Cash Flow
IFS/Cash Flow™offers flexible liquidity analyses based on varying scenarios, using input data from areas such as purchase and customer orders and from accounts receivable and payable. Single or repetitive manual cash flows, including currency contracts, can also be added. For individual companies, cash flow can be analyzed for optional periods, divided according to currency, project, region or customer.
Accounts Payable
IFS/Accounts Payable™ simplifies supplier invoice and payment routines. Integration with accounting rules and purchasing functionality minimizes errors and simplifies routines. Support for self-billing minimizes invoice handling. A variety of currency and payment options contribute to the flexibility of the component, while the follow-up and analysis capabilities ensure full control.
Accounts Receivable
IFS/Accounts Receivable™ simplifies invoicing and payment routines. It automatically handles coding of regular transactions and is integrated with customer order and accounting rules functionality to minimize errors and simplify routines. The component offers multi-currency capabilities and enables a variety of payment options. Follow-up and analysis capabilities ensure optimal control.
Fixed Assets
IFS/Fixed Assets™ is an integrated accounting tool for strategic management of your fixed assets. For example, when purchases are made, the acquisition values of fixed assets are updated automatically, if required. Moreover, the system supports a comprehensive range of depreciation methods that can be used simultaneously, a perfect tool if your operations are global and ideal for simulation.
Consolidated Accounts
IFS/Consolidated Accounts™ manages all companies within a group, regardless of number, code structure or base currency. Both actual and budget values can be handled, periodically for legal purposes or whenever required for internal purposes. Subsidiaries’ code structure can be transferred in full or aggregated, with or without translation to a parent code structure. When required, currencies are translated according to user-defined rates. Follow-up and reporting are enabled by the general ledger’s regular query and reporting tools.
General Ledger
IFS/General Ledger™ provides a solid base for financial analysis and reporting by gathering and recording financial events from all the systems and subsidiaries in a corporate group. The component facilitates project accounting, integrated with IFS Project Management™, currency handling and voucher updates. Internal ledgers in parallel with the official general ledger, together with periodic cost allocation functionality that enables complicated accounting processes to be done in minutes, offer powerful simulation capabilities. The budget functionality allows for an optional number of parallel budget versions that can be compiled into one to ensure efficient support for decentralized budgeting. Powerful budget simulation options are also available throughout the entire code string. Integration with IFS/Consolidated Accounts™ allows any number of subsidiaries to be handled. The system can also handle an optional third currency.
Budget Management
IFS/Budget Management™is a powerful tool for managing the planning, budgeting, and forecasting work flow in IFS Applications. It can be used to set your corporate strategy with enterprise-wide drivers and assumptions for the budgeting process, and to set targets for the scorecard and budget templates. Support for continuous planning and rolling forecasting allows the user to monitor and update the process at all stages. It is designed for integration with Microsoft® Excel®.
eInvoice
IFS/eInvoice™ improves and automates the supplier invoicing workflow by reducing the amount of invoices needing manual registration. Invoice scanning is enabled, and advanced rules for authorization significantly speed up the invoice authoring process. Events messages and history logs further improve the process and make follow up easier.
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