Press Release:

AFS Technologies Releases Complete Accounting and Financial Application Continuing its Modular AFS ERP.NET Roll-out

More info on AFS FINANCIAL REPORTING module >>

AFS ADVANCED FINANCIALS Complete Accounting and Financial Application including General Ledger, Accounts Receivable, Accounts Payable and Financial Statements

AP Voucher Entry (click to enlarge)	Customer Master (click to enlarge)	Vendor Master (click to enlarge)

Other Screens:

Cash Application
Sales Tax

AFS ADVANCED FINANCIALS is a sophisticated, third-generation financial management application specifically designed for the food and beverage industry. With an appealing, easy-to-use Graphical User Interface (GUI), the application offers both a functional and technical update to older character based systems and forms the basis of AFS ERP in .NET. Thousands of food industry professionals use the company’s first and second generation applications daily which has provided a field proven foundation from which to build this new, industry-leading application. AFS ADVANCED FINANCIALS can easily interface to AFS and non-AFS ERP software packages.

More info on AFS ADVANCED FINANCIALS

General Ledger

Accounts Receivable

Accounts Payable

General Ledger
AFS ADVANCED FINANCIALS General Ledger creates detailed audit trails for all transactions. This totally integrated module has definable segment accounts, drill down options to source documents, and easy end of the month reporting. The General Ledger module records all of your business transactions including details of the sale and payment from the customer, the products ordered from vendors, invoices received, and payments made to vendors. By managing all of the General Ledger tasks for your organization, financial professionals can perform daily reconciliations, updates and close the general ledger at period or year end, plus manage journal entries.

Features:

• General Ledger configuration flexibility to support large corporations with automatic roll up capability
• Profit center financial reporting
• Comprehensive company/departmental reporting
• Inter-company accounting for consolidations
• Compare profit and loss and balance sheet financial reports
• o Current to historical
  o Budget to actual
• Detailed monthly budgeting by account
• On demand inquiry capabilities to view account information – drill down from trial balance to source
• Reporting capabilities include reports to review transactions
• Report writer using Crystal Reports for quick and flexible formatting of statements
• Recurring journal entries with automatic reversals
• No monthly closing restrictions and repeatable annual close process

Journal Entries and Set Up

• Multi-Division
  
• Multi-Location
  
• Multi-Warehouse
  
• Multi-Language
  
• Multi-Currency
  
• Five user-defined segments for chart of accounts
  
• Unlimited journal entry
  
• Detailed journals for review and balancing
  
• Recurring standard with automatic reversals
  
• Automated allocation by percentage
  
• Quick setup with auto-populated sub-accounts
  
• User defined posting rules to automate system transactions

Financial Statement Formatting

• Line item account summarization
  
• Allocation of account
  
• Allocation of one line to another (e.g., 20% Administration total to an Operating Department)
  
• Budgets
  
• User definable reports

Fiscal Period Definitions

• Flexible setup
  
• Multiple close dates

History by G/L Account

• Drill down to source documents

Financial Statement

• Drill downs – trial balance to source
• Actual vs. Budget
• Statistical Accounting

Financial Reports & Inquiries

• Income Statement
  
• Balance Sheet
  
• Cash Flow Statement

Other

• Bank Reconciliation – calculates the bank balance and book balance from transactions in the system and allows users to view and reconcile the bank statement on screen and drill down to view/modify the corresponding balances from the statement
• Automated cash flow projection forecasting tool
• Business ratios for trending & analysis using system provided data

Accounts Receivable
AFS ADVANCED FINANCIALS Accounts Receivable provides detailed, client specific accounts receivable information allowing accounting professionals to view credit status, payment history and ADO/DSO trends. When combined with integrated, on-line collection features, companies using this application can increase available cash on a monthly basis. The Accounts Receivable module helps you manage and process any collections that come into the company, including customer payments, credits, and all other information. Also in this module you can keep notes on customers, view their credit history, assess late charges, and print statements.

Features

• View online real-time receivable transactions by customer
  
• View receivables information, on demand, both open and paid
  
• Credit and prior payment history available for all customers with comments
  
• Allows payment for both balance forward and open item with speed entry and automatic matching of invoices based on total check amount received from customer
  
• Define aging terms and finance charges for each of your customers
  
• Assess late charges for invoices not paid on time
  
• Invoice by item detail history for each follow-up on outstanding invoices
  
• Multiple formats of statement printing with delinquent notice ability
  
• Daily sales outstanding formulas for credit management control
  
• Aging reports in detail and summary for management and sales personnel
  
• Collect electronically to eliminate the handling, processing and storage cost of paper invoices. Receive your customer payments with electronic funds transfer (EFT). Customers are set up as EFT payors for a paperless payment. Using Automatic Clearing House (ACH) processing, your customers sets you up as being able to draft money from their account. This eliminates processing checks since you draft the amount due directly from their account.

Credit / Collection tools

• On-line collection features
  
• Customizable statement frequency by customer
  
• Dunning letters
  
• COD Plus – balance is added to invoices
  
• Tickler date follow-up
  
• On-line payment reference
  
• Service charges

Customer Credit Features

• Customer definable credit hold parameters
  
• On-line payment reference
  
• Disputed invoice tracking
  
• NSF and ADO trends
  
• Detailed descriptions and comments

Customer Master

Quick Cash Application

• Auto-apply
  
• To invoice from customer index
  
• By status
  
• Range of invoices
  
• Turbo entry
  
• Allows application of unapplied credits or cash-on-account
  
• Option to flag partial payments as disputed invoices
  
• Calculates cash discounts automatically based on invoice terms
  
• Allocates using cash groups or customers
  
• Cash entry using Lockbox
  
• Ship to, Bill to, Credit to functionality
  
• Auto-applied NSF charges with tie-back to invoice
  
• Write-off options

Reports /Inquiry

• Definable A/R inquiry with aged trial balance
  
• Ability to drill down to source document
  
• Aged trial balance reports set by date
  
• Credit hold reports

Other

• Pricing by market segment

Accounts Payable
AFS ADVANCED FINANCIALS Accounts Payable is tightly integrated into purchase order management, creating the perfect environment for three-way matching. This module also feeds your cash needs requirements based on criteria you set to forecast cash flow. Accounts Payable maintains your company’s complete AP information. Manage vendor invoices including reconciling receiving to the invoices, handling open invoices, and printing checks. The module helps you track, pay and take advantage of any vendor discount for prompt payment of invoices.

Features:

• On-demand status inquiry of vendor accounts online
• Checks paid history review, per vendor, with easy drill down selections
• On-demand inquiry capability for open and paid invoices
• Create accurate reports to determine cash requirements
• Recurring payment coding Automated 1099 processing
• One check per vendor with explanation and invoice number on check stub
• Duplicate invoice detection split and partial payment processing
• Manual and void checks detailed through the system
• Payment of one-time miscellaneous vendors
• Check reconciliation
• Automatic reversal of void checks and canceled checks with option to reinstate
• Automate your payment process to know when to pay so that you can be prompt, on time, and even early to get any vendor discounts.
• Optional automatic printing of checks prior to due date so discounts are not missed
• Pay electronically to eliminate the handling, processing and storage cost of paper invoices. Pay your vendor bills with electronic funds transfer (EFT). Vendors are set up as EFT vendors for a paperless payment.
• Full integration with General Ledger

Vendor Master Maintenance

• Multiple term codes

Invoice Entry

• Batch entry
  
• AP/PO matching with tieback (3-way match)
  
• Pre-defined GL
  
• Automatic discounts
  
• Partial payment schedules
  
• Duplicate invoice notification
  
• Recurring invoices

Check Processing

• Payments selected by pay date, discount date, or vendor
  
• Definable pay dates
  
• Payment hold options
  
• Definable maximums per vendor
  
• Foreign currency
  
• Reports / Inquiry
  
• Check reconciliation
  
• Batch review
  
• Check printing
  
• AP/PO variance
  
• To-pay list
  
• Vendors with debit balances
  
• Cash Requirements

Other

• Costing by product line

“I was excited and very impressed with the functionality and flexibility demonstrated by these new tools, as it will make it easier for clients like us, who are on a legacy, character-based system, to move to the .NET architecture, without having to purchase an entire new system. AFS’s technology strategy offers great value and flexibility to clients like us.”

Vince Cigliano, an owner of Santa Monica Seafood Company, and President of AFS’s Customer Advisory Board.