Accounts Management Is Essential to ERP Manufacturing Software Systems

Efficiency and profitability are key factors to run businesses and companies successfully. They need to enhance their bottom line to keep business and production costs at a minimum level. More sophisticated, automated, secure business operations, and perfect managing strategy can provide much better results to a company. Best ERP Software allows organizations and companies to manage and monitor their entire business processes perfectly. 

An enterprise resource planning system is the software solution used to manage all the resources of a company or enterprise. Actually, an ERP system is a multi-functional software to support the entire business processes and activities within the organization. The software system helps to maintain and monitor all activities of various departments through a single source of information. 

ERP for Manufacturing Industry has become an essential solution for most companies involved in various types of product manufacturing. Most ERP systems are well-designed to implement solutions using different common modules for small to medium-sized businesses or companies. 

Common Modules in ERP Software Solutions

  • Planning management
  • Purchase management
  • Production management
  • Quality management
  • Store management
  • Sales management
  • Accounts management

Planning Management

This module helps to effectively plan and monitor the entire manufacturing process. It sets objectives and decides the path for each business activity. The planning management module efficiently tracks information related to the materials and all manufacturing processes. The Bill of Materials functionality contains a form and allows users to add information about the quantity of manufacturing goods. The BOM Part Name feature creates a list of important details such as part name, part number, and description. The Product Relation function enables users to connect part names with their respective code numbers.

Purchase Management

The purchase management module is the key component of the Manufacturing ERP Systems. It efficiently deals with the purchase of required materials and provides all required materials to the correct departments. The module contains a form to create purchase orders after the approval of quotations. Its purchase scheduling feature can be used to schedule purchases according to the requirements. The purchase invoice option can be used to create an invoice required to purchase materials. The purchase inquiry provides a form for users to add entire required details to make an inquiry with the vendor. 

Production Management

This module is used to design and detail the production process that must be followed to convert raw materials into finished goods. The process master feature helps to create a list of the processes required for the production. However, this process allows users to add characteristics for the specified activities and processes. The item machine relation feature contains a form used to assign machines to specific items. The module efficiently defines how many raw materials are used to produce finished goods. It also keeps track of names and quantity of used raw materials and provides detail about available materials. ERP Production Management allows manufacturers to maintain all information related to manpower and machine utilization. 

Quality Management

This module efficiently deals with quality control and assurance of a manufactured product. The QC characteristics contain a form and allow users to define the characteristics of the product. However, it is not limited to finished goods and applies to all materials including scrap material, raw parts, and others. This ERP component enables users to input expected value, minimum value, and maximum value. The module offers a form to set Test Parameter Relation for capital materials, raw materials, scrap materials, and trading materials. 

Store Management

This module includes a checkout management feature and allows users to integrate and connect all terminals such as receipt printers, barcode scanners, scales, and touchscreens. Users can customize cash register screens and documents as well as optimize images, icons, and overall screen layouts. They can keep track of stocks and suppliers. The management of items option can help to manage warranties of products.

Sales Management

The sales management module provides a significant amount of help to users handling customers. Users can better understand customer requirements, improve & retain customers, attain new customers, and cost reduction. It allows users to input all information about a sales lead and create a profile that can be used for future business growth. 

Accounts Management

This module is one of the key parts of ERP Manufacturing Software Systems and considered the most sensitive module in manufacturing. The feature can better handle billing and accounts management. It contains a list of all accounts in the general ledger of a company. The trial balance report displays the credit, debit, balances, and closing summary of a ledger. Moreover, the balance sheet shows statements of assets, liabilities, capital, income, and expenditure in the proceeding period.