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Workcube ERP  
Finance-Accounting-Budget

All financial and accounting transactions are recorded in 3D in Workcube. These dimensions consist of Accounting, Current, and Budget. In other words, the accounting, current account, and budget movements of all transactions are recorded at once. Also, each transaction has 3 currencies: Transaction currency, accounting/local currency, and system 2nd foreign currency. Thus, you provide a three-dimensional and three-currency control mechanism in your business.


Accounting, Current and Budget Dimensions

Uniform accounting accounts are naturally hierarchical and vertical. Most of the time, trying to follow the needed details with accounting charts or codes creates long hierarchical data. For example, consider a business with more than 10,000 stocks, more than 10,000 customers, 1,000 suppliers, 100 branch offices, 1,000 employees. If separate accounting codes are to be created for each product or customer, a huge chart of accounts will emerge.

Accounting records are the legal records of a business. You follow tax and other legal obligations through accounting records. Every monetary transaction you make will be reflected in the accounting statements. When you issue an invoice, an accounting receipt consisting of customer and supplier accounting codes, accounting codes of products sold or purchased, and tax codes is issued.

W3 creates accounting receipts as well as current transaction records. There are data in the current transaction records that you cannot keep in the accounting account. For example, the customer will pay a sales invoice in 10 installments. While debiting the customer accounting account equal to the total of the invoice in the accounting records, this debt can be written by dividing it by 10 and specifying the due dates in the current transaction records. In this way, you can more easily manage the transactions that you will have difficulty in seeing in the accounting records, with the "Current" dimension, while performing debt receivable management and cash flow management.

There is a similar situation in budget transactions. Let's take a cost transaction. When the cost is recorded, naturally, the cost is recorded in the accounting code associated with which accounting codes. Along with the cost amount, a receivable is recorded to accounts such as cashier, bank, credit card. However, sizing these costs and dividing them when necessary, and reflecting them on the budget provides better management and control opportunities to managers and employees. In budget transactions, there are categories, items, cost, and income centers and persons. For example, consider a company building. You pay the electricity bill to this building every month. If there are sales, finance, and project departments in the building and you want to manage and control each department as a revenue and expense center, you need to divide the electricity bill and distribute it. Of course, you can try to make these distributions with the accounting records, but the budget setup will give you much more meaningful and easily manageable tools. The budget also means target. W3 Budget tools; It is the mechanism that controls income targets and spending limits in real-time.

This three-dimensional mechanism also offers you in-house control opportunities. You can design these control mechanisms as you wish according to your organization.

Example Application: The secretary enters the invoices into the system with the "Pre-registration" transaction type. When an invoice is recorded with this status, only Stock and Current Transactions are made. When the accounting specialist controls the invoices and updates them with the "Accounting-Budget Control" transaction type, the accounting and budget records of the invoice are created.


W3's 3 dimensions and 3 currencies.

List of Accounting, Current and Budget Transactions with business functions

Function
Accounting
Current
Budget
Incoming Money Transfer
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Outgoing Money Transfer
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Credit Card Account Transfer
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Credit Card Collections
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Payments by Credit Card
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Exchange Valuation Transactions
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Bank Withdrawal
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Bank Deposit
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Current Account Transfer
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Current Account Receipt
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Current Period Opening
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Current Exchange Rate Valuation
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Bonus Payment Transaction
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Check Exit Register-Endorsement
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Check Exit Register -Bank
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Check Exit Register-Bank Guarantee
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Check Exit Register - Collection
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Check Entry Register
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Check Exit Register - Return
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Check Entry Register - Return
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Check Entry Register -Bank Return
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Check Transfer
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Note Exit Register
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Notes Exit Register -Bank
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Note Exit Register - Bank Guarantee
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Note Exit Register -Bank Collection
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Note Entry Register
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Note Return Exit Register
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Returned Notes Entry Register
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Returned Notes Entry Register -Bank
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Note Collection
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Note Transfer
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Cash Account Exchange Valuation
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Foreign Currency Purchase/Sale – Transfer
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Cash Payments
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Cash Collection
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Income Receipt
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Expense Receipt
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Securities Purchases
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Securities Sales
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Depreciation and Valuation
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Fixed-Asset Purchase
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Fixed-Asset Sale
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Fixed Asset Inventory Return Receipt
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Inventory to Fixed-Asset Conversion Receipt
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Imported Goods Entry
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Purchase Invoice
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Retail Sales Invoice
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Sales Invoice
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Inventory Receipt
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Export Registered Sales
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Inward Processing
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Export Invoice
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Production Result
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Register
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Suggestion
Before you start using FA modules, be sure to review your accounting charts. Seek help from your financial advisor. Inaccuracies in the chart of accounts cause you to submit incorrect and incomplete statements. Get services from experts to avoid being in a difficult situation against the law. Work on the most appropriate setup to group your expenses and incomes. Strengthen and plan your setup before making any parameters or definitions.

The main definitions you need to make in order to use ERP are:

  1. Set the parameters under the ERP tab in the company flow parameters.
  2. Specify the local currency and the secondary currency. Set other currencies.
  3. Set the Tax Rates. VAT, SCT, Withholding and Other Taxes
  4. Prepare your accounting chart of accounts
  5. Plan cost and revenue centers
  6. Group the budget categories.
  7. Create budget items and associate them with accounting codes.
  8. Open your safes and associate them with the ledger accounts.
  9. Open your bank accounts and associate them with accounting accounts.
  10. Open current accounts. (Customer, suppliers and employees are also current accounts.)
  11. Specify payment methods for current transactions.
  12. Create transaction types and grant permissions. (Organization units, roles, and employees need to be regulated before delegating)
  13. Edit Receipt and Document Numbers.

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