Evo-ERP was developed from the beginning as an integrated manufacturing and accounting system, not a manufacturing system with some accounting capability patched in as an afterthought. Every time there is an action within the manufacturing side of the system that impacts the cost or account status of inventory (such as a movement from raw materials to work in process), a transaction set (debit & credit) is posted to the GL and a matching inventory transaction is generated. Each transaction(both Inventory and GL) is marked with the User Login ID of the employee processing the transaction as well as the date and time it was generated.
Initial system setup requires the definition of item classes and warehouse location(s) which control all the GL posting of inventory related transactions. Once the Item Classes and Locations are properly defined, all inventory related transactions post to the designated accounts automatically.
Inventory Balance, Inventory Transaction, WIP Balance, PO Receipt, Shipment COGS and Shipment Revenue reports can all be run as subsidiary ledger reports to support the financial statements and can be run as of a prior date making the monthly and yearly closing process easier. All transaction posting is date based so activity can proceed in the current month even if the prior month has not yet been closed.
Financial Statements and Trial Balance can be run for the current year and up to six years past. Transaction detail is retained indefinitely but can be consolidated. The Business Status program provides an Executive Dashboard of current balances in AR, AP, Cash, Inventory, WIP, Open Sales Orders and open Purchase Orders as well as month to date activity.
Cash Management supports up to 99 different accounts for reconciliation which includes actual checking accounts, petty cash and company credit card accounts. Each account maintains its own reconciliation data to match to the bank or credit card statement.