In the previous article NET Genium ERP – Cash, other receivables and payables we got acquainted with working with the cash and other receivables/payables within the Finance module.
We will now show financial statistics and the financial planning process. These instructions, together with links to explanations of the terms used, can also be viewed online on the website https://www.netgenium.com/en/help/erp/finance-help.
Financial statistics
This application displays summary financial statistics of the Finance module.
In the upper gray bar, click on the application group “Finance”, in the left navigation bar then on “Financial statistics”. A view page with statistics of outgoing invoices will open. We can easily filter these reports using the drop-down filters located above the graphs. The next tab then shows the statistics of outgoing invoices according to individual customers.
By clicking on the “Profit” option, its monthly overview will open directly. This includes a tabular and graphical overview of the result (and the cumulative result) of invoices, cash vouchers and other receivables/payables by month. The table and graph can be filtered again according to selected criteria. We can also display the economic result in the annual and weekly reports.
The “Cash flow” option allows access to weekly, monthly or annual cash flow statistics (ie cash flow). These statistics are calculated from movements in cash registers and wire transfers.
Finally, the VAT view page provides a simple monthly overview of VAT on invoices, cash vouchers and other receivables/payables.
Financial planning
The Financial Planning application allows you to create and manage corporate cash flow plans. Click on the “Financial planning” option, and press the “New financial plan” button on the open view page. A financial plan form will open, in which we will fill in its name, status (indicating whether the financial plan is in progress and is therefore active or vice versa) and a possible description. Then we press the button “New item” and a form will open in which we can fill in the already specific numbers of our plan for the selected resort. Here, we may change the financial plan to which the center's plan is linked. Next, we choose the division, center and number of periods (months) for which we set the plan. The number of fields for entering the numerical values of the cash flow plan will be displayed as the number of periods entered. We will fill in these fields and save the record of the center plan. We can create several center plans within one financial plan. Once we are done creating them, we will save a record of the financial plan at the end.
On the “Financial Plans” view page, we now see a graphical representation of our financial plan. On the “Center Financial Plans” page, you will find a list of financial plans for all centers. Monitoring of plans is then offered by the Planned Cash Flow section, in which we will find 3 view pages that show the implementation of the plan in a monthly, annual and weekly overview. In these view pages, a comparison of planned and actual turnover values and the total amount of funds is shown in tabular and graphical form. Specifically, these indicators are:
- Planned turnover x Turnover on account and cash register
- Planned balance x Actual balance of the account and cash register
- Plan accuracy – The difference between planned and actual turnover
- Result of the plan – The difference between the planned and the actual state of money
In the graphical representation, the accuracy of the plan is greatest when the accuracy curve lies on the horizontal zero axis. The same can be said about compliance = the result of the plan. If the accuracy and result curves of the plan acquire positive values, it is a performance above the plan and thus a positive effect. Otherwise, when the curves fall to negative values, it is a fulfillment below the plan, which is of course an undesirable condition. Scheduled Cash flow reports can, as usual, be filtered in the same way as described earlier in this article.
Contents of the next article
With this article, we have completed the complete series on the Finance module. In the next article NET Genium ERP – Tasks and Documents we will deal with a detailed description of work with the Organization module, specifically tasks and documents.
Sincerely, Your NetGenium Team.