Integrated finance and accounting system
<p>Capability to define the chart of accounts in the system based on Clients pre-defined requirements</p><h2>Transaction Processing</h2><p>Capability to update or add descriptions at line level and at journal level</p><p>Capability to view account balances in multiple dimensions such as department and cost center</p><p>Capability to Update account balances when transactions are recorded in sub-ledgers using Online (Real-time) processing</p><p>Capability to enter journal with unlimited number of lines</p><p>Capability to selectively prevent manual journal entries to control accounts (Entries should be routed through sub-ledgers to control account)</p><p>Capability to have provision for Different approvals / Authorization levels for different transaction type / Value</p><p>Capability to send an electronic notification to approver on pending approvals and to initiator on approval or rejection</p><p>Capability to hierarchical and dynamic workflows</p><p>Capability to have different recurring to automatically post based on the pre-defined schedule</p><p>Capability to create vouchers from existing vouchers</p><h2>Month-end / Year-end Processing</h2><p>Capability to perform year end closing by closing income and expenditure balances</p><p>Capability to generate Trial Balance by department, branches, regions, and at Head Office Level</p><p>Capability to generate Financial Statements by branches and at Head Office Level</p><p>Capability to generate financial statements period to date, Quarter to date, Year to date etc.</p><p>Capability to provide provision for soft close and hard close ( e.g. system should provide provision for at least one extra period for year-end closing)</p><h2>Budget & Integration</h2><p>Capability of the system to have full real-time integration between all modules</p><p>Capability to Prepare Multiple budgets wherein which Actual can be compared to various budgets set</p><p>Capability to prepare separate Budget for Capital and Operational Expenditure</p><p>Capability to perform Expense Analysis - Department Wise, Brach, region wise /Consolidated. Current month/YTD/Prev YTD comparisons with Budgets</p><p>Capability to review budget balances online and through reports</p><p>Capability to maintain revisions made to the budget</p>
<p>Capability to maintain the following information per vendor, Vendor code, Vendor name, Multiple Contact name, Multiple Vendor address, P.O. Box, E-mail address (Multiple), Phone number (multiple), Fax number, Default payment / credit term & Active / inactive flag and Default delivery options</p><h2>Invoice Entry</h2><p>Capability to enter invoices against Purchase Orders (Local and Foreign), Contracts, receipts, etc</p><p>Capability to create recurring invoices</p><p>Capability to create Debit and Credit note to vendors and apply against invoices</p><p>Capability to have approval hierarchy for processing of invoices and payments</p><p>Capability to track assets related information while recording the invoice and later on transfer to the assets module</p><p>When there is an invoice towards incidental charges such as freight, customs or insurance which is related to a consignment received, the system should be able to allow the users to match these invoices to the respective GRN or Purchase Order reference.</p><h2>Payment Processing</h2><p>Capability to support following payment types: Cheque (printed or hand-written), Cash, Credit/Debit Card, Bank guarantee/ Letter of Credit, Pay order</p><h2>Bank Transfer</h2><p>Capability to make advance to suppliers and record and adjust against future invoices</p><p>Capability to make partial payments to vendors</p><p>Capability to generate Bank transfer letters with Vendor bank A/C number and Bank Branch details</p><p>Capability to be able to manage post-date cheques (PDC management)</p><p>Capability to have custom check layouts for each disbursing bank</p><h2>Retention Money Control & Reports</h2><p>Capability to query on total retention for a particular vendor</p><p>Capability to print report showing retention amount, outstanding payment due and total payment for invoices with retention</p><p>Capability to generate report on payments made account-wise, transaction-type wise etc</p>
<h2>Billing</h2><p>Capability to create single invoice against sales</p><p>Capability to setup pre-defined billing rules in-line with long-term contracts with customers</p><p>Capability to setup pre-defined limits for each customer</p><p>Capability to default all customer related information when selected for transaction processing from the customer master</p><p>Capability to automatically generate bills based on pre-defined billing rules</p><p>Capability to net payable and receivable invoices from same party acting as a customer and vendor</p><p>Capability to raise invoice(s) to the customer with adjusted values from the Advance received</p><p>Capability to override default receivable terms while entering invoices</p><p>Capability to raise Invoice(s) based on recurring Charges</p><p>Capability to record adjustments to invoices and post to customer accounts 79 Capability to post debit/credit note to customer accounts</p><h2>Collections/Receipts Processing</h2><p>Capability to support following receipt methods Cash, Cheque, Bank Transfer, Pay Order and Bank Guarantee</p><p>Capability to generate receipts for all type of payments</p><p>Capability to raise Advance Invoices</p><p>Capability to record amount of security deposit and purpose for deposit. Security deposit should be independent of the customer balances. Should be able to print the security deposit information by various customers</p><p>Capability to record advance receipts against order</p><p>Capability of POS for collection of fees / payments</p><h2>Reports</h2><p>Capability to generate report on PTD/YTD cash receipts</p><p>Capability to generate statement of account PTD with opening balances carried forward from the previous period, showing movements during the current period with the ending balance finally (Statement of account should be like bank statements)</p>
<p>Capability to create Cash Forecast template short term & long term including but not restricted to</p><p>Opening balance for various bank accounts</p><p>Cash Flow Statements</p><h2>Bank Reconciliation</h2><p>Capability to perform electronic bank reconciliation. Capability to upload bank statement softcopy into the system</p><p>Capability to manually enter the following reconciling items:</p><p>Bank charges</p><p>Bank interests</p><p>Other miscellaneous transactions that appears on the bank statement</p><p>Capability to search available transactions using various search criteria</p><p>Transaction type</p><p>Reference number</p><p>Amount</p><p>Transaction date</p><p>Transaction description</p><h2>Reports</h2><p>Print bank reconciliation report reconciled, unreconciled as per bank statement</p><p>Print transactions available for reconciliation report</p><p>Generate bank reconciliation statement showing balances as per books and bank with the receipts in transit and payments not cleared in detail as well as in summary</p><p>Print bank reconciliation statement as of a historical date with the statement showing unreconciled lines as of that period</p><p>Produce cash transactions and balance report for user selected accounts and date range</p>
Automate bank charges to pass entries
Automated passage of project based provision entries
Bank accounts, finance CC and BG limits
Bank guarantees creation, tracking automation with banks and clients
Banks transfer creation, processing and integration to bills
Bill wise payment and recovery integration
Cash and Bank Reconciliation process
Centralized transaction gateway park
Company directors, ROC matters, resolutions & legal cases
Company Documents - Tax IDs, PF reg IDs, certificates, bank cards, device Info, Backups etc
Company investors, physical assets and financial reports
Configure and compute IT & inadmissible expenditure
Configure cheques and control PDCs, status, tracking and printing
Defining multiple taxation & integration to all processes
Flat depreciation configuration & automate accounting
Fully integrated payroll with earnings/ deductions and bank transfers
Generate notes to annual reports to straight print from system
Integration to IT and Company Acts for depreciation netblocks
Invoice custody and handover process
Journals, payments, receipts and machine guided transactions
Letter of credit creation and automation with banks and vendors
Managing transactions, groups, accounts & cost centers
Multi dimensional Trial Balance with project accounting
Multi-Tax and multi-authority input/output automated returns
Opening Balances integration
Order based vendor advances and integration to bills
Pay Orders Payment Priorities
Petty cash account, payments and replenishments
PF Challans preparation automation and submission
Prepaid expenses booking automation
Self auditing process
TDS Config slab rates, capture data & generate returns
Preparing your workspace...