The last section of the PHysical application concerns the financial transactions (invoices, debit/credit notes, finalisations, commissions, taxes, etc.) and operations (cash management, cost accounting, off-balance sheet, etc.).
All the PH financial transactions, like the PH contract and other CMStrade transactions, are detailed (even taxes), flexible, but fully verified, with extensive text options in their documents.
They require little input and no reconciliations as they obtain most of their data from those already existing elsewhere.
After acceptance, they integrate with the other applications, including update of relevant trade and stock positions.
The finalisation process is very complete, from the initial quality, quantity and price specifications in the PH offer or contract, the recording of the actual values, the calculation of the variances, if any, to the automatic preparation, for acceptance, of the due quality, quantity and price finalisation invoices and terminate with integration into the other applications.
A vital role of the PH application is to reflect its current financial situation in the financial applications, resulting in:
■ less work (e.g. automatically creating cash management data from invoices);
■ more accurate information (e.g. cost centers show all, even minor, actual revenues and costs);
■ more supplementary control (e.g. reporting positions in off-balance accounts changing the nature of risks from open position to financial).
For information on Operations, Output
and Transactions, please see Data.
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