Page 33 - KIA Proposal v5

FiNAC - Software Solution
6.9 General Ledger

The Financial Accounting System is designed to manage the Companies financial information in an effective

manner. The system incorporates a vast number of outstanding features to give the maximum benefit to the
users and to deliver accurate information for effective business management and forecasting.

SOME OF THE OUTSTANDING FEATURES ARE MENTIONED BELOW,

User defined Accounting periods.
Support Multicurrency.

Supports 24 Accounting Periods: -This year accounts are shown with the comparison of
previous year values.

Provides for 12 months of budgeting.
Consolidation: -The system is designed to grow with your business from a little office in

Colombo to a global business decentralized by region, country, city, branch, sub branch etc… and to

monitor profitability at the lowest level of the sub branch, again decentralized to sub profit centers. Even
though the transactions are entered account wise, the system provides the facility to take consolidated
or cost centre wise reports.

Hierarchy of cost centers. Multiple levels of cost centers can be introduced with the ability to summaries

at any level. Maintenance of multiple divisions & further categorization under each division can be
achieved using cost centers.

User defined Accounts. The user can define the chart of account with the last 3 characters
as the cost centre.

Supports unlimited note and sub note fields. Notes & Sub Notes are in separate tables
thereby allowing users to create any number of Notes/Sub Notes.

Copy chart of accounts to new cost centre. After creating an account for a cost centre it
can be copied to a range of cost centers.

Bank Reconciliation. Bank reconciliation can be done for any bank on a daily, weekly or monthly basis
with ledger balances. The system generates a Bank Reconciliation Statement for a given date displaying

the opening balance, un-presented cheques, un-realized deposits and the closing cash book balance. This
could be obtained in foreign currency as well.

Automatic calculation of Realized & Unrealized Gain/Loss in Foreign Currency transactions.
Cheque Printing Facility for multiple banks.

On-line Voucher printing.
Integration of third party software to the Financial Accounting system.

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