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Finances and accounting

Comarch ERP Altum enables running full accounting, both in a company of one-subsidiary structure and in a holding. Owing to possibility of supporting several companies within one system, the platform allows maintaining separate and independent accounting for each of the enterprises as well as central management of finances of all the units. 

The platform enables performing automatically many operations which earlier required user’s interference, which contributes to much easier and convenient work of accountant. 

The system allows also full control of company’s financial condition and responding to changes in the right time, thanks to, e.g. analyses of receivables and payables (Business Intelligence). 

 

If there are several companies maintained within one system, accounting registry is kept within separated ledgers. It means that each of the companies has own accounting periods and directories associated with them, such as posting ledger and chart of accounts. Accounting documents and other accounting areas: posting schemes, recurring posting schemes, financial statements, VAT accounts, cash registers and bank accounts, are also separated.

Comarch ERP Altum platform enables full maintenance of cash and bank transactions. Functionality of the system in this respect includes, among others: registering cash and bank deposits and withdrawals, creating cash reports, registering bank statements. The program can support any number of cash registers and bank accounts, also kept in foreign currency.  

Comarch ERP Altum allows for, e.g.:

Analyzing statuses of payments in a company.

Completing payments, including partial completion of payments, resulting from documents related to cash and bank deposits. 

Mutual compensation of receivables and payables, also in the form of additional compensation document. 

Combining documents in Polish currency with payments in foreign currencies. 

 

An enterprise can define any number of VAT accounts in Comarch ERP Altum, e.g. several accounts assigned to different type of purchases or associated with specific transaction type. Comarch ERP Altum allows also for generating VAT-7 and VAT-EU tax returns (along with attachments) on the basis of documents registered in the system

Multi-level chart of accounts 

Comarch ERP Altum enables creating multi-level chart of accounts adjusted to the needs of particular entity, corresponding to it business profile and specifics. 

How does it work? When creating charts of accounts, a company may use defined patterns or add accounts individually. Accounts associated with customers, for example, may be automatically created while adding a new customer or just at the moment of first posting of documents related to that customer.  

The platform allows for defining accounting periods and dividing them into partial periods. Financial year does not have to coincide with calendar year. Economic events are recorded in the program within ledgers grouping transactions of given type, which can be freely created in accordance with enterprise needs. 

 

Automatic posting 

Comarch ERP Altum provides possibility to create so-called posting schemes and recurring posting schemes which enable automatic recording of transactions on accounts on the basis of trade documents. 

How does it work? Comarch ERP Altum allows for creating posting patterns which can be used for including repetitive transactions, also those which occur in recurring periods (e.g. each month or quarter). Mechanisms of posting schemes and recurring posting schemes facilitate the process of posting documents, which contributes to automation of accountant’s work (BPM). 

Comarch ERP Altum allows preparing statements such as calculation or profit and loss statement in a fast manner, as well as defining own statements according to current needs. 

 

Safe and convenient accounting 

To provide maximum safety and avoid mistakes which may entail high costs, especially in the accounting area, Comarch ERP Altum has been equipped with possibility of “draft” posting. 

How does it work? In practice, it means that documents being posted are first saved as unconfirmed (they are saved but not confirmed). Documents posted as unconfirmed may affect trial balance on accounts, but until they are finally confirmed, entries can be deleted or modified. Moreover, before registering economic event in a ledger, the accountant may preview entries which will be created as a result of posting.

 

Multi-currency approach

Comarch ERP Altum system enables registering transactions on accounts both in EUR and in other currencies.  

How does it work? During posting operation, it is possible to create accounts associated with specific currency. The platform improves also calculation of exchange rate differences. Exchange rate difference documents are created automatically and can be posted automatically on appropriate accounts with the use of posting schemes.  

 

Export of payments and import of bank statements 

Comarch ERP Altum system is equipped with tools facilitating electronic exchange of data with bank, both through export of transfers to files as well as import of bank statements from files provided by the bank. 

How does it work? The platform enables defining formats allowing for export of bank transfers and import of statements. Owing to functionality of so-called bank transfer batch files, a company can manage payments processed in a company, their expected dates and amounts. 

 

Full automation of debt collection and completion of payments 

The system allows combining payments and documents, both at the level of applying payment from invoice, which is registered in the system as completion of payment, as well as upon posting payments on accounts as clearings. 

How does it work? Completion of posted invoices is automatically visible on accounts and the other way around – in case of combining entries, their source documents are automatically associated. 

Comarch ERP Altum allows also for monitoring and collection of receivables, thanks to efficient generation of payment reminders, dunning letters and late fees, both as single documents and in a batch. That process can be partially or fully automated. 

 

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