FINANCE and ACCOUNTING Module

1. FINANCE and ACCOUNTING Module Access Infotech Pvt. Ltd. Chandigarh, India

2. FINANCE and ACCOUNTING • 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. Access Infotech Pvt. Ltd. Chandigarh, India

3. Contra Voucher Generation of Accounts codes Cost Centre Codes Maintenance ofAccounts codes JV Entry Opening Balance Transfer during new Financial Year creation SV Entry PV Entry BV & CV Entry Generation of VOUCHERS Budget Heads CV Entry Bank Reconciliation Approval of VOUCHERS Credit/Debit Notes Post Entries in Ledger Trial Balance MRN/Inspection of Goods Generate Monthly Statements Generate Yearly Statements Ageing Analysis Budgetary Analysis Generate Day Books Balance Sheet Cash Books Form 16A Transaction Tracking Ledgers Depreciation chart Sale Books Profit & Loss Account Journals Manufacturing & Training A/C Purchase Reg. Db/Cr Notes Acct. Summary Process Flow Access Infotech Pvt. Ltd. Chandigarh, India 3

4. 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 Access Infotech Pvt. Ltd. Chandigarh, India 4

5. 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 Access Infotech Pvt. Ltd. Chandigarh, India 5

6. 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 Access Infotech Pvt. Ltd. Chandigarh, India 6

7. Account Setup ACCOUNTS BALANCES ACCOUNT BALANCES ACCOUNTS BALANCE TRANSFER UPDATE ACCOUNT BALANCE Access Infotech Pvt. Ltd. Chandigarh, India 7

8. 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 Access Infotech Pvt. Ltd. Chandigarh, India 8

9. 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 Access Infotech Pvt. Ltd. Chandigarh, India 9

10. Vouchers VOUCHERS BANK VOUCHER CASH VOUCHER JOURNAL VOUCHER PURCHASE VOUCHER CREDIT NOTE SALE VOUCHER DEBIT NOTE Vouchers are used to keep record of all bank transactions, debits, credits, sales, purchase etc in an Organization Access Infotech Pvt. Ltd. Chandigarh, India 10

11. 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. Access Infotech Pvt. Ltd. Chandigarh, India 11

12. Automatic Vouchers – Insertion Settings The Voucher Insertion Setting helps in connecting the Human Resource module with the Finance Module and automatic insertion of vouchers Access Infotech Pvt. Ltd. Chandigarh, India 12

13. 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 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 Access Infotech Pvt. Ltd. Chandigarh, India 13

14. 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 Access Infotech Pvt. Ltd. Chandigarh, India 14

15. 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. Sales Vouchers • 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 Access Infotech Pvt. Ltd. Chandigarh, India 15

16. Credit Notes 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 Debit Notes • Debit Note Voucher insertion from Finance • Material Debit note generation from Rejection Challan Access Infotech Pvt. Ltd. Chandigarh, India 16

17. AUTOMATIC SALARY VOUCHAR INSERTION SETTING This helps in connecting the Human Resource module with the Finance Module and automatic insertion of vouchers Access Infotech Pvt. Ltd. Chandigarh, India 17

18. Voucher Approval • 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. Access Infotech Pvt. Ltd. Chandigarh, India 18

19. ACCOUNTS VOUCHER APPROVAL ACCOUNTS RECEIVABLE ACCOUNTS PAYABLE Process Diagram - Accounting Access Infotech Pvt. Ltd. Chandigarh, India 19

20. 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. Access Infotech Pvt. Ltd. Chandigarh, India 20

21. Account Payable • Payments are made • For the material received • For the services. • Adjustment while receiving payment • Creation of Cash or Bank Voucher Automatically. Access Infotech Pvt. Ltd. Chandigarh, India 21

22. Search Account Detail Access Infotech Pvt. Ltd. Chandigarh, India 22

23. 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. Access Infotech Pvt. Ltd. Chandigarh, India 23

24. DEPRECIATION INCOME TAX ACT COMPANY LAW ACT Depreciation Access Infotech Pvt. Ltd. Chandigarh, India 24

25. 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 Access Infotech Pvt. Ltd. Chandigarh, India 25

26. RECONCILIATION BANK STATEMENT BANK RECONCILIATION Bank Reconciliation ABank 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. Access Infotech Pvt. Ltd. Chandigarh, India 26

27. 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 Access Infotech Pvt. Ltd. Chandigarh, India 27

28. 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 Access Infotech Pvt. Ltd. Chandigarh, India 28

29. 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 Access Infotech Pvt. Ltd. Chandigarh, India 29

30. 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. Access Infotech Pvt. Ltd. Chandigarh, India 30

31. 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 Access Infotech Pvt. Ltd. Chandigarh, India 31

32. TRANSACTION REPORTS • Vouchers • Bank Vouchers • Cash Vouchers • Journal Vouchers • Contra Vouchers • Purchase Vouchers • Sale Vouchers • Debit Note • Credit Note • Cash Receipt Access Infotech Pvt. Ltd. Chandigarh, India 32

33. 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 Access Infotech Pvt. Ltd. Chandigarh, India 33

34. TRANSACTION REPORTS • Trial 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 Access Infotech Pvt. Ltd. Chandigarh, India 34

35. 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 Access Infotech Pvt. Ltd. Chandigarh, India 35

36. 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 Access Infotech Pvt. Ltd. Chandigarh, India 36

37. 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 Access Infotech Pvt. Ltd. Chandigarh, India 37

38. 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 Access Infotech Pvt. Ltd. Chandigarh, India 38

39. 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. Access Infotech Pvt. Ltd. Chandigarh, India 39

40. THANK YOU Access Infotech Pvt. Ltd. SCO 64-65, 4th Floor, Sector 34-A, Chandigarh Phone: 0172-5002677, 5025577 TeleFax: 0172-2622571 E-mail - jbs@accessinfotechindia.com www.accessinfotechindia.com Access Infotech Pvt. Ltd. Chandigarh, India 40