Abel provides a fully integrated financial accounting system centered around the General Ledger. Abel Financials include: Accounts Receivable, Accounts Payable, Fixed Assets, Project Accounting, and Cash Management.
Abel is a real-time system updating the General Ledger and the other functions as transactions occur.
General Ledger
Abel’s General Ledger provides a superior level of flexibility, usability and automation, making the financial management of your business easier.
The Abel General Ledger is able to process very large transaction volumes without hesitation. This is combined with an automatic transaction integrity checking and multiple company/branch handling capability. Automatic transaction posting is provided ensuring that manual postings and journal entries are accurate which reduces posting workload and errors.
Accessing the information you want in the Abel General Ledger is simple. Abel’s integrated reporting allows you to design and build reports for most combinations of data contained in the General Ledger. Data can be easily extracted to use in external applications.
The features provided in the Abel General Ledger include:
- High volume, real-time transaction processing
- Real-time transaction integrity checking
- Automatic posting to the General Ledger
- Client specified Chart of Accounts
- Postings can be made to the General Ledger in past or future periods
- Soft ledgers allow unlimited ledgers with unique, client defined titles
- Standard, reversing, repeating and returns journals
- Multiple companies, divisions and branches
- Automatic inter-company postings in any currency
- Multiple currency and international tax handling
- Full financial reporting
- General Ledger data can be extracted for manipulation in external applications
- Reports can be consolidated into one currency
- Budget and Forecast handling
Accounts Receivable
Abel Accounts Receivable is designed to help you manage those critical debtor relationships and cash flows.
Abel Accounts Receivable is fully integrated in the Abel system. It has seamless links to the General Ledger, Sales Order Processing and Customer Management, as well as other Abel functionality.
The features provided in Abel Accounts Receivable include:
- On-screen aged balances
- Hot links from each line on the aged balances screen to corresponding overdue invoice documents
- Open item and balance forward receipting modes with free interchange between them
- Includes sales tax, GST, VAT and other charges on invoices
- Automatic application of discounts, penalties and interest
- Unlimited number of debtor’s ledgers
- Full foreign currency invoicing and receipting with exchange rate loss or gain handling
- Part payments handling
- Automatic building of direct credits and generation of banking slips from accumulated receipts
- Statement and reminder notice printing
- Multiple contact and delivery addresses
- Automatic spreading of revenues
- Debtor reporting
Accounts Payable
Abel Accounts Payable provides you with the means to maintain better relationships within your supply chain and to maximize the efficient use of your cash reserves.
Abel Accounts Payable provides many automatic features to streamline the creditor management process.
Abel Accounts Payable is fully integrated in the Abel system. It has seamless links to the General Ledger, Purchasing and Customer Management, as well as other Abel functionality.
The features provided in Abel Accounts Payable include:
- On-screen aged balances
- Hot links from each line on the aged balances screen to corresponding supplier invoice documents
- Open item and balance forward payment methods
- Build and post payments directly from the supplier invoice document
- Multiple payment methods, including check/cheque, direct credits, drafts and bank transfers
- Periodic payments handling
- Payment terms and discounts
- Automatic and manual check/cheque generation and printing
- Make payments in foreign currencies
- Bank reconciliations on multiple bank accounts, including foreign currency accounts
- Miscellaneous payments (one-off supplier) handling
- Spread expenses up to 12 months in advance automatically
- Automatic balancing of accrued expenses by invoice
- Unlimited creditor ledgers so all creditors can be individually accounted for
- Text notes can be included against supplier invoice documents
- Creditor reporting
Fixed Assets
Abel Fixed Assets provides for effective management and accounting for your fixed assets.
Abel Fixed Assets takes the complexity out of managing fixed assets. All transactions within Abel Fixed Assets are automatically registered in the General Ledger. Depreciation is automatically calculated a year in advance, and any adjustments for depreciation are accounted for automatically, so that the true value of assets is always known and correctly shown in the balance sheet.
The features provided in Abel Fixed Assets include:
- Asset and Property register
- Assets can be revalued, depreciated, disposed or acquired
- Part-purchases, part-disposals and pooled assets handling
- Asset improvement handling
- Asset history
- Acquisition of asset directly from purchase orders or from within Fixed Assets
- Asset transfer audit trail
- Book and tax depreciation registers
- Consolidation of depreciation to any company, division or branch
- Straight Line or Diminishing Value depreciation
Cash Management
Abel Cash Management includes many automated features designed to make cash management processes easier.
Abel Cash Management enables your business to have reconciled cash balances on multiple bank accounts, in any currency, on a constant and consistent basis. Bank deposits are automatically built from accumulated receipts and payment cancellations. The bank statements can be quickly reconciled with the bank accounts, maintaining accurate and real cash balance information.
The features provided in Abel Cash Management include:
- Multiple bank accounts are accommodated, including accounts in foreign currency
- The organization’s overall cash balance reflects the organization’s true cash position
- Bank reconciliation with real-time updating of the reconciled cash balance
- Automatic “cancel payment” function
- Automatic building of bank deposits from accumulated receipts
- Automatic or manual check/cheque writing
- Debtor invoice or miscellaneous payments
- Creditor invoice or miscellaneous payments
- Direct credits and foreign bank drafts
- Optional automatic creation of payments or receipts by due date
- Manual or batch check/cheque production
- Repeatable payments and receipts
- Bank transfers
- Foreign currency bank account revaluations
- Multiple accounts in multiple currencies posted and consolidated in the base currency into one total on the General Ledger
- Multiple bank accounts at Global and Company level
- Management cash flow analysis and reporting
Project Accounting
Abel Project Accounting allows for projects to be accounted for inside the main financial system. This enables the business to have accountability for all projects.
All revenues and expenses associated with a specific project can be charged to that project. Projects can be treated the same as any other business unit within Abel, with all the costs and revenues associated with each project fully accounted for. The financial progress of each project can be tracked and budgets and measurable objectives allocated in the same way you can with any other business unit. This improves the measurability and control over ongoing projects, allowing better decisions and project viability and potential throughout the life of the project.
The features provided in Abel Project Accounting include:
- Project costing
- Project budgeting
- Full financial accounting for projects
- Project within projects supported
- Jobs within projects are supported