A successful business can only retain its success when owners and managers have complete control over all business operations. The business definition of decision making includes proper planning and control. This shows that achieving any goals for the business is not possible without proper control. Good ERP reports can help business owners spread full control over a business entity, no matter what scale of size it spreads on.
How ERP Reports Help To Maintain Control Over A Business
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You may be wondering, what is it that an ERP software does that ensures control over business? Well, the best way to maintain control is only possible with productive reporting.
Management and Financial Reporting shows the performance and position of a business. A modern ERP software features a powerful reporting module that can easily generate useful ERP reports.
To produce results, past information is also needed. In order to understand, for example, how much sales have grown for a business’ product, the previous year’s sales reports need to be compared with the current year’s reports.
This will show whether the business is achieving its goals, and if not, which areas need better control.
CISERP – Most Powerful ERP Reporting Module
In CISERP, the business’ main information relating to its performance and position is showed on the front dashboard. This means a user can get a general idea of how the business is performing right after logging in.
To generate thorough reports, CISERP provides access to many ERP reports that can be maintained relating to different modules.
These reports include:
General Ledger Reports
What matters the most in GL Reports is how in-depth the ERP reports can be generated.
In CISERP, GL Reports include:
- Account Ledger
- Cost Center Ledger
- Incurred On Ledger
- Segment Wise Trial Balance
- Trial Balance
These reports can help in different areas for management decisions.
Account Ledger shows all the Accounts, updated with real-time tracking, and balanced off with correct balances.
Cost Center Ledgers shows information about what finances are dealt with in each cost centre. This information mainly helps cost accountants to understand how certain costs can be minimized, which activity generates the most cost, and how cost-beneficial is each activity.
Incurred On Ledger shows the total expenditures incurred in the business.
Trial Balances are summarized in two types. Segment Wise Trial Balance is a categorized version of trial balance that brings forward financial summaries of the business after applying some filters. The other refers to the generic Trial Balance.
Trial Balances are an important tool of the business which list all balances of accounts in the business.
Accounts Payable/Receivables Reports
- Advance PO Aging
- Sales Tax Reports
- Invoice Aging Customer Vice
Reports relating to customers and suppliers help the business with better decision making on which entities/individuals the business needs to keep the relationship with.
Useful ERP reports provide thorough information on the relationship between these entities/individuals.
Ageing Reports can help the managers compare with how long cash inflows/outflows happen as compared to the invoices generated against them. These can help calculate important ERP Accounting Ratios e.g. Receivables, Payables, and Inventory Turnover Period
Sales Tax Reports show what impact sales tax has on the business’ transactions.
For any type of business, inventory is one of the most important aspects of operations. For retail businesses, this inventory is the source of their income. For a manufacturing business, this is a source of income and production. Even for a service business, large inventories are the only factor that significantly enables the service to be produced.
With such significant importance, proper inventory reports are needed to ensure business operations never expect delays or shortages.
A good ERP software produces ERP reports such as:
- Gate Entry
- GRN Wise Purchase
- Inventory In /Out
- Issue Transaction Wise
- Item Status Account Code Wise
- Stock Ledger
- Stock Return Report
All these inventory reports are useful to various different users. Each inventory ERP report generates results in a classification useful for good management. The most popular of these reports are GRN Wise Purchase, Stock Ledger, and Stock Return Report.
One of the most complex tasks for accounting is maintaining purchase invoices against GRNs. ERP integration can help businesses ease this task up with the use of the GRN Wise Purchase Report, showing each purchase against its respective GRN.
Stock Ledger shows all the movements in a company’s stock in a financial manner. These include stock classification as per Raw Materials, Work In Progress, and Finished Goods.
Stock Return Report shows all information relating to purchase returns of stocks.
Other ERP Reports in CISERP
The above-mentioned reports are only the most important and popular reports used commonly in an ERP. Other than these, CISERP is capable of generating tons of other reports, each useful in its own classified manner. These reports include, but are not limited to:
- Comparative Statements
- PO Book
- Dispatch Detail
- DO Register
- Sales Report
- Contract Wise
- Fixed Assets
- Business Partner
- Detail Wise Business Partner
- Status Business Partner
- Trial Balance
- Bank Position
- Bank Status
- Open Delivery
- Order List
- Open Dispatch
- Customer Open
- Supplier Wise Pending
- Sales Order
- List PO
- Outstanding Pending
- Approval User
- Document For Approval
To make use of ERP reports and lead your business to success, get the best ERP software right now!
To get the hang of CISERP, register for a Free ERP Online Demo.