iFinance

iFinance, developed by Business DNA, is a finance management software designed to streamline financial operations for small to large companies. According to the vendor, iFinance caters to a wide range of professions and industries, including accounting firms, financial institutions, manufacturing companies, retail businesses, and service-based organizations.

Key Features

Accounts Payable: According to the vendor, iFinance allows users to manage and track all accounts payable transactions, keep a record of outstanding invoices and payments, and streamline the payment process for timely vendor payments.

Accounts Receivable: The vendor claims that iFinance enables users to easily manage and track all accounts receivable transactions, generate and send invoices to customers, and efficiently track and follow up on outstanding customer payments.

Bank Reconciliation: iFinance offers the functionality to reconcile bank statements with the company's financial records, identify and resolve any discrepancies, and ensure accurate and up-to-date financial information, as stated by the vendor.

Billing & Invoicing: According to the vendor, iFinance allows users to create and send invoices to customers for products or services rendered, track and manage billing information, and generate reports on billing activities and outstanding invoices.

Cash Management: The vendor states that iFinance provides tools to effectively track and manage cash inflows and outflows, monitor and control daily fund transfers, and maintain a record of miscellaneous cash transactions.

Collections: iFinance aims to streamline the tracking and management of collections from customers, according to the vendor. Users can send reminders and follow up on overdue payments to improve cash flow through an efficient collections process.

Consolidation / Roll-Up: According to the vendor, iFinance offers the capability to consolidate financial data from multiple entities or branches, generate consolidated financial reports, and streamline the reporting process for better decision-making.

Expense Tracking: iFinance allows users to track and categorize all expenses incurred by the organization, monitor and control spending, and generate expense reports for analysis and budgeting purposes, as claimed by the vendor.

General Ledger: According to the vendor, iFinance provides a centralized record of all financial transactions. Users can track and categorize income, expenses, assets, and liabilities, and generate accurate financial statements and reports.

Payroll: iFinance aims to help users efficiently manage employee payroll and related transactions, calculate and process salaries, deductions, and benefits, and generate payroll reports while ensuring compliance with tax regulations, according to the vendor.