Financial Accounting represents the central module within the PORTOLAN cost accounting suite of applications. It consists of the primary components General Ledger Accounts, Accounts Receivable, and Accounts Payable. The application’s overall design allows depicting business processes in such a way that different accounting principles can be met in parallel. The idea of the Basel II regulations is that companies have to prepare their financial statements in conformity with both national (e.g. HGB) and international accounting principles (IAS/IFRS).
Certification
FIA has been certified by a renowned international auditing company. This certification confirms that FIA provides all functions that are required to meet the Principles of Accounting (POA).
These are:
- Voucher function
- Journal function
- Account function
- Direct access to stored business transactions
- Capability to process postings in all processing stages
- System control and log functions
- Plausibility checks
- Completeness and accuracy of system output
- Data security and traceability
- Integrity of procedure documentation
In order to fulfill the principles of adequacy, the responsible accounting department has to carry out additional application dependent and independent measures as well as internal controls.
FIA supports these tasks by providing extensive help and control tools:
- Reconciliation totals
- Voucher search functions
- Check rules for postings to G/L
accounts
- Tolerance tables
- Reconciliation methods
- Automatic voucher numbering
Features
The most significant features of FIA are as follows:
- User authorizations for functions and menu options (incl. group profile levels)
- Freely definable posting periods and fiscal years
- 12 freely definable criteria per G/L posting (cost center, cost unit, business area, etc.)
- Special general ledger postings (cheques, down payments)
- Integration to Document Management Systems
- Microsoft Office integration
- Consideration of international requirements
- Reporting (Z1, Z5/Z5A, Sales tax summary report for Germany and Austria, summary reports through forms and file formats)
- Automatic evaluation of foreign currency stocks and receivables/payables maintained in a foreign currency
- Account interest calculation
- Extensive methods for balancing open items
- Extensive standard analyses with free selection and sorting options in list form and dialog function.
Country versions for Germany, Austria, Switzerland, France, Spain, Italy, Hungary, Slovakia, the Czech Republic, Chile, Peru, Ecuador, Venezuela, Mexico, Croatia, Norway, Slovenia, China. Contact us for the availability of other country versions.
Automated Services
You require an application that allows you to perform your daily tasks easily and quick. To ensure this, FIA provides a number of automated services for postings:
- Posting of sales taxes
- Currency translation
- Posting of exchange rate differences
- Writing-off minor differences
- Discount postings
- Backdate cash discounts (reallocation
up to ledger account/costing object level)
- Standing journals
- Deferred vouchers
- Deposit slip
- Voucher cancellation
- Voucher copy functions
- Clearing functions (elimination of open item balancing groups)
General Ledger Accounts
General ledger accounting is the basis for external accounting. The list below gives an overview of the most important functions:
- Open items maintenance
- Account interest calculation
- Standing journals
- Deferral voucher types with automatic backdating
- Sales tax reports, sales tax validation
- Cash accounts in foreign currencies
Accounts Receivable Accounts receivable accounting has been consistently linked to the General ledger. The list below gives an overview of the most important functions:
- Flexible reminder management through freely definable reminder options and online administration of reminder proposals
- Credit management (trend analysis of payment pattern, sales, reminder history)
- Bank collection / automatic debiting method
- Automatic payments management for vendors in debit
- Repayment of credit balances and rebates
- Handling of pooled payments (paying agents)
- Maintenance of collective accounts (onetime accounts)
- Integrated bill of exchange accounting
Accounts Payable
Accounts payable accounting has been consistently linked to the General ledger. The list below gives an overview of the most important functions:
- Online administration of payment proposals
- Provision of different (international) data carriers (cheques, DTAUS, EDI formats, etc.)
- Selection of method of payment dependent on amount
- Cross-country bank assignments by limits and bank priorities
- Maintenance of collective accounts (onetime accounts)
- Invoice Auditing
- Maturity analyses
- Integrated bill of exchange accounting
FNR Financial Reporting provides a powerful reporting tool with integrated report generator that allows you to create management analyses and key figures, such as balance sheets, profit and loss statements, and cash-flow statements.
Financial statements according to HGB, IAS/IFRS, and US-GAAP can be generated in parallel. The reporting data are taken from the period-end revenues of the stored fiscal years in Financial Accounting, as well as the cost accounting data and planning values, if available. PORTOLAN’s well-known top-down technology allows you to trace the reporting data down to the voucher level. Automatic transfer of all data into spread sheets (e.g. MS Excel) is provided, too.
