Enterprise resource planning (ERP) finance systems put accounting, budgeting, and operational data into one place. For growing SMBs, that means clearer reporting and fewer manual reconciliations. But accounts payable (AP) workflows often lag behind. Even with an ERP, invoice processing, approvals, and matching can still mean hours of manual data entry and a higher risk of mistakes.
In this article, we’ll explore what ERP finance modules do and how integrating them with tools like Moss improves workflows and spend visibility↗.
What’s an ERP finance module, and why does it matter?
ERP systems consolidate financial data from across your business into one place. Instead of using separate tools for accounting and budgeting, your finance team works from one platform that updates in real time.
The finance module is the heart of any ERP business setup. This system:
- Manages your general ledger.
- Tracks accounts payable and accounts receivable.
- Forecasts costs and profits.
- Maintains an audit trail and generates tax compliance reports.
This centralisation reduces errors, speeds up month-end close, and gives leadership access to accurate financial data.
Key ERP modules and their functions
ERP finance systems are built around several core modules. Each handles a different aspect of financial management, but they all pull from the same financial data so your reports stay consistent. Below are their main features.
General ledger and reporting
The general ledger records every financial transaction, from sales to payroll. It’s the foundation your ERP uses to generate balance sheets and cash flow reports↗.
Most ERP systems automate parts of reconciliation, flagging discrepancies between bank statements and recorded transactions. This reduces manual checking and speeds up month-end close.
Accounts payable and accounts receivable
Accounts receivable (AR) tracks customer invoices and incoming payments, while accounts payable (AP) manages supplier invoices and outgoing payments.
ERPs generally handle AR well. Customer invoicing is fairly straightforward because the workflow is consistent across customers.
But AP is more challenging. Vendor invoices arrive in different formats, and approval workflows vary by department, and matching invoices to purchase orders often requires manual work. That’s where most of the manual labour and audit risk sits, which is why AP benefits from specialised automation↗.
Cash management and financial planning
ERPs streamline cash flow tracking, forecasting, and budgeting. Here’s how:
- ERPs monitor customer and vendor payments, giving teams an accurate overview of when money is coming in and going out.
- Leaders and finance teams use this real-time data to forecast cash flow for future months.
- Based on these figures, brands can set realistic budgets.
Tools like Moss give you current views of company spend and budgets, then syncs that data back to your ERP. You get clearer visibility without manual spreadsheet updates.
Tax, compliance, and risk management
This module handles VAT calculations↗ and regulatory filings. ERP systems include tax rules for different jurisdictions and automated VAT tracking. Audit trails show who approved each transaction.
For businesses operating across regions, built-in tax rules reduce the risk of calculation errors or missed deadlines. It also simplifies audits because everything’s documented in one place.
Best practices for ERP finance integration
Implementing an ERP finance system takes more than installation. You need to plan around how your team actually works and identify where automation can replace repetitive tasks. Below are a few tips for successfully implementing these systems:
- Map your current workflows: Document how invoices move through your business today — who receives them, how they’re approved, and where they’re stored. This gives you a clear picture of what needs to change.
- Identify which processes belong in your ERP and which are specialised: Your ERP solution will effectively handle general ledger and expense reporting↗. But AP often needs specialised support. If your AP process involves complex approval chains or high invoice volumes, consider pairing your ERP with a dedicated AP automation tool.
- Maintain clean data standards: Automation only works when your data is structured consistently. Establish naming conventions for suppliers and cost centres. Require proper coding on invoices and purchase orders. The discipline you apply up front saves hours of cleanup work later.
- Review and refine regularly: Your business processes will change as you grow. Check your approval workflows and spending patterns every quarter. Adjust your ERP configuration so your finance system suits your business operations.
- Reconcile your AP data regularly to keep reporting accurate: Check that transactions sync correctly to your ERP and that coding stays consistent.
Benefits of ERP finance system and Moss integrations
Your ERP finance system manages your general ledger and reporting well. But the AP process — from invoice capture to approval routing — often still involves manual data entry and chasing approvals.
Moss automates those tasks without replacing your accounting or ERP software. It connects to platforms like DATEV, Xero, Exact Online, and ADAS, handling the AP workflow while your ERP manages the financial records.
Our software automatically extracts data from invoices, regardless of format. The invoice data flows straight into your approval workflow — no manual typing, no transcription errors.
Approval rules route invoices based on amount, department, cost centre, or supplier. You get visibility into where each invoice sits without hunting down approvers. The system matches incoming invoices to purchase requests, flagging discrepancies in pricing or quantities, so your team catches errors before they hit your ERP.
Once invoices are approved and matched, Moss exports the transaction data to your ERP. Your financial records stay current without manual imports or duplicate entries. Overall, this shortens the AP cycle↗, speeding up workflows and reducing financial reporting errors.
Streamline accounts payable with Moss
ERP finance systems centralise accounting and reporting in one platform. But AP often remains a weak point. Manual invoice entry and time-consuming matching create a bottleneck.
Moss addresses that gap by automating invoice capture and routing approvals based on spend policies. Internal controls enforce themselves, reports have fewer errors, and you gain clearer visibility over company spend.
Moss connects with dozens of ERP↗ and accounting platforms; see which ones work with your existing tech stack.
