Name: Nextworld ERP Financials
Author: Nextworld

Customer Success Management Training

Customer Training

Help Desk

Web and Video Conferencing

Customer Support

Accessibility Testing

Continuous Integration

Feature Management

Development

Virtual Classroom

Education

Business Intelligence (BI)

Collaboration

Enterprise

Accounting

SaaS Spend Management

Treasury Management

Finance and Accounting

Applicant Tracking

Corporate Learning Management

Employee Onboarding

HR Management

Payroll

Talent Intelligence

Talent Management

Workforce Analytics

Workforce Management

Human Resources

AIOps

API Management

Cloud Storage

Configuration Management

Custom Software Development Services

Cybersecurity Consulting

Database-as-a-Service (DBaaS)

Fraud Detection

Game Engine

Integration Platform as a Service (iPaaS)

LAN Switches

Managed Detection and Response (MDR)

Managed Public Cloud Infrastructure

Mobile Data Security

Network Behavior Analysis

Network Performance Monitoring

Sensitive Data Discovery

Service Desk Outsourcing

Software Composition Analysis (SCA)

Vendor Risk Management

Information Technology

A/B Testing

Ad Serving & Retargeting

All-in-One Marketing

Content Management

Ecommerce Personalization

Email Marketing

Market Research

Marketing Automation

Marketing Resource Management

Social Media Management

Survey & Forms Building

Web Analytics

Marketing

Project Management

Professional Services

Customer Onboarding

Customer Relationship Management (CRM)

Point of Sale

Sales Enablement

Sales Incentive Compensation Management

Sales Performance Management

eCommerce Analytics

Sales

Cloud Infrastructure Entitlement Management

Cloud Security Posture Management

Secure Service Edge (SSE)

Security

Banking

Church Management

Financial Services CRM

Geographic Information

Internet of Medical Things

Medical Office EMR & EHR

Mental Health

Online Voting

Revenue Cycle Management (RCM)

Vertical-Specific

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Nextworld ERP Financials is a cloud-based financial management solution designed to enhance efficiency and flexibility in finance organizations. It caters to small, medium, and large enterprises across various industries, including manufacturing, distribution, retail, e-commerce, and more. This solution is utilized by accountants, finance professionals, financial managers, controllers, CFOs, and finance executives to streamline financial processes and gain valuable insights into business operations.

## Key Features

**Flexible General Ledger Structure**: Nextworld ERP Financials offers a flexible general ledger structure that allows users to adapt to changes in their business. Authorized users can modify the organizational structure and chart of accounts without impacting historical transactions. The solution allows for the sharing of the chart of accounts across multiple companies, reducing the management of general ledger accounts. Users have precise control over the selection of general ledger accounts when creating transactions through flexible GL mapping rules.

**Role-Based Information and Dashboards**: Nextworld ERP Financials provides role-based information and drillable dashboards, offering users a comprehensive view of their business. Users can easily query data from the list view using advanced filtering and saved searches. Summary reports provide insights into various aspects of the business. Nextworld cubes enable real-time aggregations and analyses of organizational data, empowering users to build and store balances on any desired dimension.

**Customizable Workflows**: Nextworld ERP Financials offers built-in, configurable workflows that automate processes and facilitate the management of approval rules. Users can customize the period close checklist to align with their specific requirements for month-end activities. The no-code development platform, Nextbot, allows users to extend functionality and customize workflows, security, reports, and more. Customizations made using Nextbot are automatically incorporated with every patch and upgrade.

**Built-in Analytics**: Nextworld ERP Financials includes built-in analytics to provide users with insights into their financial data. Users can leverage the analytics capabilities to make informed financial decisions. The solution enables reporting across modules with attributes such as customers, suppliers, items, jobs, cost codes, and more. Nextworld cubes deliver real-time aggregations and analyses of organizational data.

**Mobile Application Access**: Nextworld ERP Financials can be accessed from any device using the mobile application. Users can conveniently manage financial tasks and stay connected to business operations from anywhere.

**Supplier Invoice Automation (SIA)**: Nextworld ERP Financials seamlessly integrates with Supplier Invoice Automation (SIA) by Forza, an invoice automation solution. SIA automates the processing of PDF invoices and electronic invoices, reducing manual effort and minimizing risk.

**Bank Payment Automation (BPA)**: Nextworld ERP Financials integrates with Bank Payment Automation (BPA) by Forza, a solution that generates electronic XML bank payment files. BPA simplifies the payment process, reducing manual effort and minimizing payment exceptions.

Acumatica delivers a set of cloud-based business software applications with dashboards, reporting tools, integrated document management, centralized security, and customization tools.

Nextworld ERP Financials

Enterprise Resource Planning (ERP) Systems are business management software that allows an organization to use a system of integrated applications to manage the business. ERP systems integrate development, manufacturing, sales and marketing.

Enterprise Resource Planning (ERP)

Nextworld

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.

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

Journals and Reconciliations

Automate and synchronize ledgers and processes

Configurable Accounting

Configure accounting rules and segments for each chart of accounts

Standardized Processes

Centralize financial management to facilitate standardized financial processes

Subledger and Financial Process

Revenue management solution including capabilities for subledgers and financial processes

Billing Management

Access role-based billing work area, perform discrete and recurring billing

Cash and Asset Management

Manage liquidity and cash requirements, asset transfers, disposals, reclassifications, and financial adjustments

Travel & Expense Management

Enter expenses from mobile devices, integrate credit card and travel booking, configure policy enforcement

Budgetary Control & Encumbrance Accounting

Control spending at any budget level or time interval

Period Close

Sustain fast close with integrated subledgers, intuitive dashboards, embedded collaboration

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.

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.

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.

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.

Custom reports

Customization

This addresses a company’s ability to configure the software to fit its specific use case and workflow.

API for custom integration

An API (application programming interface) provides a standard programming interface for connecting third-party systems to the software for data creation, access, updating and/or deletion.

Plug-ins

A number of third-party plug-ins are available to expand the core functionality of the software.

This component helps a company minimize the security risks by controlling access to the software and its data, and encouraging best practices among users.

Role-based user permissions

Permissions to perform actions or access or modify data are assigned to roles, which are then assigned to users, reducing complexity of administration.

Single sign-on capability

The software system supports a centralized authentication mechanism allowing the user to access multiple systems with a single, centrally managed password.

Multi-factor authentication

User-level audit trail

Grants Management

Grants management solution for higher education, public sector, or non-profits with capabilities for managing financial awards for program and project funding

Award Lifecycle Management

Manage the life of program funding awards from initial funding to close-out

Project Financial Management

Project financial management solution including capabilities for project budgeting, cost control, billing and contract management.

Budgeting and Forecasting

Establish project budgets and forecast future project financials

Project Costing

Standardize, track, and control costs at all project phases

Cost Capture

Capture costs including those for procurement, financials or time and labor, including from external systems

Capital Project Management

Customer Contract Compliance

Associate projects or tasks with customer contracts, and lines within contracts, to meet billing terms

Project Revenue Recognition

Recognize project contract revenue in line with accounting policies and regulations

Project Execution Management

Project execution management solution including capabilities for project scheduling, resource management, and team member task management.

Nextworld ERP Financials

Overview

What is Nextworld ERP Financials?