Financial Management Module

The Financial Management module in Angage ERP provides comprehensive accounting capabilities with IFRS compliance, multi-currency support, and advanced financial reporting.

Key Features

📊 General Ledger

Complete double-entry accounting with multi-dimensional analysis

💰 Cash Flow Management

Scenario-based forecasting and cash position tracking

🏢 Cost Centers

Hierarchical cost allocation and profitability analysis

📈 IFRS Reporting

International standards compliance with automated reports

🌍 Multi-Currency

Real-time exchange rates and currency gain/loss tracking

📋 Budget Management

Budget creation, tracking, and variance analysis

Module Overview

Core Components

• Chart of Accounts: Flexible account structure with unlimited hierarchy
• Journal Entries: Manual and automated posting with approval workflows
• Financial Reporting: Balance sheet, P&L, cash flow, and custom reports
• Tax Management: Multi-jurisdiction tax handling and compliance
• Period Management: Monthly/yearly closings with control mechanisms
• Audit Trail: Complete transaction history and change tracking

Integration Points

• Sales: Revenue recognition and AR management
• Purchase: Expense tracking and AP processing
• Inventory: Cost of goods sold and valuation
• Fixed Assets: Depreciation and asset accounting
• Payroll: Salary posting and accruals
• Banking: Reconciliation and payments

Financial Workflows

graph TD
    A[Transactions] --> B[Journal Entries]
    B --> C[General Ledger]
    C --> D[Trial Balance]
    D --> E[Financial Statements]
    E --> F[Analysis & Reporting]

Quick Navigation

• Chart of Accounts - GL structure setup
• Journal Entries - Transaction recording
• Cash Flow Management - Liquidity planning
• Cost Centers - Expense allocation
• Financial Reporting - Statements and analysis
• Budget Management - Planning and control
• Tax Management - Compliance and filing
• Period Closing - Month/year-end procedures

Key Benefits

Compliance & Control

• IFRS/GAAP compliance
• Multi-company consolidation
• Automated controls
• Audit readiness
• Regulatory reporting

Operational Efficiency

• Automated posting rules
• Recurring entries
• Bank reconciliation
• Approval workflows
• Real-time reporting

Strategic Insights

• Profitability analysis
• Trend identification
• Scenario planning
• KPI dashboards
• Predictive analytics

Best Practice

Implement a robust month-end closing checklist to ensure consistent and accurate financial reporting across all periods.