Syspro ERP in Financial Space

SYSPRO Solutions for Accounting Operations and Reporting
SYSPRO’s powerful financial solutions provide comprehensive financial and cost accounting functionality and controls. Financial data is always current thanks to real-time integration between SYSPRO financial, distribution and manufacturing solutions. Financial processes can be extended to the web or integrated to other applications using SYSPRO e.net Solutions.

  • The General Ledger module includes a powerful Report Writer that accommodates a range of reporting requirements from quick reports for internal reporting purposes to boardroom quality reports to fulfill statutory requirements.
  • The bread and butter transactions of payables, receivables and T-accounts are seamlessly integrated with the inventory and sales and procurement modules. Tax regulations catered for by SYSPRO include the VAT and GST systems used in the world’s major economies with advanced geographic logic and withholding tax options. Cross-module Tax Return functionality allows for easy tax compliance.


SYSPRO Solutions for Management Accounting

  • Management Accounting is made easy with SYSPRO’s methods of inventory costing that include standard, average, FIFO, LIFO and last cost.
  • Activity Based Costing and Actual Costing are further options as is Landed Cost Tracking which enables greater control of all associated costs by providing visibility of imported goods through shipment trading, resulting in accurate landed costs.
  • Budgeting and forecasting for different parts of the business can be managed with SYSPRO. Our Sales Analysis solution allows for the setting of sales targets to manage sales performance. Inventory Forecasting, predicts future sales and identifies those products that contribute the most in terms of sales value, gross profit, cost of sales, quantity sold or hits.
  • SYSPRO Financial Analysis comprises a set of tools that enable managers to forecast and perform what-if analysis on financial data. The tools include:

    • Cashflow Forecasting
    • Financial Ratio Analysis
    • Budgeting and Planning functionality

SYSPRO Solutions for Management Support

  • SYSPRO financials enable enterprise performance management in the form of Executive Dashboards and Analytics, Boardroom Quality Reporting plus Cash Flow Reporting and Forecasting. These features provide real-time, at-a-glance visibility of all aspects of the organization.
  • SYSPRO Assets Register provides up-to-date, real-time information regarding the value of all assets within the organization.
  • SYSPRO Workflow management provides increased business process visibility and real time visual monitoring with the capability for continuous process improvement.
  • SYSPRO Process Modeling (SPM)provides a model-driven architecture that supports management by aligning IT with company strategy and business objectives. SPM improves governance and risk management by:

    • Giving a clear understanding and transparency of operations, processes and systems across the organization;
    • Standardizing and recording processes as they evolve;
    • Providing a central repository for all changes, whether at business, process, or system level, that can be used for auditing and compliance validation.

The SYSPRO Electronic Fund Transfer (EFT) system improves efficiency and provides an accurate and up to date picture of your cash flow. It also reduces the risk of fraud and transactional costs associated with beneficiary payments.

The EFT system enables you to combine payments for both Accounts Payable suppliers and Cash Book beneficiaries into one bank batch file and choose whether to post Accounts Payable EFT payments to the Cash Book in detail or in summary. It enables you to create electronic payment files of disbursements which you can upload to your bank(s) for processing.

User-defined fields and a custom form option enable the entry of additional information against suppliers, beneficiaries and banks. These are useful if a bank requires additional information which is not catered for by the standard EFT fields.

The amount of information that can be captured and exported from the EFT system means that it should cater for the requirements of banks in any country.

A full audit trail, numerous reports and query facilities enable users to interrogate the status of EFT transactions

The Facts
The Benefits of Electronic Funds Transfer

  • Reduce transactional costs of beneficiary payments
  • Achieve more accurate cash flow control
  • Provide a paperless audit trail
  • Reduce resource requirements
  • Limit the risk of fraud
  • Improve efficiency
  • Control payment dates, thus reducing the risk of late payment penalties


Electronic Funds Transfer Features

  • Indicate per bank if Electronic Funds Transfer transactions are required
  • Create custom forms and customize fields required to successfully pay a beneficiary electronically
  • Additional validation for supplier banking details
  • Capture banking details for Cash Book beneficiaries
  • Define narration at company or supplier level
  • Define security at activity and field level
  • Define Electronic Funds Transfer remittance advice
  • Customize ASCII file into bank-specific format
  • Easily manipulate optional XML output for a country-specific bank formats
  • Combine Electronic Funds Transfer payments for both Accounts Payable suppliers and Cash Book beneficiaries into one bank batch file
  • Post Accounts Payable Electronic Funds Transfer payments to the Cash Book in detail or in summary
  • Local and foreign payments supported
  • Purge data


Integration with SYSPRO

  • Accounts Payable
  • Cash Book


Audit trails and reporting

  • Various reports enable the interrogation of the status of EFT transactions
  • Amendment journals track additions and/or changes to beneficiary’s information

To configure against a list of key business processes on a transaction-by-transaction basis providing security access, transaction logging and event triggering.

The Facts
The Benefits of Electronic Signatures

  • Control in a centralized location who in your company is allowed to process various transactions
  • Configure the system to activate triggers which can be used to notify management when significant events occur
  • Transaction logging allows you to generate an audit trail of completed transactions indicating who performed a transaction and when it occurred
  • Provides a centralized location for integration to 3RD party systems


Electronic Signatures Features

  • Electronic signatures can be configured at system level, at company level, at group level, or operator level.
  • Security access is controlled by the entry of a password before an operator is allowed to proceed with a transaction
  • Enables a company to ensure integrity of operations (i.e. who did what and when)

SYSPRO Financial Ratios provide an at-a-glance assessment of the financial health of an organization allowing real-time monitoring for effective decision making. SYSPRO Financial Ratios is well-suited for executives requiring boardroom reporting, real-time performance monitoring and detailed analysis and is part of the set of financial analysis solutions provided by SYSPRO to enable managers to forecast and perform what-if analysis on financial data.

Various queries and reports for quantifying and understanding aspects of the business are provided to view the results of applying selected financial ratios on General Ledger values, including Du Pont Return on Equity.

For information on other financial analysis solutions provided by SYSPRO please refer to the following Fact sheets:

  • Cash Book
  • General Ledger
  • Executive Dashboards


The Facts
The Benefits of Financial Ratios

  • Monitor efficiencies within an organization and measure the value of an organization through real-time views of liquidity and solvency
  • Monitor operational effects on the Balance Sheet and Income Statement
  • Address concerns of investors on the ability to generate revenue and profits from investments
  • Ability to compare the current financial performance of an organization against previous years, budgets, investor’s expectations, a competitor, or the industry average
  • Real-time access to key information by adding the relevant financial ratios to decision-makers’ dashboards
  • Measure the effectiveness of the business with cash conversion cycle using a combination of activity ratios
  • Easily incorporate financial ratios in any customized pane or executive view
  • Quickly and easily produce reports, in summary and detailed, including graphics


Electronic Signatures Features

  • Monitor efficiencies within an organization and measure the value of an organization through real-time views of liquidity and solvency
  • Monitor operational effects on the Balance Sheet and Income Statement
  • Address concerns of investors on the ability to generate revenue and profits from investments
  • Ability to compare the current financial performance of an organization against previous years, budgets, investor’s expectations, a competitor, or the industry average
  • Real-time access to key information by adding the relevant financial ratios to decision-makers’ dashboards
  • Measure the effectiveness of the business with cash conversion cycle using a combination of activity ratios
  • Easily incorporate financial ratios in any customized pane or executive view
  • Quickly and easily produce reports, in summary and detailed, including graphics


Financial Ratios Features

  • Turnover monitoring ratios for Non-current Asset, Total Asset Turnover, Payables, Receivables and Inventory
  • Profitability measurement ratios such as Net Profit Margin, Return on Assets and Return on Equity
  • Query-drill-down capabilities (ultimately to source documents
  • Ratio Analysis Query providing views of all defined financial ratios
  • Liquidity measurement using Current Ratio and the Quick Ratio (a.k.a. Acid Test Ratio)
  • Debt Ratio, Debt Equity, Leverage and Gearing, to measure insolvency
  • Du Pont analysis to analyze the combined effect of operational efficiency, asset usage and leverage
  • Working Capital Cycle to monitor daily operating liquidity
  • Financial Statement Query showing Income Statement and Balance Sheet details for all or selected ledgers
  • Real-time Financial Statement Query shows summary and details of Balance Sheet and Income Statement

SYSPRO Financial Report Writer enables the generation of any number of financial statements in multiple output formats to meet the requirements of your organization.

The Facts
The Benefits of Financial Reporting

  • Caters for single entities as well as multi-company (consolidated) reporting
  • Provides the ability to produce comparative analysis between financial years, actual to budget, companies or branches
  • Sample templates for Balance Sheets and Income Statements assist you in writing reports quickly
  • Create an unlimited number of user-defined financial reports to suit your business requirements
  • Financial reports can be printed, viewed on-line or extracted
  • Flexible design capabilities allows reporting from multiple companies, periods and years in local and foreign currency
  • Run-time prompts allow for better flexibility when running reports


Financial Reporting Features

  • Process journal entries real-time into SYSPRO’s multi period General Ledger while viewing an HTML style report
  • Optionally publish reports in Extensible Markup
  • Language (XML) and also allows reporting to Extensible Business Reporting Language (XBRL) standard
  • Authorized users can view XML output using the SYSPRO browser which enables drill down to source transaction
  • Conveniently view XML reports outside of SYSPRO on the Internet or company Intranet in HTML format using a standard Internet browser
  • XML reports provide drill-down capability, optionally to source documents if viewed from within SYSPRO
  • Efficient definition of financial reports with convenient in-line editing from the output screen
  • Companies can be selected at run-time or defined at line level
  • Flexible account selection options including the ability to use wildcards or select by a user-defined Group code
  • Multiple Sections print information from more than one ledger code across the same print line
  • Generate Income Statements by department


Integration with SYSPRO

SYSPRO Financial Report Writer is part of the General Ledger module.

SYSPRO General Ledger facilitates the management of corporate performance and the monitoring of return on investment by providing complete enterprise-wide financial recording, analysis and reporting from all aspects of the business. It integrates seamlessly with all other modules in SYSPRO.

The General Ledger system is designed to be flexible and easy-to-use, allowing you to design financial reports in virtually any format and sequence. Reporting is simple, yet extensive by using the built-in Financial Report Writer, or by passing the information to a number of third-party software products. It supports unlimited history. The query is extensive with impressive graphic and drill-down capabilities. Up to 10 different budgets can be defined.

The General Ledger normally stores all values in local currency, but you can optionally have up to 10 alternative currencies within the General Ledger system for reporting purposes.

Other facilities in the SYSPRO General Ledger system are:

  • Structured accounts to facilitate easier navigation, define relationships and analyze information
  • Costs analysis which provides detailed analysis of the values distributed to accounts, without the need to create additional, unnecessary accounts in general Ledger


For information on other financial analysis solutions provided by SYSPRO please refer to the following Factsheets:

  • Financial Ratios
  • Cash Book
  • Executive Dashboards


The Facts
The Benefits of General Ledger

  • Graphical views of actual performance or budgets for current and prior years
  • Retain unlimited detail and summary histories
  • Manage unlimited number of accounts
  • Drill down into sub-ledgers to find source details
  • Support European Monetary Unit (EMU) and FASB 52 requirements
  • Maintain currency exchange rate history
  • Allow redefinition of financial year
  • Financial ratios
  • Real time General ledger
  • Cost analysis ideal for expense accounts such as traveling, repairs and maintenance, general expenses or donations


General Ledger Features

  • Define a 4, 6, 12 or 13 period financial year
  • Maintain up to 10 budgets for each ledger code
  • Produce consolidated financials for multiple companies
  • Define ledger code groupings
  • Integrate from sub-ledgers in detail or summary specified per module or ledger account
  • Password protect sensitive accounts
  • Allow committed and uncommitted costs to be checked against budget
  • Restrict ledger codes to specific business processes and transactions
  • Hold the ledger open for two years with multi period accounting
  • Import budgets and journal entries from third-party products such as payroll
  • Place accounts on hold to prevent postings
  • Maintain standard and recurring journal entries
  • Create and attach notes to accounts using Notepad
  • Retain foreign currency rates of exchange at transaction level
  • Utilize predefined templates for easier repetitive expense type posting
  • Restrict access to journal creation, authorization, printing and posting
  • Automatic balance transfer based on associated statistical account weighting
  • Cost analysis to allow for detailed allocation to be recorded within an account


Integration with SYSPRO

  • User-defined integration with all sub-modules in the system


Audit trails and reporting

  • Built in Financial Report Writer, with XML support, allows unlimited user-defined statements
  • XML support to create reports suitable for viewing directly within a web browser and publishing to the internet or intranet
  • Reports are constructed as XML documents, which make the content suitable for exchanging data between companies
  • XML reporting allow drill down to General Ledger codes and to Source Document or transactions
  • XML documents are XBRL compliant
  • Print summary or detailed trial balance for any period in the current or previous year and in any currency
  • Complete audit trails for all transactions are posted to the General Ledger
  • The Global Tax Report consolidates tax transactions from sub-ledgers into a single report
  • Generates multi-currency reporting
  • Period-end worksheets assist with auditor’s adjustments