| Financial Management |
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Accounting Setup
- Definition of all the assets, liabilities, income and expenses in US GAAP and Schedule VI mapping format.
- Definition of the usage accounts.
- Control accounts and automatic posting accounts definition.
- Definition of the FBT sections, percentage, FBT rate, surcharge and cess.
- Definition of analysis of type for a set of analysis codes.
Bank/Cash Definition
- Maintenance of bank reference no. along with the corresponding address details and bank clearing number.
- Maintenance of bank book details such as bank code, bank account number, credit limit, drawable limit, over draft amount, effective date for interest rate, interest rate for overdraft balance and interest rate for the credit balance.
- Creation of various cash accounts that is being used by the company.
Financial Book Processing
- Definition of all the initial balances of the assets and liabilities for a given period.
- The data of the legacy system is transferred over here.
- The balances entered in the system can be frozen at a later point of time.
- Balances can be maintained in base as well as transaction currency.
Calendar and Timetable Definition
- Definition of financial, payroll and leave calendar
- Financial Calendar: Financial and process periods are computed based on the frequency of the periods (monthly, half yearly, quarterly and yearly).
- Payroll Calendar: The calendar is generated on the basis of the period unit, maximum and minimum unit, payment frequency and the number of process periods.
- Leave Calendar: The various days of leave that occurs for a company are defined by specifying the from and to date and the particular day in the week.
Account Rule Definition
- Item/Sale Account Definition: Mapping of the stock, WIP, Subcon WIP, sales, sales return, MLT, COGS, consignment sales, stock adjustment and purchase price variance account to the corresponding Item account groups
- Usage Account Definition: Mapping of all the corresponding usage accounts to the corresponding usage ID.
- Bank/Cash Definition: Mapping of all the bank/cash accounts to the corresponding bank/cash ID.
- Payables Account Definition: Mapping of all the payables, deposit and advance account codes to the corresponding supplier groups.
- Receivables Account Definition: Mapping of all the receivables, deposit and advance account codes to the corresponding customer groups.
- TCD Account Definition: Mapping of all the TCD accounts to the corresponding TCD codes (Purchase and Sales).
- TDS Account Definition: Mapping of all the TDS account codes to the corresponding TDS rules that are specified.
- Asset Account Definition: Mapping of the capital WIP, capitalization asset, cumulative depreciation and depreciation accounts to the corresponding asset class code.
Maintain Exchange Rate
- Exchange rate can be defined on a daily basis.
- Facility to view the exchange rate by date.
- The exchange rate from the base to transaction currency can be maintained by specifying tolerance limits or tolerance percentage.
Journal Voucher & Recurring Voucher Template
- Recording of business transactions in the journal books of accounts.
- Can be created with multiple account codes in multiple currencies.
- Calculates the transaction amount in the base currency based on the exchange rate.
- Ensures that the cumulative base amount of all credit account codes tallies with the cumulative base amount of all debit account codes.
- Recurring Voucher Template: Creation of recurring journal vouchers with effective period and posting frequencies, which can be weekly, fortnightly, monthly or a financial period.
Bank, Tax Reconciliation and Document Tracking
- Bank reconciliation.
- Reconcile the account of a bank code for a particular period(monthly, fortnightly, or weekly).
- View reconciliation details of all receipt transactions or payment transaction or both.
- View all reconciled or un-reconciled transactions or both for a bank code.
- Tax Reconciliation.
- Reconcile all the tax related excise invoices for claiming RG23 credit against the corresponding PLA account.
- Document Tracking.
- Tracks all outstanding statutory sales tax concessional forms or TDS certificate that are either to be given to the suppliers or to be collected from the customers.
Financial Calendar Closure
- Allows you to close the financial periods and finance book on a periodic basis.
- Provides for provisional or final closure of the finance book.
- Allows you to view and close pending transactions.
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