August 18, 2023

Financial Software for Small Business

By Consensus International · 2 minute read

Financial Software for Small Business- Consensus International

Streamline all the accounting and financial processes in your growing company, including accounts receivable, accounts payable, posting of ledger, journal entries, recurring entries and more with SAP Business One software.

While accounting-only software, like QuickBooks, may have helped you get started, you need software that can take your business to the next level, automating everyday financial tasks and integrating them with other business processes. That software is available in the SAP Business One® application.

Small and midsized businesses are moving away from accounting solutions like QuickBooks toward SAP Business One. With this ERP, you can:

Accelerate transactions and improve cash flow by automating your everyday financial tasks and integrating them in real time with other business processes, such as purchasing and sales
Get an accurate picture of your business with better cash flow management, and stay on top of actual versus planned figures with budget tracking
Maintain control of your fixed assets throughout their lifecycle
Enhance the efficiency and accuracy of credit card collections and bank reconciliations through direct, online connections with financial institutions
Compile up-to-date financial statements to support business decision making by reducing the time it takes to close your books at the end of every period
Comply swiftly and fully with the legal requirements of each country where you do business
Meet your company’s fiscal responsibilities by streamlining the computation, payment, and reporting of taxes
Satisfy the financial analysis and reporting requirements of your business and make better top-level strategic decisions with powerful analytics.

Implement or adapt predefined chart of accounts templates
Carry out accounting transactions, such as journal entries and vouchers and recurring postings
Use multiple currencies for accounts payable and accounts receivable
Create balance sheet, profit and loss, and other financial reports
Manage fixed assets throughout their lifecycle.

Define and manage budgets
Handle payment terms, customer reminders, and cash collections
Manage direct and indirect expenses and revenues for multiple cost centers, branches, and business units
Maintain distribution rules for automated revenue and expense allocation
Depreciate fixed assets using multiple methods.

Manage incoming and outgoing pay- ments with cash, checks, electronic bank transfers, and credit cards
Process bank statements and perform automatic reconciliation of ledgers
Clear multiple accounts receivable and payable invoices automatically in batches
Print check batches and generate check and payment reports.

Let SAP help you transform your business.

SAP Business One provides a reliable, integrated solution to streamline your financial operations, resulting in faster transaction processing and improved cash flow. Flexible and adaptable, the software is available on premise or in the cloud – the choice is yours.

Trusted by 80.000 SMEs in over 150 countries, SAP Business One has been a long-time favorite of smaller firms and subsidiaries of large enterprises. Need to understand the importance of this ERP for your business? Read: How can SAP Business One be beneficial for your business growth

Conclusion: As your small business or midsize company grows, so does the complexity of managing its financials. The SAP Business One® application enables you to simplify and automate financial management. It provides a comprehensive and integrated set of tools that allow you to manage all the accounting and financial processes in your company.

Consensus International is an SAP Gold Partner that sells, implements, trains and supports its customers on SAP Business One from its offices in Florida, Texas, and Massachusetts.