Recognize revenue based on supply chain event. Monitor trade lane profitability with month
end closing through finance MIS reports. Control credit exposure through credit
management.
Allows timely month end closure along with a view to AP/AR with strong adherence to
accounting standards.
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Revenue Recognition
- Revenue Recognition is captured through accrual accounting concepts as and when the supply chain event is completed as per the contract with the customer/agent
- An Invoice can be raised on time and directly captured into the accounting books
Job Costing with Provisional Control
- Option to enter the Contractual Rates at the time of booking for both Buy & Sell
- These rates will be converted into Provisional Revenue & cost when it is converted into the job
- Control in place to actualize over and above provisions
Job Profitability
- Service, Trade lane and Salesperson wise profitability report can be generated for the given period. Individual Master or Shipment profitability can also be viewed
Month-End Process
- The system has a control process to review & close the Jobs on time
- System supports all the controls which are required to comply with statutory laws & regulations
Finance MIS Reports
- Trial Balance, Profit and Loss Report and Balance sheet can be generated for the given financial period by group, company, and division
Accounts Receivable
- Option to raise an invoice in both local & foreign currency
- Option to raise multiple invoices for different services or consolidated invoice for multiple services
- Console invoice for the specific period
- Periodic payment follow-up triggered by the system
- Collections can be recorded & JV will be passed for any exchange difference automatically
Accounts Payable
- Option to book Supplier/Agent invoices
- Control in place to check the provisions. Review & Approval can also be enabled
- Payment can be initiated on the respective currency
Credit Management
- Set credit terms either in days or in amounts or both for customers
- Access control in place to set the credit limit in various levels within an organization
Document Release Control
- Check the invoice before releasing the documents to the customers
- Validation in place to check receipt for cash customer & available limit for credit customer
Statutory Compliance
- Provision to generate statutory outputs like VAT filing for the Middle East, MTDVAT for the UK, GST reports for India
Asset Register & Depreciation
- Option to maintain the assets & its value
- To map the depreciation schedule
- System will auto pass the depreciation JV as per the mapping
Automation
- Provision to auto reconcile inter-branch entries
- Option to execute Supplier Invoice Reco
- Auto adjustment on exchange differences
- Automatic cost proration from console level into individual shipments
- Auto bank Reco
- Auto month end/year end exchange re-valuation
Cost Allocation
- To allocate cost by GL/employee
- Auto distribution of cost between multiple divisions/branches
Budget
- Option to allocate budget for GL or cost center
- Provision to pull budget vs actual with the above parameters
