ERP, Enterprise Resource Planning is a process that is used by a company to manage and integrate the core parts of the business. The ERP Management information system conjugates many areas say planning, purchasing, inventory, finance, marketing, sales and human resources. ERP is mostly used in the software context. Since the methodology spread like viral, large software applications have been developed to facilitate companies in implementing ERP.
All level of organizations say from small to large are benefited from the ERP finance module implementation. It is the core of many ERP software systems. Finance ERP is capable of gathering financial data from different functional departments, generating financial reports such as trial balance, balance sheet, general ledger and financial statements. Receivable and Payable statements can be generated with the help of Finance ERP. It bridges between sales & procurement process. All the figures will be protected by a password. Only the authenticated person can access the account information from Finance Enterprise resource planning method.
In any company, funds manipulation is an important concern. So, the sources of funds and funds application are to be taken care by defining schedules, general and sub-ledger, balance sheets, etc., The various input transaction say Credit/Debit entry, Cash/Bank receipts, payments, Bank reconciliation statement, bill verification can be done with the help of this ERP.