Apex Financial Management

Today businesses lay emphasis on transparency, financial control, decision support and financial scrutiny. Information is the key resource of an enterprise and managements rely on information analysis to make swift and effective decisions. Apex Financials is a comprehensive and powerful enterprise financial management solution to handle the accounting, financial and information management needs of an enterprise comprising multiple business units operating in diverse lines of businesses.

Apex Financials is simple enough for use by an SME with straightforward accounting and reporting needs and powerful enough for a large enterprise with a diverse product line, complex chart of accounts and highly specialized controlling, monitoring and reporting requirements.

Apex Financials comprises of the following modules:

  1. General Ledger
  2. Asset Management
  3. Accounts Payable
  4. Accounts Receivables
  5. Cash Management
  6. Apex supports a complete accounting cycle from transaction recording to generation of final financial statements of the company. Apex fully automates your month-end and year-end processing, ensuring automatic adjustments of accounts, opening and closing balances and calculation of retained earning. It supports built in features to accurately perform complex accounting functions such as budgeting, revaluation, translation, multiple currency reporting, consolidation etc. Recursive, allocation, inter-company, budget, statistical and encumbrance journal vouchers are supported. Report writer provides unlimited options for creating customized financial reports.

    You can prepare budgets for departments and consolidate them in the master budget. The system provides online monitoring of variances and generates appropriate alarms and notifications on exceptions.

    Apex effectively manages fixed, leased and expensed enterprise assets and fully supports capital works in progress. It enables you to define capital budgets and exercise control over them. The system supports extensive classification of assets and enables you to perform all types of transactions from asset addition to retirement. It has a powerful asset history feature to view all associated transactions in asset life cycle. Flat rate, life based and units of production depreciation methods are supported with simulation capabilities to determine the most suited depreciation method and life cycle for your assets. You can revalue assets, maintain price indexes and take full advantage of available Investment Tax Credits. At your option separate corporate and tax depreciation books are maintained to satisfy corporate accounting and legal requirements for taxation purposes. The system also supports physical count of your assets.

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    Apex is a powerful solution for handling all functions associated with vendor invoice and payment processing. Standard, advance, credit memo, employee and withholding tax invoices are supported. You can view outstanding liabilities for different vendors and identify vendors with whom you do most business. The system automatically avails cash discounts by selecting invoices for payment processing on scheduled payment discount dates. Payment and tax amounts for invoices are automatically calculated. Payment system prints cheques and payment advices and reconciles checking accounts. System generates an invoice for the collected withholding tax against which funds are released to the relevant tax authority. Vendor payment aging function segregates open invoices with outstanding balances according to user-defined criteria.

    Accounts Receivable System streamlines your receivable accounting from invoicing and receipts to detailed sales analysis. Standard, credit and debit memo, adjustment, recurring, write off, advance, deposit and interest invoices are supported in Apex. The system contains a range of tools that you can use to monitor open items. Company policies on tax, interest realization, allowed discounts, dunning and accrual invoice etc. can be incorporated in the system. For the purpose of reporting Apex enables you to group or categorize customers on the basis of user defined classes e.g. Government, Private, SME, or in terms of rating or ranking. In case of a business merger, Apex provides a flexible option to combine the receivables of two or more merging customers.

    Apex helps you in managing your cash flows effectively. It provides you comprehensive cash management, bank reconciliation and cash forecasting facilities. Apex determines the duration of your cash cycle and the changes in its trend over a period of time. Apex intuitively guides you to reconcile your accounts with the bank statements. It tracks funds distribution and suggests appropriate time of payment to take advantage of available discounts and maintain good credit standing. Apex forecasts cash inflows on the basis of sales growth analysis and payment trends of the customers. Cash outflow is forecast using payment schedules and trends.

    Salient features of Apex Financial Management are:

    • Encumbrance accounting
    • Multi-currency reporting
    • Suspense accounting
    • Automatic retained earning calculation
    • Cash forecasting and simulation
    • User defined fields with important documents and records
    • Online trial balance
    • Powerful report writer

    Apex Financials is fully integrated with materials management, sales and distribution, human resource, production and plant maintenance modules.