Company Branch & Location Creation – Multi company concept
Account Group Creation – n level of grouping allowed
Chart of accounts
Sub Account Heads
Cost Center – n level of cost centers
Voucher:
- Multiple entries of one ledger account in single voucher
- Entries of one ledger account with multiple sub accounts in single voucher
- Multiple cheque no & cheque date in single voucher
- Multiple narration in single voucher
- Auto reverse voucher facility
- Deferred adjustment of prepaid amounts
- Recursive vouchers
- Three options for voucher posting, Save, Save & Post and Save, Validate & Post.
Ledger
This module facilitates the user to view ledger by account group and account head details between any two dates for the current financial year as well as the previous financial year. As mentioned earlier the details are maintained in multi currency wherever such transactions take place.
The user has the option to see the transactions in various formats. Such as entered voucher amounts, validated or posted voucher amounts. The details can also be printed.
Bank Book
This module facilitates the user to view the bank book details for all banking transactions during the current financial year as well as the previous financial year until it is open. As mentioned earlier the details are maintained in multi currency wherever such transactions take place.
The user has the option to see the transactions in various formats. Such as entered voucher amounts, validated or posted voucher amounts. A search facility is also provided based on the account head to locate the entries. The details can also be printed.
Day Book
A day book is provided to view all the vouchers during the day for any time period during the current financial year and the previous financial until it is open. The user has the option to see the transactions in various formats. Such as entered voucher amounts, validated or posted voucher amounts. User can search for the vouchers based on the Voucher date, Voucher number, or voucher type. The details can also be printed.
Cash Book
This module facilitates the user to view the cash book details for all banking transactions during the current financial year for the current financial year as well as the previous financial year until it is open. As mentioned earlier the details are maintained in multi currency wherever such transactions take place. The user has the option to view entered, validated & posted vouchers. The user can search for the vouchers based on the account head.
Voucher Book
The voucher book is provided for ready referral of the vouchers for a date range, other than Cash and Bank.
Trial Balance
The system has the provision to view the trial balance for a given period at any time. The user has the option to view the trial balance by ledger account head or account group and with or without opening balances. Trial Balance also allows the user the drill down functionality upto the voucher level
Use also has the search facility to locate a particular account based on the account head. The trial balance can be printed directly from this screen.
Balance Sheet
The system provides the facility to view the balance sheet on any date. One can view the balance sheet upto three levels of group details. The user can drill down right upto the voucher level from any group or ledger account. The system has the provision to display previous year’s balances as well. The balance sheet designed is as per schedule 6 of the Companies Act.
The user also has the option of viewing the balance sheet as on a given date in both the horizontal and vertical format. The user can get a print out of the balance sheet right from here using the print button. While printing a balance sheet the user can also print the schedules and annexures. Before printing a document the system provides a print preview facility and a choice for the user to print the document with or without certain fields. The user can drill down to the voucher level from the balance sheet.
Profit and Loss statement
This module is designed to view the statement of Profits and Losses along with details of Income and expenditure (by account group and ledger account head) up to three levels of grouping. The user can view previous year’s balances also in the profit and loss statement. The P & L statement also allows the user the drill down functionality upto the voucher level.
The user can also print the P & L statement from this form directly.
Profit and Loss comparison statement
This module will allow user to compare profit and loss between any 2 sets of user defined date ranges.
Budgeting
Budgeting is a very crucial process in business operations. Budgeting is done to keep a check over the amount to be invested or spent in a particular account head or account group. Before arriving at the final budgeted figure the user has the option to keep track of the requested amount and provided amount at a different level of management. In the budgeting module the amount can
be allocated to a particular account head, account group or cost center "quarterly, monthly or annually". The user has the option to check for the budgeted amount at the time of voucher entry as a rule or warning while defining the budgets. If it were a rule the system would not allow the limit to be exceeded while entering the voucher. If it is marked as a warning the system will allow the transaction to take place after giving a message. The budget allocation can be viewed in two ways
- Ledgers by Cost Centers
- Ledgers without Cost Centers
Bank Reconciliation
In this module the user can reconcile its bank accounts with the bank statements. Here the user can see the list of cheques presented but not cleared, cheques issued but not presented, balance as per bank and balance as per the accounts. If Banks provide their statements in electronic form, automatic reconciliation interface can be developed.
User can print the reconciled statement directly from this module.
Opening Balance
This module facilitates the user to enter the opening balance while setting up the system for the first time or view the opening balance as on beginning of the financial year.
User can print the opening balances directly from this form.
Month Closing
System has a provision to use Month-Closing concept. User can close any month that is in the open financial year and is not the current month as long as there are no unposted vouchers for that month in the system. Once a month is closed, no transaction is allowed to be entered.
Year End Closing
User has two ways to close a financial year and proceed with the new financial year:
1. The system will create a journal voucher entry of the closing balances & transfer profits / losses during the year to the predefined P & L Account and create the net opening balances in the next financial year.
2. The system can transfer profits / losses during the year to the predefined P & L Account without creating a JV and carry forward the net balances onto the next financial year.
The user will have to define the above procedures of year-end closing in the parameters while setting up the system.
System allows the user to keep the previous financial year open until some time in the future for audit purposes and freeze the same after audit is completed. This means that the user can go back to the previous financial year during the period it is open and make JV entries or adjustments as required and come back to the current financial year. On getting back to the current financial year the opening balances will be updated accordingly. |
