Funds manipulations for a concern are important factor and some times it is treated as blood for an organization. So in this regard, sources of funds and application of funds are to be taken care of, by defining Balance sheets, Schedules, General and Sub-Ledger, party and customer masters etc. All this and much more is done through the Accounts Module of FINSYS. It serves as the Decision Support System for the Management, by providing them with various relevant reports depicting the Financial implications of a particular action, hence enabling them with a tool to guide their future action.
An ERP (enterprise resource planning) Accounts module is a software program that gathers financial data and generates reports such as ledgers, trail balance data, overall balance sheets and quarterly financial statements.
Why Accounts Module?
All kind of organizations small , large benefit from the implementation of ERP Accounts module. The Accounts module is the core of many ERP software systems. It can gather financial data from various functional departments, and generates valuable financial reports such general ledger, trail balance, as balance sheet and quarterly financial statements.
This module of the ERP software will take care of all accounts related entries and their impact on the whole system. How the finance comes and how it is been utilized. Total flow of money (Cash/Bank) and total expenditures will be reflected here. As an after effect of this, the management will be able to take their important financial decision, Budgeting etc. They can come to know about company’s financial position at any point of time. All sorts of important financial reports i.e. Trial Balance, Trading A/c, Profit & Loss A/c, Balance Sheet, Debtors Balance, Creditors Balance, Cash/Bank Fund position and many more are covered in this module.
The Accounting Module is completely Transaction based unlike journal based. This implies most of the accounting functions are handled through relevant transactions in other Modules there by saving lot of time. The Module contains complete functionality required for any Accounting Department right from vouchers to the Balance Sheet and Profit and Loss Account.
Budgeting and Variance Analysis between Budgeted and Actual figures helps in controlling the Enterprise Expenses and Income efficiently. The Module also includes Cost Centers, which is completely flexible in terms of defining Cost Centers and their components. Cost Allocations for General Overheads can also be done on a predefined basis and required outputs could be generated for analysis purposes. Outstanding of Payables and Receivables with Ageing Analysis of both debtors and creditors are some the features of this module. Overall the module takes care of complete functions of any Accounting department.
The function of this module starts with accounts creation. External departments like marketing or purchase will create some of those accounts. Apart from regular voucher entries this module will help the authority as well as other departments by providing financial figures. Final accounts will be generated from this module. Documents like Receivable and Payable statements are generated from this module. This module bridges between Sales & Procurement processes. All figures will be protected under password. Only authorized person will be eligible to access information from this module.