financials feature list

8/6/2019 Financials Feature List

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RAMCO FINANCIALS

Features List

Global Product Line Management

Chennai, July 2003


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Ramco Financials Features List

RAMCO FINANCIALS AN OVERVIEWRAMCO FINANCIALS AN OVERVIEW

Ramco Financials is the most comprehensive end to end, full-fledged, self-contained

financial management system that is so essential for monitoring your bottom line. Thefull suite of components can handle the processes involved in General Accounting and

Core Accounting Setup, Group Consolidation, Banking operations, Receivable, Payable,

Fixed Assets, Cost Planning & Control, Discrete Production Costing besides providing

features for setting up Country-specific taxes. Ramco Financials helps your financedepartment strengthen short-term performance, enable long-term growth and add value

by converting hitherto administrative financial tasks to key links enabling the financial

supply chain management.

Ramcos Enterprise Solutions provide for a scaleable Enterprise structure definition that

can keep pace with the dynamics of the corporate world with little or no disruption toyour core day-to-day transactions. Besides being able to get your statutory reports, you

can benefit from a host of alternative reporting structures that satisfies your top

management perspectives. Our Solution can effectively track financial transactionsarising from dispersed geographic locations in multiple currencies. It is integrated with

the basic information system to give complete, cross-functional and up-to-the-minute

information for quality decision-making.

All our applications are intrinsically web designed and provides for increasing

collaboration and automation of transactions, both within the enterprise and with external

business partners like customers and suppliers. Truly enabled for handling multi currencyfunctionality, they enable you to handle global business with ease in every step of your

business process.

Global Settings ensure that certain key entities are defined once and used everywhere.

They enable you to model your enterprise structure as per the legal ownership and

operational perspective that you want to retain for setting mission-critical Management

Information Systems in place. The system comes with predefined ISO country andcurrency codes for easy use, provision to define the enterprise both in terms of ownership

structures such as multiple companies in a hierarchy as well as the operating structures

such as business units, divisions or departments. A central Logistics organizationdefinition ensures uniqueness of supply chain elements like item masters as well as

business partners such as customer and supplier.

Core Accounting Setup The core of the system is a totally flexible Chart of Accounts

and user-definable financial calendar. The prerequisite activities before start of recording

transactions with financial postings are defined centrally in this process.

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Country-specific taxes deals with configurations, transaction support and reports that are

to be complied with for the VAT laws in Switzerland.

General Accounting is a repository of financial transactions taking place across the

organizational boundary. It facilitates reconciliation of accounts across the various

locations and transactions with the other group companies. Consolidation at variouslevels of company hierarchy facilitates viewing financial statements at the group level.

Group Consolidation handles the process of consolidating the results of multiplecompanies belonging to the same corporate group using Consolidation Chart of

Accounts and reporting structures that are user-definable.

Banking Operations include the whole gamut of banking processes, dealing with

receipts and payments, electronic fund transfers, bank statement upload andreconciliation, etc. all of which are critical to the monitoring of the actual cash flows inyour organization.

Our Financials includes Receivable and Payable Management functions to help in ably

monitoring your heaviest chunk of working capital.

Payable effectively tracks liability created from receipt of goods and services, matching

invoices and payment. A host of activities like vendor advances, prepayments, liabilityadjustment through debit / credit notes, invoice holding / reversing, invoice matching,

batch processing of payment vouchers, currency revaluation for foreign currency

transactions with vendors, etc. are available. It is tightly integrated with Logisticscomponents to track inventory and carry out effective material management.

Receivable integrates with Sales and shipping functions, providing a high degree of

automation features for customer invoice / revenue accounting, receipts, adjustments andcredit status tracking apart from a host of other activities that span the spectrum of

receivable management. Both Customer and Vendor portals provide a window to the

business partners to view and query on all their financial transactions on-line.

Fixed Assets monitors the organizations capital purchases through capital budgets and

effectively handles all activities in asset management ranging from expense

capitalization, calculation of insurance premiums, calculation of depreciation expenses,revaluation of assets, tracking of asset transfers and sales management to retirement of

assets.

The key to any successful enterprise lies in the ability to set challenging but realistic

goals combined with a proper monitoring mechanism. OurCost Planning and Control

components enables quick decision making through processes that aid planning,compiling, classifying, comparing and reporting organization wide costs. The cost and

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quantities involved in every step of the value chain can be captured and accounted forthrough a host of cost objects using multiple hierarchy structures.

Discrete Production Costing enables progressive cost tracking for production orders

across various stages of estimate, planning and release of orders. Order costing andsettlement provides the basis for a detailed analysis of variances arising out of

several factors such as material price / usage, activity price / usage besides other

categories. Cost roll up mechanisms help in monitoring periodically changes to thestandard cost of items and revaluing inventory with change in standard rates.

Security and access rights are based on roles and responsibility of the user. This ensuresthat activities are visible and accessible only to the relevant authorized person to ensure

privacy of data.

Workflow configuration that is freely configurable builds in the necessary checks and

balances for all transactions that have to be authorized at multiple levels of supervision.

Audit trail provides a complete and detailed tracking of the additions / modifications /

deletions in each and every activity with the history of the change and user identification.

List Reports are freely configurable using Ramcos Drill Down tool that providesfacility for linking multiple views that can be drilled down right from a summary level to

the lowest transaction information besides providing a graphical interface and facility to

export to MS Excel spreadsheets.

Formatted Reports (standard) are available through integration with Crystal Decisions.

The application can be interfaced with any 3 rd party report-writing tool to generate thedesired reports.

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GLOBAL SETTINGS

Organization Setup

Define and record details of multiple companies in a Single installation.

Define and add organization units based on requirement such as location,function, department or even a group.

Define Logistics organization and business units within or across companies.

Maintain identification details for Organization unit, Company or Business unit.

Build various hierarchical levels for parent-child relationship between companies.

Specify base currency and parallel base currency for a company.

Define multiple finance books for a company based on usage and requirement.

Define different types of Finance Books like posting Finance Book (for an

Organization unit), Main Finance Book (for a legal company), ConsolidationFinance Book (for consolidation of group companies), posting Tax Book (for an

Organization unit) and Main Tax book (for a legal company).

Map applicable Finance Book to an organization unit for posting financial entries.

Use freely definable segment codes / description for reporting.

Use the predefined list of country codes and currency codes with ISO details.

Define additional currencies and countries (if required).

Define permitted transactional currencies for a company and ability to enhance

the list.

Record details of sub-units in which currencies are dealt with.

Maintain bank reference data as a central directory for reference, either manually

or through file transfer mechanism and to be used by all applications such aspayroll, receivable, payable and bookkeeping.

Exchange Rate

Enter user-defined exchange rate types apart from system defined types such as

buying and selling rates to facilitate valuation options for multiple scenarios.

Maintain exchange rates for the various rate types either with reference to the

base currency or through a cross currency.

Automatic maintenance of inverse exchange rate.

Default exchange rates in transactions through parameters and through apredefined sequence set by the user.

Define exchange rates through manual entry or downloading the rates directly

from relevant sources.

Derive cross currency exchange rates through the use of an intermediate currency.

Derive period / year-end exchange rates for revaluation and consolidation.

Define currency fluctuation limits within which the daily operations of the

company can be carried out, for control on the operational exposure

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Document Numbering

Define unique numbering types for each or all of the transaction types in all

functions such as purchase, inventory, sales, etc.

Set a default numbering type for every transaction type.

Define applicability of numbering types for a combination of User organizationunit transaction type.

Allow specific transaction types that require manual numbering.

Activate or inactivate a numbering series based on requirements.

Quick Codes

Enable the change of metadata shown as combo values according to users

business needs. Add new values, modifying existing values, and changing the status of values

from active to inactive and vice versa.

Installation Parameters

Indicate whether Parallel Base Currency is applicable, and if so, the effective date.

Indicate whether the enterprise model setup is completed.

Record the Fixed Assets Installation date.

Specify whether the run number should be automatically generated on completion

of processes like Finance book consolidation, Group company consolidation or

financial closure. Indicate whether a single bank account is utilized by multiple Finance Books.

Indicate preference for having account codes automatically attached to all posting

Finance Books of a company.

Company Parameters

Set Validation options to be considered during financial closure procedure.

Indicate the option for consolidation process initiation for group companies and

whether posting is required transaction-wise or at summary level.

Set preferences for automation of transactions such as automatic authorization of

invoices, automatic receipt creation and adjustment for electronic receipts,automatic reversal of receipt on check bouncing, etc.

Set pricing application preference, modification during invoice, discretionarydiscount, etc.

Specify Exchange rate types to be used for receipts, payments, asset transactions,

etc.

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Indicate preferences for fixed assets such as whether automatic creation of assetID required, whether downward revaluation applicable or not.

Indicate whether future dated transactions for Journal voucher and financial

postings after provisional closure are allowed.

Business Unit Parameters

Indicate whether budgetary controls are mandatory or not for normal purchase

orders and capital purchase orders separately.

Generate new lot number / serial numbers for inter-organization unit stock

transfers.

Organization Unit Parameters

Maintain for each organization unit, the applicable parameters for variousapplication areas like payable, receivable, cost control, fixed assets, purchasing,

inventory and shipping with respect to automation, validations, modifications,overriding options, controls, integration, defaults, etc.

CORE ACCOUNTING SETUP

Accounting Setup

Chart of Accounts

Define multiple Charts of Accounts with identity code for each.

Define Operative Chart of Accounts with natural posting account codes and with

effective validity dates.

Attach Operative Chart of Accounts to one or more companies for centralizedmaintenance and control.

Copy, either in full or selectively, an Operative Chart of Accounts into another ID

as a reference list and maintained / modified by a company.

Define account codes in base or foreign currencies.

Define a Consolidation Chart of Accounts by a Group company.

Map a Consolidation Chart of Accounts to a companys Operative Chart of

Accounts. Maintain industry-specific or country-specific Chart of Accounts for reporting

purposes.

Define of a Chart of Accounts with multi-level hierarchy for reporting purposes.

Map the Posting account codes in the Operative Chart of Accounts to the non -

posting account codes in the Reporting Chart of Accounts.

Attach / copy the reporting Chart of accounts across companies.

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Define person responsible for a cost center with option of integration withEmployee Information.

Automatically extend validity periods of cost centers on authorization of a new

MAC calendar year.

Activate / inactivate cost centers.

Define cost center/unit hierarchy with multiple levels, by assigning a structure Id

at the Business Unit level.

Build a hierarchy and group within a hierarchy, one or more detail cost centers

under a group cost center and indicating them as default or alternate.

Define validity period for cost center structure.

Group of a range of cost centers (nodes) under a parent cost center

Define Cost elements applicable for a business unit with validity periods.

Define primary cost/ revenue (normal), allocation and activity cost elements.

Generate primary cost/ normal cost elements from a range of accounts applicable

to the Finance Book for the Business Unit. Indicate Unit of Measure (UOM) for cost element type - 'Activity ', 'Normal' and

'Allocation'.

Bulk-copy a range of cost elements (normal, activity and allocation), from one

Business Unit to another.

Generate automatically a range of normal cost elements from a range of account

numbers by specifying filters on the account group, in a single operation.

Map cost center to a range of normal cost / allocation/ activity elements

Map a range of cost centers to a range of cost elements (normal and allocation)

indicating the validity period, behavior of cost elements and traceability of normal

cost elements.

Define basic activity cost element and specify the default rate and budget numberfor calculating the standard rate of activity cost elements.

Specify additionally a maximum of 8 alternative rates for activity cost elements.

Map a normal cost element to one or more account codes in the applicable Chartof Accounts.

Define a multiple cost element structure, by assigning a Structure Id.

Bank / Cash Definition

Define multiple Bank and cash accounts in multiple currencies.

Define other communication details along with the SWIFT number and theClearing number.

Specify the interest rate for debit balances, credit balances and overdrafts. Interest

on overdraft amounts can be either by slab or on a percentage basis.

Indicate the credit limit for a particular bank account.

View the latest bank / cash account balances.

Store the names of various contact persons in the bank, along with their phone

nos., e-mail id and mobile nos.

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View the excess balance beyond the specified credit limit.

Define the drawable limit for a particular bank account, but within the credit limit

as defined by the bank.

Define a bank code for a bank account number and map it to posting Financebooks.

Specify usage for bank code, cash code and PTT codes for automatic account

definition.

Define file transfer details in case data needs to be transferred electronically by

bank.

Define multiple PTT accounts in case of electronic payments.

Account-based Budget

Define an account-based budget for monitoring revenues, asset and liability

balances and control over expenses and enable comparison of budgets versusactual.

Set up account budgets for analysis and control through setting Control action asHold or Ignore

Distribute the budget amount using various methods such as flat amount,

percentage increase / decrease, seasonal adaptation, etc.

Copy and transfer account budgets across financial periods and years.

Carry forward unutilized balance to the next financial period.

Increase or decrease the budgeted amount either on percentage basis or on flatamount basis to next financial period/year.

Define Analysis and Sub-analysis codes as an additional dimension of analysis in

transactions. Map sub-analysis codes to Analysis codes, either singly or across multiple

analysis codes.

Map analysis codes to account codes.

Define budgets for analysis and sub analysis codes for comparison.

Account Rule Definition

Determine account codes for various transaction types through a predefined

Account Rule Definition to record accounting entries for various transactions.

Define either user-defined or system controlled groups consisting of taxes andcharges codes and associate Taxes / Charges / Discount codes to an appropriate

account code.

Define account assignment rules for inventory movements.

Create supplier account groups and definition of multiple currencies, control

accounts and prepayment accounts for each supplier account group.

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Define additional account rule definitions for defaulting account codes likeDiscount, Penalty, Inter Finance Book, Inter Company, Exchange Rate, Invoice

Price variance, Bank Charges account etc.

Map each bank and cash account to a unique Posting account number as definedin the Chart of Accounts. The control account types being Bank / Cash account

respectively.

Define customer account groups and control accounts in multiple currencies,prepayment accounts and Non AR control accounts for each Customer account

group.

Define Sales Account Rule definition based on user selected parameters

Specify Asset Account Rule definition for fixed asset acquisitions, disposals,

revaluation and depreciation.

Specify VAT account Rule definition.

Specify Consumption account rule definition.

Use freely definable usages and assign the same to transactions/events.

Cost Center Rule Definition

Derive the cost center applicable for purchase, sale and inventory transactions

based on predefined parameters and conditions valid for a combination ofcompany, account code, Finance Book and transaction event type.

Specify additional parameters apart from the mandatory conditions.

Define cost center usage and use them as one of the parameters for arriving at costcenter rule default.

COUNTRY-SPECIFIC TAXES

VAT Set up Switzerland

View system-delivered definitions for VAT core categories conforming to SwissVAT laws National Sale, National purchase, Export sale, Import goods, Import

services, customs VAT, National sale of agricultural product, national purchase of

agricultural product, output VAT exempted and input VAT exempted.

Define additional categories in the event of statutory additions to existing

categories.

View system-delivered definitions for VAT class conforming to Swiss VAT laws

Goods purchase, Goods sale, investments purchase, other expenses, Ownconsumption sale, Service purchase, Service sale and Vehicle resale.

Define additional classes in the event of statutory additions to existing classes.

View predefined mapping of VAT class to VAT category with facility to map the

additional user-defined VAT classes to VAT categories, if needed.

View pre-defined VAT Category mapped to VAT Account types (VAT collected,VAT deductible, VAT non-deductible, VAT deductible charges, VAT non-

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deductible charges, VAT deductible discounts, VAT non-deductible discounts,VAT collected charges, VAT collected discounts, VAT customs deductible, VAT

customs non-deductible), conforming to Swiss requirement.

Define unique VAT codes and assign the applicable VAT rate for the same

(including zero VAT rate) with effective validity dates.

Activate or inactivate VAT codes with storage and retrieval of history data.

Define unique VAT groups to which individual VAT codes can be mapped witheffective validity dates. Same VAT code can be mapped to different VAT groups.

Map Item groups, individual or range of Items or variants defined in the inventory

application to VAT groups with effective validity dates.

Define and map ad hoc items (not defined in inventory application) to a VAT

group code with effective validity dates.

Link the definition of other taxes or charges defined in the application as vattable

and map the same to VAT group/s with effective validity dates.

VAT Calculation - Switzerland

Specify whether the 1) VAT is required or not (2) The default values for VAT

category and VAT class. (3) Whether VAT is inclusive or exclusive of the

transaction amount for all purchase transactions.

Calculate VAT for Quotations, Purchase orders and Goods Receipts, Invoices,Debit / Credit Notes, Payment / Adjustment Vouchers based on a system

parameter (company-level) in Purchase / Payable functions.

Modify the VAT details entered in the Purchase order either at the Goods receiptstage or the invoicing stage.

Calculate VAT for Sundry Payments and Receipts and Recurring Payments /

Receipt transactions. Calculate VAT for Sale Orders, Quotations, Invoices (Order based / Direct /

Prepayment), Debit / Credit Notes, Receipt Application, originating in the Sales

and Receivable functions.

Modify the VAT details entered in the Quotation either at the Sale Order stage orthe invoicing stage.

VAT Declaration Switzerland

Define a standard VAT calendar for predefined frequencies such as fortnightly,

monthly, half-yearly or yearly or a customized VAT calendar with user-defined

days and start dates or default the Financial Calendar and period definitions for

the same. Capture a Pay due date on which the crystallization of the tax liability is

recorded.

Generate both the provisional and final declaration report at the Company level

and the provisional declaration at the individual organization unit level, in any

language registered at the company / organization unit, with the Swiss VATRegistration ID number and in the standard format as applicable under the Swiss

VAT regulations.

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Map items in the report to user defined VAT categories and classes, if any.

Update automatically the status of a declaration period to Declared once the

report is printed and authorized and if it is the last declaration period in the year,

change the status of the VAT year to Declared.

Generate a VAT Recapitulation report relevant to a Declaration year / period in

multiple languages for a range of VAT class, VAT category, customer / supplier,

showing the details of VAT code, VAT rate, vattable amount and VAT amount.

Generate VAT journal for declared periods that balances the difference between

the consolidated input and output tax accounts to arrive at the tax liability or

refund due and posts the difference to the designated account code as specified in

the Account Rule definition.

Automate the generation of Sundry payment voucher for releasing payment

towards the VAT liability.

Capture the VAT journal reference in the Sundry receipt voucher for refunds.

Close sequentially the VAT declaration periods after the VAT journals aregenerated and authorized before closure of the VAT year.

Reports Switzerland VAT

Avail of standard off line reports such as:

o VAT Group Definition Report (VAT Code, Item Mapping, Vatable taxes /

charges mapping)

o VAT Calendar Definition

o VAT declaration report (Final and Provisional)

o VAT Journal / Recapitulation report.

GENERAL ACCOUNTING

Journal Voucher

Use either manual numbering of journal vouchers or automatic generation ofvoucher numbers on the basis of document series.

Default base currency as account currency during transaction entry.

Enter journal vouchers to be recorded in any currency with automatic calculationof Base currency amount by applying the exchange rate.

Automatically get the Exchange rate as per the Exchange rate type option set in

process parameter.

Modify the exchange rate defaulted within the tolerance limits specified.

Calculate total debit amounts and total credit amounts in the document and to

throw up an error if it doesnt match

Generate automatically a Control total in the journal voucher to check whether the

total of debit line items values equals credit line item values.

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Option for the user to manually enter the Control total to be checked, through asetting in the process parameter.

Specify additional dimensions for account codes such as cost center, analysis code

and sub analysis code that can be entered in all journal vouchers.

Organize posting of accounts into macro groups for allocation purposes and

define the account codes which are to be used for distribution of amounts through

a Distribution setup template.

Specify the proportion in terms of ratio or percentage in which transaction

amounts are to be apportioned.

Allow the use of the template in regular journal voucher creation with facility toedit the information in the template account codes, debit / credit indicator,

currency, cost center, analysis / sub analysis codes and the percentages in which

the transaction has to be posted.

Add remarks and attach notes to journal vouchers.

Retrieve journal vouchers in multiple statuses, such as Fresh, Authorized, Posted,Reversed, Deleted and Converted, using multiple filter criteria like amount, daterange, status, user, etc.

Select using multiple criteria and delete vouchers either singly or in bulk.

Authorize journal vouchers either singly or in batches.

Reverse Journal Vouchers in a provisionally closed financial period or year.

Set up multilevel authorization through workflow process that enables creation

and authorization of journal vouchers subject to individual user limits.

Make reversal journal vouchers that can be automatically reversed on the userspecified date.

Allow backdated transactions and post-dated transactions into open financial

periods. Create recurring journal vouchers using templates that can be set with options to

recur daily, weekly, monthly, or spanning over different defined financial periods.

Automatically schedule the posting of recurring, post dated and reversal journalvouchers using Ramco Daemon Scheduler.

Pass a simulation or a Memorandumjournal entry to know the effect of the same

in the financial reports without actually posting the entry in the Finance Books.

Retrieve the memorandum vouchers through multiple filter criteria such as

amount, date range, user, etc. and convert the same either singly or in bulk into

regular journal vouchers at any point of time to update the books of account.

Integrate account postings from other application areas and for special processessuch as consolidation, currency revaluation, etc. through system-generated journal

vouchers.

Finance Book Processing

Provides a repository for all financial postings from all business functions.

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Generate General Accounting vouchers and update account balances as ascheduled / batch process.

Enter initial balances in base as well as foreign currencies.

Modify initial balances entered till it is specified as complete.

Check the data entered by verifying the Debit totals and Credit totals and the

difference if any.

Upload the initial balance entries as a batch process and capture log of errors, ifany.

Incorporate balances of control accounts such as receivable, payable, prepayment,

etc. in the Finance Book and record individual opening balances for the sub ledgersystems as back dated transactions (invoices, credit / debit notes, etc.)

View a default Financial Statement (Balance Sheet and Income Statement) drawn

as per the US Generally Accepted Accounting Principles (US GAAP)

Retrieve information on account balances for a Finance book with the following

options: Balances in Account currency, Balances in Base Currency and Balancesin Parallel currency (if parallel currency is defined for a company) and view the

opening balance, period debit entries, period credit entries and running balance.

View a comparison between Account balances and Account budgets defined for

the financial period / year

Tax Book Processing

Maintain a separate ledger for tax purposes and facility to create entries throughTax journals for adjustment.

Incorporate selected transaction types into Tax book.

Post block depreciation into Tax book through integration with Fixed Assetsmodule.

Bring into the tax book the initial balance entries.

View account balances for a tax book.

Close tax books for a financial calendar.

Financial Calendar Closure

Perform multiple provisional closure of finance books for financial period / year.

Update the balances online in the finance book after each provisional closure.

Perform individual Business Function Group (BFG) closure before closingfinance book for one / many or all finance books and Organization units.

Validate at the time of closure of Finance Book for the year, whether the

reconciliation of all bank accounts with the books have been completed and thatof all Inter Finance Book accounts and inter company accounts have been

completed.

Ensure that all unauthorized vouchers are authorized, Automated checks printed,transactions from other applications incorporated prior to closure.

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Close financial periods sequentially.

Perform multiple financial period closures at one instance.

Generate a list indicating the existence of pending transactions at the individual

component level.

Generate reports to record transactions posted between provisional and final

closure of the period.

Freeze the closing balances of a period on final closure and update the openingbalances of the next period.

Automatic zeroing of all profit & loss accounts and transferring balance to

Retained earnings a/c on actual closure.

Determine whether period closing required for a Business Function Group.

Finance Book Consolidation

Post consolidated entries to the Main Finance Book, from all the other PostingFinance Books of a company for obtaining company-wise financial statements.

Consolidate data either transaction wise as one to one or as summarized balances

into the Main Finance book.

Define many reporting structures for Simulation through a combination of two or

more posting finance books.

Simulate the finance book consolidation process.

Generate a Consolidation run number to keep track of the progress in the

consolidation process and use the same for generation of reports.

Define one / many external enterprises by assigning an identifier and name.

Manually enter or upload using XML, the account codes of the external entities

and map the same to the posting Chart of Accounts of the company.

Upload periodic account balances (in the form of a Trial Balance) of the external

entities and use the same during the consolidation process.

Pass adjustment journal vouchers in the Main Finance book.

Consolidate finance books and tax book by passing consolidation entries.

Inter Finance Book Reconciliation

Track inter-company and inter finance book transactions, through inter - company

accounts and inter - Finance books accounts respectively.

Reconcile transactions with respect to transfer of funds, general, stock or capitaltransfer.

View on-line summary of account balances for inter company and Intra Company

transactions.

View unreconciled transactions separately for inter finance book and inter

company transactions.

Reconcile by matching transactions (with opposite effect) within the same financebook.

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Automatically reconcile transactions that are system-generated between financebooks.

Manually reconcile by choosing the line items to be matched by using tag groups

and complete the reconciliation.

Create documents for passing the rectification entries for the inter finance book

transactions (Journal voucher) as part of the reconciliation process.

View and track system generated reference for the transactions that arereconciled.

Currency Revaluation

Simulate the effect of currency revaluation on the account balances without

actually modifying them.

Revalue supplier, customer and account balances outstanding in foreign currency.

Specify exchange gain/loss account, for each currency and also the cost center forposting the same.

Prevent posting of transactions after currency revaluation.

Financial Statement Layout

Use freely definable formats for financial statements and schedules for reporting.

View predefined / Default Financial Statement Layout, including cash flow

statement in accordance with US GAAP format.

View predefined / Default Basic Financial ratios under six broad heads (liquidity,

working capital, asset management, profitability, leverage and ROI measures)

calculated. Define master schedules comprising of sub-schedules.

Define groups and sections under schedule and layout.

Define separate layouts relevant to various / multiple Chart of Accounts.

View unmapped accounts and schedules.

Copy schedules and layouts between companies / business units sharing the same

Chart of accounts.

Legacy Data Upload

Manually enter or upload using file transfer methods, legacy data like Trial

balance, Income Statement and Balance Sheet for each finance book.

Upload for the legacy calendar periods / years defined, the account balances in

base currency or in foreign currency.

Reports in General Accounting

Extract reports to Microsoft Excel and view the same.

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Display break up details in Trial balance, balance sheet and Income statement,and view the same.

View / print reports based on user-defined Financial statement layouts.

Extract reports in Base currency, parallel currency (if defined) and Accountcurrency (wherever applicable).

Avail standard off line reports such as:

o Trial Balance

o Balance Sheet (& schedules)

o Income Statement (& schedules)

o Account / Analysis / sub analysis balance report

o Budget versus Actual

o Account Ledger

o Journal Voucher Register

o Exchange Rate Listing

o Currency Revaluationo Journal Voucher Listing

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Make payment of claims and reimbursements to employees, other miscellaneouspayments, insurance payments for fixed assets and payment to VAT authorities

either centrally or in a decentralized manner.

Use option to default accounts in sundry payment voucher by definition of usage/sin the account rule definition component.

Reverse a payment voucher after it has been authorized (in requested status).

Hold/ Release payment voucher after it has been authorized.

Define recurring voucher payment template with option to generate vouchers on a

daily, weekly, fortnightly, monthly. Also on specific days of a week or month or

year (e.g. first Friday of a month).

Cancel an authorized template to stop further payment voucher generation.

Calculate VAT for sundry payments.

Make cash payments.

Specify the bank through which payments are to be made.

Use various Bank Payment modes (in the form of Pay Order, Check and DD,Direct Debit, Swiss electronic pay modes).

Ensure credit limit check and option to hold a voucher in case of insufficient

balance in the selected bank/ cash account.

Specify incidence of payment charges on payer or payee viz. DD charges.

Specify past or future payment date for bank payment; future payment date for

cash payment.

Make foreign currency payments through a foreign currency or a base currency

bank account (with pay Mode Direct Debit) in a single payment batch.

Capture the payee details for sundry payments.

Check against budget limits (account based) on creation of payment voucher.

Pay through Swiss electronic payment types and payment modes.

Release Payment

Make payments in currencies different from those of the liabilities recorded.


bank account (with pay Mode Direct Debit) in a single payment batch.

Make an account limit check on creation of payment voucher and before releasing

payment.

Update invoice status as Requested on creation of payment voucher and then as

Paid on payment release. Record bank/instrument charges.

Print checks for supplier payments, sundry payments, Payroll payments and VATrelated payments.

Define the check details for each bank account Check Prefix, length of check,

number of checks, Starting Number and Ending Number.

Enter Bank code with the check number series on check leaves and to view the

number of available checks.

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Define whether check numbers/checks are to be generated automatically /manually.

Print Check stubs with payment details such as Invoice Number, Invoice amount,

Invoice currency, check no, check date check amount, Pay currency, payee name,and address with payment terms (discount, penalty and prepayments) along with

the Check

Define number of lines in the stub.

Exercise the option not to print stub details.

Reprint checks with or without stub details and without making duplicate postings

into the respective accounts.

Select, void and delete Checks based on the bank code, specified check series,

check date or date range.

Reverse entries on voiding the selected checks.

Mark checks as faulty and unused and view deleted, voided and printed checks,

and delete checks marked as faulty and unused. List a reason for deletion of the check.

Modify payment priority and check date in the payment voucher.

Use Swiss electronic payment types and payment modes.

Use Electronic file transfer pay modes (Swiss).

Release Payroll payments viz. salary, etc. directly based on authorized payment

request from Payroll systems.

Bank Reconciliation

Enter manually or download electronically the bank statement periodically

through file transfer mechanisms.

Reconcile, using automatic reconciliation process, between bank statement and

Bankbook.

Manually reconcile multiple bank transactions through use of tag groups foridentifying grouping of line items.

Calculate and account for bank charges for differences in transaction amount.

Reverse the effect of reconciliation before final confirmation of the reconciliationprocess.

Reports Banking Operations

Avail standard offline reports such as:o Bank book Register

o Bank Reconciliation

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RECEIVABLE

Customer Order Based Invoice

Raise invoices automatically on authorization of pack slip or service work order.

Optionally generate invoices manually based on various selection criteria.

Create invoices in currencies different from that of the Sale Order.

Specify the exchange rate type that is to be used for invoices raised in foreign

currencies.

Generate and authorize invoices in bulk.

Raise invoices based on outward Consignment Consumption reports.

Raise invoices against Bill and Hold orders.

Modify details of generated invoices.

One pack slip one Invoice: Separate Invoices for each of the pack slips generatedand in shipped status.

One Sale order - one Invoice: One Invoice is generated for every sale order

selected for invoicing, multiple pack slips for a sale order are combined to one

irrespective of the Ship to customers and ship to Ids.

One Sale order one ship to customer - one Invoice: For every combination of

sale order and a unique ship to customer a separate invoice is generated.

One Sale order - one ship to customer - one ship to Id-one Invoice: For everycombination of sale order, ship to customer and ship to Id separate invoices are

raised.

One Bill to customer one invoice: One single invoice is generated for the packslips generated irrespective of the Sale Orders, ship to customers, ship to Ids.

One Bill to customer one ship to customer one invoice : For a Bill to

customer irrespective of the Sale Orders and ship to Ids one single invoice israised for the pack slips generated.

One Bill to customer one ship to customer one ship to Id - one invoice: For

a Bill-to customer, irrespective of the Sale orders, one single invoice is generatedfor every unique combination of ship to customer and ship to Id.

Record the details for Swiss electronic payment types like ESR, ESR plus and

LSV.

Default the Taxes / Charges / Discounts from the Sale Order and modify the

same.

Add Taxes / Charges / Discount at item level or document level.

Specify payment terms.

Default the pay term in the Sale Order and modify it.

Specify a unique number identifying the payment tranches in a pay schedule

Modify system computed pay schedule.

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Default system date as anchor date and modify it to any date equal to or later thanthe SO Authorization Date.

Calculate discounts on base or gross invoice value.

Indicate the Invoice status as partly paid and fully paid.

Default the freight charges in the invoice as defined in the pack slip and modify

the same

Default the Freight control Account

Provision to mention whether freight is to be included in the Invoice Amount or

not.

Record freight in a currency other than the Pack Slip currency.

Record the cost center, analysis and sub analysis code details in the invoice.

Record VAT details, calculate VAT automatically and indicate whether VAT

amount is inclusive or exclusive in the total invoice amount.

View / print / fax / e-mail invoices to customers.

Transmission of invoice to customer using XML document exchange through theCollaboration Manager component.

Reverse posted invoices based on certain preconditions.

View account postings on authorization and posting of invoices.

Customer Direct Invoice

Raise Credit or Cash Invoices for items and / or services without reference to Sale

orders.

Generate direct invoices either with or without reference to pack slips or service

work orders.

Specify item information, customer details, commercial information, defaultstandard pay term and modify it if necessary, payment information, shipment

information like weight, volume, packaging, etc. and record item shipment status

in the invoice.

Enter price details of items from the Price list definition.

Associate cost / profit center to the invoice transaction.

Perform credit check before shipping the items to customer under a direct invoice.

Ship items to customer if invoice is raised without a pack slip creation

Specify a unique number identifying the payment trenches in a pay schedule and

to modify system computed Pay Schedule.

Default system date as anchor date and modify it to any date equal to or later thanthe authorization date


Indicate the Invoice status as partly paid and fully paid.

Default the freight charges in the invoice as defined in the pack slip and modify

the same

Default the Freight control Account

Mention whether freight is to be included in the Invoice Amount or not.

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Apply and adjust automatically Credit notes against pending debit documents.

Associate appropriate cost / profit centers for the debit / credit note raised.

Raise account-based debit notes or credit notes (without reference to items) and

specify the account codes that are to be used for posting the transaction.

Reverse credit and debit notes raised with appropriate reason codes.

Set up multilevel authorization through workflow process to enable creation and

authorization of credit / debit notes subject to individual user limits.

Support automatic generation of a credit note on one Business unit against a Debit

note raised by another Business unit and vice versa.

View / print / fax / e-mail debit / credit notes to customers.

Customer Receipts

Record receipts from customers in any currency, at any organization unit or

location and match at the customers organization unit.

Indicate the invoice number or debit note against which payment is received. Automatically adjust a receipt against invoices / debit notes simultaneously with

the receipt authorization.

Edit the exchange rate at the time of recording the receipt.

Record receipts against outstandings of multiple debit documents of the same

customer.

Record various types of receipts in the form of cash, bank, credit card and Swiss

electronic pay modes.

Record receipts against prepayment invoices, advances and deposits.

View the account posting details of receipts.

Record and track bank receipts and the instrument status as realized, or bounced

Reverse receipts for instruments that are not cleared, dishonored or bounced.

Specify collector code in receipt details.

Use system-generated serial number for receipts.

Hold a receipt from adjustment / application with the debit documents even afterauthorization.

Release the held receipt for customer balance adjustment.

Upload receipt in case of Electronic file transfer (Swiss pay modes).

View the receipt details in case of electronic receipts (Swiss pay modes).

Record receipts in a different currency as that of the debit document currency.

Apply and adjust receipts automatically against customer debits (either on first-in

first-out or lastin-first-out on a particular debit document) at the time ofrecording the receipt.

Record the cost center, analysis, sub analysis code details in receipts.

Record postdated- bank payment, and receipts instruments.

Disallow customer receivable related postings in a closed financial year.

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Customer Balance Adjustment

Match one or many receipts from / credit documents relating to a customer

against one or more debit documents in the same currency.

Match one or many receipts from a customer in one currency against one or moredebit documents in a different currency.

Adjust credit documents against debit documents of a customer even if the

customer is in inactive or hold status.

Reverse a receipt application batch, leading to restoration of the original customer

debit and credit documents.

Automatic calculation of discounts and charges based on payment terms that areeditable by the user

Post accounting entries to record exchange rate variances arising on adjustment of

foreign currency outstandings and receipt currency adjustment.

Automatically write off small residual values.

Make receipt application across group customers for matching credits of acustomer against debits of other customers in the same hierarchy.

Specify customers other than those in the customer hierarchy to be considered for

receipt application.

Calculate VAT on discounts allowed.

Use system-generated debit/ credit memo for discounts and charges arising out of

customer balance adjustments.

Credit Management

Define credit terms at Company level and attach them to customers.

Set credit limits at the organization unit level.

Set customer-wise credit limits for each bucket (through credit term).

Specify Single Order Limit, and Total Order Limit for each customer at OU level.

Assign a weightage factor for each bucket to help in assessing overall credit

position of a customer.

Default credit limits and order limits from the credit terms attached to the

customer.

Take Credit Limit Action by one of the following: 1) Ignore: No action is taken;2) Hold: Any new order when created, automatically goes into hold status when

the single order/total order limit is crossed.

Run credit check of the customer at one of the following levels viz. organization

unit, Common Customer across organization units and up the customer Hierarchy. Perform credit check run at the time of recording customer Sale order.

Perform credit check run before generating Pick Order.

Perform credit check run at the time of pack slip processing.

Option to run credit checks at any time and view the credit rating of the customer.

Define the set of cut-off limits for the purpose of credit checking and arriving at

overdue balances.

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Based on the overdue balances, automatic categorization of customer's creditstatus for Order booking, picking and shipping.

Exempt specific Sales Orders from Credit Checking.

Undo exemption of Sales Orders done earlier so that the Sales Orders would againbe subject to Credit Checking.

Manually change the customer credit status for a given period.

Maintain history of modification of credit status details.

Maintain last credit check's details like run date, rating etc.

Update overdue from customers and reposition them in the appropriate overdue

bucket by running the aging process.

Run aging process for one customer, for a group of customers, or for all

customers.

Dun all customers, a selected or a single customer.

Filter documents for dunning based on document type, overdue amount, currency

and overdue days. Charge the customer an amount for dunning activity.

Dun either at current date or at any earlier date.

Define levels (max 10) for multiple dunning for any particular overdue document.

Print dunning notes of varying severity depending on overdue period for any

particular document.

View dunning history for selected customer(s) or customer group based on the

same filters as for dunning.

View dunning history for a particular document.

Make automatic dunning runs at user-specified time intervals using Ramco

Daemon Scheduler.

Print / fax / e-mail dunning letters and other reports / correspondence to customer.

Select debit documents either in whole or in part and create a request for making a

provision for bad and doubtful debts.

Process the request for provision in General Accounting through workflowprocess.

Reverse the provision created, write off bad debts incurred or write back debts in

case the same is received.

Customer Balance Transfer

Make a transfer of balance, either in whole or in part, between two customers in

the same or different Finance books. Transfer, either in whole or in part, balances between two different accounts

belonging to the same customer.

Transfer, either in whole or in part, balances between two control accountsmaintained in different currencies.

Specify the documents that constitute the balance to be transferred in part.

Modify or record the pay terms applicable for the transferred documents.

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Customer Payment

Record payment types as either Regular or Deposits

Make payment vouchers against credit notes outstanding to a customer.

Assign reason codes for payments to be made.

Reports Receivable

Avail standard offline reports such as:

o Customer Balance Ageing Analysis

o Customer Credit Status

o Customer Balance Adjustment

o Customer Statement

o Customer Sub Ledger Balance

o Customer Early Payment Report

o Sales Realization Forecast

o Sales Journalo Customer Transaction List

o Dunning Report

o Customer Balance Inquiry

o Customer Balance Revaluation

o Held Documents

o Print Invoice, credit / debit notes, receipts.

PAYABLE

Supplier Order Based invoice

Record supplier invoices and liability for various purchases normal goods and

services, FOB purchases, delivery charges, automatic invoicing on confirmation

of goods receipt, liability for inward consignment of goods on consumption, dropship purchases and capital goods /service purchases.

Perform the function of recording supplier invoices either centrally or as a

decentralized function.

Capture supplier details like name, priority, pay term, pay mode.

Record the details of supplier invoice namely date, number & amount, Item code,

Unit of Measure, quantity and rate. Record invoice without supplier invoice particulars (for automatic invoicing).

Check for uniqueness of supplier invoice numbers where it is captured.

Raise invoice against a Purchase Order (PO) supplier or Pay to supplier.

Record supplier line number reference for future reconciliation.

Raise expense invoice for items/services not maintained in inventory.

Calculate taxes/charges/discounts on the full invoice value or for each item value.

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Record invoice for taxes/charges/discounts payable to a non-PO supplier capturedat goods receipt stage viz. customs duty.

Calculate VAT at transaction level.

Capture Cost Center, analysis and sub analysis code against each line item ofinvoice.

Provision to record invoice with reference to one or more PO (Order Based

Invoice).

Club together multiple POs, provided they are in same currency.

Specify the goods receipt note(s) for which order based invoice is to be raised.

View Purchase Order or the Goods Receipt referred to in the suppliers invoice.

Raise order-based invoice before goods receipt (for purchases under commercial

terms like FOB, ex-works).

Provision to take reference of FOB acknowledgement document for Pre-GRInvoicing.

Provision to reconcile between Invoice and Goods Receipt after payment and book variance arising out of exchange rate, Price and Quantity during

reconciliation for Pre-GR invoices.

Raise order-based invoice without goods receipt (e.g. for service items).

Raise invoices based on Consumption report document and on the basis of goods

receipt raised for Consignment stock items.

Match order-based invoice details with Purchase Order and/ or Goods receipt.

Validate invoice as per different matching criteria (2-way, 3-way at PO, 3- way at

GR, 4-way at PO and 4-way at GR) specified in the Purchase Order.

Force-match supplier invoices that have failed auto-match. (Note: Force matching

is possible only for invoice that has failed auto matching).

View supplier invoices to be matched, with specified filters like date, currency,and amount.

Specify two different amount tolerances one for auto matching, and the other for

forced matching.

Calculate and post the variance in the invoice amount to the invoice amount

variance account and exchange variance account for exchange rate variance after

the invoice is matched.

Using Purchase Order tolerance for both positive and negative variation in

quantity/value or both.

Provision to choose pay mode options like "Cash", "Check", "Demand Draft",

"Direct debit, "Pay Order" and electronic pay modes. Default the payment term attached to the Supplier at the invoicing organization

unit and modify it.

Default the Purchase Order Pay Mode and Pay term and modify the same.

Capture default Pay Mode for supplier, if more than one purchase order is referred

to in the invoice.

Default Pay Term for the supplier, if multiple POs with different Pay Terms arereferred to in invoice.

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Default system date as anchor date and modify it to any date equal to or later thanthe PO Authorization Date

Capture information about discounts, taxes and charges applied to an invoice or to

individual items i.e. invoice level TCD.

Link an invoice to a payment schedule with multiple pay dates.

Specify a unique number identifying the payment terms in a pay schedule.

Modify system computed Pay Schedule.

Default Supplier priority as payment priority for the invoice and modify it

Specify both the payment organization in the invoice as well as the amount due

there under, either as a percentage or as a flat amount.

Specify discount available as on the date of liability, recorded either as a

percentage or a flat amount.

Specify penalty to be paid for overdue payments recorded as a percentage.


Set default exchange rate type for liability creation. View payment and adjustment details pertaining to a supplier invoice recorded.

Raise Miscellaneous Invoices (i.e. invoice for taxes / charges payable to a non-

purchase order supplier captured at goods receipt stage) in currency different from

the Purchase Order currency e.g. customs duty can be payable in local currencywhile invoice is in foreign currency.

Record order based invoices in a currency different from that of the Purchase

order.

Automatic invoicing based on goods receipt without necessity of receipt of a

supplier invoice.

Automatic authorization of matched invoices.

Bulk-authorize invoices after selection through a set of filter criteria.

Record supplier invoices for fixed assets purchases by specifying identification

number defined for the asset.

Provision to default Supplier Control Account for the supplier based on theinvoice currency.

Automatic document number generation based on document type.

Provision to default and modify the Finance Book to which account postings willhappen.

Allows posting across open financial years.

Reverse an invoice after it has been posted but before payment request has been

made or it has been adjusted. Hold and subsequently release an invoice that is posted but not fully paid/adjusted

or requested.

Hold and subsequently release an invoice for authorization.

Check for account limit or budget before an invoice is recorded.

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Specify discount available as on the date of liability, recorded either as apercentage or a flat amount.

Specify penalty to be paid for overdue payments recorded as a percentage.


Set default exchange rate type for liability creation.

View payment and adjustment details pertaining to an invoice.

Support stock updating on authorization of invoice

Support inventory updating for all codified items

Record supplier invoices for fixed assets by specifying the Asset Proposal

Number (if Asset Planning component is in use).

Default Supplier Control Accounts viz. Payable a/c, Deposit a/c, and Prepayment

a/c for the supplier, based on the invoice currency.

Automatic document number generation based on document type.

Default and modify the Finance Book to which account postings will happen.

Allow posting across open financial years subject to other validations. View the account posting for the recorded invoice and on authorization.

Reverse an invoice after it has been posted but before payment request has been

made or it has been adjusted.

Reverse an adjustment voucher after it has been posted.

Hold and subsequently release an invoice that is posted but not fully

paid/adjusted or requested.

Adjust pending invoice with unadjusted prepayments/debit notes for a particularsupplier.

Support adjustment against pending debits on authorization of invoice,

Check against budget (account based) on creation of invoice.

Supplier Debit / Credit notes

Integrated process link to goods return function that automatically triggers debit

note generation for items/ goods rejected and returned to supplier.

Facility to raise item-based debit notes with reference to purchase and goods

receipt documents.

Provision to include pay terms, define /modify payment schedule and specify thepayment modes such as cash, check or electronic payments.

Enter the reference document number against which the note is raised.

Record the item numbers for documents against which the notes are raised.

Facility for automatic application of debit notes against pending credit documents. Associate appropriate cost / profit centers, analysis and sub analysis codes for the

debit / credit note raised.

Raise account-based debit notes or credit notes (without reference to items) and

specify the account codes that are to be used for posting the transaction.

Reverse credit and debit notes raised with appropriate reason codes.

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Multilevel authorization through workflow process enables creation andauthorization of credit / debit notes subject to individual user limits.

Supports automatic generation of a credit note on one Business unit against a

Debit note raised by another Business unit and vice versa.

Facility for viewing / printing / faxing / e-mailing debit / credit notes.

Supplier Balance Transfer

Make a transfer of balance, either in whole or in part, between two suppliers in

the same or different Finance books.

Transfer, either in whole or in part, balances between two different accountsbelonging to the same supplier.

Transfer, either in whole or in part, balances between two control accounts

maintained in different currencies.

Specify the documents that constitute the balance to be transferred in part.

Modify or record the pay terms applicable for the transferred documents.

Supplier Payment Processing

Request for payments to discharge supplier liabilities, advance payments and

other miscellaneous payments such as statutory payments, loan payments, asset

related payments, etc.

Select multiple invoices / credit notes and process for payment in a batch either

centrally or in a decentralized manner.

Make payment requests in any currency irrespective of the document currency.

Define Pay group with respect to date range options, viz., Financial Year,

Financial Period, Monthly and within a date range or additional criteria like week,

fortnight, etc. Define Pay group with respect to document type (like invoice, credit note etc.)

pay mode, PO number, Currency and Amount, Document number, Supplier,

organization unit in which the invoice is created, Supplier priority, documentpriority and amount range.

Specify the voucher criteria for generating the payment vouchers namely, pay

type and pay mode (in the form of Pay Order, Check, demand draft, Direct Debit,

electronic payment, etc.).

Default the invoice pay mode as the pay mode for payment vouchers.

Specify the maximum amount payable and the maximum number of invoices that

can be paid under one payment voucher.

Retrieve documents based on parameters such as type of the document, document

subtype, payment mode, date range, document currency, electronic payments and

the priority attached to the document

Create a prepayment voucher with single or multiple Purchase Order reference or

even without reference to a purchase order.

Generate automatically prepayment vouchers based on Purchase Order terms(single or staggered event based prepayments)

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Generate a payment batch by including multiple invoices and credit notes of oneor more supplier(s).

Specify the Pay date in which the payment is to be made.

Specify details of remit address.

Select documents for payment in a pay batch based on supplier priority and/ or

document priority (Using the Pay group number).

Edit the payment amount for a particular invoice / credit note for an amount equalto or lesser than the amount outstanding (partial payment).

Check if the supplier has a debit balance (as a customer) upon which the user

would be provided with the option to either proceed with the transaction (Ignore)or abort the transaction (Hold).

Check if the document selected in a batch has a corresponding prepayment. In

case there exists a prepayment the user would be provided with the option toeither proceed with the transaction (Ignore) or abort transaction (Hold).

Record reasons for holding prepayment vouchers.

Scheduler for making automatic payment runs at user-specified time intervals.

Schedule automatic payment run with support for maximizing discount /minimizing penalty.

Record and view receipt details given by the supplier.

Specify the bank through which payments to be made or whether it is a cashpayment.

Check the available balance or bank credit limit with option to hold a voucher in

case of insufficient balance in the selected bank/ cash account.

Specify whether payment or instrument charges are to be borne by the payer or

payee.

Specify past or future payment date for bank payment and future payment date forcash payment.


bank account in a single payment batch.

View the Cash/ Bank balances (for a selected currency) and allocate the voucher

amount against cash / bank account.

Validate amount payable through each bank, with the credit limit available for thebank. Also in case the limit is exceeded, the user would be provided with the

option (through a process parameter) to either proceed with the transaction

(Ignore) or abort the transaction (Hold)

Check whether amount is within the account limit or budget se, with option tohold a payment voucher in case the account limit is exceeded.

Supplier Balance Adjustment

Match one or many payments or debit documents relating to a supplier against

one or more credit documents in the same currency.

Match one or many payments to a supplier in one currency against one or morecredit documents in a different currency.

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Adjust debit documents, either manually or automatically, against creditdocuments of a supplier even if the supplier is in inactive or hold status.

Reverse a supplier adjustment voucher, leading to restoration of the original

supplier debit and credit documents.

Automatically calculate discounts available for the credit document and claim

current discount in proportion to the amount adjusted / paid.

Post accounting entries to record exchange rate variances arising on adjustment offoreign currency outstanding and payment currency adjustment.

Provision to automatically write off small residual values.

Calculate VAT on discounts received.

System-generated debit/ credit memo for discounts and charges arising out of

supplier balance adjustments.

Supplier Receipt

Record receipt types as either Regular or Deposits.

Make receipts against debit notes outstanding from a supplier.

Attach notes to the receipt recorded.

Reports - Payable

Avail standard off line reports such as:

o Purchase Journal

o Supplier Ageing analysis

o Supplier Sub Ledger

o Supplier Statement of account

o Transaction List - Payable

o Payment Due Listing

o Supplier Due Date Analysis

o Supplier Balance Inquiry

o Discounts Lost on delayed payments

o Realized / unrealized Exchange Gain / Loss

o Held Documents

o Supplier Suspense account reconciliation

o Print supplier receipts, credit / debit notes.

FIXED ASSETS

Asset Type Definition

Define asset classifications based on the requirements in respect of accounting.

Specify the inventory cycle for assets belonging to a class.

Indicate whether the assets belonging to a class are depreciable or not.

Define common asset classes across multiple companies.

Group individual assets into Asset Groups for MIS Purposes.

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Define asset groups in a multilevel hierarchy i.e. parent child groups.

Asset Location

Define asset location in hierarchy i.e. parent child locations.

Maintain n levels of asset location.

Insert new levels in the asset hierarchy at any point (i.e. even after adding child

locations).

Maintain asset locations other than company locations such as customer location,

contractor location etc. (based on quick code definition).

Create or modify asset locations in bulk.

Define common asset locations across multiple companies.

Asset Depreciation Setup

Maintain user-defined depreciation rules for calculating depreciation with

different combination of rates/ methods/basis/limits and conventions. Process depreciation with the following depreciation methods: Straight Line

method, Declining Balance method and Sum of Years digit method.

Define multiple depreciation books to cater for different purposes, e.g. books for

corporate accounts, taxation, costing, management reporting, etc.

Maintain depreciation rate both as annual rate common across useful life of asset

as well as varying yearly rate (varying rate not supported for declining balance

method).

Indicate validity dates for depreciation rates.

Define different financial calendars for each of the depreciation book.

Group assets into depreciation category based on common depreciation

parameters.

Define days in a month/year for depreciation calculation.

Include or exclude the processing date for the purpose of depreciation calculation.

Allow depreciation below book value for any depreciation book, except corporatedepreciation book.

Provide for Zero depreciation percentage.

Depreciate both at asset level as well as at asset tag level.

Charge depreciation on pro rata basis or using mid year, mid period or user

defined convention for each depreciation book.

View depreciation rules before deciding depreciation category to be created.

Assign different depreciation rules to different depreciation books for samedepreciation category.

Option to have a centralized definition for depreciation setup for multiplecompanies.

Define different depreciation rates for different date ranges in a year.

Account for block depreciation.

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Asset Planning

Define, modify, authorize and amend budget requirements for multiple asset

classes in multiple currencies and for each Finance book defined for a company.

Consolidate budget requirements and authorize budgets centrally at the company

level.

Option to create non-requirements based budget centrally and allocate to therespective Finance books.

Allocate the available budget amounts to Finance Books with provision to

indicate whether variances are allowed and the amount / percentage of the

variance or even specify variance as an unlimited amount.

Reallocate budget amounts by amending the original budget and track version

changes with every amendment done to the budget.

Create and authorize proposals against the budget amount for asset acquisitions

and disposals. Specify variance allowable due to exchange rate fluctuations on creation of

Proposals.

Amend and close proposals either manually or automatically.

Track Proposals of the types Asset acquisition through different stages of

commitment (When purchase order is raised), liability booked (When invoice,debit-credit notes or sundry payments are raised) and utilized when Asset ID is

created in the asset acquisition process.

Define the purpose of retirement during creation of retirement Proposals andindicate approximate sale value.

Asset Insurance Check whether all insurable assets are covered under at least one insurance

policy.

Insure assets under more than one policy provided the policy types are different.

Make blanket premium payments and apportion the same as and when the policy

details are available.

Maintain insurance policy details such as policy type, premium amounts, effective

date, and renewals at asset tag level.

Track premium amounts paid against a policy.

Track claims raised for assets written off or for damaged or lost assets identified

through asset inventory process, by recording the receivable and the settlementreceived against the same.

Asset Capitalization

Capitalize both planned and unplanned acquisition of assets, i.e. whether

supported with or without an acquisition proposal.

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Capitalize assets in an integrated environment (purchase, goods receipt, payableinvoice and maintenance components) or even as a standalone environment

without integration to other systems.

Create assets either singly or in bulk, using sample asset.

Maintain asset details like cost, depreciation category, in-service date at asset tag

level.

Capitalize multiple assets with reference to a single invoice or vice versa.

Allocate assets to the respective cost centers and assign to physical locations

during capitalization.

Create flexible asset identification numbers in two parts- the first alphanumericcharacters being user-definable as the main asset number and the numerical asset

sub-numbers (or the tag numbers) as the second part that is auto-generated.

Indicate the utilization of assets by specifying the percentage used for businesspurposes and enable partial capitalization.

Capture additional information relating to an asset like Model number, SerialNumber, Manufacturer, Supplier details, warranty, number of units, custodian

details, transaction currency and exchange rate.

Capitalize original cost of the asset along with related expenses.

Indicate in-service date at asset tag level.

Capitalize assets in current period with retrospective effect for in-service dates

falling in closed periods.

Post-capitalize assets at tag level at any time after initial capitalization.

Authorize asset capitalization either singly or in bulk.

Assign expenses or part of an invoice towards asset capitalization or capital work-

in-progress creation.

Convert capital WIP to regular asset on completion of work and asset is put touse.

Reverse assets that are capitalized.

Capitalize exchange rate variations arising on payments for asset acquisitions.

Capitalize exchange rate gain / loss arising on revaluation of supplier liabilities

outstanding in foreign currency against purchase of fixed assets.

Validate details of asset partially against purchase invoice and goods receipt.

Reverse invoices for capital items, whether order-based or direct.

Split the asset tags, in terms of both quantity, value, depreciation and other

details, into additional tag numbers even after initial capitalization.

Use facility provided by capital journal voucher to capitalize expenses and otheradjustments.

Support for recording transaction in parallel currency.

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Asset Disposal

Retire assets, either through sale or write-off, based on single asset identification,

tag number/s, range of assets or asset tags, and asset class.

Retire assets with or without reference to a proposal number.

Record breakup of sale proceeds of assets at tag level and indicate whether the

mode is cash or credit.

Specify customer code / information while retiring the asset through sale and

indicate whether an authorized invoice or one pending for authorization is to be

generated automatically through integration with the Receivable application.

Automatically retrieve information such as original cost, cumulative depreciation

till date and book value on assets retired and display the system-calculated profit /

loss on sale / retirement.

Indicate, for assets written off, whether insurance claim is to be recorded or not.

Preview depreciation charges up to the date of retirement, calculated from the lastdepreciation run.

Transfer assets, either in whole or in part, based on single asset identification, tagnumber, range of assets or asset tags, and asset class.

Transfer a single or a range of assets from one location / cost center to multiple

locations / cost centers or vice versa.

Reverse entries for asset transfers and retirement.

Asset Depreciation process

Process depreciation using any or all of the following methods: Straight Line

method, Declining Balance method and Sum of Years digit method.

Calculate depreciation on any date of the financial year, for a single asset, assetclass, depreciation category or assets under a cost center and also for multiple

periods concurrently, including previous financial period/s, if selected for

depreciation calculation.

Option to calculate depreciation for the whole of the financial period, or up to

current date, whichever is earlier.

Include / exclude the processing date for the purpose of depreciation calculation.

Perform depreciation calculation in total (for all tag numbers) at the main asset

number level or at the individual asset tag level.

Define days in a month/ year for calculating depreciation.

Charge depreciation on pro-rata basis or using mid year, mid period or user

defined convention for each depreciation book.

Modify / assign assets to depreciation asset category.

Preview depreciation amount through a simulation process before actualdepreciation processing and posting to the books.

Identify assets that have not been covered by the depreciation run and perform

depreciation processing for those assets.

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Post depreciation entries into the relevant account codes / cost centers in theFinance books and to the tax book after completion of processing. Identify cost

centers separate from that of the asset cost center to enable collection and

allocation to other cost centers.

Process block depreciation.

Allow depreciation below book value for any depreciation book, except corporate

depreciation book.

Capture suspension dates for the purpose of depreciation (ex. if the asset is

temporarily out of service due to major overhaul, suspension dates can be setup).

Multiple suspension periods can be setup in a period.

Allow for depreciation adjustment for exceptional depreciation (like change

depreciation of years prior to FA installation date).

Process depreciation for assets whose in-service date is in closed period. The

depreciation for the asset will be posted in the period when the asset is

capitalized. Process depreciation as a batch job using the Scheduler and view statistics for

assets selected to be processed.

View process status and the error log file for the exceptions thrown up during

processing.

Project the depreciation charges for prospective financial years, for estimatedpurchase of assets.

Support for block depreciation.

Calculate depreciation implicitly during the process for asset disposal andtransfer.

Reverse depreciation before closing of period/year.

Simulate change and process change depreciation with retrospective effect onmultiple closed years or for a particular financial period or year.

Simulate the effect of changing depreciation rules for any defined period or user

defined periods for existing assets as well as proposed purchases underacquisition proposals.

Asset Inventory

Specify / modify the inventory cycle during asset capitalization or at any time

before start of inventory.

Select locations for inventory verification either singly or up the location

hierarchy and based on asset class, finance book, cost center or asset values andgenerate inventory sheets for easy verification and recording.

Freeze asset transactions during physical inventory check, so that no transferins,

transfer-outs and retirement are possible and short close inventory sheets forreleasing frozen assets.

Verify physically inventory of assets in various locations, either manually or

using bar code reading devices and track assets that are overdue for inventory, lostassets or extra assets lying at a location.

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Reconcile physical verification differences by updating the status of the asset forinsurance and retirement purposes or by recording transfers from one location /

cost center to another and confirming receipt from the latter.

Option to ensure that the Financial Year cannot be closed without completing theinventory verification.

Asset Migration

Capture Asset History through initial asset entry.

Verify initial asset entry sum of asset cost, cumulative depreciation and

revaluation surplus is identical to that in the finance books, by verifying the

balances in the fixed asset control account and the total of the entries in the FixedAssets sub-system.

Capture the legacy asset number with a facility