Fixed Assets

The WinERP™ Fixed Asset module provides the features and functions to manage all types of properties, plant and equipment. The book and tax accounting implications of all capital assets are addressed with maximum flexibility, recognizing the inevitable changes in depreciation methods. Tracking fixed assets is simplified with free format accounting locations and location information. The WinERP™ Fixed Asset module provides a comprehensive solution to asset control, depreciation, tax requirements and asset reporting.

The WinERP™ Fixed Asset module provides the flexibility to handle any corporate accounting locations or asset tracking structure. The free format asset structure allows the user the methods to group, report and manage assets according to the organization's requirements. The free format asset structure groups property, plant and equipment by the part of the organization where they are utilized and contains the account numbers used to build the depreciation and asset related General Ledger entries. Examples are division, department, work center, line, process and product.

Depreciation methods and regulations are continuously monitored by accounting and tax experts to keep the WinERP™ Fixed Asset module current. Also, depreciation tables allow the user to respond to most depreciation changes without any programming changes to the existing Fixed Asset module. In most instances, only a new depreciation table need be introduced and used. Each asset can have up to 99 depreciation books, allowing for complete compliance with financial books, federal tax and state tax depreciation rules and regulations. Asset additions, transfers and retirements are simplified with the WinERP™ Fixed Asset module. Additions require a minimal amount of information with most defaulting from the accounting location and location files. The standard/recurring asset function saves time and effort in adding similar assets. Retirement processing includes partial, complete and retroactive capabilities. Transfer processing supports partial, complete and mass capabilities. Audit trails of all asset activity are maintained. Additionally, WinERP™ Fixed Assets supports component assets. The initial release is integrated with WinERP™ General Ledger and Accounts Payable. Future releases will be integrated with Cost Accounting (for activity based accounting).

Accounts Payable

The Accounts Payable module is a flexible, on-line product provides control and processing of your accounts payables. The product is fully integrated with the WinERP™ General Ledger and Purchasing products.

• Multiple currencies
• Multiple databases, each totally independent
• Multiple companies and profit centers
• Multiple bank accounts for each company and currency
• Multiple Accounts Payable subledgers for each company in the General Ledger
• Multiple vendor types - such as currency, type of service, means of payment
• Multiple payment types - such as Check and Direct Credit
• Multiple terms structures, with the ability to calculate discount and due dates automatically
• Automatic General Ledger distribution of payables
• Distribution of payables to multiple companies and profit centers
• Memo posting for payables
• Posting of recurring payables

Accounts Receivable

The Accounts Receivable module collects and reports information to assist in collecting receivables, assessing credit, and reducing bad debt. It identifies problem customers, as well as provides the status of overall cash flow.

• On-line cash and memo posting
• Complete accounting audit trails of all transactions
• On-line and printed inquiries for one or all customers
• Detailed credit history for each customer
• Agings, statements and all standard receivable reports
• Multiple company and multiple profit center support
• Multiple terms with variable invoice due dates, discount dates, and discount amounts
• Dunning statements for overdue invoices
• Integrated with the General Ledger

Cost Accounting

Successful management of the modern business environment demands rapid access to information for daily control of production activities, planning of future competitive strategies, and financial reporting. Accommodating this demand requires a database, which tightly integrates manufacturing and financial data with cost accounting.

WinERP™ Cost Accounting is completely integrated with other WinERP™ modules such as Inventory, Purchasing, Shop Floor Control, Manufacturing Data Management and Accounts Payable thus providing a true business solution at real-time.

WinERP™ Cost Accounting database supports current and future integration with a flexible, user-definable cost matrix consisting of 99 cost sets, 999 cost buckets, and 2 cost levels.

Normalization of the cost database allows fast access, retrieval, and update of cost.

Standard WinERP™ Cost Accounting reports facilitate management by exception, in which staff members require summary-level reporting that identifies only those areas requiring immediate attention. This is accomplished by selection criteria such as summary vs. detail, sort sequence, and cut-off date.
Operational activities are translated into financial results for both internal and external reporting purposes. Actual costs are reported on a calendar, which is consistent with the General Ledger for journalization and review.

Inventory valuation provides an additional financial measure of continuous improvement. WinERP™ work-in-process (WIP) valuation is provided based on any cost set selected and can be re-run for additional cost sets as needed. The WIP inventory cut-off date feature provides true end-of-period valuation for journalization to the General Ledger.

General Ledger

• Completely date driven with up to 13 periods
• Fast and extremely flexible journal entry and processing
• User-defined chart of accounts with multiple level reporting and consolidation
• Multiple budgets with comparison to actual
• Multiple company set-up with option to share a single chart of accounts among selected
• Multiple currency option
• Multiple level drill-downs
• On-screen single-click sorts
• Unlimited history
• Inter-company transfers
• Sub-system posting