Financials Accounting

Administrative Management

Total control.
Whether you are an auditor or commercial director, or have a different role in administration, Mago4 is perfect as company accounting software: all administrative duties are just a click away, thanks to analysis and verification tools that provide maximum control over your business.

Flexible and transparent corporate accounting.

Thanks to Mago4 ERP you can optimize the administrative activity of the company accounts: you have modules and features to fulfill all tax obligationsproceed easily and intuitively, control in real timethe progress of the company and you can count on a concrete management control.

Since the administrative functions are integrated into the Mago4 ERP, all information flows transparently and clearly into accounting. In this way, data is always available and the entire administrative information flow can be tracked accurately: from the single warehouse to the production phase and the supplier. Documents and associated transactions can be accessed directly from Accounting, while basic information can be retrieved with a simple click.

So you save precious time and can make important decisions faster.

All financial accounting operations, as well as all Mago4 procedures, are simple and intuitive to use. For example, routine processes can be easily pre-assigned and you can automatically manage the entire accounting, including the center and cost units.

For even simpler business control, Mago4 allows you to save the forecast balance sheet values through the balance sheet data and automatically integrate them with the “real data” of financial accounting. In this way, the performance of the financial year can be detected at any time, offering the possibility of timely adjustments.

Mago4 is natively oriented towards international operations: this is why the ERP administration and financial accounting functions meet the tax requirements of ten different countries and allow the definition of individual international reports through the export of data in XBRL or BASEL II format. In this way, coordination with investors and shareholders is quick and accurate.

Mago’s accounting is also designed to manage the balance sheet of more than one company, for companies with accounting related to different countries and regulations, and for smaller companies, who wish to use only the export of data to their tax advisor.

The Plus of Mago4

  • PROFITS INCREASE through better visibility of costs
  • ERROR REDUCTION thanks to native controls
  • TIME SAVING with accounting templates
  • FASTER DECISIONS  thanks to data transparency
  • FORECAST ANALYTICS through budget control
  • BETTER LIQUIDITY given by optimal financial management

Modules for Financials Accounting management

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Financials Accounting
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Forecast accounting
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XBRL Balance
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Basel 2 Balance Analysis
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Multicompany Balance
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Analysis & Controlling
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Fixed Assets
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Cash Management
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Intrastat
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Advanced Bank Management
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Accounting Inventory Book
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Treasury
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Accounting Data Exchange with Omnia
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Importing Payroll
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Electronic invoicing

Meet all fiscal duties of your ordinary accounting management, from the posting of accounting transactions using the double entry method, to the printout of tax journals and of General Ledger journals, from balance statements to the analysis of economic and financial data, and also using free reclassifications of accounting balances. The core of the accounting management is the general ledger, where you can post all transactions with proper templates, and update linked data in real time (accounting balances, receivables and payables, vat data etc.). The structure of accounting data allows you to always get a perfect balance between accounts and payment schedules.

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Get a more detailed and reliable accounting period check.
Forecast entries look like accounting entries, but allow you to refer to future transactions, like for example the monthly rate of quotas that are usually posted at the end of the year, in order to get a simulated balance closer to the real company trend. The Forecast Accounting module is integrated with Financials, Analysis & Controlling and Fixed Assets modules.

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Thanks to Mago4 XBRL Balance module, you have the opportunity to turn your accounts into the XBRL standard format, used to send the balance statements to the Business Registry. With XBRL Balance you easily create an XBRL financial statement, because the module exploits the EEC reclassification already found in the general accounting module. XBRL is based on the definitions of taxonomy and instance, for which possible future revisions will be immediately available thanks to a specific Internet-based update function . [Only IT]

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The Balance Analysis – Basel II module gives you an effective aid in the company performance monitoring process, and you’re rapidly provided with a full assessment of the financial, assets and economic situation of your company, calculating its rating according to the Basel II principles. Thanks to the module you generate a Microsoft Excel worksheet dynamically connected to the company database, which draws the accounting figures for company self-assessment. Mago4 module can provide useful information to best prepare your company’s presentation to credit institutes. [Only for  IT]

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A real help if your company controls one or more businesses. Integrating with the Financials module, you quickly get the multicompany balance by loading and processing the balances of each controlled company and you can also process balances in foreign currencies. Accounting grouping criteria in the multicompany balance are standardized and simply  all accounts that refer to intercompany transactions are excluded, while it is always possible to keep details of the amounts of each company.

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Full and flexible solution to monitor your company transactions that affect company economic results. The module fits in with your company activity by using the free definition of cost centers and long-term jobs; furthermore you can use the same chart of accounts of Financials module. You can set all accounts as analytical accounts and, if you need to post extra-accounting transactions you can set accounts to be used in analytical entries only.

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Manage the complicated fixed assets issues from the moment of their purchase to their disposal, in accordance with current fiscal and legal requirements. This module is based on a detailed fixed assets master that allows you to manage customized depreciations. In this way you can calculate depreciation in all regimes, generating accounting entries according to the different methods. The record of depreciable assets is available in various formats. If the Analysis and Controlling module is activated, you can spread depreciation quotas among cost centers, jobs and product lines.

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Record debit and credit transfers of money, including collections and payments, using a special data-entry session, that is periodically consolidated posting pure accounting entries. Operations are simplified and you do not need to know any accounting principles, because every kind of transaction is assigned to a specific button: money transfer in, money transfer out, advance/collection from customer, advance/payment to supplier, advance for expenses and expenses/income. Collection and payment transactions are linked to scheduled payments. [Not available for IT and CH].

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Produce and send to Custom bureau the Intrastat lists required by Europea Union regulations for exchanges among member countries. Thanks to the perfect integration with the Financial and other logistics modules, proper “intra-EU entries” linked to intra-Community documents create and send the declaration. The level of detail of the information processed allows you to manage operations for tax purposes, for statistical purposes, or both.

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Advanced Bank Management helps you to create in the correct XML format the files for Bank Transfer and Direct Debit (SDD Core and B2B). The module enables you to print SDD Mandates to send the customer for subscription, also via e-mail, and also to keep your customers’ and suppliers’ bank list up to date, accessing via web-services to the updated files of Italian bank counters lists.

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Print all the statements that are part of the Book also including attachments to the print – they can be Mago4 reports or statements set by the user. The module includes the management of documents that allow you to specify an adjustment account on posting an issued or received document. Furthermore, you can manage adjustment entries and reclassification schemes with advanced functionalities, in order to produce reclassified balances according to customizable and flexible layouts.

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Treasury

With this module you are provided with the interface between Mago4 and DocFinance Treasury developed by Sedoc Finance Network, the complete solution for advance corporate treasury management – containing also the Remote Banking services called Telemachus. This way you can know, control and manage company treasury events, and constantly keep under control the financial situation and monitor the relationship with the banks. The integration between Mago4 and DocFinance is mutual: the procedure sends the customer and suppliers lists, accounting deadlines, and receives collections and payments, fees, interest, rebates, allowing the reconciliation of bank accounts.

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Accounting Data exchange with Omnia

Interface with the software OMNIA and send all accounting entries and VAT data. The export procedure analyzes the transactions to be exported, and guides you in inserting the missing combinations, such as correspondence to the OMNIA subaccount and / or the tax code. If you want to start your accounting management with Mago4 while keeping the supervision of your accountant, you can adopt his chart of accounts and avoid to connect to each OMNIA subaccount

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Payroll Import

Detect the accounting entries concerning the personnel management: you can import a text file generated by Omnia Payroll and obtain the posting of the general ledger in the accounting entries, as well as the corresponding analytical entries. With the help of Payroll templates you can define the schema for the accounting, select the posting nature (actual or forecast), establish its validity and the priorities for the automatic generation of the general ledgers.

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Mago manages all your Electronic Invoicing activities, the digital system for issuing, transmitting and storing invoices, which allows you to forget about paper and all the related printing, shipping and storage costs, guaranteeing the security and reliability of data and information. Mago4 ERP interfaces with Zucchetti Digital Hub to transmit documents in one click and, thanks to the immediate integration between the systems, it interacts with the Tax Agency and you can digitally archive invoicing documents.

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If I like how can I buy it?

If I like how can I resell it?

You can install a demo version and try it out in your company; you will be provided with all the support for the implementation of your new ERP.

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