• 1. Finance

1. Finance

Double-entry bookkeeping
Axanta automatically creates all the behind-the-scenes journal entries for each of your accounting transactions: customer invoices, point of sale order, expenses, inventory moves, etc.
Axanta uses the rules of double-entry bookkeeping system: all journal entries are automatically balanced (sum of debits = sum of credits).
Axanta allows one to manage several companies within the same database. Each company has its own chart of accounts and rules. You can get consolidation reports following your consolidation rules.
Users can access several companies but always work in one company at a time.
Every transaction is recorded in the default currency of the company. For transactions occurring in another currency, Axanta stores both the value in the currency of the company and the value in the currency of the transaction. Axanta can generate currencies gains and losses after the reconciliation of the journal items.
Currency rates are updated once a day using a online web-service.
Accounts Receivable & Payable
By default, Axanta uses a single account for all account receivable entries and one for all accounts payable entries. You can create separate accounts per customers/suppliers, but you don't need to.
As transactions are associated to customers or suppliers, you get reports to perform analysis per customer/supplier such as the customer statement, revenues per customers, aged receivable/payables, ...
Wide range of financial reports
In Axanta, you can generate financial reports in real time. Axanta's reports range from basic accounting reports to advanced management reports. Axanta's reports include:
Performance reports (such as Profit and Loss, Budget Variance)
Position reports (such as Balance Sheet, Aged Payables, Aged Receivables)
Cash reports (such as Bank Summary)
Detail reports (such as Trial Balance and General Ledger)
Management reports (such as Budgets, Executive Summary)
Axanta's report engine allows you to customize your own report based on your own formulae.
Inventory Valuation
Axanta support both periodic (manual) and perpetual (automated) inventory valuations. The available methods are standard price, average price, LIFO (for countries allowing it) and FIFO.
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