Accounts Automation

Scope of Automation:

There are more than 9000 educational institutes are included under Madrasah board. For the registration and form fill up yearly a major amount of payment is depositing in board, which is considering the major inflow. Other than this there are another income source is several services provides by boards to institutes and pupil. The accounts department of the board has to expenses several payments like payroll, rent etc. many types of regular expenses. The scope of automation of accounting system is to automate everything of account section of the board. To collect all sorts of payment and disburse all sorts of payment through software, the software will have option input income and expenses data and to generate reports as per requirements of accounts and audit section.

Income:

Online payments there are some other income source of board are existed. Selling of old exam papers, wastage etc various income should be entry manually in accounting software of board.

Hence all above income of board should be inserted in accounting software of board both automatically and manually and accounts department should get all types of detailed various head wise reports and ledgers for auditing and cross-matching.

Expenses:

Now a day all expense accounts of board are keeping manually. It is very much required to automate expenses of board’s. There should be some expense entry vouchers entry system in accounting software to entry all expenses of board. The major expenses are as follows:

General Ledger Management

This module enhances visibility into virtually all standard financial transactions such as accounts receivable, accounts payable, payroll etc..  Additionally, accounting software packages allow finance professionals to quickly and easily conduct consolidations by dynamically combining multiple ledgers (such as those from different departments or business units) into a single, complete financial statement.

Controlling and Budget Management

In an accounting software solution, financial teams can achieve and maintain tighter control over departmental and corporate budgets, and conduct more rapid and accurate internal and time accounting, cost accounting, product costing/cost of goods sold assessment, and more.

Cash Management

Many businesses struggle to correctly anticipate their cash flow requirements.  Accounting software applications, and their cash management capabilities, can help a business more accurately assess both their current and future cash needs.  Additionally, it can automate reconciliations, as well as the processing, execution, and tracking of all transactions that directly impact available cash levels.

Financial Forecasting

Effective financial management is about more than just analyzing past trends, it’s about using that insight to enhance future planning.  With an accounting software system, a business can more accurately predict and estimate potential profits and pending losses, revenue and cash flows, and other important financial events. They can then use this information to define and implement more successful corporate strategies.

Compliance Management

Because financial regulations have become much more stringent in the last several years, most accounting software applications provide complete transaction audit trails, as well as rules-based controls and advanced reporting capabilities that help facilitate Govt. compliance and other laws and guidelines.

Facilities of Automation:

The facilities of automation are like endless. The main features are as follows:

1. Bills System.

2. Cheques System.

3. Party Option. 

4. Expenditures.

5. Income.

6. Reports.

7. Cashbook.

Same like income statement all sorts of head wise expense ledger should be generated. All expenses should entry in accounts software and print a voucher to sign and approval for payment, each voucher should contain details of transaction information, like voucher no, expense type, bill no, amount, account head, receiver details, approved by etc. and also all cheque should be printed from the software to keep track all cheque issued information. So a cheque printing system should be integrated with the accounting software.

Therefore, by all income and expenses entry in amounting software it will possible to track and maintain a healthy accounting system.

Budgeting:

The budget information of board should be included in accounting system of board. To allocate fund, expenses according to budget, balance etc information should be create automatically through the accounting software.

So the accounting software should be integrated with web portal, online services and online payment system of board and expenses, budgeting, auditing information and transaction should be enter manually in a disciplined way to build a full proof & effective accounting system of board.

Client:

Achivement:

For all services and details contact : 01404457004-5