What is SunSystems?
SunSystems is a financial management system accounting software that provides visibility into all the moving parts of business operations covering all business directions including security, regulations, and compliance. As digital transformation sweeps through small, medium, or large enterprises across all industries in Kenya, Uganda, and worldwide, the CFO and finance department has evolved to be concerned about pure finances and more engaged in planning and strategy.
Key features and functions of SunSystems
SunSystems delivers all aspects of accounting management, including nominal ledger, payables and receivable ledgers, cashbook, multi-currency, and multi-dimensional analysis from one single source enabling Kenya and Uganda businesses to meet evolving accounting and reporting requirements. Some accounting functionalities include;
Multi-company support: This is standard for most business accounting systems, but SunSystems takes this further with support for configurations of each business as separate locales within one deployment. Each configuration can have its own base currency, chart of accounts, and business rules to meet local requirements. Each configuration can have its own independent setup, or multiple companies can be supported within a single business entity.
Multi-language: Sunsystems can be used by different users with each accessing the systems in their preferred language yet still under the same deployment.
Multicurrency: SunSystems supports four currency dimensions for each transaction: transaction currency (variable), base currency (fixed per business unit), reporting currency (fixed per business unit), and fourth currency (variable). “Variable” means the fourth currency code may vary line by line with the ability to address sophisticated requirements, such as branch accounting in different currencies, tracking values by a charity’s donor, or other payment currency (which is distinct from the transaction currency, or the local or corporate accounting currencies).
Multi-tax: SunSystems’ tax calculation capability is simple, but flexible, addressing most tax requirements within the core product.
Parallel charts of accounts: Organizations can have various charts of account structures for different entities. This supports the requirement of some countries to code financial data to a statutory chart of accounts structure. Acquired entities may continue to operate a historic coding structure, and different lines of business can utilize other structures that are more appropriate. Multiple charts of accounts can be maintained for each company, making it easy to apply different reporting perspectives to the same financial transactions.
Smart transactions for localized reporting: SunSystems allows you to define additional data to be captured and stored on all source transactions, as well as refine what data is required for different accounts or types of transactions.
SunSystems gives businesses real-time access to all finance and accounting information, so they can make fast and effective decisions. Infor SunSystems’ unified ledger delivers access to all aspects of financial management— including nominal ledger, payables and receivable ledgers, cash, currencies and fixed assets from one single source. Thanks to SunSystems’ inherent flexibility, organizations can meet evolving accounting and reporting requirements—from changing local compliance requirements and multiple GAAP standards to updated IFRS standards.
Corporate allocation and intercompany
Corporate allocation is a powerful module that allows you to manipulate existing ledger transactions to generate new transactions. It splits or reassigns expenses,
revenues, and other transactions using predefined rules. Allocate amounts across business units, periods, accounts, and analysis codes such as departments or projects. The charges can be split, increased, or decreased. Corporate allocations generate and post ledger transactions. It automates the apportionment process and repeats it each period, or as often as required.
Most organizations will need to account for more than one business which SunSystems caters to out of the box. Many of these businesses will also trade amongst themselves, meaning that processing intercompany account balances can be a daunting and time-consuming task for the finance department. SunSystems has sophisticated intercompany capabilities built into the core solution to streamline this process.
Fixed asset management
Fixed asset management is a fully integrated SunSystems ledger accounting system component. As transactions are entered into SunSystems to record asset acquisitions or disposals, asset values, and quantities are updated into the register accordingly. Depreciation is calculated automatically using a wide range of depreciation methods, from a simple straight line to the full table based, with options for accelerated and reduced depreciation where permitted. All asset transactions are posted to the unified ledger, impacting immediately on the register and the relevant profit and loss and balance sheet accounts.
Sales and order management
Flaxem Systems has enabled many Kenyan and Ugandan businesses to take complete control of their sales, purchasing, and inventory management, and seamlessly integrate their operations with their partners and customers through Infor SunSystems. We configure order processes and sequence transaction stages via user-defined workflows to suit the way your business works. You can automatically update your ledger and inventory in real-time, and create, store, and access any associated documents.
SunSystems has helped many businesses in Kenya and Uganda to improve control and reduce costs by maintaining complete oversight of purchasing activities over large numbers of employees with robust spending control and management capabilities. You can allow your employees to manage their own purchasing requirements while operating under rules and workflows you’ve defined and automated to enforce corporate policies. Users can raise requisitions directly from within SunSystems and have them automatically pass through a multi-level approval workflow to generate purchase orders. Match purchase invoices to receipts and orders for end-to-end control of budgets and spending.
The module includes inventory management and inventory traceability, with additional options such as costing, landed costing, cost analysis, and product profiles. It tracks inventory movements in and out of different warehouse locations and includes multiple allocations and costing methods, as well as extensive user-defined analysis capabilities, across items and warehouses.
How businesses in Kenya and Uganda can customize SunSystems to meet their specific needs and requirements
Being an agile-based and niche-based business accounting software, SunSystems can be easily customized to fit any specific business needs. SunSystems is used by a variety of businesses from small to large international conglomerates and in every kind of sector from government institutions to private and more niche-specific businesses.
Additionally, SunSystems has both onsite and in-cloud services. This is very important for some businesses or institutions in Kenya and Uganda where internet access is limited. On the other hand, businesses operating in remote areas can leverage the in-cloud version of SunSystems which will enable them to stay in close contact with all stakeholders no matter which type of world the different parties may be in.
If you are wondering whether SunSystems would be the most appropriate solution for your business, please call us at +254 202 305 051 (KE), +256 414 665 846 (UG), or book a demon with us.