles.
Financial Accounting
Dynamically model management, legal, local and consolidation structures in other accounts. The multi- currency treatment and interdependence between financial, cost, external balance sheet, IFRS and group or alternative (reporting in other country’s accounts) accounting ensures uniqueness and consistency of information.
It is the basis of the definitions of the whole system. The basic data, business unit, fund, cost objects, budget structure, chart of accounts, currencies, taxes, documents, is the source of information for other modules (stocks, fixed assets, payroll and human resources, etc.), segments the required information into fields (suppliers, customers, receipts, payments, VAT, dynamic analytics).
Without disrupting the business, definitions can be restructured through development or restriction procedures, locking, activity period closure, data merging, etc.
Financial reporting allows users to select and combine parameters in a report to provide multiple perspectives, for example a summary or detailed presentation of information. Other reports can take several forms modelled by the user (balance sheet, profit and loss account).
Accounting entries are generated automatically from the system modules (purchases, stocks, salaries, fixed assets, etc.) or by accounting monographs (patterns for recording repetitive documents by economic phenomena) or by automatic procedures (for closing accounts at the end of the period or for revaluing balances in another currency).
Any operation, report, process is carried out in accordance with the user’s role, profile and rights.
Supplier and Client Accounting
A business partner can be both a supplier and a customer, the system allows the analysis of the financial status as a customer balance or supplier balance with a breakdown of actions on each balance.
Actions come from operational processes: receipts, purchases, sales, utility invoices, insurance policy issuance, etc. and cash management. Accounts receivable and accounts payable are a result of operational processes. The reports on customer and supplier activity through the selection parameters provide an analytical and synthetic picture.
Debit/credit activities associated with customer/supplier invoice collections/payments are linked to the operation of cash accounts, statements of account or the issuance of payment orders settling customer/supplier invoice obligations in real time. Other debiting/crediting actions are available as document prototypes through payment/collection bills, clearing of customer/supplier invoices.
The complete set of reports provides analysis of the activity as a whole by accounts and/or supplier/customer as well as in detail down to invoice level through account balances, analytical balances by documents, supplier/customer sheets, supplier/customer sheets on invoices in balance, documents with balance.
Analysis of the age of customer and supplier balances by age intervals modifiable when the report is obtained and ABC analysis of customer and supplier balances are presented in aggregate or in detail on the balance documents.
Cost Accounting
It supports organisations in analysing the profitability and efficiency of products, services, activities, departments, and in determining the unit cost structure of products and services, with the aim of efficient cost management.
The tools available to users model cost accounting differently from one organization to another depending on organisational structure, proposed management, product and service portfolio, choosing any combination of calculation methods – Full/Total Cost Method, ABC Method – Activity Based Costing, Equivalence Indices Method, Global Method, Phased Method, Order Method.
Through native integration with the other components of the system, through accounting monographs or automated procedures, the recording of costs generated automatically from (purchases, stocks, salaries, fixed assets, etc.) is ensured. Thus, internal management accounting is carried out automatically with the minimum of human effort, without the need for reconciliation with financial accounting, as data is collected by dimension in cost accounting (cost objects, management accounts, calculation items, expenditure items) at the same time as it is recorded in financial accounting.
Expenditure allocation is a fully automated process, the allocation steps are organised in a settlement scenario based on cost drivers. The settlement scenario can be run for the whole process or by stages. The allocation of costs can be repeated in cost accounting, including for previous periods.
Budgeting Planning & Control
It controls the budgeting process and provides a strategic perspective for distributive business planning. All operational, investment, asset maintenance, environmental, etc. budgets are brought together in the organisation’s budgeting system and are coordinated individually and centrally.
By seamlessly integrating with all business and financial data areas, EMSYS Planning, Budgeting and Control creates the framework for collaboration across all lines of business, influencing and facilitating the organisation’s financial performance as well as real-time technical and operational decisions.
Planning and budgeting processes start from setting the objectives to be achieved. The budget can be constructed top-down, bottom-up, or any combination of the two methods, with funds allocated to objectives being allocated to organisational structures.
Funding sources and budget items are shaped by users and form the structure of the budget. For other reporting perspectives, alternative reporting structures can be defined.
Budget figures can be declared by year, quarter or period, and then broken down or merged.
The tabular format for declaring data in budgets and the procedures for importing budgeted values make planning and budgeting work easy for users to handle.
Budget execution steps are set relative to the organisational culture, some of which may be omitted. Expenditure commitment is the stage authorising the initiation of the use of budgeted funds for individual purchases of goods, services and works, or overall expenditure of the organization (utilities, salaries, travel, protocol, rent, etc.).
Indicators for the analysis of budgets are configured by users by stages of budget execution, can be presented as budget values, committed amounts, contracts, expenditure, payments, revenue, etc.
Fixed Assets
It supports organisations in monitoring processes and minimising costs with tangible and intangible asset accounting, with tools to supplement the effort in complying with legal and tax regulations throughout the asset lifecycle, from receipt, depreciation calculation, revaluation and decommissioning.
Establishing an effective means of managing fixed assets is a great way to maximise an organisation’s funds. Integrated for budgeting and non-budgeting organisations into the funding, budgeting and expenditure execution process allowing for automatic calculation of depreciation at the level of each funding source, each project according to the optimal depreciation methods for each fixed asset.
Mobile tagging and inventorying procedures are a solution to optimise organisational costs by reducing inventory time to accommodate accurate decisions on scrapping, ensuring data accuracy and increasing efficiency by eliminating human error.
The complete monograph of each fixed asset ensures that depreciation is automatically recorded in the financial accounts at the same time as it is reflected in the management accounts. The Fixed Assets module is fully integrated with EMSYS – Asset Management, EMSYS – Logistics (Purchasing).
Relevant processes: asset entries directly or on the basis of supplier orders through integration with purchase flows, investment target receipts, splits, mergers, upgrades, partial/full disposals, individual/block transfers, calculation of book and tax depreciation per business unit, cost objects, financing sources and budget items, depreciation corrections, revaluation reserves at inventory number level, transfer of revaluation reserves to monthly revaluation surplus/full depreciation, transfer to income of share of investment grants, revaluation taking into account previous revaluations.
Cash Management
Performs cash management and operations in cash and bank accounts, real time cash integrity, linking into the budgetary control process as steps to finance and complete financial flows through payments.
The tools associated with the cash flows are user configurable, an unlimited number of cash desks, banks and their associated accounts can be declared, developed both physically (cash desks, bank statements) and on different coordinates to ensure efficient financial management and rigorous control of the use of cash: objectives, activities, funding sources, projects, areas of interest, destinations, etc.
Modelling the different prototype screens associated with collections and payments reduces user effort, the operation is carried out in a natural way, with the system only requesting information specific to each operation. A collection of customer invoices or payment of supplier invoices automatically extinguishes their obligations by selecting the invoices in balance.
Integration with system functionalities: purchase orders, sales, customers, suppliers, debtors, creditors, other forecast payments and receipts (leasing, insurance, bank loans, payroll, tax payments, etc.), allows modelling a cash flow forecast picture for years, half-years, quarters, weeks to date, as a decision support to ensure long-term financial stability.
The complete management of payment orders is carried out in an approval workflow, generating payment proposals from due obligations, recording them as payment orders, and then transmitting them in a standard electronic format accepted by banks.
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