Financial management is a major area of finance. Several solutions are available for this task, most of which are used by enterprises. QAD Enterprise Applications support these processes as well.


Cash Flow

Financial stability at all times is a key factor in the operation of a company. Part of this is planning and tracking continuous, everyday incoming and outgoing cash flow. Daily and planned cash flow can be calculated from this, which is essential for financial management.


Receivables Management and Credit Management

Aging customer credits, tracking planned payment deadlines and operative management of overdue receivables are highly important for the effective operation of business partnerships. With the Receivables Management solution, aging of current customer credits can be performed, the status of overdue receivables, formal notices, and notifications of interests on late payment can be tracked.

Credit Management is based on the same principles and can be used in the management of supplier credit.


Banking interface

Financial management is divided into three large units in the QAD Enterprise Applications solution. Electronic payments are accounted in the complex Bank Module.

By creating bank master data, every financial institution the company has dealings with can be defined. Methods for the calculation of money management can be set in advance for each bank, i.e. whether the balance of bank accounts in foreign currencies should be calculated at bank rates, according to the FIFO method or with average prices. According to the parameters, calculation is performed immediately in the application based on recorded account statements.

With the MNB exchange rate load function exchange rates are automatically loaded into the system, and when account statements are recorded, transactions are calculated according to the current assessment principle.  Cash flow calculated with the FIFO method can be checked on an interactive interface, where it can track which incoming payments were settled with which outgoing payments.

Loading bank statements electronically has become a routine practice. Through an interface, the QAD solution can read and process data from the document in a special file format.

The automatic bank transfer and bank account read applications of the system are devised in compliance with guides and sample files of Hungarian and foreign financial institutions.

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