Easily manage the accounting processes of inventory, fixed assets and prepaid/collected expenses by parametrically configuring inflation adjustments in ERP systems.
Inflation is the general increase in the prices of goods and services in a country or region over a given period of time. Rapid inflation can distort the amounts tracked in accounting records from their true value. For this reason, some companies are required to prepare financial reports to shareholders and government officials in specific currencies that are not affected by inflation. Balances that are understated by inflation must be adjusted by applying indices that measure the rate of inflation. The Consumer Price Index is the most common approximate measure of inflation, comparing the average price of different goods and services and their price increases over time.
The processes where adjustments are made on ERP systems within the scope of high inflation accounting application with Experteam Inflation Accounting solution are as follows. In these processes, changes are made parametrically according to customer needs.