The Finance module in an ERP (Enterprise Resource Planning) system is crucial for managing an organization's financial transactions. Its primary purposes include:
- Records and tracks financial transactions (general ledger, accounts payable/receivable, bank reconciliation).
- Monitors cash flow to optimize liquidity and manage financial risks.
- Manages banking transactions.
- Generates balance sheets, profit & loss statements, and financial reports.
- Manages asset lifecycle, depreciation, and valuations.
- Ensures proper asset tracking and maintenance.
The list of masters used for the finance module transaction is mentioned below.