Finance & Accounting
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Finance & Accounts
The Finance and Accounts module in ERP plays a crucial role in business operations by providing real-time insights into the company’s financial health. It streamlines key tasks such as tracking Accounts Payable and Accounts Receivable, automating billing, payments, and account reconciliation. Additionally, the module generates comprehensive financial reports, including profit and loss statements, helping businesses make informed financial decisions.
Financial Analysis
The Finance and Accounts module offers a comprehensive view of the organization’s financial status, with all key information easily accessible through an intuitive dashboard.
Every financial transaction is securely recorded and stored on a centralized server, ensuring real-time data availability across the organization. The module retrieves this data to generate detailed analytical reports.
These reports are presented in a clear, user-friendly format, enabling the management team to interpret financial insights effectively and take informed actions. Financial analysis remains a core function of this module, supporting strategic decision-making and overall business growth.
Billing and Invoice
The Finance and Accounts module automates billing and invoice generation, ensuring accuracy in calculations and eliminating costly errors. Bills are generated in a standardized format, reducing manual effort and ensuring compliance.
All invoices are digitally stored in a centralized system, making them easily accessible to authorized users. Each client or customer’s invoices are organized in dedicated folders to prevent misplacement and enhance traceability.
Digital storage significantly reduces the dependency on paper, leading to lower operational costs and improved efficiency. Additionally, invoices generated in foreign currencies are automatically converted to the local currency for better clarity and financial management.
Ledger, AP, & AR Management
Ledger management becomes seamless with the Finance and Accounts module, as all transactions are automatically recorded in the General Ledger (GL). The GL captures complete transaction details, including date and time stamps, ensuring transparency and traceability.
Accounts Payable handles all outstanding payments the business owes to vendors or investors. It simplifies cash flow management and maintains accurate financial records, enabling quick processing of vendor invoices and reducing payment delays.
Accounts Receivable tracks the funds owed by customers to the business. It manages customer invoices, outstanding balances, and incoming payments. Automation in Accounts Receivable accelerates the collection process and enhances payment convenience, contributing to better cash flow and financial control.
Taxation
The Taxation feature within the Finance and Accounts module ensures seamless compliance with local and international tax regulations. It automates tax calculation, application, and reporting, reducing manual errors and saving valuable time.
Key Capabilities:
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Automated Tax Calculation: Taxes such as GST, VAT, TDS, and other applicable levies are automatically calculated based on predefined rules and transaction types.
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Multi-Tax Handling: Supports multiple tax structures and rates across different regions and product categories.
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Real-Time Tax Reports: Generates detailed tax reports, including input and output tax summaries, return filings, and audit-ready documentation.
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Tax Filing Integration: Easily integrates with government tax portals for automated or semi-automated return filing.
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Compliance Alerts: Notifies the accounting team about due dates, regulatory changes, and compliance requirements.
Banking Processes
Receipts & Payments Management with Bank Reconciliation
Easily manage all incoming and outgoing transactions with automated bank statement reconciliation, ensuring accuracy and reducing manual effort.
Banking Dashboards
Gain complete control over all banking activities through real-time dashboards that offer insights into transactions, balances, and cash flow.
Cheque Management & Electronic Fund Transfers
Streamline payment processes with efficient cheque handling and secure electronic fund transfer capabilities.
Term Loan Tracking
Monitor and manage term loans effortlessly, including repayment schedules, interest calculations, and outstanding balances.
Costing
The Finance & Accounts module allows businesses to calculate production costs with high precision by applying vertical-specific (industry-specific) and customer-specific costing methods. This means the system adapts its cost calculation logic based on the unique needs of the industry—whether it’s manufacturing, retail, or services—and can also be customized to reflect pricing agreements, production complexity, or service-level expectations for individual customers.
The module supports the automated classification and allocation of fixed costs (e.g., rent, salaries, depreciation) and variable costs (e.g., raw materials, utilities, labor per unit) based on recognized industry standards.
This feature enables businesses to:
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Accurately track and manage operational expenses
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Perform detailed cost analysis and control
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Identify areas to optimize spending
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Calculate break-even points and profit margins effectively
By allocating costs correctly, businesses gain deeper insight into their financial performance and are empowered to make data-driven budgeting and investment decisions.
Fixed Assets
Comprehensive Asset Sale, Purchase, and Movement Tracking
Track the complete lifecycle of assets—from acquisition to disposal. The Finance & Accounts module enables detailed monitoring of asset purchases, sales, transfers between departments or locations, and asset write-offs. Every transaction is recorded with timestamps, ensuring full traceability and audit readiness.
Automated Depreciation Calculation as per Income Tax and Company Law
The system automates depreciation calculations in compliance with both Income Tax Act and Company Law requirements. It supports both Written Down Value (WDV) and Straight Line Method (SLM), allowing businesses to choose the appropriate method based on statutory guidelines or internal policies.
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