Advanced Accounting
OmegaCube ERP’s Advanced Accounting allows manufacturers to automate their Sales Tax, Project Accounting and Credit Management workflows, leading to reduced operating costs, improved cash-flows and improved enterprise financial health.
Key Features of Advanced Accounting
- Analyze payment history, payment behaviour and credit scores to evaluate overall credit risk.
- Track overdue invoices and outstanding balances.
- Get instant alerts for potential credit risks and overdue payments.
- Build a comprehensive credit management summary.
- Set credit limits per customer based on past history.
- Forecast impact on cash flow based on outstanding receivables.
- Track direct and indirect costs for each project.
- Allocate costs to specific projects, tasks, or work breakdown structures (WBS).
- Track actuals vs. planned budgets.
- Streamline invoicing with integration with Accounts Receivable.
- Analyze project profitability based on actual costs.
- Forecast future expenses and profitability based on project progress.
- Calculate sales tax based on state, county and city in the U.S.A.
- Apply sales tax rate for each transaction based on the geography.
- Calculate sales tax based on product type and applicable location-based tax rules.
- Define taxable and non-taxable items and customers.
- Auto-calculate sales tax based on shipping address.
- Access real-time sales tax reports and dashboards for in-depth analysis.
- Integrate with Avalara AvaTax and TaxJar for comprehensive sales tax functionality.
Our Customers are Our Purpose and Our Strength
With OmegaCube ERP, we were able to decentralize the Accounts Payable process, eliminate siloed operating methods and easily delegate various parts of the AP process to relevant stakeholders. There was a lot of double data entry that we were able to reduce, thanks to the process decentralization.
When we spoke to our accounting department, they indicated that there has been almost 100% improvement in daily operations because everything is real-time and instantaneous. We are basically light years ahead of what we used to do manually. With OmegaCube ERP, we actually get accurate data of estimated vs. actual costs after a project is complete right at our fingertips.
I sit down every morning and look at a report which tells me how much I owe, how much I have coming in and helps me plan for incoming orders. It’s become an integral part of running my business effectively, efficiently and profitably, and we could add six more businesses without having to change our software.”
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FAQ
Project Accounting in OmegaCube ERP helps manufacturers to comprehensively manage project budgets, inventory procurement, account for overhead costs, production costs, labor costs etc. With its integration with Inventory, order, purchasing and production management, manufacturers can accurately arrive at expenses and project profitability.
Accounting in OmegaCube ERP automates key accounting operations related to Accounts Receivable, Accounts Payable, General Ledger, Bank Reconciliation, Sales Tax, Credit Card transactions, Bank deposits etc.
