Financials Accounting (eFinancials)

The Financial Accounting System is an on-line integrated financial accounting system that records, monitors and maintains all accounting and financial transactions of the company and covers the tracking of debtors, purchases, creditors, cash and ultimately providing timely financial statements. The sub-modules of the Financial Accounting system includes:

 

The Accounts Receivable module handles some of the most important functions of any business, i.e. billing, collection and credit control functions.

    • Schedules billings to both tenants and owners – generates accurate and timely billings.
    • Tracks deposits received in a deposit ledger.
    • No requirement for “period closing”; system may be kept open for any period
    • Billings for late payment interest can be generated anytime taking into consideration of grace periods, credit terms and using different interest rates.
    • Aged Open Receivables Report with user defined aging periods
    • Prints monthly statements using open item or balance forward reporting methods
 

 This module provides efficient management of your trade and non-trade payables along with effective creditor management tools. It allows for the tracking of every aspect of payables from receipt of invoices to cash disbursements.

    • Caters for all types of creditors for the organization; whether they are contractors, trade creditors or sundry creditors which can be mapped to various creditor control accounts in the General Ledger
    • User-definable transaction type allows for transaction analysis purposes, e.g. type of invoices or type of credit notes etc
    • No requirement for “period closing”; system may be kept open for any period
    • Distribute invoices to as many general ledger expense accounts or asset accounts as you require
    • Partial payments are allowed for any invoice
    • Permits user-defined periods for aging payables.
    • It provides a meaningful and comprehensive financial summary of a creditor with drill-down capabilities to source documents.
    • Besides this, it provides matching of Purchase Requisitions to Purchase Orders, optionally, to Goods Receipt Note, to Supplier Invoices and Supplier Payments.
 
   

The Cash Book module is designed to facilitate a centralized payment and centralized receipting processing function and maintains a full ledger of all cash (such as petty cash, cash purchases etc.) related transactions. It also provides an easy to use Bank Reconciliation feature. This module allows you to maintain accurate accounting records for each checking and cash account for each bank you do business with.

 

 The General Ledger module serves as your company’s financial backbone and it is the heart of the Financial Accounting System. As Journal Entries are immediately posted to the General Ledger upon approval of any transactions, the General Ledger accounting module provide you with timely financial reporting. The key strength of the General Ledger Accounting module is in its integration to all other modules to automatically capture transactions to produce Financial Reports as and when required.

    • Unlimited user-definable Chart of Accounts.
    • Handles multiple bank accounts.
    • Journal entries from other integrated modules can either be directly posted on-line to the General Ledger or by batch mode.
    • It caters for 13 months, 15 months, 18 months or any number of financial periods a customer requires to have in a financial year.
    • It also supports “Previous Period Adjustment” within a financial year and “Audit Adjustments” after the close of a financial year. These special features are fully secured by authorized access control to avoid any unauthorized adjustments. Balance sheets and income statements can be custom designed with various levels of detail.