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Benefits

Financials Features

Central Repository of Financial Data
Central Repository of Financial Data

The system consolidates journal entries auto-generated from various modules of BASSnet and sub modules of BASSnet Financials. It provides extensive standard general ledger functions and reports. Use the account code level report to serve statutory reporting needs, with the ability to provide balance breakdown to variable level for management reporting needs. Also, the Audit Trail and Audit File Generator features fulfil audit requirements.

Manage Payable Cycle
Manage Payable Cycle

The Accounts Payable sub-module caters for the expenditure cycle, including performing purchase invoicing and payment management from invoicing recording to payment settlement through payment, offset or contra processing. Payment export and import tools ease payment data extraction in/out of the system. Gain extensive standard accounts payable functions and reports, handle automatic calculation and recognition of realised forex gain or loss upon invoice settlement, and perform balance revaluation for foreign denominated supplier balances with auto calculation on unrealised forex gain or loss.

Manage Receivable Cycle
Manage Receivable Cycle

The Accounts Receivable sub-module enables you to perform revenue invoicing and collection management, from invoicing recording to collection settlement through collection and offset processing. The module provides extensive standard accounts receivable functions and reports, handles automatic calculation and recognition of realised forex gain or loss upon invoice settlement, and allows you to perform balance revaluation for foreign denominated customer balances with auto calculation on unrealised forex gain or loss. Also, use the recurring revenue template to handle routine billing creation.

Manage Asset Life Cycle
Manage Asset Life Cycle

With the Fixed Asset sub-module, you can automatically track a list of business owned assets with details using the fixed asset register. You can also automatically generate asset depreciation based on the defined depreciation method and useful life. The sub-module also caters for recording of asset movement entry and provides standard fixed asset functions and reports.

Financial Reporting & Analytics
Financial Reporting & Analytics

BASSnet Financials’ Reporting sub-module is a report platform for users to set up reports with Microsoft Excel report templates extracting multiple companies, multiple fiscal years and data types of actual, budget, forecast or plan data. Users can utilise cell-based definition to slice and dice the extraction of account balance into the user’s pre-defined report template in excel format with various accumulation methods and multi-dimensional data combinations’ possibilities.

Payment Data Transfer Processing
Payment Data Transfer Processing

Enjoy quicker payment processing with two-way payment data export and payment import with banks. Use the Payment Export Configurator to set up a pre-defined file format based on banks’ specification requirements. Use the Payment Export Tool to create payment data output files with required payment details. Import actual payment data using the Payment Import Adapter for the system to complete the last payment entry step of payment confirmation which automatically matches and updates confirmation details, before auto-creating the payment’s journal voucher.

Various Integration Adapters
Various Integration Adapters

Ready-made integration adapters are available to import or export data. Use the Register Adapter to import register data and exchange rates into BASSnet’s database. The JV Import Adapter lets you import journal voucher information for batch journal voucher entry creation. Using the Payment Export Tool, generate outbound payment file to a pre-defined format per bank requirements, for upload into the bank portal. Use the Payment Import Adapter to import bank payment data to update payment entry details and complete payment confirmation.

Multi-Currency Support
Multi-Currency Support

BASSnet Financials enables you to retrieve automatically pre-defined exchange rates for transaction conversion and for balance translation from Transaction to Base and Reporting currency area. The system also uses multi-currency accounting to seamlessly handle transaction conversion with auto-calculation on forex gain or loss.

User-Controlled Features
User-Controlled Features

Benefit from default posting setup to define the default accounts for sub-module entry to auto complete the journal entry generation. Gain flexibility with definable odometer numbering, definable variable setup, and user personalisation on document numbering conventions, query filters and report layouts, with customizable templates for financials printouts. You also control the chart of account for main, corporate and country, with Account Hierarchy to define account grouping and structure by hierarchy.

Entry Handling Features
Entry Handling Features

Use one-click actionable icons throughout the system. Instantly copy entries at Header and Line Item level to easily create new entries. You can also instantly insert a new line item by cloning an existing line item / by uploading line items via upload template. Also, download details of selected line item(s) into upload template, and batch field updates to update fields.

Multi-Company Processing
Multi-Company Processing

The system enables batch processing for multiple companies’ recurring entries. Easily batch update open/closed period involving multiple companies and modules. Gain a centralised batch closing processing involving multiple companies and modules.

Direct Navigation & Quick Access
Direct Navigation & Quick Access

Use built-in widgets for an instant overview, including for key Operational KPIs. Enjoy personalised shortcuts to favourite screens, filtered queries, and reports which can be launched instantly. With direct entry drilldown in the entry processing screen, gain direct access to related entries. The system also gives quick access to supporting documents viewing in a single Document window for multiple records.

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