Financial Accounting in CRM/ERP

Learn how an ERP system helps centrally manage finances, control income and expenses, prevent errors, and increase business profitability.

Financial control is one of the key responsibilities of a manager. When data on income, expenses, and payments is scattered across different spreadsheets, messengers, and notebooks, the business loses time, money, and the ability to make quick, informed decisions. In this article, we’ll explore how an ERP system helps centralize financial accounting and manage profitability.

Many companies keep separate records: accounting uses Excel, managers track payments

1. missed payments or duplicate entries;
2. errors in reporting and planning;
3. loss of control over project profitability.
   
   

Implementing an ERP system allows you to:

1. track all income and expenses in one place;
2. automatically record client payments and receipts;
3. integrate financial data with sales and projects;
4. set budget limits and monitor expenses.
   
   

Centralizing finances ensures full transparency and ease of business management. 

ERP provides managers with analytical tools to:

1. Income and expense reports — quickly see where the profit and losses are;
2. Project profitability control — understand which orders generate profit and which result in a loss;
3. Real-time financial dashboards — make decisions based on up-to-date data;
4. Customer analytics — identify which clients generate the most revenue and where there is risk of losses.
   
   

With ERP, business finances become transparent, controlled, and accessible at any time. This helps prevent losses, increase profitability, and make informed management decisions based on up-to-date data.