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Financial Management

Financial Management

Having the right tools to manage your business is critical for any organisation. The tools must not only provide you with accurate, reliable and error-free information but be intuitive, consistent and provide the user with an easy to use interface. Classic prides itself on delivering a Financial Management tool-set that is easy to use, comprehensive in its offering though simple in it delivery.

Classic’s Financial Management software is catered directly to the Oil & Gas, Mining, Exploration and Engineering industries. The software includes a wide array of detailed modules that allow for a more holistic and thorough business understanding.

General Ledger

General Ledger is the heart and soul of CLASSIC software and is one of the most powerful General Ledgers in the market. All other financial modules post directly to the General Ledger giving you the ability to view your total financial picture with up-to-the -minute reports. General Ledger is the tool for complete financial management.

Payroll

The Classic Payroll system has some very powerful and unique approaches to payroll calculation which make it extremely flexible. It can be used to process payrolls for Hourly, Rostered and Salaried employees and produce pays on cheques, cash or bank deposit – all with Payslips.

Accounts Payable

The Classic Accounts Payable function has been designed to operate in a stand-alone mode or in close cooperation with the Purchase Order module.

The Accounts Payable module has some of the most powerful features of any product on the market place. It is a combination of two operations, invoicing and payments. Each section has its own editing and posting features and integration features provide immediate lookup to vendors, stock and requirements in the Tenement/Costing module.

Paid-out and immediate cash/payment features mean all transactions of all types can be handled through the same input screen.

Some of the specific highlights of the module are outlined below:

Fixed Assets

You can choose from a wide variety of features and tools in Classic Fixed Assets to help you manage your Assets. You don’t need to use all features of Classic Fixed Assets, and we believe that there wouldn’t be too many of our users that do use all the features. You can use whatever feature of Classic Fixed Assets you need to and ignore the features that you don’t currently have a use for.

Bank Reconciliation

The Classic Bank Reconciliation module helps you keep accurate records of your bank transactions and it will also make reconciling these transactions to your bank statement easier. You may have a number of bank accounts and these may even be transacting in different currencies.

Classic’s Bank Reconciliation solution helps you to keep accurate records of your bank transactions by recording all bank transactions automatically from the other modules of the Classic ERP.  Reduce your manual data entry and duplicate records with this automatic integrated solution. At a glance have a full account of all your bank transactions and gain transparency into your finances. Produce your Cash Flow report for submission to the ASX.

Accounts Receivable

Classic Information Systems Accounts Receivable (AR) solution is a fully integrated financial solution for all your Accounts Receivable requirements, designed to operate either open item and/or balance forward type of accounts. Unlike many old fashioned modules this one will allow users to retain information in detail on debtors for any length of period irrespective of the fiscal calendar which may be set in the System Profile of your system – See System Profile from your Application Menu.

As with all Classic modules any external third party reporting – in this case Statements to debtors – are definable by the user and there are multiple formats to select and amend as required.

The Classic Accounts Receivable module provides excellent professional features for full transaction and reporting flexibility. However it is designed to operate with the Sales Orders/Invoicing module – i.e. invoices are prepared in the Sales Orders module and posted through to the AR module. Cash receipts can of course be entered through the Sales Orders system while receipts from customers are entered through the transaction maintenance section of this module.

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