Many people identify finance with bookkeeping and accounting. Undoubtedly, accounting is very important in the life of a company, but the financial area is much wider than that. This area can also be managed comprehensively, in an integrated way, with QAD Enterprise Applications.
Petty Cash and Foreign Currency Petty Cash
The Petty Cash and Foreign Currency Petty Cash solutions are Hungarian specialty implementations. Cash payments and vouchers in HUF and in foreign currency can be tracked in the integrated implementation with the Petty Cash and Foreign Currency Petty Cash solutions, respectively. The solution is in compliance with current regulations.
In addition to the HUF-based Foreign Currency Petty Cash, the operation of foreign currency-based Petty Cash can also be supported.
Fixed Assets
The Fixed Assets module of the QAD Enterprise Applications provides an integrated solution for the ongoing management of fixed assets, ensuring compliance with Hungarian regulations.
With this module, it is easy to navigate in the complex process of fixed asset management, due to its integrated features, automatic accounting, the use of basic and supplementary information and reportability. The solution provides the user with insight to a well-structured world, containing all necessary information, which will help increase the profits of the enterprise considerably.
Consolidation
Nowadays enterprises operating in a business group structure are more and more widespread. With such a structure it is important to measure the activities and results of companies individually, and also to analyse the consolidated operations of the group.
The multi-domain structure of the solution provides comprehensive support for this, as several legal entities in a database can be managed individually and on a consolidated level, even with different currencies, different legal environment and separated business processes.
VAT statements
State revenues constitute a pillar of the modern economy, and value added tax is an integral part of that. In the Hungarian tax system, the seller has to pay and record this tax on every level of trade whenever value is added. The Tax Management module of QAD Enterprise Applications provides help with this. The VAT module complies with the Hungarian tax code and particularities of the system, like the cash accounting principle and monitoring events within the HUF 2 million limit.
Self-billing function
In some industries it is common practice that the invoice is created by the customer during the purchase. In these processes the issue of the invoice is not initiated by the supplier, it is the customer who calculates the payable amount according to the shipment received. In such cases settlement is not based on invoices issued by the supplier, but on consolidated vouchers created periodically by the customer.
With the Self-billing function data can be processed from the invoice that was issued by the customer and remitted electronically, through the EDI solution.
