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True financial management requires a new set of tools - simple accounting record applications just aren't up to the demands of today's business environment. You need to enter data into the system with a minimum of effort and resources, and then pull out exactly the information you need when you need it.

Foresight Software's Financial Management supports your mission-critical operations with an integrated set of applications for General Ledger, Accounts Payable, Accounts Receivable and Fixed Assets. All of these applications include features that help you streamline accounting operations, from closing the books more efficiently to speeding the collection process. Most importantly, Financial Management gives you easy access to tools for improving cash management, reporting and cost control.

Financial Management is fully integrated to MXP Enterprise Resource Planning System's back office modules for Manufacturing and Distribution and to Service Management System. Financial Management's functional areas include General Ledger, Accounts Payable, Accounts Receivable and Fixed Assets.

General Ledger combines flexible information management with strong accounting controls. You can handle a wide range of different entities within your corporation, while ensuring compliance with U.S. GAAP and international accounting standards

• Represent complex organizations using the relational Entity Concept
• Maintain consistent division reporting with special summary structures (pseudo-entities)
• Use the multidimensional accounting structure to report by project or job
• Simplify consolidations and roll-ups among entities

• Flexibly create financial statements across companies, product lines and other entities for any accounting period
• Define unlimited reporting models
• Ensure accuracy and quality with a built-in statement format checker

• Post to any open fiscal year
• Automatically calculate opening balances for next period and year
• Use 12 or 13 fiscal periods per year

• Easily trace transactions to original documents in subsidiary ledgers
• Handle recurring and reversing journal entries
• Retain transaction history details according to your own needs
• Flexibly schedule interfaces to subsidiary ledgers in summary or detail
• Record statistical information (e.g. labor hours) at the account level

• Consolidate multiple transaction currencies
• View actuals vs. budgets online

• Simulate fixed and variable budgets prior to approval
• View actuals vs. budgets online

Accounts Receivable is a robust, flexible application for managing receivables, credit, collections and commissions. Designed for a wide range of businesses, the application lets you spend less time processing data and more time analyzing information to improve customer and sales performance, speed collections and reduce write-offs.

• Track receivables in open-item or balance-forward format for each customer
• Manage receivables locally or centrally, regardless of original order or invoice location
• Maintain detailed transaction history of open and closed invoices for reconciliations
• Purge closed transactions on a user-defined schedule
• Fully integrate receivables with MXP Order Processing and MXP General Ledger
• Flexibly handle unapplied transactions
• Track receivables by job or project
• Manage receivables in multiple currencies
• Use multiple bill-to, ship-to and paid-by addresses
• Send invoices to any customer entity

• Customize terms with multiple dates per payment term
• Calculate discount and net payment amounts from invoice date or the first day of the following month
• Manage seasonal invoicing with date-driven payment terms
• Automatically calculate finance charges

• Easily modify standard aging categories and statements
• Set enterprise-wide credit limits
• View aging reports online for more effective communication with customers
• Ease collections with automatic "tickler" memos and dunning letters
• Analyze customer performance by bill-to or ship-to address and by regional or headquarters level

• Automatically update the sales commission journal
• Calculate sales commissions as a percentage of sales or profits
• Split commissions for a single transaction among multiple salespeople
• Pay commissions upon cash receipt

Accounts Payable is an easy-to-use solution for invoice and payments processing, with added features for improved payables management. Extensive tools for analyzing cash flow and vendor performance help A/P make a positive contribution to the bottom line.

• Report cash requirements
• Support multi-company/ multi-division operations with open-ended payment terms, banks and control accounts for each entity
• Predefine vendor-specific expense allocations across multiple accounts and entities
• Maintain detailed transaction history of open and closed invoices for reconciliations
• Purge closed invoices on a user-defined schedule
• Interface in real time with MXP Purchasing for three-way matching of invoices with purchase orders and receipts
• Calculate use tax
• Manage payables in multiple currencies
• Track 1099/T4A transactions and process annual reporting
• Fully integrate payables with MXP General Ledger

• Choose from extensive automatic and manual disbursement, check generation and bank reconciliation procedures
• Manage disbursements locally or centrally
• Print checks online in real time or in user-defined batch mode
• Create convenient expense disbursements (with or without check generation)

• Track vendor statistics at the buy-from or remit-to level
• Integrate vendor analysis information with MXP Purchasing

MXP Fixed Assets handles all of the activities required to acquire, depreciate and retire fixed assets for all types of businesses. It automates many of your traditional reporting, posting and depreciation tasks so that you can focus on improving asset control and use.

• Create and maintain multiple asset ledgers
• Define your own report groupings for asset tracking and valuation
• Value assets automatically or manually
• Fully integrate with MXP General Ledger for depreciation postings, acquisitions and disposals
• Post transactions to multiple accounting periods
• Report based on any asset type, valuation method or location
• Access reports specially designed for audits and management control
• View any asset information online
• Include memos with asset records

• Choose from a wide range of built-in depreciation methods or create your own
• Establish book and two tax depreciations for each asset
• Maintain asset ID ledgers for each depreciation class (e.g., book, federal tax and state tax)
• View depreciation calculations prior to posting

• Effectively manage assets inventory with interfaces to MXP Purchasing, Accounts Payable and Inventory Management applications
• Relocate movable assets online in real time
• Track repair activity against assets

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