Finance & Accounting Module

  1. Invoices of fund revenues with receipt follow-ups, refunds and recurring options. Auto journal entries with invoices and payments. Inform the funder through single click email. System give alerts and email notifications for due and overdue invoices. Different reports like details of outstanding invoices, Funder ledgers, Balances report, Ageing analysis of receivables, Tax reports.
  2. Invoices of purchase and expense as per allocated budget for specific head. System gives warning if amount is increasing from allocated budget. Refund and recurring purchase or expense options. Auto journal entries with invoices and payments. Each invoice should be approved through an approval workflow process. Maintain history of foreign currency rates used for the purchase of imported items.
  3. Manage chart of accounts and manual journal entries.
  4. Cashbook, bank statements, reconciliation.
  5. Organization can take loan and can give loan to internal employees, regional offices and external organizations with easy management of payments or receipts instalments and interest rates. System give alerts and email notifications for due and overdue instalments.

All financial reports include:

  • Income statement
  • Balance sheet
  • Trial Balance
  • Cash flow statement
  • Executive summary
  • Budget Vs Actual
  • General Ledger, Stakeholder Ledger, Project Ledger, Account Ledger
  • Tax reports
  • Bank Reconciliation Statement
  • Loan and investments reports

 1.Investment Module:

The Investment module should be integrated with the Financial Management System (FMS) to automate the complete cycle of making investment i.e. term deposit (TDRs) in profit calculation on investments, accounting, maturity and renewal of investments.

This module should have the following features:

  • Facility to record financial investment i.e. TDR, COD, Mutual fund, etc. in different banks containing investment amount, maturity date, profit rate, profit terms and other parameters.
  • Facility to compute profit, and post the corresponding accounting voucher in the Accounting System for fund management
  • Facility to distribute profit amount among the members on the basis of formula devised by the management.
  • Facility to record maturity and renewal of investment.
  • Facility to terminate the investment.
  • Facility to record any financial charges, taxes levied on the investment and posting of these effects in the accounting system.

2.Budgeting Module:

  • Facility of different types of budget like Operation and development budgets.
  • Budget can be defined for organization, departments, regional offices, projects etc.
  • Create multiple budget lines and link it with chart of accounts.
  • Carry forwarding of budget to next budget year and current Budget revision functionality.
  • Budget should be integrated with accounts and procurement modules.
  • Different budget reports like budget vs actual etc.

Fixed Assets Module:

This module maintains complete record of all assets owned by the UoM and records the movement of these assets from one department to the other and from one location to other. The system also calculates year-end depreciation and determines the written down value (WDV), at the time of disposal to calculate the gain/ loss on disposal of assets. The salient features are given below:

  • Maintain comprehensive database of assets using multi-level asset codes for analysing group and detail level information.
  • Multi-location of assets
  • Disposal of assets using various modes of asset disposal.
  • Provision to write-off assets
  • Provision for different type of adjustments i.e. revaluation, re-classification etc.
  • Transfer of asset to other locations/ departments/ regional offices.
  • Breakup for assets costs either acquired locally or imported
  • Maintains the history of each asset
  • Fixed assets register for individual items

Reports

  • Fixed assets register
  • Depreciation schedule – financial and tax
  • List of assets location-wise, department-wise
  • List of transfers/ disposals/ additions
  • List of revalued assets/ re-classified assets/ written-off assets

 Depreciation

  • Maintaining different methods of depreciation calculation like straight line, reducing balance etc.
  • Depreciation methods setup at group level as well as at individual level
  • Provision to define depreciation policies regarding acquisitions and disposals
  • Prepares monthly and annual depreciation schedules.
  • Initial and normal depreciation rate (if different). Initial depreciation values are for the first year of newly acquired assets

Asset Maintenance

There are 2 ways to manage Asset/Equipment maintenance.

1.Preventive Maintenance:

Add maintenance schedule of each equipment/asset. Request for maintenance will be generated as per schedule and will be highlighted to technical team for action. The relevant maintenance checklist and spare parts of asset will automatically appear to maintenance team. They can add or remove things in bill as per their needs. Spare parts inventory will automatically decrease when consume.

2.Corrective Maintenance:

An employee can request for maintenance of asset when there is a need. Maintenance team can add checklist and spare parts required for maintenance in bill. Spare parts inventory will automatically decrease when consume.

  1. Design budget for projects and organization.
  2. Easy transactions of income/funds, sales, purchases, expenses, recurring invoices etc.
  3. Manage chart of accounts and journal entries.
  4. Cashbook, bank statements, reconciliation.
  5. All financial reports like
  • Profit & Loss
  • Balance sheet
  • General Ledger
  • Trial Balance
  • Cash flow statement
  • Executive summary
  • Joint venture report
  • Budget Vs Actual
  • Stakeholder Ledger