Financial Management

Next Generation’s flexible Financial Management Suite lets you streamline operations, access information, and enable accountability in critical financial management processes.

Get the crucial information you need to improve decision making, and the automated transaction functionality needed to drive down financial management costs.

With Next Generation ERP, you’ll optimize profitability with accurate and effective financial management as you:

  • Manage accounts efficiently with online statistical accounts receivable data
  • Generate up-to-date information for customers about their accounts
  • Identify problems before they occur by reviewing detailed receivables information
  • Set-up and control customer records according to operating policies
  • Monitor receivables and take necessary action to enhance cash flow
  • Keep accurate information about money owed, due dates, and available discounts
  • Take advantage of terms and discounts and track payments to ensure they are made only once
  • Choose tax, aging, and fiscal year options to match the way you run your business
  • Be assured that a complete audit trail is beneath your business transactions
  • Group customers by classes for credit and cash application in a single action
  • Accelerate data entry by populating the data fields ahead of time with user-definable default values
  • Enter debit and credit adjustment transactions that automatically update vendor and operator balances
  • Automate activities for payment selection and scheduling, recurring entries, check writing, check reconciliation, and electronic payments
  • Establish a chart of accounts according to the way your business operates
  • Streamline closing processes by automating routine activities, allocations, and reports

Financial Management Features

  • Agile order entry, review, and maintenance options
  • Fully integrated B2B and B2C Internet-based processing options
  • Flexible customer lookup capabilities
  • Real-time order status and inventory availability information
  • Weight capture for items sold by weight
  • Buy, sell and stock in different units of measure
  • Credit checking
  • Freight Management integration to UPS, FedEx and USPS
  • Sales Commissions
  • Fully integrated with third party point-of-sale (POS) and credit card processing
  • Order templates, guides and up-sell tools
  • Order types include regular, drop ship, future, standing, blanket and branch transfer
  • Easy follow-up process for turning quotes into orders
  • Provision for kits, value-adds, and light assembly or work orders
  • Multiple backorder processing options
  • Optional distribution of one order to multiple shipping sources
  • Audit trail tracks all changes to an order

Accounts Receivable

Fully integrated with Sales Order Management, Accounts Receivable provides credit criteria, cash application, dispute handling, and extensive inquiry capabilities to help manage your customer’s accounts and with minimal paperwork.  Customers can be grouped for credit and cash application purposes.  Then, a received payment can be applied to one or more customer accounts in a variety of ways.

  • Analysis of financial information by department and division
  • Accrual or cash basis accounting methods
  • Three-way matching, non-matching, and quick expense entry options
  • Split or scheduled payments
  • Recurring payments
  • Manual check entry
  • Check runs
  • On-line check register
  • Dispute processing
  • User-defined aging buckets and separately aging disputed invoices
  • Extensive inquiry options
  • Average days to pay by period and overall customer average

Accounts Payable

Invoice matching, payment scheduling, and check writing are included in the Accounts Payable module. Invoice data is verified with corresponding purchase orders and receipts through integration with Purchasing Management. Payments are authorized and scheduled with checks or electronic fund transfers (EFTs). Multiple inquiry and review capabilities allow your organization quick access to critical financial records.

  • Analysis of financial information by department and division
  • Accrual or cash basis accounting methods
  • Three-way matching, non-matching, and quick expense entry options
  • Split or scheduled payments
  • Recurring payments
  • Manual check entry
  • Check runs
  • On-line check register
  • Dispute processing

General Ledger

Summary and detailed financial information on multiple levels for easy, convenient financial management are provided in the General Ledger module.  A chart of accounts enables your organization to post journal entries automatically, create recurring entries, and reverse them automatically or manually.  Maintaining fiscal year and time periods is fast and easy, and you can access your General Ledger data with a robust set of query options.

  • Analysis of financial information by department, division or corporation
  • 25 character account ID made up of division, department and G/L account number
  • An unlimited number of accounting periods may be open simultaneously
  • Multiple categories like assets, equity, expense, liability, and revenue
  • Copy function for quick chart configuration
  • Automatic G/L postings based on allocations scheduled for each period
  • Manual or automatic profit entries
  • Budgets
  • Multiple on-line journal, activity, and budget inquiries
  • Extensive list of standard reports