Accounting

The accounting software is at the heart of the Enapps ERP implementation and can be used as a complete Sage replacement. All other modules are fully integrated with the accounting functions. Accounting functionality within the Enapps system consists of a robust set of core bookkeeping, financial configuration and management accounting features.

Beyond standard accounting software, we also provide significantly enhanced features such as CIS integration, Making Tax Digital, Project Accounting, Dunning, Multi-Company and Group Consolidation. Accounting departments notoriously spend inordinate amounts of time preparing reports, re-entering data from other software programs, or struggling with a copious amount of spreadsheets which model part of the financial processes that the existing solution is incapable of delivering. When using the Enapps ERP system, time consuming activities like group consolidations or management reporting are completed with the click of a button, potentially saving days of time. The Enapps ERP accounting software will increase the accuracy of your financial data, prevent users from making mistakes and allow simple actions like reversing a transaction for correction. Learning the accounting modules in the Enapps ERP system is simple for any accountant or bookkeeper, who will be comfortable using the software after only about one week.

How to benefit from the Accounting features

Audit trail

The ERP keeps track of all changes in the accounting module. Records are kept updated with the date when ERP users change various data in invoices, payments, or other financial transactions, maximising data security and integrity.

Multi-currency transactions

The system fully supports multi-currency transactions. Pay invoices from different currency bank accounts, record payments in different currencies with any exchange rates variations being written off automatically along with the ability to deliver customised flexibility. Any foreign currency you may trade can be automatically updated in the ERP system with daily exchange rates.

Banking integration

The Enapps ERP integrates with your bank for payments and statement reconciliation. See our integrations page for other examples of system integrations.

Bank revaluations

This functionality re-evaluates the selected bank and/or loan accounts denominated in foreign currencies according to the exchange rates at a selected date.

An example process follows:

    • A wizard will take the month end foreign currency balance and compute it into the base currency balance at the selected day exchange rate.
    • The calculated base currency difference will be displayed on screen.
    • Upon confirmation the wizard will post the exchange rate difference journal to the relevant revaluation account as selected in the model’s settings.
    • The exchange revaluation history will be kept in a separate view with the option to cancel certain transactions if required (providing the adequate permissions are given to the operator).

Payment runs

ERP accountingThe system provides an intuitive tool to manage your payables and export the information into your banking system such as the ‘BACS 18’ format standard or any other custom format. The system can then e-mail suppliers remittance advices. Payment approval workflows can be added to allow certain system users to initiate a payment run and then get others to authorise the run.

UK chart of accounts

The Enapps ERP system has a very flexible chart of account structure, but also contains a standard chart for UK based companies. It has a similar accounts and tax structure to Sage Line 50 yet with a more up to date layout which allows easy CT600 (corporation tax return) filing.

UK VAT100

Enterprise accounting softwareThe Enapps ERP system fully supports the UK VAT100 monthly and quarterly processing standard.

This allows the following functionality:

  •  Ability to include transactions from previous periods which have not been submitted before.
  • Mark as reconciled each transaction that has been already reported with its own identifiable link to the specific return.
  • New views to assist the VAT pre-submission checks and validations.
  • Print the VAT100 return as well as a full transactional VAT report.
  • Automatically update the VAT reporting period upon each submission.
  • Automatic calculation of VAT owed/due and posting of the VAT submission journal to 2202 – VAT liability, clearing the sales and purchase VAT nominal accounts.
  • The journal is also linked to the HMRC VAT partner account.
  • Documenting each submitted return for future and audit reference, ready for re-printing at any time.

When a transaction is included in a VAT return, it doesn’t allow cancellations.

Periodical schedules

Accounting solutionsThis functionality allows easy management and periodical posting of accruals & prepayments as well as management of fixed assets. The logic will be familiar to any users of standard UK accounting software and comes with our usual smart flexibility logic, which provides the ability to modify an existing schedule and the auto-recalculation of future postings. It is also easy to print a schedule for audit or management review purposes, whether it is detailed or just a summary.

Dunning run

The dunning run is the process of chasing debt with reminder letters. The dunning functionality makes chasing customer debt quick & easy. Letter templates are defined and you configure your run by choosing which customers you want to include, based on the amount outstanding, period and other useful options. The dunning run will produce a full set of letters to e-mail or post out to your customers with whatever content you stipulate, be it a final demand, or just a statement of account. This saves time, increases cash flow and lowers your debt.

Financial statement template reporting

Financial statement template reporting (FSTR) allows you to configure any financial reporting structure in a printable template. For example, you can build up a trial balance, or set up account grouping structures for management accounting software purposes, which can be different from your standard chart. You can also link to these templates with Excel spreadsheets, thus providing use of powerful pivot tables for data manipulation and all data is processed in real-time.