Financial Management System

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Financial Accounting System is a comprehensive online double entry book keeping system. The Financial Accounting system has a provision of managing General Ledger, Account Receivable and Account Payable. The system will have facility to maintain balances for any period – Ledger head wise, party wise and schedule wise. The System will have the functionality to prepare vouchers like Receipts, Payments, Journal, and Debit & Credit Notes with approval option of the above vouchers.

Following are 3 sub modules:

  • Financial Accounting
  • Fixed Asset Management
  • Costing

1.1 Financial Accounting

Features & Processes Covered:

  • Receipt  & Payment with Approval
  • Journal with Approval
  • Purchase bills & Sale Invoices  Approval
  • Provisional Journals
  • Bank Reconciliation

Transaction Prints

  • Voucher Printing
  • Cheque Printing, Payment Covering Letter

Books

  • Cash Books, Bank Books
  • General Journals Register
  • Purchase Registers, Sales Day Books
  • Sales Tax Returns
  • Debit / Credit Note Register

Ledgers  &  Trial  Balance

  • General Ledger, Sub Ledgers
  • Trial Balance, Party Balances list

Accounts Receivable

  • Outstanding List , Outstanding Ageing Report
  • Reminders to the Customers
  • Confirmation of Balance

Accounts Payable

  • Payable List, Payable Ageing Analysis
  • Confirmation of Balance
  • Query on A/C heads/Parties/Outstanding Bills

Statements

  • Statement of Accounts
  • Bank Reconciliation Statement
  • Receivable Interest Calculation Statement

Statutory  Reports

  • GST Report
  • TDS Annexure
  • Form 16A
  • e-TDS Filing
  • Form 8 and Form 10

Financial  Reports

  • Profit & Loss statement
  • Balance Sheet
  • Cost Centre wise Analysis
  • Cash Flow statement
  • Fund Flow Statement
  • Ratios

MIS  Reports

  • P & L
  • Balance Sheet

The Sales Invoices, Stores Purchase Bills and Debit/Credit Notes data will be automatically updated online from the respective modules after approvals.

1.2 Fixed  Assets  Management

This system handles the Asset addition, retirement and calculation of depreciation. It provides the new assets to be automatically updated on-line from the Purchase, Stores Inventory and Financial Accounting modules. It has the features of providing maximum tax benefits from the depreciation of assets and allows changes and retirements by editing. The other feature is to calculate the depreciation projections for next five years and calculate for user level for IT purpose and Book Purpose separately.

This Module generates the following Reports:

  • Fixed Assets Register
  • Category wise, Purchase Date wise, Department wise
  • Additions List
  • Exception List
  • G/L head wise Depreciation list
  • Depreciation  Statement(s)
  • Depreciation  Projections
  • Depreciation Abstract
  • Profit /Loss on sale of asset
  • Assets Disposal List

1.3 Costing System

The objective of the system would be to calculate the contribution per Metre of Fabric for various  sorts to make Fabric realization statement The system would generate the following reports :

  • Planned Production
  • Contribution Sheet
  • Report based on Sale Rate/Net Rate/Profit
  • Sort wise Contribution sheet Comparison
  • Variance Analysis report

 

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