Financial accounting on ERP basis/ transparent and secure

The financial accounting of logistics companies fights special challenges every day. For this reason, an innovative software solution for accounting will decisively increase the efficiency of the company. Our solution automates central tasks that have to be completed manually in conventional solutions. Processes such as the correct reconciliation of the performance and entry month no longer require manual reviews. So you will also considerably reduce the number of incorrect entries, allowing your employees to gain time to concentrate on more important things.

Your benefits

Globalization, digitization and the highly-topical digital transformation that is on everyone’s lips build on standardizing processes and communications procedures. Our accounting solutions build on standardized processes and all program sections are based on the reputable accounting system from Microsoft Dynamics 365 Business Central. Thanks to its modular structure our systems can be optimally adjusted to your corporate processes.
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EFFICIENCY

  • Sales and purchasing invoices in real-time
  • Automatic payment transactions (SEPA and ISO-Payment) and reading-in account statements
  • Trade accounts/cross-client
  • Cross-client credit limit check taking payment settlements into account in real-time
  • Low process costs thanks to quick access and effective data management
  • Time savings due to central use of master data
  • Automation of work processes conserves resources
  • Accelerated and simplified communication between everyone involved
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RELIABILITY

  • GoB-compliant (German principles of proper bookkeeping)
  • Operating result = fiscal result/no discrepancies thanks to full integration
  • Automatically determining the entry month on the basis of order, departure or arrival date
  • Correct advance VAT returns thanks to automatic, correct period accrual
  • Customs deferment accounts always visible thanks to the full integration of our ATLAS interface Xcust
  • Address check against sanctions lists (compliance check)
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SECURITY AND QUALITY

  • Continuously renewed certificate through compliance with GoB
  • New legislation and legal circumstances are taken into account thanks to regular software updates
  • Continuous expansion and adjustment of architecture and interface according to current technical possibilities
  • Greatest-possible transparency and security for your processes thanks to logging of all important entries
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TRANSPARENCY - IN REAL TIME AT A GLANCE

  • Presentation of payment status at consignment level
  • Transparent administration of outstanding items, payment status and payment practices
  • Debtor and creditor offsetting (e.g. in agent statements)
  • Correct period budgeting on P&L accounts
  • Forwarding log/consignment-related receipts, expenses and provisions at a glance
  • Reliable data analysis and statistics in real-time

Your benefits

Globalization, digitization and the highly-topical digital transformation that is on everyone’s lips build on standardizing processes and communications procedures. Our accounting solutions build on standardized processes and all program sections are based on the reputable accounting system from Microsoft Dynamics 365 Business Central. Thanks to its modular structure our systems can be optimally adjusted to your corporate processes.
null

EFFICIENCY

  • Sales and purchasing invoices in real-time
  • Automatic payment transactions (SEPA and ISO-Payment) and reading-in account statements
  • Trade accounts/cross-client
  • Cross-client credit limit check taking payment settlements into account in real-time
  • Low process costs thanks to quick access and effective data management
  • Time savings due to central use of master data
  • Automation of work processes conserves resources
  • Accelerated and simplified communication between everyone involved
null

RELIABILITY

  • GoB-compliant (German principles of proper bookkeeping)
  • Operating result = fiscal result/no discrepancies thanks to full integration
  • Automatically determining the entry month on the basis of order, departure or arrival date
  • Correct advance VAT returns thanks to automatic, correct period accrual
  • Customs deferment accounts always visible thanks to the full integration of our ATLAS interface Xcust
  • Address check against sanctions lists (compliance check)
null

SECURITY AND QUALITY

  • Continuously renewed certificate through compliance with GoB
  • New legislation and legal circumstances are taken into account thanks to regular software updates
  • Continuous expansion and adjustment of architecture and interface according to current technical possibilities
  • Greatest-possible transparency and security for your processes thanks to logging of all important entries
null

TRANSPARENCY - IN REAL TIME AT A GLANCE

  • Presentation of payment status at consignment level
  • Transparent administration of outstanding items, payment status and payment practices
  • Debtor and creditor offsetting (e.g. in agent statements)
  • Correct period budgeting on P&L accounts
  • Forwarding log/consignment-related receipts, expenses and provisions at a glance
  • Reliable data analysis and statistics in real-time

Central functions

Provisions

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.

Monthly statements

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.

Cost center/Cost units

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.

Capital provision for customs and import sales tax

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).

Statistics and forwarding log

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.

Fibu in use at Interfracht

Interfracht is a Bremen freight forwarding company with locations worldwide. The transport specialists have been successfully moving all kinds of goods around the globe since 1972.

 

Since 2013, Interfracht has entrusted us as dedicated and expert partners when selecting, integrating and supporting state-of-the-art software solutions. The integrated financial accounting system was tailored to the needs of the company. Not only the company itself benefits from this, but also its customers.

” With financial accounting in Xfreight, it is finally possible to create cross-client consolidated agent statements directly in the system. This simplifies the work immensely. “

Dennis Rubio Lutat
Accounting / Interfracht­

Fibu in use at Interfracht

Interfracht is a Bremen freight forwarding company with locations worldwide. The transport specialists have been successfully moving all kinds of goods around the globe since 1972.

 

Since 2013, Interfracht has entrusted us as dedicated and expert partners when selecting, integrating and supporting state-of-the-art software solutions. The integrated financial accounting system was tailored to the needs of the company. Not only the company itself benefits from this, but also its customers.

” With financial accounting in Xfreight, it is finally possible to create cross-client consolidated agent statements directly in the system. This simplifies the work immensely. “

Dennis Rubio Lutat
Accounting / Interfracht

Fibu in use at Interfracht

Interfracht is a Bremen freight forwarding company with locations worldwide. The transport specialists have been successfully moving all kinds of goods around the globe since 1972.

 

Since 2013, Interfracht has entrusted us as dedicated and expert partners when selecting, integrating and supporting state-of-the-art software solutions. The integrated financial accounting system was tailored to the needs of the company. Not only the company itself benefits from this, but also its customers.

” With financial accounting in Xfreight, it is finally possible to create cross-client consolidated agent statements directly in the system. This simplifies the work immensely. “

Dennis Rubio Lutat
Accounting / Interfracht

” With financial accounting in Xfreight, it is finally possible to create cross-client consolidated agent statements directly in the system. This simplifies the work immensely. “

Dennis Rubio Lutat
Accounting / Interfracht

Our clients

Do you have any questions or would you like some advice? We’ll be pleased to help.
As expert partners with an affinity for the sector, we’ll help you on your way to benefiting from the state-of-the-art technologies of today. We look forward to your enquiry.

Simply scan this code
with your smartphone and save our contact details.

Do you have any questions or would you like some advice? We’ll be pleased to help.

As expert partners with an affinity for the sector, we’ll help you on your way to benefiting from the state-of-the-art technologies of today. We look forward to your enquiry.

Simply scan this code
with your smartphone and save our contact details.