A well managed company is the one whose managers have at any time access to current information about the company’s financial situation, the real sources of earned income, incurred costs or the balance of current receivables and payables.

Therefore, Comarch ALTUM system has been developed with the Finances component which purpose is not only simple registration of expenses and revenues. The Finances part of the system provides, among others, the following information:

• structure of cash flow in a company. The information provided refers both to the past – reports from already effected cash-bank transactions, and the future – analysis of planned revenues and expenses
• structure of the payment plan. Both planned due dates of receivables to be paid by our customers and our liabilities are registered in the payment plan. Hence, the payment plan enables to predict the revenues and expenses in the oncoming period and then take proper financial decisions
• sources of our profit, our investments, sources of costs – each cash-bank transaction is assigned to a category the entry refers to. Each entry provides hence the information about the type of cost it refers to or a type of revenue which increases our profits. On the basis of this information it is possible to prepare very useful statements presenting the layout of costs and revenues in the company

Because the purpose of the Finances component of the system is to register all kind of issues connected with cash flow in the company, it means that this area of the system must gather also the information derived from other parts of the system. It other words, the Finances part must register each financial event that occurs in the company. Only then this part of the system will be able to administer the finances and generate thorough financial situation of the enterprise (past position, current position and forecasts).

The information registered in the Finances area derives from the trade-warehouse part of the system and from VAT accounts. Each issued transaction with a customer/vendor is connected with payment. Such payment can be immediately effected in cash, by check or by credit card – appropriate entry will then be registered in a cash register, or it can be deferred – the information about the planned payment (e.g. by check) will then be registered in the payment plan.