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Financial Management in Infor CloudSuite™ Industrial (SyteLine ERP)

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General Ledger

Infor CloudSuite Industrial General Ledger tracks financial expenditures within the company and generates financial statements and reports for management, auditors, and investors. The General Ledger is tied to other parts of the system through the Chart of Accounts and the distribution journals. A Chart of Accounts is easily created to control how you want to report on your business.

Financial information collected during day-to-day operations is posted frequently to distribution journals. In addition to the distribution journals, there is a General journal that you can use to hold closeout and summary entries for year-end procedures.

You can also create user-defined journals — custom journals to store, retrieve, and track entries specific to your business. Unit Codes can be activated for each account in the Chart of Accounts, to collect key management data.

infor financial module screenshot

Accounts Payable

Infor CloudSuite Industrial Accounts Payable brings world-class functionality and control to your cash management system. With features that streamline and simplify the critical daily tasks that make sound financial management possible, CloudSuite Industrial Accounts Payable helps managers stay abreast of critical cash positions to improve efficiency and profitability.

CloudSuite Industrial Account Payable's rich connections to the entire suite of CloudSuite Industrial’s modules will give your payables process full, fast, and accurate financial and operational information to help you make better decisions and execute your business strategy more effectively.

Accounts Receivable

Other than inventory, no asset is typically larger than your Accounts Receivable (AR). Infor CloudSuite Industrial AR helps you become more efficient, thus having a positive impact on cash flow, reduction of bad debt, and improved customer relationships.

CloudSuite Industrial AR facilitates the process of applying receipts, allows you to view current account balances, and improves the communication between your billing, credit, and collection departments in real time. Payment information is tracked instantaneously, allowing you to gather statistical information about customer payment history which helps to improve customer support and cash flow.

With CloudSuite Industrial AR, you gain the accurate, real-time information you need to make immediate decisions about extending credit limits, collections, and managing a key component of your cash flow.

Fixed Assets

Full control over your entire asset picture — from acquisition to retirement and replacement planning — is crucial when it comes to managing assets. Infor CloudSuite Industrial Fixed Assets, a complete capital asset information and management system, gives your enterprise worry-free, boundary-free control.

CloudSuite Industrial Fixed Assets allows you to manage your assets through their entire lifecycle.

Multi-Currency

Infor CloudSuite Industrial Multi-Currency allows you to buy and sell in foreign currencies. Tracking of base (domestic) currencies as well as extensive exchange rate tables, reduce manual transactions. CloudSuite Industrial supports the following scenarios:

  • Companies who process all transactions for a month at a given exchange rate. At the end of each month (or the beginning of the next month), the company performs a revaluation of all foreign currency translations.
  • Companies who negotiate each foreign currency transaction at a fixed rate agreed with the customer/vendor. Payments are at that fixed rate. When using a fixed rate, specify that rate on the Customer Orders or Purchase Orders Form’s Amounts tab. (Running the Currency Revaluation utilities will not impact these entries.)

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Support we received from Frontstep's consultants during the implementation was of great importance for the successful completion of the project

Georgi Lazarov, IT Mnager at Watts Industries

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