ERP Financial Management

4 important questions on ERP Financial Management

A financial accounting begins with a well-designed chart of accounts (COA), what is a COA

is a classification and listing of every asset, liability, equity, revenue and expense that the organization uses to record transactions.
- Must be entered before any transactions can be processed.

What is the purpose of cash management?

is to automate the repetitive steps required to manage a company's cash.

Direct material cost for finished product can be determined using the Bill of material (BOM). What is BOM?

the BOM is master data that lists all the raw materials and sub-components necessary to make a finished product.
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Fixed Asset Life Cycle

1. planning and approval
2. procurement (purchasing)
3. Depolyment (data entry)
4. Use
5. Maintenance
6. Upgrade or overhaul
7. Disposal

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