The financial impact of business transactions in an ERP are captured in the Financial modules. As an accepted norm, the General Ledger, together with Accounts Receivable and Accounts Payable sub-ledgers constitute the Financials core.
Most of the financial system entries are automated, generated in the background. These depend on how the system is configured for various types of transactions. The accuracy of these decide the accuracy of the entries created by the system. However, you can also record financial transactions manually.
The Sub-ledgers are essentially the detailed ledgers for party-wise transactions and financial history. These are linked to the General Ledger by means of a Control Account, such as Accounts Receivable or Accounts Payable. The Sub-ledgers allow you to balance your books faster and also allow functional specialisation in supervision and control.
The Financial modules in CREST ERP are described in detail in the following sections
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