What are the Top ERP finance module features should be in the time of Development ?

 Top ERP finance module features

1. General Ledger

2. Accounts Payable

3. Accounts Receivable

4. Asset Management

5. Cash Management

6. Customer management

7. Vendor management

8. Banking management

9. Profit tracking

10. Multi-currency capabilities

11. Reporting

ERP finance module features

Let’s take a look at what a typical full-featured ERP finance module offers; then work against this set of capabilities until your own requirements exceed, meet, or fail to meet the baseline. Using Oracle’s ERP finance module as a model, the following functional tiers apply:

General Ledger (GL)

Accounts Payable (AP)

Accounts Receivable (AR)

Asset Management (FA)

Cash Management (CM)

Within these tiers, necessary data dependencies apply involving:

Customer management dependency due to the AR tier 

Vendor management dependency due to the AP tier  

Bank management dependency due to the CM tier

When considering your financial ERP module requirements, you should break down your business' needs from each feature. 

For your General Ledger requirements, you may request automating transactions, or you'd like your ERP to have preset rules that calculate the amounts for your GL transactions. In Accounts Payable, you may need your software to be able to accept invoices in multiple currencies, as well as different payment systems. 

Your ERP finance module requirements are something you need to strongly consider when drafting up your ERP requirements document, our requirements template includes eight sections, and twenty functionality questions so your business has a full picture of exactly how your ERP needs to handle finance.

At an enterprise-wide finance level; other necessary data integrations apply including:

Accounting management integrated in association with the GL tier

Soft and hard assets management in association with the FA tier

Each dependent tier, and/or related enterprise integration interacts with three core elements:

A form generator that allows the entry, alteration, or deletion of individual records  

One or more distributed databases that store, and retrieve individual or multiple records 

A report generator that retrieves and soft-displays, or hard-prints, consequent, demand-based information