• Consistent rules for payment transactions in the Euro-Zone
  Instead of national formats for payment transactions, one single format is used fort he first time in history. Since January 2008 most banks in Europe work with this technical standard. From November 2009 onward also direct debits can be done.
• Advantages of SEPA (Single European Payment Area)
  Bank charges can be reduced heavily, since the same bank charges have to be applied nationally as well as in the international money transfer. Furthermore the time of transfer is reduced massively. Cross border direct debiting can be done for the first time.

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Helmut Ritter

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Electronic bank statement with Phoron „Fuzzy Logic“

• Automatic processing of bank data
  With this solutions you can automatically book every record that is made available by your bank via electronic data carrier.
• Additional information in proprietary bank formats
  Phoron´s application can use additional, proprietary formats that are made available by your banks. These formats contain advanced information.
• Self-learning fuzzy logic
  This logic makes sure that the learning curve is steep and a lot of everyday manual work is reduced.

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Helmut Ritter

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• Consolidate individual financial statements to render a group result
  Your company group is globally active and you have subsidiaries in a number of countries or on various continents. You periodically require individual financial statements to be consolidated into a group result, for instance in order to claim tax benefits for the company group.
• Various currencies
  Since some of your subsidiaries required to prepare balance sheets are outside of the euro area, in order to consolidate accounts, you must convert the various national currencies into the currency of the consolidated financial statement. In this case you must fulfill certain conditions in order for currency conversion to comply with legal requirements.
• Consolidation steps
  The various consolidation steps then follow. These range from elimination of intragroup receivables and payables, consolidation of revenue and expenses and elimination of intragroup profit and loss, to the various forms of investment consolidation. In addition, auditors or tax consultants will usually make further adaptations.
• Solution
  Flex.Financials – Consolidation supports you in consolidation activities, enabling you to perform these steps quickly, including thorough documentation, as part of generating financial accounts for a certain period. The well-structured selection of reports provides you with a precise overview of the consolidation entries made by the individual group companies, and additionally enables you to create a transparent representation of the individual consolidation steps.

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Helmut Ritter

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• Travel activities
  You as a globally active company delegate company representatives (e.g. service technicians, sales representatives, administrative employees etc.) to undertake business trips. A number of staff members or departments are involved in the entire process chain, from request and granting of approval to settlement and proper allocation of expenses. It must be additionally ensured that any extra benefits provided by the company are represented properly in payroll statements.
• Paperless processing thanks to one workflow
  The SAP workflow functions provided in .Financials – Travel Management allow you to clearly structure the entire request and approval process, whereas a travel document is always in the possession of the individual who has the most information for the particular processing step. The employee submits a travel request, giving the destination of the trip. The travel department estimates the cost for travel mediums and the department head approves the trip. The employee receives confirmation of approval as does the travel department, for the purpose of entering the travel medium expenses.
• Structured cost apportionment
  The costs incurred as part of the trip are collected and assigned to the cost object incurring the costs. Within this process, private expenses are separated from business expenses, with any advanced travel payments deducted. The employee receives a summary sheet showing the travel dates and the sums eligible for reimbursement. Flex.Financials – Travel Management enables you to organize travel management in a clear, well-structured way and to reduce to a minimum document paths and the working time required.

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Contact person:
Helmut Ritter

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