Finance & Accounting Module in ERP
Finance and Accounting module automates Financial Accounting Processes. It consolidates all financial data from multiple locations, companies, branches, departments into a single comprehensive view. It helps keep a close watch on the financial status with detailed analysis reports such as ledgers, trial balance, balance sheets, quarterly statements etc. This helps take strategy decisions to maximize profits based on real time financial data.
Spectrum ERP Finance & Accounting Module
Spectrum ERP Finance & Accounting Module provides functionalities to Consolidate Group & unit level accounts. It keeps a track of your Accounts Payables & Receivable. Helps carry out Cash & Bank reconciliation. Manages your Fixed Assets and plan your Project costs. Spectrum ERP ensures GST & TDS compliance. It provides detailed Financial analysis reports for Trial Balance, Trading A/c, Profit & Loss A/c, Balance Sheet, Creditors Balance, Cash/Bank Funds.
Components of Spectrum ERP Finance & Accounting Module
Spectrum ERP Material management Module has components such as Account Administration, Account Payable and Receivables, Cash and Bank Accounting, Fixed Asset Management, Costing, Statutory Compliances, Expense Management, Financial Analysis.
Integration with other Modules of Spectrum ERP
Spectrum ERP Finance Module is tightly integrated with all other modules of Spectrum ERP and supports all cases within ERP manufacturing.
Mobility & Reporting Features of Finance & Accounting Module
We have made certain important functions and reports of Spectrum ERP Finance Module available at the click of a button on your Mobile, so that you can take decisions and perform actions anytime, from anywhere.
- Voucher Authorization
- Payment Plan approval
- Sundry payment request
- Finance dashboard and reports
Functions of Spectrum ERP Finance & Accounting Module
Account Administration
Establishes information relating to Finance Books, Tax books, Fixed Assets etc.
- Group and unit level consolidation
- Multiple finance books
- Multiple tax books and tax rules
- Fixed asset and depreciation book
- Operative and reporting chart of accounts
- Configuration for auto accounting voucher generation
- Financial Periods
Cash & Bank Accounting
Maintains information pertaining to Cash and Bank transactions, reconciliation of accounts etc.
- Payment Plan
- Cheque Printing
- Bank Journal
- Auto Payment Posting
- Bank Guaranty
- Bank Reconciliation
- Cash Reconciliation
Costing and Cost Planning
Maintains information related to material, production, project costing
- Material Costing
- Production Costing
- Project Costing
Expense Management
Supports defining, recording, tracking of expenses such as:
- Expense Category wise budgeting
- Role and User Wise Budgeting
- Expense Approval Work Flow
- Enforcing restrictions on expense limits and receipt
- Show out of policy violations prior to submission
- Approve / Forward / Reject Expenses
- Receipt Management
- Email and SMS notifications
Account Payable and Account Receivable
Designed to automate and speed up the process of invoices and payments, reduce manual errors
- Supplier Advance
- Purchase Invoice
- Service Invoice
- Commission Invoice
- Freight Invoice
- Payment Request
- Sundry Payment
- Receipt Request
- Sundry Receipt
- Item Based Debit Note
- Item Based Credit Note
- Reference Reconciliation
Fixed Asset Management
Maintains information pertaining to Fixed Assets such as Purchase, Sales, Depreciations, Balances etc.
- Asset Opening
- Asset Capitalization
- Asset Tag Bifurcation
- Depreciation
- Addition of Assets
- Sales of Assets
Statutory Compliances
Supports documentations related to statutory compliances like GST TDS etc
- India specific configuration for GST, TDS
- Transaction-level implementation for compliances
- Reporting as per compliance requirement
Financial Analysis
Spectrum ERP provides many Financial reports for Analysis such as:
- Balance Sheet (Horizontal & Vertical)
- Profit and Loss (Horizontal & Vertical)
- Trial Balance
- Group Summary
- Cash Flow
- Fund Flow
- Ratio Analysis
- Outstanding Analysis and other reports
