A/R - Inefficient receivables account for 25% of business failures and most A/R systems are passive accomplices. That’s why BizAutomation A/R doesn’t just sit there, it actually does something about it.
Schedule Email events where the A/P contact receives a customer statement with link to pay with credit card or direct bank to bank ACH payment.
Any A/P software can handle basic payables, but few can efficiently reconcile what your business actually receives relative to procurement agreements to net actual cost savings.
Vendors typically email attached invoices to your A/P department after shipping orders. Everything that happens from the point an invoice is received to when a bill is issued against the PO for payment, typically requires a series of manual integrity checks.
Here’s how BizAutomation can transform you’re A/P department through automation:
Now, when your vendor sends a Bill / Invoice via email, BizAutomation will:
Once approved, an authorized A/P employee can instantly pay vendor invoices via ACH. No need to cut and mail a check.
Multi-Template Invoicing - Data driven documents you share with your customers, vendors, and partners (including Quotes, POs, etc..) can be completely customized in just about any shape and form you can imagine, and that includes templatization, where for example, different versions of invoices can be used for different business strategies, including multi-company or brand designs that can map to different customers depending on geography, business segment, etc...
Fully or Partially invoice orders:
The General Ledger (GL) - Records all your organization’s (including sub-companies, branches, sub-locations, etc..) financial transactions. Everything from manual and automated journal entries, to financial statements, such as the Income Statement, and Balance Sheet, and all of an organization’s various financial accounts and transactions, such as accounts receivable, accounts payable, fixed assets, and inventory – will be represented with drill-down trackability.
GL Accounts & Sub-Account Structure - Define the structure of your GL system accounts and sub-accounts. Organize your reporting and analysis configuration by defining segments, segment lengths, and segment values.
Default Currencies - Set default currencies across trading partners, and business entities.
Calculate Gains and Losses - Automatically calculate realized gains and losses from foreign currency transactions including payments issued and received.
View segmentations across Financial Reports - View financial reports assigned to business entities by currency, or roll-up reports across all entities.
Ideal for organizations with multiple subsidiaries, branches, etc.. dispersed across states, and countries (e.g. Locations in Canada, Mexico, and the U.S.).
Business Segmentation - Run separated financials across geographically dispersed subsidiaries, locations, and jurisdictions that can share walled off segments of a master Chart of Accounts, Item, Customer, Employee, Vendor, and Partner objects.
Consolidated and Segmented Financial Reporting - Ability to report individual financial reports and transactions per location and currency, which can be rolled up into a base currency.
Business Document Templating per Location - Supports completely independent business document design, field data, etc.. so each entity can have their own individual invoices, purchase orders, quotes, etc.. for customers and vendors.
Time, Billing, & Tracking - Because both time and materials, as well as fixed bid projects revolve around time, we created time contracts, which at their core are score cards that can be assigned to each project. As time is allocated to tasks, the score card is updated, decreasing as project time is consumed, so it can be compared against the original budget on a leader board, to help manage the velocity of the project.
Project Labor Billing - Add time as a service line item within a sales opportunity in the CRM’s opportunity management (presented in a Quote or Estimate) then once approved, and converted to an order, it can be billed - automatically updating the project’s P&L.
Profit & Expense (aka P&L) - From the project, track expenses from costs, such as payroll, and other purchase expense line items in purchase orders, as compared to profit from income tied to billable services, and profit margins coming in from sales orders.
Employee & Partner Commissions - Both internal and partner resources (a partner can be a reseller, subcontractor, dealer, etc..) can receive a percentage of the commission minus shipping amounts, credit liabilities, refunds, and taxes. Exclude taxes, shipping costs, as well as shipping markup as needed.
Commission Base - Sales commissions can be based on amounts paid to invoices, total order sub-total, or gross profits (gross profit can be based on a number of formulas).
Multi-Dimensional Commission Formulas - The commission wizard provides the ability to set formulas that incentivize different employees and independent selling partners and subcontractors (e.g. 1099) differently across the same range of items, quantities, and amounts sold. Different formulas can be configured to support any number of incentive strategies, so for example when defining a partner incentive, you might have a tier that starts at higher minimum selling ranges but pays a better commission in return.
Share commission reports with drill down - Everyone with a commission incentive has the ability to see their own incentive status, to find out how much they’ve made for a pay period, or how close they are to reaching a new milestone. Each commission amount can be drilled into, so that the source order, and invoice involved can be audited to confirm that everything is on the up and up.
Managers and senior staff will be able to configure permission to expose all amounts due across all employees and partners, while exposing payroll and commission information to each employee individually where required, without exposing sensitive financial information from other employees and partners.
Gross Payroll - Gross payroll is provided by BizAutomation is used to calculate gross amounts due, which enable you to use 3rd party services separately then generate journal entries in BizAutomation as needed.
Payroll / Human Resources (HR) API integration - Connect to 3rd party payroll, and if needed HR too. We do this because Payroll is best left to organizations that are dedicated to tracking and adjusting to the ongoing regulatory changes, across various jurisdictions.
All pages, tabs and sub-tabs have access control. Create permission groups to define user roles, then assign employees to those groups, so that when view, add, edit, and delete rights are assigned to permission groups, each user inherits the rights allocated to the group. This control is also extended out to reports and dashboards.
Here’s a partial list of financial reports & core financial capabilities.
All reports support full drill-down.
Sales Orders contain a detailed accounting of profit and cost centers related, not just to the specific sales order, but also the constellation of Dropship or Directship Purchase Orders if any, including items, shipping, commissions, and any other element that might impact the gross profit of every order in the system.
All cost sources are displayed, whether they’re calculated by formula, vendor or linked PO, or even edited cost where the person that made the changed and time stamp is provided.