The financial module is the core of iTexClouds ERP system. It gathers financial data from various departments and generates valuable financial reports. Reports such as general ledger, trial balance, balance sheet, quarterly financial statements and many more.
This module of iTexClouds will take care of all accounts related entries and their impact on the whole system. How finance comes and how it is been utilized. The total flow of money (Cash/Bank) and total expenditures will be reflected here in this module. As an aftereffect of this, the management will be able to take their important financial decision and Budgeting. They can come to know about the company’s financial position at any moment.
All sorts of important financial reports like,
- Trial Balance
- Trading A/c
- Profit & Loss A/c
- Balance Sheet
- Debtor’s Balance
- Creditors Balance
- Cash/Bank Fund position
and many more are covered in this module.
- General Ledger (G/L)
The General Ledger module is the foundation of your accounting system. General Ledger integrates with all modules and is the key to maximizing the efficiency and accuracy of your financial data.
- G/L Security
The G/L Security enables access control. Organizations can control which users can view or use certain general ledger accounts.
- G/L Consolidations
G/L Consolidations lets you transfer and merge the General Ledger account. It merges transaction information between separate companies and units. G/L Consolidations provides a feature set that allows your company to define the level of detail to join and provides a comprehensive audit trail.
- Profit Tracking
Tracking your profits will show you where the majority of profits are coming from, while also determining the return on investment for any buy.
- Accounts Payable
Accounts payable will manage all of the funds your company owes to your vendors and other creditors. An accounts payable feature integrates your payable data with your purchasing system so you can take control of your cash flows.
- Accounts Receivable
Accounts receivable allows your business to manage all of the fund customers owe them. It will track customer payments as well as manage invoices and cash.
- Fixed Asset Management
This solution tracks and manages all of your company’s tangible assets, such as manufacturing equipment, computers, company cars and office space. It will consider depreciation calculations, compliance requirements and tax implications.
Analytics provide real-time access to financial data, which is crucial for maintaining your finances. The visibility helps you make data-driven predictions and decisions concerning your company’s finances.
- Multi-Currency Management
If you have global clients, the ability to manage multiple currencies is critical. Multi-currency management automates the process of both buying and selling in foreign currencies. Currency conversion capabilities allow you to complete transactions in numerous different currencies.
- Tax management
Store system taxation settings and provide tax audit and tax reporting functions.
- GST Ready
- Improved productivity: Productivity will immediately increase once you start using iTexClouds Financing accounting module.
- Complete financial transparency: The analytics dashboard and GL will provide authorized users with everything they need to know about your organization’s financials.
- Informed planning and budgeting: The analytics and reporting function will allow you to forecast costs and potential revenue, then design your budgets accordingly.
- Real-time financial monitoring: From a start to end, you’ll always know what is going on within your financial division at that precise moment.
- Minimized human error: Accounting mistakes such as data entry errors are common but can be detected and avoided with the help of iTexClouds ERP financial module.
- Organization and tracking of electronic invoices and financial documents: The digital format in the module prevent misplacing or losing critical financial documents, and they will automatically be filed into the proper place.
- Mobility: With our cloud-based iTexClouds system, you’ll be able to access your financial tool anywhere, anytime.
- No missed payments: Accounts payable will notify you of upcoming payments.
- Centralization: The GL is the main hub; you can access all of your company’s financial information in one place.