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Financial Management System
As your business grows, so do the challenges associated with managing its financials. Without an integrated and automated financials management solution, increased business complexity can overwhelm your existing financial and accounting processes, giving rise to inefficiencies and inaccuracies that can lead to missed opportunities and lost revenue.

The ASCENT ERP application provides a reliable, integrated solution to streamline your financial operations. It automates your everyday financial tasks and integrates them with other business processes, such as purchasing and sales, in real time, resulting in faster transactions and improved cash flow

The ASCENT ERP application offers a complete and integrated set of tools to effectively manage and automate all of the accounting and financial processes in your growing company. As the core component of ASCENT ERP, financials management incorporates all key accounting processes, such as ledger and journal entries, accounts receivable, and accounts payable. The software automatically triggers accounting postings in real time when business transactions occur.

 

ASCENT ERP supports automatic tax calculations as well as multicurrency transactions. Posting templates and recurring postings further streamline and simplify your accounting processes. With ASCENT ERP, you can manage cash flow, track budgets, and compare actual and planned figures at any time to get an accurate and up-to-date picture of your business. You can readily create profit or cost centres and then allocate revenue and expenses according to distribution rules, which are customizable specifically for your business needs.

 

With the banking and reconciliation tools in ASCENT ERP, you can handle all your payment processing ,including bank transfers, checks, cash, credit cards, and bank reconciliations. You can import electronic bank statements and automatically reconcile them. The reconciliation tool also allows you to quickly reconcile incoming and outgoing payments with vendor and customer invoices. ASCENT ERP offers powerful reports, analytics, and tools to help you satisfy the financial analysis and reporting requirements of your business. With complete integration with every part of your business including sales, purchasing and inventory, you get a clear and complete overview of your business performance and ability to take quick actions.

 

ASCENT ERP handles all your accounting transactions effectively and comprehensively. You can use its complete chart-of-accounts templates as they are or customize them based on your business requirements. Chart-of-accounts templates consider specific legal requirements for each country, such as segmentation or specific numbering, and thereby help ensure compliance with local laws and regulations.

Accounting

Client's Testimonial

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The application supports multiple global financial reporting standards, currencies, and languages with 40 country-specific versions. For example, with ASCENT ERP, you can process and report transactions in multiple currencies including invoices, checks, statements, and much more.

 

ASCENT ERP integrates accounting journal entries and automatically updates them whenever relevant business transactions occur in the application. For example, a goods receipt posting will automatically create the necessary journal entry to adjust inventory levels and valuation as well as update corresponding expense accounts, if necessary. Any purchasing, sales, and inventory transactions in ASCENT ERP automatically trigger corresponding journal entries in real time without any additional manual entries or postings. For even greater efficiency, ASCENT ERP allows you to use recurring postings and posting templates for transactions that repeat from period to period, eliminating redundant tasks and potential mistakes. You can also use journal vouchers to create multiple journal entries and then process these vouchers in batch mode, posting all entries simultaneously

 

ASCENT ERP automatically calculates taxes, such as sales tax, value added tax, and withholding tax, for each line item on each transaction, taking into account country-specific allocation and reporting requirements. It automates the computation and reporting of tax processes, enabling you to fully comply with legal requirements.

 

ASCENT ERP enables you to accelerate your month-end closes. The application automates business activities that lead to greater efficiency and fewer errors. It provides tools and quick access to real-time financial information, reducing the time it takes to close your books at the end of every period.


Controlling (or Cost Accounting)

The application supports multiple global financial reporting standards, currencies, and languages with 40 country-specific versions. For example, with ASCENT ERP, you can process and report transactions in multiple currencies including invoices, checks, statements, and much more.

ASCENT ERP integrates accounting journal entries and automatically updates them whenever relevant business transactions occur in the application. For example, a goods receipt posting will automatically create the necessary journal entry to adjust inventory levels and valuation as well as update corresponding expense accounts, if necessary. Any purchasing, sales, and inventory transactions in ASCENT ERP automatically trigger corresponding journal entries in real time without any additional manual entries or postings. For even greater efficiency, ASCENT ERP allows you to use recurring postings and posting templates for transactions that repeat from period to period, eliminating redundant tasks and potential mistakes. You can also use journal vouchers to create multiple journal entries and then process these vouchers in batch mode, posting all entries simultaneously.

ASCENT ERP automatically calculates taxes, such as sales tax, value added tax, and withholding tax, for each line item on each transaction, taking into account country-specific allocation and reporting requirements. It automates the computation and reporting of tax processes, enabling you to fully comply with legal requirements.

ASCENT ERP enables you to accelerate your month-end closes. The application automates business activities that lead to greater efficiency and fewer errors. It provides tools and quick access to real-time financial information, reducing the time it takes to close your books at the end of every period.

Banking and Reconciliation

With the banking and reconciliation functionality in ASCENT ERP, you can automate and accelerate incoming and outgoing payments. The payment wizard allows you to clear multiple accounts receivable and accounts payable invoices in batch mode for checks and bank transfers. The payments are executed according to your selection criteria and payment methods (such as cheque, bank transfer, credit card, or cash), and then the journal entry transactions are automatically posted once the process is completed. With the bank statement processing feature of ASCENT ERP, you can also readily process external bank statements to generate incoming and outgoing payments and to reconcile your balance sheet accounts.

ASCENT ERP enables you to match payments that are not automatically reconciled, such as payments made “on account,” to open items either automatically or manually through its reconciliation engine. You can filter this engine by general ledger account or by business partner.

Powerful Financial Reporting

ASCENT ERP provides a wide range of financial reports, such as balance sheets, profit and loss statements, profitability reports, multi-period comparisons, sales and purchasing analysis, aging reports, and budget reports. With interactive drill-downs and “drag and relate” functionalities, you can click through the relevant data and get answers you need quickly.

“We can now acquire the information from the company in real time. ASCENT ERP, connecting directly with our bank online, enhances the efficiency of collections and payments. Precise daily and monthly data helps us a lot to make top-level strategic decisions promptly.”