Financial Management

SPEED-P optimizes the performance of the Financial Transaction process for Accounting and Finance Departments through flawless Financial Reporting that empowers effective decision making to control operating costs, accelerate cash flow and minimize the risk.

General Ledger

  • Easy creation of GL Groups, Cost Centers, GL Accounts and form multi-level chart of accounts
  • Multi-currency support and auto handling of Exchange Rate Variances, and Round-Off Variances for all the purchase/sales/payment/receipts transactions
  • System generated application journals for transactions
  • Recurring journals (fixed/variable): Offset the prepaid expenses / accrued revenues.
  • Monitoring Yearly/Periodical Operating Expenses Stock Valuation (Standard Cost, Market price, Moving/ Weighted Average Cost, LIFO, FIFO)
  • Trial Balance, Balance Sheet, P&L Statement, Fund Flow Statement, Cash Flow Statement, Ratio Analysis

Accounts Payable

  • Easy supplier bill registration for
    • Purchase GRN
    • Subcontracting GRN
    • Landed Cost
    • Expenses with deduction option of appropriate Tax
  • Easy to generate Debit Note/Invoice for the discounts, purchase rejection/returns, subcontract rejections etc
  • Easy generation of supplier statement and track balances in Foreign Currency/ Local currency
  • AP Aging Analysis
  • Generating bill registers
    • Bill-wise
    • Item-wise
  • Payments schedule alerts

Taxation

  • Provision to Update GST Rate revisions for the HSN/SAC codes
  • Automatic GST Calculation based on the Party’s GST Type and Billing Location
  • Reverse GST calculation for the unregistered suppliers
  • Customer-specific HSN codes to the same product
  • Tailored to meet all the statutory prescriptions of GSTR-1, GSTR-2, GSTR-3B, ITC-04 & GSTR9
  • GSTR-2A Bills Reconciliation
  • Scalable to incorporate any future change to GST regime
  • Scalable to incorporate country specification taxation as needed

Accounts Receivable

  • Invoice Registration (Sales Invoicing)
  • Credit Note for the sales return, discounts etc
  • Debit note for the interest
  • AR Aging Analysis Summary & Details in Foreign Currency/Functional Currency
  • Milestone based Revenue Recognition system for Receivables
  • Provision to update receipt date and calculation of aging based on receipt date
  • Dunning Letter
  • Collection History Reports to mitigate Credit Risk

Cash Management

  • Multiple bank accounts with different currencies of operation Preparation of payment voucher and payment through Bank/Cash BPV/CPV for
    • Supplier bills
    • Expenses
    • Processed Payroll
    • Employee Payables
    • Tax Authorities
  • Receipt against Customer Invoices/Revenue
  • Bank Charges/Earnings entry
  • Fund transfer entry between bank accounts
  • Clear/Void Payment/Receipt documents
  • Actual Vs Forecasted cash scenario
  • Bank book, cash book, and bank reconciliation statements
  • Cash receipt from multiple customers and single deposit