Apparel ERP: Advanced Accounting & Financials

Integrated Payable & Receivables

Automate financial bookkeeping entries with operational modules and eliminate manual data entry like Goods receipt entry, dispatch entries, production entries etc.
Connect operations with financial transactions and map operations based on various inventory, sales and purchase ledgers.
Validate Financial entries before data is posted.
Singe click to combine and post operational transactions directly related to inventory, invoice, debit notes.
Factoring: Discounting, Realizations & Delinking

Global Taxation & Compliance

Manage country-by-country tax setups, payments, and credit adjustments.
Handle all compliance-linked reporting.

Enterprise Asset Management

Monitor the progress of capital work in progress projects on a project and sub-project basis.
Manage the purchase of capital assets.
Issue asset transfers with sales and disposal.
Automatically run depreciation reports based on localized rules and compliance.

Transfer Price Management

Setup transfer price matrix in compliance with global accounting standards.
Support sales and procurement by creating a multi-national company structure.
Eliminate manual entry for all associated intercompany settlements to manage eliminate manual entry for all associated intercompany settlements to manage arm-length transactions.

Financial Statements

Customize financials based on statuary requirements.

Core Financials

Consolidate financial data into a single centralized application.
Close inventory and financial periods with an accurate log.
Use Excel import to create vouchers directly from spreadsheets.
Forex adjustment for un-realized gain/loss us automatically created based on the closing exchange rate, and then posted directly to the general ledger. When unrealized forex gain/loss is realized, it is automatically updated in all reports.
Use cost/profit centers to keep track of branch accounting.
Budget controls ensure tollgates & separate approval workflow for any expenses over budget.
Easy to handle prepaid Expense Scheduling.
Simplify forward contracts.

Advance Analysis in Compliance With IFRS

Build pre-formatted billing reports based on IFRS standards.

Advanced Features

Import bulk transactions from Excel.
Export records directly as Excel spreadsheets to instantly create reports.
Attach and view documents during financial transactions to facilitate paperless transactions.
Specify various cost centers and buyer orders across all financial transactions. View profit and loss for each buyer and for each buyer order.
Access reports and print layouts in multiple languages.

What can you do with this module?

Financial bookkeeping doesn't have to be a headache. WFX ERP has a fully integrated accounting and financials module that can automate financial bookkeeping entries with operational modules and eliminate manual data entries for goods receipts, dispatch, production, and more.

This module connects your operations with financial transactions and maps operations based on various inventory, sales, and purchase ledgers. You can validate financial entries before data is posted and combine operational transactions directly related to inventory, invoice, and debit notes with just one click—all while ensuring compliance-linked reporting.

It also allows you to manage country-by-country tax setups, payments, and credit adjustments—essential for complying with regulations of any country you operate in. The module also provides the ability to monitor progress of capital work on a project-by-project basis (as well as sub-project basis), manage purchase of capital assets, issue asset transfers with sales, dispose of assets when necessary.

Why is the Accounting & Financials module important?

It helps you reduce data entry errors and time wasted on rework caused by manual bookkeeping.
It frees up more time by eliminating the need for reconciliation of data between financial and operational systems.
It allows you to easily manage your global business across multiple currencies and country-specific tax setups.
It gives you the ability accurately track the progress of capital work on a project-by-project basis, or even on a sub-project basis.
It empowers you with more control over your finances by specifying various cost centers and buyer orders across all financial transactions.

Still chasing approvals and managing version chaos over email?

WFX ERP’s Document Approval Center helps you:

WFX ERP’s Document Approval Center helps you:
tick Automate multi-level approval workflows tick Maintain change logs & version control tick Track document status in real time

Accounting & Financials