Financial accounting on ERP basis/ transparent and secure

We have optimized the accounting system in Microsoft Dynamics Business Central for use in logistics companies. This makes it possible to automatically propose provisions in connection with monthly statements or even to automatically enter these directly. An apportionment of provisions to individual months within a financial year is possible at any time and the monthly results calculated will be adjusted by the amounts set aside.

The performance month for monthly statements is decisive for determining the period that has to be depicted when entering an invoice VAT item. For transporting goods this is generally tied to the date of delivery to the final destination. The result of this is that regardless of the invoice date all incoming and outgoing records must be entered in the period of the performance month. This is the pre-condition for proper advance VAT returns in which input tax and VAT are offset accordingly.

We have optimized the accounting system in Microsoft Dynamics Business Central for use in logistics companies. In contrast to other systems that build on user discipline here, in our solution, taking into account our TMS Xfreight, the correct period is identified based on the consignment data. Consignment-specific input tax and VAT land in the same period and consequently there will be no stressful discussions about this during tax audits.

For groupage consignments, the profit of the consignment (PNL) has to be identified across all consignments. This is done in the operational system on the basis of the file administered there (consignment). Most operational systems – like our “Xfreight” system – control this issue. However, for accounting, it is also important to compile statistics from the figures entered at consignment level. So it has to be possible to compare all purchasing and sales invoices entered in the accounting about a groupage consignment and to identify the resulting consignment profit. It can also be interesting, for example, to identify the “benefits” of a certain direction or department based on purchasing and sales records entered in the accounting.

We have optimized the statistics available in the accounting system in Microsoft Dynamics Business Central for use in logistics companies. To identify consignment and/or department-specific profits quickly and easily, we use the “dimensions” integrated into Microsoft Dynamics Business Central, up to 10 of which can be used.

When importing goods customers often ask forwarders to carry out customs clearance. As an extended arm of the state, forwarders consequently become the debtors, directly or indirectly, for any customs duties and sales import tax (EUST) that may be due. The value of the goods is decisive for calculating the customs value and the EUST. This means the forwarder has to make an advance payment for their customer – and this sometimes involves a considerable amount.

Our logistics solution can generally determine whether capital provision costs should be automatically invoiced for certain services. When settling the invoice, the system autonomously notices whether a customer pays within the deadline or not, and calculates the difference (for justified deduction) or leaves a residual outstanding item (for non-justified deduction).

The forwarding log – always the source for valuing the profitability of a forwarding “file”. Put broadly, revenues and expenses are compared in the forwarding log and the gross forwarding profit is calculated. Therefore, the profit of consignment results from the difference between the sales and purchases entered. But what about expected revenues and expenses that have not yet been entered? What about provisions formed with the monthly statements?

We have developed a forwarding log for our logistics solution “Xfreight” that shows revenues, expenses and provisions entered for a consignment at a glance and accordingly, the “undistorted” gross forwarding profit.