In any modern Enterprise Resource Planning (ERP) system, the Finance Module is the one that handles core accounting, budgeting, and financial management functions. It is as important as what a central nervous system is to a human body, integrating all information from other functional modules to reflect in money’s worth. The Finance Module is also sometimes referred to as Financial Accounting Module or Core Finance Module or Financial Management Module. The Finance Module maintains a standard Chart of Accounts of the Company through which monies spent on various counts can be summarized, analyzed, and decisioned for improvement.
Sustained and profitable growth in today’s competitive market, especially in the Retail industry demands comprehensive financial planning, management, and 360-degree visibility of overall financial transactions and processes, in compliance with statutory and regulatory norms. With an Integrated Finance and Accounting (F&A) module built for Retail Industries, modern Retailers easily manage their financial transactions, Payments, Cash Flows, Revenues, and Profits. The Financial Accounting module also covers standard accounting and finance transactions, such as expenditures, general ledger, bank reconciliations, balance-sheet, tax management, and various other payments like Budgeting, Assets Amortization, taxation, P/L, reporting as well as the Opening and Closing of the Accounting periods.
Retail ViVA’s integrated Finance and Accounting (F&A) module enables Retail leaders to thoroughly understand their cash inflow and outflow better, transform and streamline their processes and operations across all their stores. With real-time visibility into the financial performance of the Retail business from a consolidated level down to the individual transactions, Retail ViVA’s Finance and Accounting (F&A) module facilitates trading reports, category performance measurements, gross profit analysis, profit tracking, reporting, spend analysis and regulatory compliances of publishing financial statements at periodic intervals. Further, it aids in decision making, scenario generation, what-if analysis, competitive benchmarking, growth tracking, and purpose achievements. Further, it also helps to consolidate various subsidiaries to look at group performance a single company, as if there are no subsidiaries involved.
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