Finance Module Differentiators
Get faster revenue recognition, secure your profit margins and get audit and tax compliant with eFreight Suite
Faster Revenue Recognition
Revenue Recognition is captured through the accrual accounting concept. eFreight Suite enables Freight Forwarders with:
- Auto-triggers based on events, such ETA & ETD, to track and raise invoices on time.
- Rates shared with the customer are auto captured while generating job and these rates are also captured as provisional rates.
- Reduced Quote to Invoice Error: The ERP assures that invoices are raised based on the quotes shared with the customer.
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Secure your Profit Margins with Job Sign-Off Process
The ERP enables Customer service team to provide sign-off for job, if required profit margin is achieved. Only after sign-off, the invoices can be generated and costs can be booked.
Do More with Integrated Finance Module
- eFS ERP provides inter-module linkages ensuring effortless navigation of rates & costs from quotation to job. This enables us to capture reports at job level as well as finance level. This is not possible while working with different software.
- eFS ERP provides Segment-wise, Trade lane-wise, and Salesperson wise Job profitability reports for any desired period.
- Document Release Control: eFS has futures like checking for the invoice being raised before releasing the shipment. For example, for cash clients, BL / DO is to be released only after collecting the payment and for credit clients BL / DO to be released if the terms are within the credit limit.
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Tax Compliance Ready System
eFreight Suite is updated to meet all the tax compliance requirements. For example:
- Country-specific tax calculations such as VAT, GST, Sales Tax & TDS are available.
- UK MTDVAT can be filed directly from eFS
- UAE VAT FAF file can be generated from eFS
- For India, API based integration through GSP or ASP to report e-invoice details in JSON format to IRP (Invoice Registration Portal).
Audit Compliance Ready
Financial activities are linked with timelines. And eFS provides a control process to review & close the Jobs on time. To comply with statutory laws and regulations we provide document date-based restrictions. Upon closing of the job, user can't pass any actual entry into the job. These features help to lock the financial figures and restrict users to make manual changes once the document gets posted.
