FINANCE and ACCOUNTING Module

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FINANCE and ACCOUNTING Module

Access Infotech Pvt. Ltd. Chandigarh, India

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FINANCE and ACCOUNTING

Access Infotech Pvt. Ltd. Chandigarh, India

• The financial accounting module in EBS50 gives you the ability to centrally track financial accounting data within a single framework,

of multiple companies, multiple branches and chart of accounts.

• This module of EBS50 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, Debtor’s Balance, Creditors

Balance, Cash/Bank Fund position and many more are covered in this module.

• EBS50 ‘s financial accounting provides company-wide integration that is essential to strategic decision making.

Process Flow

Access Infotech Pvt. Ltd. Chandigarh, India 3

Transaction Tracking

Generate Day Books Balance Sheet

Form 16A

Depreciation chart

Manufacturing & Training A/C

Profit & Loss Account

Ageing Analysis

Budgetary Analysis

Trial Balance

Generation of Accounts codes

Maintenance of Accounts codes

Opening Balance Transfer during new Financial Year creation

Generation of VOUCHERS

Approval of VOUCHERS

Post Entries in Ledger

Generate Yearly Statements

Generate Monthly Statements

Sale Books

Acct. Summary

Db/Cr Notes

Purchase Reg.

Journals

Ledgers

Cash Books

SV Entry

JV Entry

PV Entry

BV & CV Entry

CV Entry

Credit/Debit Notes

MRN/Inspection of Goods

Budget Heads

Cost Centre Codes

Contra Voucher

Bank Reconciliation

MASTER SETUP SCREENS

► Accounts Main Groups► Accounts Sub groups► Accounts► Party Master► Fixed Assets

Defining blocks as per company’s act Defining blocks as per income tax act Specifying Put to use dates for machinery

► Cost centre master► Budget Heads► Balance Sheet Headings


Main Groups


Namely Assets, Income, Expenditure and Liabilities are specified company wise

User can create subgroups, which will come under the main groups that we have created

Hierarchical subgroups could be defined and could be dynamically added

Account Master


Accounts could be created at any level in the subgroup tree

Linking with party master provided Depreciation for fixed asset accounts could be

specified during account creation Accounts Maintenance at one place. Accessibility By Any Branch Freeze Account At Any Time

Account Setup


ACCOUNTS BALANCES

ACCOUNT

BALANCESACCOUNTS BALANCE TRANSFER

UPDATE ACCOUNT BALANCE

Account Balances


• Enter the Account Balances of each Account (Debit/Credit balance).

• Shows Running balance of each Account. (After voucher transactions)

• Start of new Financial year

• Transfer the closing balances of last financial year in the opening balance of New Year.

• Update Missing Account Balances

Account Masters


PARTY MASTER Party master table stores all the information regarding:

Customer details Shipping address details Payment details.

COST CENTER MASTER Cost Center master keeps record of code and description

of every cost center.

BUDGET MASTER Budget master keeps record of code and description of

various budgets generated

Vouchers


VOUCHERS

BANK VOUCHER

CASH VOUCHER

JOURNAL VOUCHER

PURCHASE VOUCHER

SALE VOUCHER

CREDIT NOTE DEBIT NOTE

Vouchers are used to keep record of all bank transactions, debits, credits, sales, purchase etc in an Organization

Vouchers – In General View


• Voucher modification or deletion is possible only if privileges are given.

• Voucher number is reset every month / daily.

• Voucher printing can be taken at the time of voucher entry when the voucher is saved as well as afterwards.

• Voucher can be modified or deleted if it is not approved, however if the voucher is approved the voucher cannot be updated or deleted.

• If the voucher deletion or updating is done then the log is generated to track the Updation/deletion history containing the user and time.

• If there is sub ledger corresponding to an account in the account master then that can be filled by just clicking the sub ledger button. Sub ledger button is activated as soon as an account with sub ledger is selected.

• Linking of Different cost centers, Budgets, Bill Number, Invoices and Narration. Cost Center Code and Budget Code can be selected at the time of voucher

entry. Based on this The Budgetary Analysis Reports are printed.

Automatic Vouchers – Insertion Settings


The Voucher Insertion Setting helps in connecting the Human Resource module with the Finance Module and automatic

insertion of vouchers

Bank/Cash Vouchers


There are two types of bank /cash vouchers

1. Bank / Cash payment

2. Bank / Cash receipt.Debit and Credit Balances are checked before Saving the Voucher

Journal Vouchers are primarily used for fund transfers and corrections. Many central offices process JVs. Transfers from one account to another are done via JV, including revenue, deficit and

expenditure transfers. Write-offs from closing budgets are also done via JV.

Debit and Credit Balances are checked before Saving the Voucher

Journal Vouchers

Contra Vouchers


A Contra voucher entry is a transaction involving transfer of cash between one Cash A/c to another or one Cash A/c to another Bank A/c. i.e., is a transaction indicating transfer of funds from:

• Cash account to Cash account

• Cash account to Bank account

• Bank account to Cash account

• Bank account to Bank account

Debit and Credit Balances are checked before Saving the Voucher

Purchase Vouchers


Purchase voucher can be posted against the MRN and the bill No’ is visible on PV insertion screen.

Debit and Credit Balances are checked before Saving the Voucher.

Sale voucher is entered against the invoice generated by sales department. All Receivable through sales are entered

through SV.Debit and Credit Balances are checked before Saving the Voucher

Sales Vouchers

Credit Notes


Debit Notes

Debit Note Voucher insertion from Finance

Material Debit note generation from Rejection Challan

Credit Note Voucher insertion from Finance

The seller usually issues a Credit Memo for the same or lower amount than the invoice, and then repays the money

AUTOMATIC SALARY VOUCHAR INSERTION SETTING


This helps in connecting the Human Resource module with the Finance Module and automatic insertion of vouchers


This screen is used to pass/approve the bills or vouchers posted.

Approved Vouchers cannot be modified or deleted.

While approving the vouchers the user can see the details.

Voucher Approval


Process Diagram - Accounting

ACCOUNTS

VOUCHER APPROVAL

ACCOUNTS RECEIVABLE

ACCOUNTS PAYABLE


Account Receivables

Payment received From Party

• Against Outstanding Invoices.

• Against Security Deposits.

• Against Advance Receipts.

Adjustment while receiving payment

• Creation of Cash or Bank Voucher Automatically.


Account Payable

Payments are made

• For the material received

• For the services.

Adjustment while receiving payment

• Creation of Cash or Bank Voucher Automatically.


Search Account Detail


Supplementary Bill Passing

Supplementary bill passing screen is used to approve all those bill raised by suppliers due to rate changes or due to some other

reason of differences in rates.

This screen provide the facility to raise the PV for MRN in a date range supplier wise.


Depreciation

INCOME TAX ACT COMPANY LAW ACT

DEPRECIATION


Fixed Assets Management

Depreciation of fixed assets is calculated by Two Methods

Income Tax Act

• Under Income Tax act first the Blocks are created and attached at the time of Account creation

Company Law Act

• Under company law act the depreciation calculated

1. Asset wise

2 Block wise

Put To Use Screen

• Fixed Asset register bearing serial no details

• Fixed asset register updated automatically during material receipt


Bank ReconciliationA Bank reconciliation is a process that explains the difference between the bank balance shown in an organization's bank statement, as supplied by the bank, and the corresponding amount shown in the organization's own accounting records at a particular point in time.

EBS 50 Provide the facility for the Bank Reconciliation.

RECONCILIATION

BANK STATEMENT BANK RECONCILIATION


Day Books Generation

► VOUCHERS► LEDGER

Two type of ledger ► Simple ledger ► Drill down ledger

Ledger can be printed for the period i.e. with in the date range. Ledger can be printed for both

► Approved Vouchers► Unapproved Vouchers.

Ledger can be printed for both ► Single Account► All the Accounts / subgroup wise

The ledger report can be saved in a text file by specifying the destination name.

Drill down ledger report the user can see the voucher details


Day Books Generation

► Cash Book Report Shows all the cash transactions on a particular date. Two type of cash book report is printed.

► Simple cash book report.► Drill down cashbook report

Drill down cashbook report user can see the voucher details corresponding to each transaction.

► Debit Note Register► Credit note register► Journal


Monthly Statement Generation

► Trial balance Trial balance reports

►Company wise►Consolidated

Trial balance can be printed with in the date range. Following types of trial balance are printed.

►Drill down trial balance.►Trial balance account wise drill down►Trial balance summary.

Any difference in the debit and credit is printed at the end of trial balance.

Trial bearing details of op bal, debit amt, credit amt, closing could also be generated


Monthly Statement Generation► Ageing analysis

Separate analysis for local and export bills. Two type of ageing analysis

►Ageing analysis slab wise show all the details of bills pending in the slab

► 1-30 days► 30-45 days ►45-60 days ►Up to 120 days.

Ageing analysis month wise►Show all the details of bills pending for the last six

months Creditor outstanding Debtor outstanding

► Budgetary Analysis Report Show details of the budget allocated to every budget head.


YEARLY REPORTS► Trading and P/L account

Printed at the end of the year ► Balance sheet

Printed at the end of the year Can be printed by merging the data of various companies Can be printed for each company

►Separately►Cumulative balance sheet.

► Depreciation Analysis Depreciation of fixed assets is calculated at the end of the year. Depreciation is calculated under

► Income tax act ►Company law act.

► TDS quarterly returns / Form 16a Certificate of deduction of tax at source under section 203 of income –

tax act, 1961.

Excel redirection for Major MIS reports available


TRANSACTION REPORTS

► Vouchers• Bank Vouchers• Cash Vouchers• Journal Vouchers• Contra Vouchers• Purchase Vouchers• Sale Vouchers• Debit Note• Credit Note• Cash Receipt


TRANSACTION REPORTS

• Ledger• Drill Down Ledger• Annual Ledger Report• Day Book Reports• Journal Register• Journal Register Detail• Sale Register• Debit Note Register• Credit Note Register• Purchase Register Account Head Wise


TRANSACTION REPORTSTrial Balance

•Trial Balance Account Wise Drill Down

•Trial Balance Account Wise (Control Account wise)

•Trial Balance Summary

•Trial Balance Summary

•Date Range Trial Balance Summary

•Trial Balance without Open/Cr/Dr

•Trial Balance with Open/Cr/Dr

•Opening Trial Balance

• Trial opening Account wise

• Trial Opening Subgroup wise


TRANSACTION REPORTS

► Bank and Cash Reports• Bank Book• Cash Book• Cash Flow Reports

•Cash Flow summary

•Cash Flow (Month Wise)

•Cash Daily Summary

•Cash Monthly Summary


TRANSACTION REPORTS

• Bank Reconciliation Report

• Ageing Report – Slab Wise

• Actual expense Report

• Fixed Assets Register

• Balance Sheet

• Profit and Loss Accounts

• Daily Data Entry

• Daily Day Book

• Daily Day Book – Voucher Date Wise


TAX REPORTS

• RG 23A Part1• RG 23A Part2• RG 23C Part1• RG 23C Part2• ER 6• Form ER1• Form1 – CST• LP1• LS1• Daily Stock Account• Purchase Under VAT – Within State• Sales Tax Return• VAT XV A


TRANSACTION TRACKING

• A/C Balance Differences• Voucher Differences• Trial Mismatch Report• Pending Forms – Receivable• Pending Forms - Sent

VAT Reports

• Form VAT 15 and 16• Form VAT 18 and 19• Form VAT 23 and 24• Form VAT 29

The financial module is the core of the ERP software systems. It can gather financial data from various functional departments, and generates valuable

financial reports such balance sheet, general ledger, trail balance, and financial statements.

We provide complete control over accounting and management reporting within a full multi-

company structure.



THANK YOU

Access Infotech Pvt. Ltd. SCO 64-65, 4th Floor, Sector 34-A, Chandigarh

Phone: 0172-5002677, 5025577 TeleFax: 0172-2622571E-mail - [email protected]

www.accessinfotechindia.com

FINANCE and ACCOUNTING Module

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Transcript of FINANCE and ACCOUNTING Module