Does your finance team spend the last two weeks of every quarter manually reconciling numbers between your operational system and your accounting software?
When the CEO asks for a P&L by business unit, how long does it take to produce one -- and how confident is the finance team that it's right?
Financial reports that require a week of manual assembly before a board meeting are reports your finance team is producing, not your system.
Finance and accounting ERP covers the systems that track money through the business: general ledger, accounts payable, accounts receivable, bank reconciliation, and the financial reporting that management and external stakeholders need. When these live in disconnected systems or manual spreadsheets, every close cycle involves reconciling numbers between sources -- a process that takes time and produces errors.
RaftLabs builds custom finance and accounting ERP modules that integrate with your operational systems -- purchasing, sales, inventory -- so the financial record is created from the operational transaction rather than entered separately. General ledger, AP/AR, bank feeds, multi-entity support, and financial reporting built around the reporting structure your business requires.
General ledger with chart of accounts designed for your reporting structure -- not a generic template
Accounts payable with purchase order matching and three-way match before payment approval
Accounts receivable with automated invoice generation from sales orders and payment reconciliation
Multi-entity support for businesses with multiple legal entities or subsidiaries requiring consolidated reporting
RaftLabs builds custom finance and accounting ERP modules -- general ledger, accounts payable, accounts receivable, bank reconciliation, multi-entity support, and financial reporting -- integrated with purchasing, sales, and inventory for a single financial record. Most finance ERP projects deliver in 12 to 20 weeks at a fixed cost.
The close cycle problem in most mid-market businesses isn't a people problem -- it's a data problem. Operational transactions sit in one system, accounting entries sit in another, and finance reconciles between them manually every month. The reconciliation takes days, the errors take longer to find, and the board pack lands a week after the period ends. The reports that management needs to make decisions arrive after the decisions have already been made on gut feel.
A custom finance ERP module changes the sequence. Operational transactions -- purchase orders, sales orders, goods receipts, production completions -- generate accounting entries automatically. The GL reflects the business in real time, not at the end of a manual import. Period close becomes a review and sign-off rather than a data assembly exercise. Consolidated reporting for multi-entity businesses runs from a single data model, not a spreadsheet built by merging exports from separate systems.
What we build
General ledger and chart of accounts
Chart of accounts designed for your business structure and reporting requirements -- not a generic template your finance team works around. Double-entry journal with automatic entries generated from AP, AR, payroll, and inventory transactions so manual journal volume stays low. Period-end close process with lock after sign-off preventing backdating. Multi-currency support with exchange rate management and revaluation. GL drill-down from any P&L or balance sheet line to the underlying transactions, so questions from management have answers in seconds.
Accounts payable
Purchase order and vendor invoice matching. Three-way match across PO, goods receipt, and invoice before payment approval -- catching discrepancies before they become disputes. Approval workflow for invoices above threshold with configurable value bands and approver routing. Payment run with bank file generation in BACS, SEPA, or local format. Supplier statement reconciliation. Early payment discount tracking so finance captures discounts where they're available. AP aging report for cash flow management and supplier relationship monitoring.
Accounts receivable
Automatic invoice generation from sales orders or time records, eliminating the manual invoicing step that creates billing delays. Payment allocation against open invoices with partial payment handling. Credit control workflow for overdue accounts with automated reminders at configurable intervals before manual escalation. AR aging report by customer and by days overdue for collections prioritisation. Customer statement generation on schedule or on demand. Bad debt provisioning workflow with sign-off before write-off posting.
Bank reconciliation and cash management
Bank feed integration for automated transaction import, reducing manual bank statement entry. Automated matching of bank transactions to GL entries based on amount, date, and reference rules. Exception workflow for unmatched transactions with investigation and manual match or posting. Cash flow forecast generated from open AP payment schedule and AR expected receipts. Multi-bank account management with separate reconciliation per account. Petty cash and expense management with approval workflow and GL posting.
Multi-entity and consolidation
Multiple legal entities in a single ERP with separate chart of accounts, separate reporting periods, and entity-specific tax configuration where entities operate in different jurisdictions. Intercompany transaction management with automatic elimination entries at consolidation. Consolidated P&L and balance sheet across all entities generated automatically at period end -- no manual merging of separate system exports. Support for different currencies per entity with consolidation into the reporting currency at configured exchange rates.
Financial reporting and compliance
P&L, balance sheet, and cash flow statement generated directly from the GL without manual assembly. Department and cost centre reporting giving operational managers visibility into their numbers without waiting for the finance team to extract and format data. Budget vs. actual reporting with variance analysis at any level of the chart of accounts. Management report pack generated and delivered automatically at period end. Audit trail for every journal entry. Export in formats required for external auditors and tax filings, reducing the time your finance team spends on audit preparation.
Have a finance ERP project?
Tell us your reporting requirements, the systems that currently generate your financial transactions, and where the close process breaks down. We'll scope the module and give you a fixed cost.
Related ERP development services
ERP Software Development -- full ERP capability overview
Manufacturing ERP Software -- production modules that generate financial transactions
Inventory Management ERP -- inventory management integrated with finance
ERP Integration Services -- connecting finance module to existing systems
Related services
Business Intelligence -- financial dashboards and reporting on ERP data
Compliance Automation -- regulatory reporting from financial ERP data
Data Engineering -- data pipelines from ERP to analytics systems
Frequently asked questions
Finance works best when it is integrated with the operational systems that generate the financial transactions -- purchasing, sales, inventory, and payroll. When finance is a standalone accounting system, someone manually re-enters operational data or runs periodic imports, creating the reconciliation work that consumes finance teams' time. A custom ERP with integrated finance generates the accounting entries from the operational transactions automatically. If your operational processes are in a system without a finance module, integrating a standalone accounting tool (Xero, QuickBooks) via API is a faster and cheaper option than building a custom finance module.
Yes. Multi-currency support covers transaction entry in a foreign currency with automatic conversion to the base currency using configured exchange rates; revaluation of open foreign currency balances at period end; realised and unrealised exchange gain/loss calculation; reporting in both transaction currency and base currency. Exchange rates are loaded manually, via a scheduled feed from a bank or exchange rate service, or fixed at a budget rate for internal reporting.
A core finance module covering GL, AP, AR, and bank reconciliation typically takes 12 to 16 weeks. Multi-entity support, consolidated reporting, and budget management add 6 to 10 weeks. Finance modules are typically built alongside or after the operational modules they integrate with -- the timeline depends on what operational systems the finance module needs to receive transactions from.
The chart of accounts is designed during discovery with input from the finance team and the reporting requirements of management and external stakeholders. A well-designed chart of accounts balances the granularity needed for operational tracking with the structure needed for financial reporting -- too many accounts creates complexity without value, too few loses the visibility management needs. We document the proposed chart of accounts and validate it with the finance team before development starts.