BFO Financial Accounting System is the heart of the system. With very well and flexible design, BFO financial system provides you a suitable accounting system including both financial accounting and management accounting. With BFO auto generating report system along with BFO Posting profile system, you can use a range of pre-defined reports or your own customized company-specific reports help the financial and accounting department work effectively and productively. “BFO streamlines your process so that your business runs fast and lean”. With BFO®, you’ll always know the status of your business at any given moment. Business and financial information is always up-to-date and integrated with all your sales and marketing information so you can easily view the specific information you need to make informed decisions. BFO® is much more than just a powerful accounting tool, it helps you understand what your figures represent, so what gets measured gets done.
BFO® makes it easy to spot trends and gain insight into your business activities, so you can capitalize on your knowledge and explore new business opportunities, which might have otherwise been difficult to spot. You can automate many of your financial practices and procedures according to your needs, so you define the level of control that you want. From integrating payment information with purchase data, to complete drill down and filtering capabilities, BFO® provides clear visibility for all your financial transactions.
Key feature worksheet
General Ledger, Allocations, Budgets, Financial Report Generator, Responsibility Centers, Audit Trail, Fund/Bank Account, Bank Reconciliation, Account Receivables, Account Payables, Salespeople /Purchasers, Sales Invoice, Purchase Invoice
General Ledger
You use this feature to set up a company and post to the general ledger.
• The feature provides you with the basic facilities necessary for setting up a company and posting to the general ledger: chart of accounts, general journals, VAT facilities, recurring journals and source codes.
It also includes facilities for internal and external reporting.
• The feature allows you to post and report in the company’s base currency. If you also purchase the Multiple Currencies feature, you can post and report in an additional currency as well.
• The feature allows two languages from the beginning – the English US language and the native language for the particular country.
• The feature allows 1 instance of BFO Application Server.
This feature must always be included as part of the initial purchase of a solution because it includes 1 session and the first company.
Allocations
• This feature allows you to allocate general ledger entries to combinations of accounts, departments and projects (analysis codes) using allocation keys.
• You can use periodic general journal to facilitate your periodic allocation.
• The allocation keys can be based on amount, percentage or quantity. Allocations can be used for many purposes, for example, when allocating overhead (such as rent) to company profit centers.
Requirements: General Ledger
Budgets
• This feature allows you to work with budgets in general accounts.
• Once you have created a budget, you can print a balance compared to the budget showing variances by percentages. You can work with several budgets. Budgets are normally entered per period for the
relevant accounts. You can create, copy and work with any number of budgets at the same time. You can work with, for example, a 100% budget, a 110% budget, and so on.
Requirements: General Ledger
Financial Report Generator
You use this feature for defining your financial reporting. You can arrange reports based on the figures in GL Entry data from the chart of accounts as well as budgets, but with a different arrangement of financial figures, texts or details than in the chart of accounts. The Financial Reporter feature is like a filter for the accounts that enables you to choose the accounts that you want to include (or not include). You can also use it to change the order of the accounts or combine the figures in various ways, and you can set up which columns to print. In addition, it is possible to make simple calculations.
Requirements: General Ledger
