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Finance and Accounting

Ginesys ERP has a complete Finance and Accounting module that is integrated with all the other modules. Most growing companies require accounting software that is user-friendly, scalable and secure. For commerce companies into retail, wholesale or online commerce, Ginesys Finance is the best choice as it is integrated with all aspects of commerce. Read on how this module is the star of the ERP.

Integrated with Production, Sales, Retail and Ecommerce

Ginesys Finance is not generally used as a stand-alone accounting software. It is meant to be used when utilizing the complete ERP system. The benefit? All the modules of the ERP, like the purchase module, inventory management module, sales and distribution module, production module are directly integrated with the Finance module. This means that you do not need to enter purchase invoices, sales invoices, jobber service invoices. All of these get generated based on the entries in the respective modules. Further, even Ginesys POS, Zwing cloud POS, and the Browntape OMS are integrated to capture consolidated B2C sales, inter store sales, B2B sales and returns from offline and online retail.

Finance and Accounting
Finance and Accounting

Hold Retail Transactions and Auto Post Retail Transactions

The Ginesys One integrated system includes a desktop POS software Ginesys POS and a cloud-based software Zwing. Both are well integrated with the Ginesys Finance module. The additional advantage is that the entries are consolidated and posted to the financial ledgers. As an advanced option, you can configure it so that the transactions are not posted automatically to Finance, till they are reviewed. This does not interfere with the sales reporting or inventory reporting of the store sales.

 

Detailed Setup with Ledgers, Account Groups, Classes and more

Ginesys ERP allows you to create account groups and sub-groups. Account classes are another type of classification depending on the nature of the account and there are several pre-defined classes like Customer, Supplier, Jobber, Transporter, Agent, TDS Agency and others. Ledgers are of 4 kinds General, Bank, Cash, AR/AP and you can add more. Sub-ledgers can be defined as well. You can maintain cheques, default narrations or descriptions for various kinds of transactions. TDS sources and TDS agencies can also be set up. What’s more, you can use Excel for bulk creation of most of these entities

 

Finance and Accounting
Finance and Accounting

Manage Multiple Companies

Ginesys ERP has a concept of ‘organization unit’, which can be used to map to various accounting entities. This functionality makes it easy to manage different entities having many inter-party transactions as well as having a common set of users.

Create Custom Invoices, Vouchers and Other Documents

Creating custom invoices and different types of documents is a typical requirement of many businesses and Ginesys ERP fully supports this with an extremely flexible report designer. Add fields related to the document or calculated from other sources.

Finance and Accounting
Finance and Accounting

Easy Accounting with Bulk Operations of AR, AP and Cash

As a central repository of financial information, Ginesys ERP’s finance module, helps track payments to vendors, jobbers, agents, transporters, employee expenses and salaries. It also helps track the customer payments and balances due. Finally it helps with cash management to understand the fund flow including making bank transactions and doing the ‘bank reconciliation’ of entries in bank statements with the entries in the system.

 

At a click real-time Financial Reporting

The finance module generates various financial reports, including income statements, trial balance, and cash flow statements, outstanding statements. Ledger analysis and account analysis are also available in the system. Moreover, you can use the Ginesys BI Finance App to get many more insights of the financial health of your company.

 

Finance and Accounting
Finance and Accounting

Analyse Variance from Fixed Budgets

Helps in creating and managing budgets, as well as forecasting financial performance.

 

Faster Processing with AR and AP Workbench

The AR and AP module allows you to work on multiple entries at a single time with the ability to close out multiple transactions through a workbench window. You can apply various filters of ledgers, party name, date range and more to filter out pending invoices. It is meant for faster processing of bulk entries of payments and receipts.

 

Finance and Accounting
Finance and Accounting

Simplified TDS and GST management

Ginesys ERP supports TDS management with the source definitions and various TDS enabled transactions. Similarly for GST, the masters are configured in inventory (HSN master, tax rates, tax slabs) and in the purchase and sales modules (GSTINs and type of relationship). This automates all tax recording against each transaction.

Rest Assured with Audit Trails

Ginesys ERP maintains a record of all creation, editing, updates to all financial and inventory transactions for the purposes of auditing purposes. Reviewing the audit log is easy as it is downloaded to a human readable format. 

 

If you would like to know more about how the Ginesys Finance module of the Ginesys ERP can power your retail business ahead, get in touch with us.

 

Finance and Accounting
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