Financial Accounting System is a comprehensive online double entry book keeping system. The Financial Accounting system has a provision of managing General Ledger, Account Receivable and Account Payable. The system will have facility to maintain balances for any period – Ledger head wise, party wise and schedule wise. The System will have the functionality to prepare vouchers like Receipts, Payments, Journal, and Debit & Credit Notes with approval option of the above vouchers.
The Sales Invoices, Stores Purchase Bills and Debit/Credit Notes data will be automatically updated online from the respective modules after approvals.
This system handles the Asset addition, retirement and calculation of depreciation. It provides the new assets to be automatically updated on-line from the Purchase, Stores Inventory and Financial Accounting modules. It has the features of providing maximum tax benefits from the depreciation of assets and allows changes and retirements by editing. The other feature is to calculate the depreciation projections for next five years and calculate for user level for IT purpose and Book Purpose separately.