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
