IFS General Ledger has been developed for the recording, analysis and reporting of all financial transactions, progressively from the lowest to the highest, in groups of many companies and subsidiaries. It works integrated with IFS Consolidated Accounts Module. A value in a third currency is kept in each record. In addition, a fourth field was created to keep the corrected TL value to be used in inflation accounting calculations. Period-end transactions are grouped under a single heading and auxiliary functions such as valuation and rediscount calculation have been added to the system.
IFS Accounts Receivable simplifies customer invoicing and payment processes. It automatically handles the encoding of routine operations. It also provides powerful customer credit monitoring capabilities. Integrates with sales orders and accounting rules functionality, helping you minimize errors and simplify routines.
IFS Accounts Payable simplifies supplier invoice and standard payment methods and integrates with accounting rules and purchasing functionality for matching. Self-billing support reduces billing processes. Various currency and payment options add to the flexibility of the component, while tracking and analytics features provide full control.
IFS Fixed Assets is used in companies’ fixed assets tracking and depreciation calculations. In this module, the additions and changes required by the Turkish Financial Legislation have been made. Depreciation expense calculations for the monthly balance sheet value are updated in line with the rates announced by the government. It is integrated with other modules. It also meets all the requirements of companies engaged in asset management.
IFS gives your company group the ability to quickly collect and consolidate financial data, giving you full control of your company performance. You can combine data from any company in a single location and map different spreadsheets, budgets and currencies from subsidiary to parent company. When necessary, snapshots of ancillary data received during the period and up-to-date consolidated financial information can be viewed by the management
IFS Financial Planning supports the process of creating budgets, forecasts and other financial plans, both for individual companies and on a consolidated basis. IFS Financial Enterprise Planning offers an integrated and centrally controlled planning tool that supports demand-driven planning based on customer-defined planning models. Companies can have purposeful forms of planning to meet different needs, from personnel planning to revenue and cost planning to balance sheet and cash flow. Different scenarios based on different assumptions can be managed and compared.
IFS Cash Flow offers flexible liquidity analysis based on various scenarios you choose. You can use sales orders, purchase orders, and accounts receivable and payable to create projections of your cash position. You can use this information when analyzing your company for better cash management and strategic decision making. Additionally, amounts can be handled in your base currency or related transaction currencies.
IFS Project Finance provides a perspective view of the finances at any time for years to come, whether the project is in progress or after closure. You can also examine the data processing source for a more detailed analysis. Integrated project accounting rules support different capitalization methods and revenue recognition requirements.
IFS e-invoice improves and automates the supplier invoicing workflow, reducing the number of invoices that require manual posting. Capabilities include invoice issuance, authorization of each posting line, and final posting. Scanning requires a 3rd party OCR product. Advanced rules created to match authorization and purchase orders significantly speed up invoice processing. Events, messages and history logs further improve the process and make tracking easier.
IFS Budget Management is a powerful tool for planning, budgeting and managing workflow in IFS Applications. It can be used to set your corporate strategy with company-wide drivers and assumptions about the budgeting process, to set goals for scorecards and budget templates. Continuous planning and forwarding estimation method support allows the user to monitor and update the process at every stage.
