Accounts and Finance Management

Finance is the backbone of the organization. It not only regulates the function of any organization but also influences and controls budget planning and monitoring. Accurate maintenance and prompt analysis of the financial data is very essential to keep track of the incomes and expenses, so that the allocated budgets would be spent appropriately.
The essence of the financial accounting software is to meet the requirements of the finance department by incorporating the features to organize, maintain and analyze the financial data by gathering ins and outs of money flow. 24x7 ERP diligently processes the financial data, organizes the financial data and attentively monitors the flow of money for better decision making and planning. This module helps in accessing details about all the financial transaction, across all the departments.

Features and benefits

  • Organization Structure
  • Defines Multiple Divisions.
  • Defines multiple location within Division with type of location (Mfg. Location/Depot/Loan Licensee/Principals location).
  • Defines multiple departments within location.
  • Defines multiple Cost centers within departments
  • Defines loan licensee/ Job work location (with complete stock tracking system).
  • General Ledger
    • Define Accounts group.
    • Define Analysis Charts.
    • Multiple accounting periods may be open simultaneously.
    • Enter vouchers on-line.
    • Full multi-currency support in vouchers as per branch currency define.
    • Posting of vouchers in General Ledger and Sub ledgers.
    • Print Payment Advices, Cheques, Debit notes.
    • Debit and credit entries generated by system principal flow based on information entered in the voucher.
    • Current rate calculation of exchange gain/loss for foreign currency transactions.
    • Generate bank books/ cash books / other day books, ledgers and Sub- Ledgers instantly with ultra-fast processing engine.  
    • Generate Cost Allocation and Analysis Reports quickly.
    • Find Account’s position from balance to transactions using drill down reporting available.
    • Generate Closing Entries automatically.
  • Accounts Payables
    • Access comprehensive vendor information.
    • Process vendor’s invoices and book them with on-line matching with G.R.N and P.O. and create Purchase Vouchers.
    • Track quantity and rate deviations with respect to G.R.N. and P.O.
    • Raise Debit notes for rejections.
    • Adjust Debit Notes against invoices.
    • Pay booked Invoices as per due dates and print payment advices and cheques.
    • Adjust Advances, On Account Payments and Debit Notes while making payment.
    • Track payables by Party/Due date.
    • Generate age wise analysis for any period.
    • Find party’s status from balances to transactions using drill down reports.
  • Accounts Receivables
    • Access complete customer information
    • Create sales voucher automatically from sales invoices and generate G/L entries.
    • Create receipt vouchers on settlement of bills
    • Track receivables by Party/Due date.
    • Generate age wise analysis for any period.
    • Send reminder letters for payments due.
    • Track party wise receivables from balances to transactions using drill down reporting.
  • Petty Cash
    • Enter Voucher on-line
    • Print Petty cash voucher and Receipt voucher with advices.
    • Petty cash Analysis Group-wise.
    • Posting of Petty cash in General Ledger.
  • Bank Reconciliation
    • Enter Pass – Book on –line and match with Bank Book.
    • Create commission/interest vouchers while entering pass Book.
    • Generate Bank Reconciliation Statement.
    • Calculate interest for any period.
  • Sales Tax
    • Generate Purchase Register.
    • Generate Sales Register.
    • Track sales Tax Form to be issued.
    • Generate Sales Tax Forms Issue Register.  
    • Track Forms to be received from buyers.
    • Track Sales Tax form to be issued.
    • Generate Sales Tax Summaries (State wise/Party wise/Type of Sales wise).
  • T. D.S.
    • Calculate T.D.S. on Payments.
    • Generate T.D.S. Register.
    • Record Deposits of T.D.S. Challans in bank.
    • Generate and issue T.D.S. Certificates.
    • Generate annual returns.
    • Record T.D.S. on receivables.
    • Track certificates to be received.
  • Financial Statement
    • Generate Balance Sheet monthly/Quarterly/half yearly/yearly and for any period.
    • Generate Balance Sheet and profit and loss compliant to Income Tax Laws.
    • Compare Balance Sheet any period with any period.
  • Fixed Assets
    • Record comprehensive details of each asset.
    • Record additions, transfers and retirement of assets
    • Track assets by asset number, depreciation, location etc.
    • Maintain books of depreciation as per company law as well as Income tax rules
    • Post depreciation entries to General ledger.
    • Capitalize revenue expenditure on assets.
    • Track revaluation of Assets.
  • Fixed Deposits
    • Record receipt of fixed deposits
    • Renew, refund fixed deposits
    • Calculate periodic interest and T.D.S.
    • Generate interest cheque and advices
    • Generate T.D.S. Certificates.
    • Handle brokerage payments

Key Performance Indicator

  • Accounts payable / receivable
  • Cumulative Annual Growth Rate (CAGR).
  • Number of overdue invoices i.e. invoices that have not been paid before their payment date.
  • Number of unsettled i.e. unpaid invoices.
  • Average cycle time (e.g. in days) to resolve invoice errors.
  • Today’s payables & receivables
  • Expecting salary for current month/ reference last month & total paid till this FY year  
  • Total GP till date/ month wise / till this FY - last total year
  • Max sales item group / min sales item group