Enterprise resource planning (ERP), Oracle

• Oracle E-business Suite 
• Oracle Financial 
• Oracle Supplychain (SCM)

Enterprise Resource Planning (ERP)

An Enterprise Resource Planning (ERP) system is an integrated computer-based application used to manage internal and external resources, including tangible assets, financial resources, materials, and human resources. Its purpose is to facilitate the flow of information between all business functions inside the boundaries of the organization and manage the connections to outside stakeholders. Built on a centralized database and normally utilizing a common computing platform, ERP systems consolidate all business operations into a uniform and enterprise-wide system environment.

Main Features of our ERP include:

• Financials
• Supply chain management (SCM)  
• Manufacturing
• Warehouse Management 
• Distribution
• Customer Relationship Management (CRM)
• Decision Support

Oracle Financials:

Oracle Financials products provide organizations with solutions to a wide range of long- and short-term accounting system issues. Regardless of the size of the business, Oracle Financials can meet accounting management demands with:

Oracle Assets:

Ensures that an organization's property and equipment investment is accurate and that the correct asset tax accounting strategies are chosen.

Oracle General Ledger:

Offers a complete solution to journal entry, budgeting, allocations, consolidation, and financial reporting needs.

Oracle Payables:

 Lets an organization process more invoices with fewer staff members and tighter controls. Helps save money through maximum discounts, bank float, and prevention of duplicate payments.

Oracle Cash Management:

Lets you perform bank reconciliation and cash forecasting.

Oracle Receivables:

 Improves cash flow by letting an organization process more payments faster, without off-line research. Helps correctly account for cash, reduce outstanding receivables, and improve collection effectiveness.

Oracle Supply Chain Management (SCM):

Supply chain management (SCM) is the oversight of materials, information, and finances as they move in a process from supplier to manufacturer to wholesaler to retailer to consumer. Supply chain management involves coordinating and integrating these flows both within and among companies. It is said that the ultimate goal of any effective supply chain management system is to reduce inventory (with the assumption that products are available when needed).

 

Oracle Inventory:

Helps an organization make better inventory decisions by minimizing stock and maximizing cash flow.

Oracle Order Management:

Provides organizations with a sophisticated order entry system for managing customer commitments.

Oracle Purchasing:

 Improves buying power, helps negotiate bigger discounts, eliminates paper flow, increases financial controls, and increases productivity.

Oracle Sourcing:

 Online negotiation with suppliers and online interaction with supplier tracking receipt

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Chart of Account (COA)

A chart of accounts (COA) is a created list of the accounts used by a business entity to define each class of items for which money or the equivalent is spent or received. It is used to organize the finances of the entity and to segregate expenditures, revenue, assets and liabilities in order to give interested parties a better understanding of the financial health of the entity

Chart of Account Components:

1) Assets
2) Liabilities
3) Owners' Equity
4) Revenues
5) Expenses

The structure of the chart of accounts is important because it helps organize the accounts and identify their location...

The structure of the chart of accounts is important because it helps organize the accounts and identify their location...

Asset Accounts:

Cash, Bank Accounts, Accounts Receivable (Debtors), Prepaid Expenses, Inventory (Stock on Hand), Land, Buildings, Vehicles & Equipment, Investments & Stocks, Accumulated Depreciation and Other Assets

Liability Accounts:

Accounts Payable (Creditors), Credit Cards, Tax Payable, Employment Expenses Payable, Bank Loans,

Stockholders' Equity Accounts:

Common Stock (Share Capital), Retained Earnings (Revenue Reserves), Drawings

Revenue Accounts:

Sales Revenue, Sales Returns & Allowances, Sales Discounts, Interest Income,

Expense Accounts:

Advertising Expense, Bank Fees, Client Expense, Depreciation Expense, Payroll Expense, Payroll Tax Expense, Rent Expense, Income Tax Expense, Office Expense, Utilities Expense

Rules for Debit (DR) and Credit (CR):

Oracle Fixed Asset (FA)

Oracle Fixed Assets (FA) module is one of the Oracle Financials modules and is very flexible package for managing all the fixed asset management for any organization.
Oracle Assets can help enterprises lower administrative costs by streamlining data management.

Transactional Flow from AP > FA>GL

Modules Activities:

Additions:

Depreciation:

Retirement:

Prepaid Services:

Tax Book Maintenance:

Capitalized Leases vs. Operating Leases:

Period-End Process:

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