FINANCIAL MANAGEMENT
QMUZIK FINANCIALS IS DEVELOPED FROM THE INCEPTION OF
THE SYSTEM TO HAVE A NATIVE- AND SEAMLESS INTEGRATION
WITH THE REST OF THE BUSINESS PROCESSES IN AN
ORGANISATION. BECAUSE OF THIS METHODOLOGY, QMUZIK
FINANCIAL MANAGEMENT DELIVERS IMMEDIATE AND REALTIME ENTERPRISE-WIDE VISIBILITY OF THE FINANCIAL RESULTS OF
MINUTE-TO-MINUTE AND DAY-TO-DAY BUSINESS OPERATIONS.
QMUZIK DELIVERS A COMPLETE FINANCIAL MANAGEMENT
SOFTWARE SOLUTION VIA THE FOLLOWING MAJOR
COMPONENTS:

Flexible Approval Workflow - cashbook manager can
pre-authorise payment limit amounts by type of
transaction, bank and employee to streamline payment
processing while enforcing the desired levels of payment
approval periods.

Budget Management - scenario enabled budgeting
with
multi-baseline
management.
Comparisons
between baselines and budgets for actual and
budgeted data.
QMUZIK GENERAL LEDGER
SUMMARISED VIEW OF THE GL
The highly flexible account coding structure of the General
Ledger can be easily modified to meet changing business
needs without disrupting existing business processes.
Accommodating common, workflow-based budgeting and
commitment control processes that are shared across both
project and cost centre expense management, Qmuzik
General Ledger enables financial managers to implement
budgeting and control processes that fit the needs of
individual departments and projects while maximizing
efficiency of the budget control process and associate
financial audit trails and drill-downs to journal sources.
DETAILED DRILLDOWN TO SHOW ALL
Prime features of Qmuzik General Ledger include:

Real-time Journal Postings: All other modules of Qmuzik
generate balanced financial journal entries directly to
the General Ledger in real time thus providing
immediate visibility and feedback on the financial
impact of day-to-day and minute-to-minute operations.
These journals are auto-posted via predefined
accounting set-up and the systems inherent business
process intelligence.

Financial Periods: Financial periods are defined via the
Company calendar and can be opened and closed for
specific journal entries (Hand journals, cashbook
transaction, settlements etc.). This enables the financial
managers to continue the processing of certain
transactions in previous financial periods.

Account application: Account Code application rules
empower the accountants to predefine account code
applications. This powerful tool ensures that the
accounts
selected for specific business processes
(production and projects WIP, account payables and –
receivables suspense and control, stores accounts,
scrap, rework, warranties, sales, provisions, advance
payments, revaluation, stock adjustments and all others
can only be selected if pre-authorized for that type of
application.
This logically minimizes and almost eliminates journal
posting errors and the tedious efforts required to rectify it
afterwards.

Qmuzik General Ledger provides a standard set of financial
reports, which are easily extracted to Excel to allow users to
further analyse and customise the reports. The report list
includes Balance Sheet, Income Statement, Detailed
General Ledger Report, Cost centre management report,
Trial Balance, Chart of Accounts, Cash flow forecasting,
Cash Book Reconciliation reports and Tax Reconciliation
Report.


Cash Management - complete Cashbook functionality
with reconciliation, reversal, cheque and receipt printing
functionality and detail drill-down visibility of all
cashbook transactions and associated journals.
Extensive cash management functionality exists which is
closely integrated with employee expense requisitions
and manages all cash advances and reimbursements
procedures. Provides multiple payment methods
including Electronic Funds Transfer (EFT) with flexible
approval matrix and detailed workflow history.
Qmuzik Technologies (Pty) Ltd l Trentbridge Office Park l
c/o Von Willich Ave & Leonie St l Centurion l
Tel: 012 640 3500 l Fax: 012 640 3511 l info@qmuzik.com l www.qmuzik.com
Financial Online Reporting - powerful online analytical
and internal reporting tools are available that support
multi-dimensional grouping of accounts. Multiple report
sets can be created to create different structure formats
of a report. Online budget & actual analysis with full drill
down functionality to detailed journal entries and source
transactions.
Product and inventory costing – Not to be overlooked
are the sound and comprehensive tools provided to
perform cost-roll-ups for products at all levels, which
includes scenario and contract based pricing for both
materials, labour and overheads.
Primary stock valuation options are standard costing
and a number of options and calculation methods for
average/actual costing.
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Included in the toolset are functions to perform year-end
revaluations, year-end rolls and a comprehensive audit
trail of all source data.
DEBTORS ACCOUNTS RECEIVABLE

Debtors Accounts receivable - With complete, real-time
integration to Qmuzik Project Management, Sales
Management and General Ledger, the Accounts
Receivable module provides a single feature-rich system
to handle all billing, collection, payment processing,
cash application, and revenue recognition. From over
the counter sales to order shipments and project-based
progress billing, Accounts Receivable provides tools and
flexibility to automate and streamline collection and
payment processing.

Age analysis – analysis of unsettled invoices and
unapplied cash is performed online and real-time as per
contractual settlement terms and predefined aging
periods.

Accounts Receivable Online Reporting - Qmuzik
provides a standard set of reports, which are easily
extracted to Excel to allow users to further analyse and
customize the reports. The current report list includes;
Ageing report, Invoice Register and Unapplied Cash reports.

The system also provides very dynamic work benches
that provide a large set of search filters and output
columns to analyse debtors invoice and settlement
status and to perform credit limit checking.
Qmuzik Accounts Receivable includes features such as:
CREDITORS ACCOUNTS PAYABLE


Invoicing/Credit Notes - debtor invoices and credit notes
are automatically created as part of the upstream
business processes (e.g. sales shipping, customer returns
and corrections). Printing/confirmation of an invoice or
credit note will automatically post the associated
journals for the revenue and cost-of-sales. Every A/R
event and associated journals can always be tracked to
the source transaction and real-time visibility is ensured
throughout the process. Sales and cost-of-sales to date,
as well as resulting gross profit margin percentages are
visible on a real-time basis per contract, sales order,
sales order line or Invoice.
As with all other Qmuzik modules, Accounts Payable
incorporates flexibility, workflow and online, real time
visibility of status allowing users to implement A/P
processes that "fit" their business needs. The system
dynamically reacts on all inventory receipts and returns
related to purchase orders and have built-in test
equipment to ensure that invoicing and payments
remain in line with the source purchase order lines in
terms of currencies, pricing, quantities, tax-, freight-and
settlement terms.
Where shipping occurs for order lines or parts that have
additional requirements such as levies or surcharges, the
additional cost links are auto-created on the invoices.
Since services cannot be confirmed by receiving stores
as holds true for hardware receipts, invoices for services
can be set-up to enforce beneficiary approval prior to
allowing supplier payments.
Where order lines have predefined rules for commission
or warranty provisions, the related provision journals are
also auto-posted to the GL.


Advance payments - can be invoiced and credited as
required per sales order line and automatic prompts are
generated where credits for previous advances billed
are due to the customer.
Customer specific data - extensive detail can be
defined for customers and this includes credit limits,
multiple shipping and billing addresses, contact persons,
sales persons (with commission detail), trade discount
matrixes and default (or enforced) values for tax, freightand settlement terms, payment methods, sales and A/R
accounts and transport methods.
Details for EDI (electronic data interface) are also
provided as well as the linking of applicable sales
catalogues with date-based pricing, discount and
settlement detail.

Customizable business documents – The format and text
of business documents such as Invoices, Credit notes,
Statements, and Delivery Notes can also be tailored per
customer. With the added ability to cross-reference your
part numbers and descriptions to those of your
customers, documents can be printed applying the
customer’s item numbers, descriptions and units of
measure on such documents.
Qmuzik Technologies (Pty) Ltd l Trentbridge Office Park l
c/o Von Willich Ave & Leonie St l Centurion l
Tel: 012 640 3500 l Fax: 012 640 3511 l info@qmuzik.com l www.qmuzik.com
Creditors Accounts payable - Accounts Payable is fully
integrated with Qmuzik Procurement and the General
Ledger to complete the workflow cycle of the
procurement process.
Provision is made for user-defined over-payments and
over-receipts and multiple payment options are provided
with predefined preferences per supplier.
Accounts Payable includes many special features such as:

3-Way Matching - direct and seamless interface with
procurement and inventory management processes. All
Purchasing events natively interface with Supplier
Invoices/Credit notes and ensure real time matching of
Supplier invoices with actual up-stream business process
events. Multi-level matching process governed by the
origin of the business transaction (Requisition, Purchase
order or Service agreement) includes 1, 2 and 3 way
matching based on order number/agreement, quantity
and unit price.

Advance Payments - advance payments can be
granted and credited as required per purchase order
line and automatic prompts are generated where
credits for previous advances made are applicable.

Invoice approval - business rules and workflow regulate
payments to suppliers and variable levels of overriderights are granted to users that will enforce on-time
payment of Invoices or will allow selective or early
payments. Payment of invoices can also be subjected
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to pre-approval, specifically for services rendered where
the beneficiary must confirm that services were actually
rendered.


Overspend tolerances - rules for over-receipts and price
variance tolerances are user-defined and overspend
warning, stop percentages and rules regulate
adherence to the original supplier contract.
Supplier specific data - extensive detail can be defined
for Suppliers and this includes multiple remit-to
addresses, contact persons and default values for tax,
freight- and settlement terms, trade discounts, A/P
accounts, transport methods, payment methods and
banking details. Information to capture data for EDI
(electronic data interface) is also provided.
Asset Management provides automated features and
functions to manage all types of assets, including:

Asset Acquisition - capital assets may be procured either
through purchase orders or through capitalization of
projects via hand journals.
Purchase orders are fully backed by authorized
requisitions and adhere to divisional/cost centre capital
approval limits.

Asset Groupings and Structures - unlimited asset
groupings, parent-child asset relationships and multilevel serialized asset component structures provide
complete visibility of asset characteristics to facilitate
maintenance activities and financial analysis.

Auto Invoicing (self-billing) - Agreements for rentals,
leases, consulting and other services are fully backed by
authorised requisitions and service contracts that
include estimated cash flow projections and options to
perform self-billing when actual amounts are confirmed.

Asset Responsibility Roles - various responsibilities linked
to an asset (e.g. asset controller, beneficiary who pays
the depreciation costs, responsible person tracking the
physical location and quantity, asset counter, asset loan
requestor, etc.)

Customizable business documents - the format and text
of business documents such as Purchase orders,
Remittance advices, and Return advices can also be
tailored per supplier. With the added ability to crossreference your part numbers and descriptions to those
of your suppliers, documents can be printed applying
the supplier’s item numbers, descriptions and units of
measure on such documents.

Asset Loan - workflow enabled loan and control of
specific assets with formal request, approval and checkin/checkout responsibilities.

Asset Depreciation Methods - can define an unlimited
number of depreciation methods which may include
straight line, reducing balance and scheduled
depreciation (Flexible matrix with percentage for each
period over lifecycle of asset). Depreciation runs with
simulation functionality exist and produce real-time
journals.

Asset Adjustments - take-on-value amount changes are
allowed and adjustments for depreciation differences
are posted during the next depreciation run. Book value
adjustments (Impairments) can be made and GL entries
can be specified for the revaluation journals.

Asset Financial History - complete visibility of financial
history for each asset with applicable depreciation
entries, adjustments, disposal detail etc.

Asset Status - complete tracking of Asset through
lifecycle - Active, inactive, held for sale, disposed or
scrapped assets with automated journal entries. For
complex assets with maintenance significance, the
Qmuzik Equipment base hosts an impressive collection
of features to perform failure reporting, asset
maintenance and detailed tracking of asset status and
event history.

Asset Bulk Review - bulk function available for annual
review purposes to easily update useful life, residual
values, book value, replacement values, insurance
values, and depreciation methods. Automated journal
entries are processed for each update record. Detail
history records are visible with each review/adjustment

Asset Tax vs. Accounting Values - detail tax information
available similar to all accounting values for wear and
tear purposes.

Age analysis - is online and real-time plus the ageing
models can be specified per organisation.

Accounts Payable Online Reporting – Qmuzik provides a
standard set of accounts payable reports, which are
easily extracted to Excel to allow users to further analyse
and customise the reports. The report list includes
Creditors Ageing report, Creditors Provision (Accrual for
non-stock goods received), Creditors Suspense (Accrual
for stock goods received), Creditors Payable per period.
The system also provides very dynamic work benches
that provide a large set of search filters and output
columns to analyse creditors invoice and settlement
status and to obtain purchasing and related transaction
history.
QMUZIK ASSET MANAGEMENT
All businesses need to be able to record, track and manage
a variety of different types of assets. Indirect assets, such as
office furniture and personal computers, need to be tracked
and valued through the basic asset life cycle of receipt,
payment, tracking, depreciation, scrapping and/or disposal.
Direct assets, such as machinery and equipment have
additional requirements to support planning and issuance to
production and fulfilment operations. Qmuzik also provides
extensive features for assets, which have maintenance
significance and need to be scheduled for preventative
maintenance or corrected during unplanned maintenance
events. This functionality fully interfaces with all other supply
chain processes to procure, subcontract, maintain, rework,
repair and upgrade assets during its complete life cycle, with
full visibility of all events, the as-maintained-structure of the
asset, its location, ownership, readiness for use and warranty
details.
Qmuzik Technologies (Pty) Ltd l Trentbridge Office Park l
c/o Von Willich Ave & Leonie St l Centurion l
Tel: 012 640 3500 l Fax: 012 640 3511 l info@qmuzik.com l www.qmuzik.com
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