MAXCloud ERP Financial Management Demos
With access to real-time information across your
organization, easy-to-use inquiry tools, and powerful analysis and
Financial Management in
MAXCloud ERP can help you handle revenue, payables, receivables, and cash flow
efficiently—so you can gain insight into financial performance, plan
strategically, and make confident, informed decisions.
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Cash and Bank Management
Learn how to create and post transactions in a General journal.
Help the Controller record the activity in the prepaid rent expense account. Enter a journal for the prepaid rent expense.
After you enter the transaction information, post the journal.
Daily Transactions with Balance Control: On June 25, 2011,
your Controller received an invoice from a vendor for 800.00 USD. A journal
needs to be created for the expense, debiting the Bank Operating account and entering a second line, crediting
the Vendor. Help the Controller validate the journal and review the balance control accounts online.
Entering Periodic Transactions: It is the end of June and therefore one-sixth of the prepaid rent must be expensed. Accounting staff must make an entry to move the used portion of 1,000.00 USD to Rent Expense.
The Controller asks you to create the Periodic journal and post the June entry.
Register an Invoice:
A typical workflow is to create invoice registers on Monday, view the invoices to be approved in the invoice pool on Tuesday, and if there are enough to process, approve the invoices by using the invoice journal on Tuesday and Wednesday.
Invoice Pool Excluding Posting:
The Accounting Manager has asked the Accounts Payable Clerk to enter invoices to the invoice pool excluding posting.
Help enter the invoices into the invoice pool excluding posting, then
help review and approve them in an invoice journal.
The Accounts Payable Clerk has been asked by the Accounting Manager to enter an invoice into an invoice journal, validate the journal, and then post it.
Help enter, validate, and post the journal.
The CFO has returned from Microsoft Convergence and has submitted her expenses using an outside travel agency called Margie's Travel.
The Accounts Payable Clerk must register and post the invoices, each in a separate journal
- and then validate and post each journal.
Setup and Track a Prepayment:
Create a new purchase order and setup a prepayment for 10 percent of the purchase order total.
Next, post the prepayment invoice for the purchase order created in the previous step.
Process and post a payment journal for the prepayment vendor invoice.
Reverse a Closed Transaction:
The Accounts Payable Clerk realizes the last transaction posted for a vendor account should have been posted to
a different vendor account. Reverse the transaction and check the history to ensure the transaction
is reversed. Then, make a note to enter the transaction correctly in the morning.
Free Text Invoice: The Order Processor has taken an order for consulting design, which she invoices to the customer without creating a sales order. Your task is to help complete the order by creating a free text invoice for the consulting, and then posting the invoice.
Entering an Accounts Receivable Payment Journal (Cash
Receipt): You have received a payment from one of your accounts. Use
the following information to create a payment journal in Accounts
Receivable, and then post it!
Edit Open Transactions: When you check
on one of your accounts, you notice that some transactions are open. Mark them for payment and update the account. To ensure that you have done this correctly, check the Closed transactions for
the account and verify the transactions in the Closed transactions form.
Reverse a Settlement: You are the Accounts Payable Coordinator,
and you just realized that the settlement posted to one of your accounts should have posted to
different customer account, and you now must reverse the settlement to
the new Customer account.
Reimburse a Customer: You
receive a payment from one of your customers and notice they overpayed.
After editing the open transactions, generate reimbursements so that you can reimburse your customers for their overpayments.
Cash and Bank Management:
Create and Delete a Check:
The Bookkeeper must complete a check run that consists of 15 checks, starting with check number 101. The checks are from the EUR OPER bank account.
After the checks were created, the Bookkeeper learned that only 12 of the checks were needed. The last 3 checks must be deleted.
Create a Deposit Slip: The Bookkeeper must enter a deposit for
a customer for $1000 USD. The deposit was made to the USA OPER bank account and the payment reference is 1987. The
Bookkeeper then realizes that the payment reference should be 1988, and
there is an error with the deposit slip.
You have received an overpayment on an account. The Bookkeeper must issue a refund check to
the customer for $396 USD. The system should draw the refund from the US Operating Bank Account.
Create and Manage Budgets:
You have decided to create a contract with a local distributor to purchase car audio equipment in bulk over the course of the next year. The quantities of the equipment to be shipped will vary monthly based on the projected sales for a given month. Create a new budget register entry, and allocate the amounts over the 12-month period by using the Sales curve period allocation key.
Create a Budget Transfer:
The Budget Manager has been analyzing the travel expenses recently and wants to make some changes to the budget to better align the budgets with the sales forecast and travel schedules.
Use Budget Control on a Purchase Order: Recently, administrative expenses are larger than previous years because of additional shifts at the manufacturing plants.
The Controller has decided that the budget available for the Administrative Expense account should be increased. He must first establish the budget amounts, and then users can start to enter the expenses.
Year End Close: It is the end of the fiscal year and the Accounting Manager must create a closing sheet and make
some adjustments. When the adjustments are finished, the Manager must post the closing sheet and create the opening balances for the next fiscal year.
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