Accounting is a means by which necessary financial information about business enterprise is communicated and is also called the language of business. Many users need financial information in order to make important decisions. These users can be divided into two broad categories: internal users and external users.
Accounting is the system of recording financial transactions with both numbers and text in the form of financial statements.It provides an essential tool for billing customers, keeping track of assets and liabilities (debts), determining profitability, and tracking the flow of cash.
The system is largely self-regulated and designed for the users of financial information, who are referred to as stakeholders: business owners, lenders, employees, managers, customers, and others. Stakeholders utilize financial statements to help make business, lending, and investment decisions.
It provides the position of the business at any given point of time,It helps in bank reconcilation, as all the transactions pretaining to a bank account are recorded in one place.It helps auditors in understanding about the transaction taking place in the business.
Cash & Bank Management
In our ERP, bank account allows you to quickly and easily transfer money between accounts. ERP systems can help you keep track of your budget. ERP allows you to keep your banking organized and streamlined. You can access your account information from any computer or mobile device with internet access.Cash management module provides information relating to cash flow of the organization, by processing and analyzing all cash and bank transactions, arising out of payment of supplier’s invoices, receipt from sales invoices, standalone payment and unallocated payment/receipts.
Fixed Assets Management in our ERP Software Simplify the management of your fixed assets with a virtual function, eliminating the need for repetitive manual data entry. It provides business owners with clarity regarding the current status of their fixed assets and helps them make the right decisions in asset purchases and disposals.
In our accounting module, include current assets that improved working capital, increased liquidity, and the ability to survive market disruptions. It indicates the short term financial health of a company as they provide information about the amount of cash available with the company to meet the financial responsibilities. These represent how continuous day to day operations are being funded. It gives stakeholders a clear view of the firm’s liquidity.
Records all the financial transactions of a business in one place on a time and date basic.The transactions are recorded, in support of a bill, to check the authenticity of each of these journel entries with their bills.All the opening journel entries, and all other transactions which cannot be recorded in any other subsidiary bookscan be recordin the journel proper.
By containing amortization entry in our accounting module, it helps businesses and investors understand and forecast their costs over time. In the context of loan repayment, amortization schedules provide clarity into what portion of a loan payment consists of interest versus principal. This can be useful for purposes such as deducting interest payments for tax purposes. It is also useful for future planning to understand what a company's future debt balance will be in the future after a series of payments have already been made.
Asset value can be written off completely.It helps in tax reduction.It helps in valuation of the asset.And It is also a tool to help you achieve a cleaner picture of your long-term expenses and calculate your business true net income.
Receipt & Payment
It is through this account that the total payments and total receipts are easily available in the same place.This account also has a feature which helps in recording transaction in one year even if the transaction made is of a past year, current year or a future period.
Profit & Loss Statement
It can help you determine your business's overall financial standing.Profit and loss account gives the actual information about net profit or net loss of the business for an accounting period.
So, it is very useful to know the financial condition of the firm.
Ability to transfer account from special accounts to other bank accounts.
Ability to make payments from a special account to other account.
Keeping a good and accurate record of the capital accounts of each of the owners of the business is vitally important to the continued operation of the bus
Is is also important to the continued operation of the business.
It is also important if the business is coming to an end.
Debit Note can be can provide information regarding on upcoming invoice or serve as a reminder for funds currently due.
When the supplier keeps the original debit note.This turns into the supplier's record from which a credit note might be issued.
When the supplier sends the credit note, it is compared to the copied debit note that is still kept in the debit notebook.
Error can be recorded earlier and build a good relationship with clients.
And Improve business operational performances.
Business avoid the possibility of conflict.
Inter Account Transfer
It is so flexible and convenient way to transfer money from one bank account to another.You can use this anytime, anywhere with just one click.And this payment method is
customer-friendly.This method is increasingly popular with customers worldwide.
Chart of Account
It allows you to break down all the transactions that your business made during a specific period into different subcategories.By separating out your revenue, liabilities, assets, and business expenditures, a chart of accounts enables you to gain insight into the effectiveness of different area of your business.
For larger companies,accounting reports are also important for presenting the company's financial condition to shareholders,so they know what happening within the company.These reports provide insights into the financial status of a company and the results of its recent operations.In our accounting module, containing report features helps your business make reporting easier and more customizable, fit to meet all of your needs. And Create standard or customized reports from real-time data to improve your business planning and audit review processes. This improves productivity, completes process faster and helps to close out projects without large wait times in between.