Name: iFinance
Author: Business DNA

Help Desk

Web and Video Conferencing

Customer Support

PHP Frameworks

Product Lifecycle Management (PLM)

Development

Learning Management

Education

Business Intelligence (BI)

Collaboration

Document Generation

Enterprise Resource Planning (ERP)

Visitor Management

Enterprise

Accounting

CTRM

Financial Close

Investor Relations

Finance and Accounting

Applicant Tracking

Compensation Management

Corporate Learning Management

HR Management

Payroll

Talent Intelligence

Talent Management

Workforce Analytics

Workforce Management

Human Resources

AI Agent Builder

API Design

Archiving

Change and Configuration Management

Cloud Storage

Composable Infrastructure

Custom Software Development Services

Database Performance Monitoring

Dynamic Application Security Testing (DAST)

Enterprise Backup

Fraud Detection

Integration Platform as a Service (iPaaS)

Network Performance Monitoring

Network Virtualization

Security Validation

Software Composition Analysis (SCA)

System Monitoring

Value-Added Resellers (VARs)

Web Application Firewalls

Information Technology

A/B Testing

Ad Serving & Retargeting

All-in-One Marketing

Blogging

Content Management

Content Marketing

Data Management

Email Marketing

Marketing Automation

Public Relations (PR)

Screen and Video Capture

Social Media Management

Survey & Forms Building

Web Analytics

Webinar

Marketing

Professional Services Automation

Project Management

Prototyping

Professional Services

Customer Communication Management

Customer Relationship Management (CRM)

Point of Sale

Sales

Cloud Infrastructure Entitlement Management

File Integrity Monitoring

Intrusion Detection

Security

3D Modeling

Aviation

Chargeback Management

Chiropractic

Financial Services CRM

Internet of Medical Things

Legal Research

Vertical-Specific

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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.

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Kashoo is a simple cloud-based double-entry accounting platform for small businesses. It is mobile-accessible and features include receipt capture, automated invoicing, tax preparation, financial reports, banking, and expense management features.

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iFinance

1 in 3 accounting software users find it difficult to choose the right tool. Find the best solution for you.

The Buyer’s Guide to Accounting Software

Accounting software automates and streamlines financial management, from core functions like accounts payable and receivable to complex tasks like ledger management and reporting. They are aimed at enhancing accuracy, providing real-time financial insights, and ensuring compliance. Advanced systems integrate with other business tools, supporting everything from expense tracking to payroll. Explore user reviews and comparisons to find the best accounting software for your business.

Business DNA

General Ledger and Configurable Accounting

Financial management solution, including capabilities for general ledger and configurable accounting

Accounts payable

This includes the automation and tracking of payment to vendors and suppliers, with features such as payment scheduling, check printing, open purchase order alerts, document management, direct ACH bill payment, and vendor records.

Accounts receivable

This includes the management and automation of invoices and collections, with features like statements, invoices, receipts, payment reminders, customer records, auto billing, and refund checks.

Cash management

The software provides a complete picture of a company’s cash flows, streamlines payment processing, and includes cash forecasting.

Bank reconciliation

The software connects to a company’s financial institutions in order to reconcile accounting records with checking, savings and credit card accounts. Often month and year closing capabilities are included.

Expense management

The software can log and track business expenses and reimbursements, including travel-related expenses, with the ability to tie them to particular projects.

Time tracking

The software can track billable and non-billable employee time by project.

Fixed asset management

This includes the ability to track fixed assets (e.g., laptops), including location, check-in and check-out, maintenance scheduling, audit history, specialized property tax period reports, cost and depreciation.

Multi-currency support

The software supports transactions across multiple currencies.

Multi-division support

The software is flexible and supports bookkeeping practices along multiple dimensions such as locations, branches or products.

Regulations compliance

The software helps users adhere to typical accounting standards and regulations such as IFRS, GASB, or GAAP.

Electronic tax filing

The software provides a full electronic interface for the filing of repeatable taxes, such as payroll or sales tax.

Self-service portal

The software provides online portals for certain stakeholders to find information relevant to them, such as employees, vendors and customers.

Global Financial Support

Account using multiple ledgers, multiple currencies, and multiple entities

Primary and Secondary Ledgers

Record and report across multiple currencies and accounting standards with primary and secondary ledgers

Intercompany Accounting

Automatically balance and reconcile GL for intercompany transactions

Localizations

Meet reporting requirements with country-specific localizations

Journals and Reconciliations

Automate and synchronize ledgers and processes

Enterprise Accounting

Create accounting for disconnected ERP and non-accounting source systems

Configurable Accounting

Configure accounting rules and segments for each chart of accounts

Centralized Rules Framework

Integrate disparate ERP and transactional systems into single ERP instance

Standardized Processes

Centralize financial management to facilitate standardized financial processes

Inventory Management

The ability to track and manage the flow of goods or materials into and out of an inventory.

Inventory tracking

The software syncs orders and stock to maintain a real-time picture of inventory and supports multiple methods such as LIFO and FIFO.

Automatic reordering

The software can be set up to automatically reorder a good when it falls below a certain threshold.

Location management

The software can track multiple goods across multiple locations.

Manufacturing module

The software helps track and manage raw materials, work-in-progress items, and finished goods.

Order Management

The ability to process orders, and track them from quote to cash.

Pricing

Users can set up complex and unique pricing requirements.

Order entry

Users can enter an order once, and the data flows to all the necessary units such as fulfillment and billing.

Credit card processing

The software facilitates credit card processing.

Cost of goods sold

The software calculates the direct costs attributable to a finished product, such as materials and labor, and includes roll-up pricing.

Order Orchestration

Define and execute order fulfillment processes for products as well as services on the same order.

End-to-end order visibility

Get updates on orders, inventory, shipments, planned supply, and invoices, and improve the quality of decisions through in-context analytics

Order exception Resolution

Monitor fulfillment tasks and resolve issues, view and evaluate varios options via what-if analysis and define and enforce change order rules

Payroll Management

Provides for pay calculation and benefit plan administration, in addition to managing direct deposit, salary revisions and payroll tracking.

Pay calculation

Pay calculation provides for computation of employee pay with state and federal deductions.

Benefit plan administration

Benefit plan administration is administration of health insurance plans and 401k plans, and other benefits.

Direct deposit files

Direct deposit is the ability to electronically transfer pay to an employee’s personal bank account.

Salary revision and increment management

Salary revision is the ability to modify individual employee pay.

Reimbursement management

Reimbursement management provides cash reimbursement for employee expenses related to business travel or other.

Reporting & Analytics

Users can report on and analyze usage, performance, ROI, and/or other metrics of success.

Dashboards

Users can create, customize and share dashboards, which provide an overview of the most important metrics.

Standard reports

The software offers pre-built reports with metrics standard to the category.

iFinance

Overview

What is iFinance?