Finance Fundamentals – How SAP Business One Supports You

One of the key headaches SAP Business One eliminates for small and medium sized enterprises (SMEs) is the financial aspect of running their business. While SMEs often believe that in order for them to grow and expand their business capacity they should simply focus on increasing their sales activities; this can be an expensive error later on when their company experiences growth but their financial processes are unrefined and disorganised. It can be detrimental in the worst case scenario.

Establishing an organisation’s best practice financial process can be the success factor for any company planning on expanding and widening their client network.

A fundamental component of an SAP Business One customised platform is the financial module; closely linked to the banking functionality. Below we have summarised just a few of the many capabilities an SAP Business One solution provides. Watch the demo for more information.



  • Customised dashboard displaying the key information for your company (e.g. the default Crystal Design tool can be adapted for your specific requirements)

  • Messages and alerts – choose and display the alerts most relevant to your business (e.g. high revenue customers, total overdue accounts or upcoming audit requirements)


Chart of Accounts

  • These can be segmented or standard according to what suits your organisation best

  • Includes: Assets, Liabilities, Equity accounts, Revenue, Cost of Sales, Expenses, Financing etc

  • Privacy levels – limits can be applied per department, per employee or per financial level

  • Instant balance of accounts and recent transactions available (full reconciliation)

  • Audit ability – with notes section for adjustments and actions required

  • Print reports – multi-format printing

  • Generate account codes for specific contracts or vendors – they can then be accessed throughout SAP for a variety of tasks (e.g. inventory level check, sales opportunities etc)

  • Business Partner (BP) journal entries and updates (debit and credit memos)

  • General ledger templates set up with assigned distribution rules


Cost Accounting

  • Track multiple cost centres in a range of currencies

  • Track multiple projects at once and re-assign budgets accordingly

  • Cost centre reporting can also be run alongside your general ledger accounting for full transparency


Financial Reporting

  • Extract all of the data required for up to date decision making (budget re-allocation, inventory levels, expenses etc)

  • Allows for open budgeting and auditing across the entire organisation

  • Hundreds of report templates available (cash flow, tax, production order, inventory transfer etc)

These are just a small sample of the many features and benefits of SAP Business One’s financial module. Watch this demo for a full overview.

To support your company’s financial processes, it is inevitable that your banking processes for both incoming and outgoing payments are handled efficiently and promptly. SAP Business One allows you to reconcile multiple bank account transactions to ensure your financial data is up to date.

Below are some of the key features of SAP Business One’s banking module:

Incoming Payments

  • Manage incoming payments from customers, suppliers, ledger accounts (e.g. if selling fixed assets)

  • Display all invoices which are overdue per client (and overall)

  • Update the paid invoices and payment means (including the customer’s unique bank details)

  • Reconcile payments with customer accounts with just a couple of clicks


  • Ability to link SAP Business One with multiple bank accounts

  • Updates sent to bank accounts when cheque/cash payments received

  • Multiple currency and in-system currency converter

Multiple Payments

  • Payment wizard enables multiple outgoing payments with appropriate data

  • Regular payment runs can be customised and automated, reducing administration hours


  • Generate multi-format payment reports (including business partner summary and banking reports)

  • Print cheques straight from the SAP Business One platform with instant bank reconciliation


  • Import external bank statements for accounting reconciliation

  • Manual reconciliation option also available

  • Whilst looking after the finances might not be everyone’s favourite activity, it is a fundamental element of any small and medium sized enterprise wishing to grow and perform to their best ability. Don’t allow the financial process let your organisation down.

Watch the SAP Business One banking module in action here.

To see SAP Business One in action, watch this video.


How can I find out more about SAP Business One?


Contact Blue Ocean Systems’ team of ERP specialists who can guide you in finding the best SAP Business One solution for your organisation.

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