The
application architecture of Financial
Management System is based on well-established
International Accounting Principles. Financial
Management System is comprised of the
following three sub-systems:
• |
General Ledger (G/L) System and Petty
Cash (P/C) System |
• |
Accounts
Receivable (A/R) and Accounts Payable
(A/P) System |
• |
Fixed Asset
System |
|
| General
Ledger (G/L) And Petty Cash System |
This system controls basic accounting activities
of General Ledger (G/L) handling and Petty
Cash Management. The G/L module handles
activities like chart of account maintenance,
chart of balance maintenance, monthly and
yearly account closing, relevant queries
and reports like Balance Sheet, P&L
Report and G/L Transaction Listing etc.
The Petty Cash (P/C) module allows user
to define and maintain petty cash account
through single entry feature. All petty
cash vouchers transmit to the G/L module
upon posting. The main functionality of
these modules is as follows:
|
| General
Ledger (G/L) Module |
Component wise
detail of this module follows:
• |
Petty
Cash Accounts Definition |
• |
Petty Cash Expense
Entry |
• |
Petty Cash Expense
Post |
• |
Petty Cash Query |
• |
Financial Reports |
|
| Petty
Cash (P/C) Module |
Component wise detail
of this module follows:
• |
Petty
Cash Accounts Definition |
• |
Petty Cash Expense
Entry |
• |
Petty Cash Expense
Post |
• |
Petty Cash Query |
• |
Financial Reports |
|
| Accounts
Receivable (A/R) Module & Accounts Payble
(A/P) System |
This system
controls basic accounting activities of
Accounts Receivable (A/R) and Accounts Payable
(A/P) modules. The
A/R module handles functions like Customer
Information Maintenance. Terms of Payment
Maintenance, Mode of Payment Maintenance,
Customer Invoice entry, Payments against
Invoices through cash/ cash or credit
cards etc. The module also produces reports
of Customers Invoice History, Customer’s
cash receipt analysis and Customer Invoice
Aging etc. At month-end, the module produces
a JV automatically, to reflect the accounting
effect to chart of Balance.
The A/P module handles
functions like Vendor definition, Vendor
Invoice entry, Payments against vendor
invoice through cash/ cheque or credit
cards. The module also produces reports
to list Vendor invoice (open/paid), Payment
to vendor history, Vendor Invoice Aging
etc. At month-end, the module produces
a JV automatically, to reflect the accounting
effects to Chart of Balance.
An outline of above-mentioned
modules along with brief description of
each function is given below:
|
| Accounts
Receivable (A/R) Module |
This module
is integrated with G/L module. It allows
the user to input receivable invoices in
the customer’s ledger. It also provides
facility to define payment schedule for
each invoice with tentative payments date
and related discounts if any. It facilitates
user to receive payments against invoices.
The chart of balance is updated accordingly
through built in interfaces. MIS reports,
including receivable aging, customer statements
and cash flow monitoring are generated.
The main functionality of components is
as follows:
• |
Customer
Maintenance |
• |
Terms Of Payment
Maintenance |
• |
Mode Of Payment
Maintenance |
• |
Credit Limit Maintenance |
• |
Credit manager
& Control |
• |
Customer Invoice
Entry |
• |
Customer Invoice
Adjustment |
• |
Cash Receipt Against
Customer Invoice |
• |
Receipt Through
Cheque Against Customer Invoice |
• |
Customer Statement
Of Account |
• |
Customer Aging
Report |
• |
A/R – General
Ledger Interface |
|
| Accounts
Payble (A/P) Module |
This sub-module is integrated with G/L Module.
It provides database support for functionality
like vendor (supplier) list maintenance,
vendor rating & Classifications. The
payable invoices for each vendor are fed
through this sub-module. The latest payable
balance to each vendor is maintained through
payments processed through this module.
All payments automatically update the accounts
payable and cash on hand account in bank.
All MIS reports including payable aging,
tentative cash requirements and supplier
rating are produced through this module.
The main functionality of components is
as follows:
|
• |
Vendor
Maintenance |
• |
Payable Invoice
Entry |
• |
Payable Invoice
Post |
• |
Payable Invoice
Adjustment |
• |
Payment Through
Cash |
• |
Payment Through
Cheque |
• |
Payment Through
Credit Cards |
• |
Vendor Payment
Aging |
• |
Vendor Payment
History |
• |
Vendor payment
Analysis |
• |
A/P General Ledger
Interface |
|
| Fixed
Asset System |
The Fixed Asset System is capable of handling
distributed databases on different locations
of an organization. The Fixed Asset System
is multi-user, and platform independent.
The functionality of main components forming
the Fixed Asset System follows:
• |
Asset
Identification And Location |
• |
Asset Addition
& Adjustment |
• |
Asset Allocation |
• |
Asset Depreciation |
• |
Asset Salvage Management |
|
Products
