Abel includes a comprehensive financial accounting system centered around the General Ledger that’s updated in real time as transactions occur.
Abel’s General Ledger
Enterprise wide visibility across all your financials
Abel’s General Ledger processes very large transaction volumes and handles multiple companies, branches and currencies. Automatic transaction posting ensures entries are accurate, reducing manual workload. Abel makes it easy to examine the detail that makes up each figure. Our reporting toolset allows you to design and build your own reports and extract data for external applications or BI tools.
Abel’s General Ledger includes:
- High volume, real-time transaction processing
- Configurable Chart of Accounts and unlimited configurable ledgers
- Customized postings in current, prior and future periods
- Standard, reversing and repeating journals
- Multiple companies and branches
- Tax capability to suit most countries’ GST, VAT or Sales Tax
- Inter-company postings across different countries and currencies
- Full financial reporting
- Budgets and forecasts
- Configurable data extracts
- Multi-currency consolidation for reporting to head office
Abel’s Enterprise Financial Management toolset works across multiple Abel databases and includes enterprise financial ledgers, centralized account period control and multi-database reporting.
Abel’s Accounts Receivable
Manage your critical debtor relationships and cash flows
Abel’s Accounts Receivable works seamlessly with the General Ledger, Sales Order Processing and Customer Management, as well as other Abel ERP functionality.
Abel’s Accounts Receivable includes:
- On-screen aged balances
- Automatic credit limit alerts
- 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
- Sales tax, GST, VAT and other charges on invoices
- Discounts and credit terms and credit limit per debtor
- Full foreign currency invoicing and receipting with exchange rate gain or loss handling
- Contracted exchange rates per debtor
- Part payments, deposits and progress payments
- Direct credits and banking schedules generated automatically from accumulated receipts
- Invoice, statement and reminder notices for print or email
- Multiple contacts and multiple delivery addresses
- Automatic spreading of revenues
- Debtor reporting
If your business has multiple Abel databases, you can manage receipts from customers who trade with several of your branches. Using Abel’s inter-database capability, you can allocate one customer receipt to multiple customer invoices located in any of your Abel databases.
Abel’s Accounts Payable
Manage relationships with suppliers and use cash reserves efficiently
Working seamlessly with the General Ledger and other Abel ERP functionality, Abel Accounts Payable provides many automatic features for supplier management and creditor processes.
Abel Accounts Payable Provides:
- On-screen aged balances
- Drill down from aged balances to individual 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 and progress payments
- Discounts and credit terms per supplier
- 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 for one-off suppliers
- Import approved employee expenses and / or company credit card expenses from Expensify®
- Spread capability posts expenses across multiple months automatically
- Automatic balancing of accrued expenses by invoice
- Creditor reporting
If your business has multiple Abel databases, you can replicate supplier records from head office to branch databases, so all branches use the same supplier details. You can manage and pay suppliers centrally to streamline processing and reduce local administration. Centralized processing produces cost savings and enables you to realize other benefits like contracted supplier pricing across the whole organization.
Abel’s Fixed Assets
Manage fixed assets easily and efficiently
Abel’s Fixed Asset transactions post to the General Ledger in real time. Abel calculates depreciation a year in advance and adjusts automatically, so that the true value of each asset is always known and correctly shown in the Balance Sheet.
Abel’s Fixed Assets includes:
- Asset and Property register
- Transactions to acquire, depreciate, transfer, adjust, revalue and dispose of assets
- Part-purchase, part-dispose and manage pooled assets
- Asset improvement handling
- Asset history
- Book and tax depreciation registers
- Consolidation of depreciation to any company, division or branch
- Straight Line or Diminishing Value depreciation
- Daily, Monthly or Next Month depreciation methods to suit most countries
- Comprehensive reporting
- Compound assets with multiple parts (purchased in different months) can be combined into one asset code and depreciated as one.
Abel’s Intangible Assets
Manage Intangible Assets within Abel
Abel manages intangible assets in a similar way to Fixed Assets except intangible assets are amortized rather than depreciated.
Intangible Asset Register includes:
- Monthly Amortization Journal
- Automatic amortization reversal at the end of the amortization period
- Intangible Asset Reporting
Abel’s Cash Management
Automated features make cash management simple
Abel’s Cash Management enables your business to maintain reconciled cash balances on multiple bank accounts, in any currency.
Abel’s Cash Management includes:
- Multiple bank accounts including foreign currency bank accounts
- A cash balance that reflects the true cash position
- Bank reconciliation with real-time update of the reconciled cash balance
- Automatic “cancel payment” function
- Bank deposits built automatically 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 main currency to the General Ledger
- Multiple bank accounts at company level and enterprise-wide
- Management reporting and cash flow analysis
If your business has multiple Abel databases, you can administer multiple bank accounts in different locations. Abel creates the necessary inter-database transactions and postings. You can create bank journals between different databases’ bank accounts and Abel manages all the transactions in all the databases that are affected by the bank journal.
For more information, refer Enterprise Financial Management and Inter Database Banking.
Abel’s Project Accounting
Maintain control and visibility across all your projects
You can account for projects within the main financials, Abel collects Project revenue and expenses as part of normal transaction processing.
The full functionality of Abel’s main financials can be applied to your projects as well.
Abel’s Project Accounting includes:
- Project costing
- Project budgeting
- Full financial accounting for projects
- Projects within projects
- Jobs within projects
- Matrix views of Projects by GL Account or GL Accounts by Project
What our customers say:
co-founder - Deep Creek Brewing Company
"“Working with Abel went as well as I could expect. We changed from three different software systems to one integrated system and it was working perfectly within a month.”"
Chief Executive Officer - Dairy Technology Services
"We couldn’t be happier with Abel,” he says. “Automating our processes has made us so much more efficient. We have fewer people working on manual tasks, we’ve cut costs and we now have the traceability and visibility we needed across our business. That’s making it easier for the whole organization to succeed."
Director - NZ Drinks
"For NZ Drinks, automation was a great decision, and Abel’s robustness and flexibility provides us with a great foundation for growth,” Kyle says. “If we wanted to quadruple our business tomorrow, we wouldn’t have to change anything."
General Manager - Disc Brakes Australia
"Once you configure Abel to suit your business processes, it just delivers. You get a system that can handle a very high level of complexity which would cost a lot more if you went anywhere else. I hate to think where we might have been today without Abel."
Director of Information Technology - Alsco
"Abel spent time getting to know how our business works and how to make us better. Our accountants are all amazingly surprised how much the new system has simplified their lives. We’ve already reduced the time for closing our monthly reports from nine or ten business days to four."
Latest Abel News
Abel Software COVID-19 Update.
January 10, 2022
Update – 10th January 2022 NOTE: The information in this blog is correct at the time of writing. Please refer to the Ministry of Health NZ website and the Covid19 website for the latest information, as the Government may change… Read more »... Read More >