FINANCIAL FORCE: Key Accounting objects delivers ERP at Customer Speed. The FinancialForce covers business operations on the core document types such as Sales Invoices, Purchase Invoices, Credit Notes, and Journals. These operations permit the creation, editing, posting and other document­ specific business functions such as Invoice Schedules.

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Following is the brief description about some of the FinancialForce objects:
  • General ledger Account- A general ledger account is an account or record used to sort and store balance sheet and income statement transactions. Examples of general ledger accounts include the asset accounts such as Cash, Accounts Receivable, Inventory. A listing of a company's general ledger accounts is found in its Chart of Accounts.
  • Sales Invoice- A sales invoice is a document issued by a seller for the request for payment by the buyer, indicating the products, quantities and agreed prices for goods or services that have already been provided. A sales invoice indicates that, unless paid in advance, payment is due by the buyer to the seller, according to the agreed terms.

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    1. Cash Entry - A cash entry can be one of four types:
    2. Receipt – a record of money received from a customer.
    3. Refund – a record of money refunded to a customer.
    4. Payment – a record of money paid to a vendor.
    5. Payment Refund – a record of money refunded by a vendor.

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    These can be in a variety of forms, including cash, check or through some sort of electronic payment system.

  • Journals- A journal is a document that makes corrections or adjustments to your existing FinancialForce data.
    1. A product you have sold was linked to the wrong general ledger account.
    2. One of your customers has been linked to the wrong general ledger account.
    3. A cash entry has been posted to the wrong customer.
  • Transactions- Transactions are created when documents are posted to the general ledger. Some documents are posted manually by users, but other types of document, such as cash matching journals, are posted automatically.
  • Payments and Collections- The Payments tab allows you to perform the following tasks:
    1. Select the type of payment process – payments to vendors or collections from customers.
    2. Select the vendors that you want to pay, or the customers you want to collect from.
    3. [Optional] Refine your selection at account and/or transaction level, including making part payments.
    4. Number your checks, if relevant.
  • Cash Matching : Cash Matching allows you to match outstanding transactions for a selected account.