Servana ERP features a fully integrated double-entry accounting system, seamlessly automating financial transactions based on the type of business activity. This eliminates redundant accounting processes and removes the need for month-end reconciliations between operational and accounting data.

 

Key Accounting Features:

 

✅ Automated Accounting Entries
All financial transactions are automatically recorded at the point of origin, ensuring real-time accuracy and reducing manual data entry.

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✅ Cost Center & Profit Center Allocation

• Fully supports Cost Center and Profit Center assignments when configuring General Ledger accounts.

• Users can be prompted to allocate transactions to the relevant cost or profit center at the time of entry, enhancing financial tracking.

 

✅ Project-Based Accounting

• Supports full project-based financial tracking, allowing revenues and expenses to be assigned to specific projects.

• Provides project-level profitability reporting for better financial oversight.

 

✅ Service Contract Profitability Tracking

• All service contract activities are automatically posted to the accounting system.

• Spares and consumables provisioning is managed using business rules to prevent over-supply and incorrect allocations, ensuring profitability at a granular level.

 

✅ Multi-Company & Organizational Structure

• Supports multi-company setups, with each entity maintaining its own identity for invoicing, purchasing, payments, and financial reporting.

• Users are assigned to Branches, which belong to Divisions, which roll up into a Company, ensuring structured financial management.

 

✅ External Accounting System Integration

• All accounting transactions can be mirrored to an external accounting system for auditing or specialized financial management.

• While Servana ERP offers a comprehensive built-in accounting module, businesses can synchronize financial data with external accounting software.

• Bi-directional transaction mirroring enables synchronization between different accounting systems.

• Currently, QuickBooks Online is the supported external accounting system.

 

✅ Distributed Processing & Transaction Workflows

• Transactions progress through multiple states before final posting to the General Ledger.

• This structured approach allows for cross-department workflow approvals.

• Example: A Goods Received Note (GRN) can be initiated by a receiving clerk in the warehouse and later finalized by the accounts department for payment processing.

 

With Servana ERP, financial management is streamlined, ensuring accurate, real-time insights into business performance while maintaining flexibility for external integrations.