Accounting and Finance

General Ledger (GL)

 

The GL module provides a multi-tier chart of accounts that gives virtually unlimited chart configurability. Accounts carry groups and departments for reporting purposes. Detailed drill-down functions provide summary or detailed views of transactions.

 

Other features include:

• Perpetual GL with no data consolidation or archiving
• User definable flexible periods and period controls
• Multiple periods can be simultaneously open
• No period end freezes
• Account and financial categories allow user to control standard financial report layouts.
• Batch or real-time posting of transactions
• Recurring and reversing journal entries based on user definable templates
• Multi-currency with Transactions
• User definable taxes and rates
• Choice of standard statements and balance sheets
• Wide variety of analysis of reports

Accounts Receivable (AR)

 

The Accounts Receivable system is fully integrated with the sales and customer modules to automate the generation of invoices and assist you in controlling and expediting your receivables. Application of payments is highly flexible including the ability of offset AP with AR.

 

It includes a variety of reports including statements, aging, and projects cash flow.

 

Feature includes:

• Invoice generator that batches creates invoices based upon shipments
• Shipments not yet invoiced are accrued
• Credit Management via Sales Order and Credit Watch functions
• Invoice batch printing
• Invoices can be printed to paper or PDF documents for emailing or faxing purpose
• Freight sales management
• Term discounts and unauthorized discount tracking
• Support deposits
• User-definable pay terms
• Commission management
• Support surcharges
• Track delinquent payment data in detail and display on aging report
• Variety of analysis reports including aging, customer history, accrual analysis
• Contract payment and delivery schedules
• Credits integrated with returns management
• Surcharge processing

Post Dated Cheque (PDC) Management

 

Software provides comprehensive PDC management where user can manage all incoming or outgoing payments via bank checks. Through PDC module user gets control over their checkbooks and checks issued to parties or bank transfers. Software provides check printing mechanism for post-dated check payments. User can configure check printing preferences for multiple banks.

 

Along with check detail user can configure tax accounts for withholding tax with pre-defined percentage or can enter tax amount manually. This applies to both Payment PDC and Receipt PDC.

 

PDC features include:

• Multiple bank check book management
• Track record for checks issued
• Check book history
• Posting of PDC into General Ledger System
• Un-Posting of PDC from General Ledger
• Tracks for bounced checks
• Records check details including check number, check date, entry date and payee name
• Tax deduction accounts

Costing

 

Software provides a variety of highly flexible costing processes that can be combined to meet of the needs of any manufacturing, distribution, or project-based environment.

 

Features and available processes include:

• Five simultaneously tracked costs at item Master
• Selected cost treatment for each item control inventory, WIP, and COGS transaction method in GL
• Standard or rolling average raw material costing
• Landed cost factors for freight, duty, brokerage
• Purchase price variance against standard cost
• Manufactured standard costing base on BOM
• Actual manufactured cost based reported material consumption and booked labor (Job Cost)
• Various overhead calculation methods

Accounts Payable (AP)

 

The AP module delivers the tools you need to efficiently process supplier invoices and payments. It completely integrated with the purchasing and receiving modules and supports three-way matching.

 

Features include:

• Purchases are accrued upon receipt
• AP Invoice creation reverses accruals and generates variances
• Easily manage small discrepancies
• Auto-Pay automated payment run by currency with integrated pre-approval process
• AP Payment module for single, complex payment processing
• Simple and effective management of prepaid amounts
• Miscellaneous payments can be made without creating invoices or suppliers
• User-definable terms
• Process invoices from multiple locations for centralized payment
• Check reconciliation and check register by bank check-books
• Variety of analysis reports including aging, vendor history, accrual analysis

Sub-Ledger Accounts

 

Software provides comprehensive sub-ledger accounting which reduces overhead from main chart-of account. With sub-ledger facility user can defined sub-ledger accounts for all business parties including Creditors, Debtors, Employees and LC Accounts. Software is also flexible to allow user to define sub-ledger accounts manually to drilldown activities like Vehicles, departments or any other facility.

 

Voucher Templates

 

Software provides user-defined voucher types and their associated behavior during voucher entry. Default accounts can be defined with Bank and Cash voucher types with flexibility to override with appropriate accounts.

 

Other Features

 

Project-based revenue recognition system moves revenue and expense to P&L based on job complete percentage.

 

Financial Statement (Report Writer)

 

Software allows user to design as many financial statements as needed. Each report allow user to clip multiple account or group of accounts with statement line and configure preferred totaling and sub-totaling.

 

Transaction Reconciliation

 

Software provides mechanism to mark transactions as reconciled with parties as well as with Banks. System provides ledger reports for reconciled, un-reconciled or all transactions to be appear in report. This allow user to easily track disputed transactions with parties or bank.