Finance Module of Discrete Manufacturing ERP

This module not only takes care of security but also integrates strongly with other modules of New Horizon. Instant automatic postings from other modules into the Finance module eliminates paperwork and prevents duplication and discrepancy of data. All business transactions are recorded according to the document principle, which provides an unbroken audit trail from the financial statements to the individual documents. Debtor and creditor accounts for customers and vendors are created automatically while defining them in respective modules. Strong integration with the Purchase module and Stores & Inventory module ensures data accuracy during payments and ledger postings. Apart from regular accounting, a strong collection of MIS and statutory reports help the management in making strategic decisions.

Benefits of Finance Module ERP Solution

  • Integrated finance gives you total control over the entire organization
  • Eliminates data duplication and redundant entries
  • Role-based security ensures defined access to secure data
  • With Control Accounts, get to know your pending liabilities and pending assets

Key Highlights

  • Integration with material movement
  • Every job is treated as a Profit Centre
  • Facility to define multiple Cost Centres
  • Facility to assign expenses to Profit Centres and Cost Centres
  • Instant automatic postings from other modules
  • Unbroken audit trail from the financial statements to the individual documents
  • TDS calculations
  • Facility to keep two consecutive financial years open
  • Sales/Purchase Registers reflecting GST details
  • Facility to create subsidiary ledgers for creditors, debtors and employees in the general ledger
  • Maintenance of accounts under account groups and sub-groups
  • Up to two levels of sub-groups under each account group
  • Customisation of names and order of the account Groups in which the trial balance, profit & loss account and the balance sheet should be printed
  • Maintenance of all day-to-day vouchers or paper-based transactions such as Bank Book, Cash Book, Sale Book, Credit Note Register, Debit Note Register and many more
  • Maintenance of transactions that do not require any purchase formalities in the form of miscellaneous transactions
  • Maintenance of day-to-day transactions made with various banks along with the facility of online remittance
  • Maintenance of day-to-day transactions made in cash
  • Facility to pass a vendor’s bill for goods/services received from vendors against the Purchase Orders
  • Raising of credit/debit notes to both creditors and debtors
  • Remittance for the debtors and creditors to adjust the transaction amounts against the invoices and bills respectively
  • Reversal of journal and miscellaneous transactions even after authorization
  • Maintenance of C-Forms issued to vendors and received from customers
  • Reconciliation of physical Bank Books with system Bank Books
  • Maintenance of purchase transactions without any purchase formalities against which tax benefits can be availed
  • Generation of Profit/Loss Journal Voucher by reversing net balance of income and expense accounts
  • Cheque book maintenance as well as printing
  • Sales/Purchase registers reflecting GST details