Finance - Module Overview

The finance module offers following functionality to users

• Definition or set-up of accounting structure. This consists of multi-level grouping of accounts, GL    and SL heads, and sub-codes.

• Cash and bank entries with booking of account heads and information of cost centers, cash    parties, employees, and additional details that are specific to account heads. The entries may be    cross-referenced (adjusted) with other accounting entries.

• Credit and debit notes made because of rejections, short supplies, rate differences, sales    promotions, and so on.

• Reporting covering books of accounts, TB, P&L, BS, AR, AP, aging, expense analysis, fund flow and    financial MIS.

• Definition of asset groups and assets, calculation of depreciation (income tax, company law, and    MIS purpose), generation of asset card, asset register, and location-wise reporting of assets on    hand.

• Definition of budgets for account heads and budgetary controls. Consumption budgets are    covered under materials management module and sales targets are covered under sales module.    Reporting covers budget versus actual and variance.

• Cheque series based control

• Bank reconciliation

• Procedures and reporting related to import, export, insurance, and banking. This covers for DEPB,    LC, CT3, forward cover, interest calculation and so on.

• Integration with sales and purchase bills and payroll. The purchase bill booking and invoicing is    discussed under purchase (materials management) and sales systems respectively.

• Procedures and reporting related sales tax, income tax, insurance, banking, currency loss / gain,    and Octroi.