Accounts Management (Multi - Currency)

Fi-es Magnolia accounts is a true multi-currency, multi-divisional integrated accounting system that works perfectly with absolutely no redundancy. It enables the possibility to manage large volume transactions on sales front and inventory using with minimum resources. This system eliminates every possibility of having to enter data twice which otherwise would be a huge cost for any organization. Below are the main features of the system in the accounting side

Divisional Business Management:

Divisional Information Management (Multi-currency)
System helps organizations to manage sub companies or different type of businesses under one large company using this powerful feature called Divisional Information Management.
Divisional and consolidated Balance Sheet and Profit loss.
Divisional and consolidated receivable and payables reports.
Extensive user rights management to give all or limited access as per the requirement of the organization.
Divisional login to filter all reports for a specific division.
Easy toggling between divisions for quick data entry for those who has rights to enter multiple divisions.
General ledger accounts can be made available to individual or multiple divisions depending on the business requirement

Account Payable:

All types of bills can be entered against the expense accounts.
System allows making various types of payments, which links to relevant expenses for controlled information management. Example: Imports or purchase payments will get updated into the costing of the related purchase.
Make advance payments to vendors
Settle individual or multiple vendor bills against advances paid using a feature called vendor settlement.
Make payments against individual or multiple bills
Generate individual or group vendor statement report which shows complete transactions details.
Generate individual or group vendor outstanding report which show the balances and age analysis at the bottom.
Issue post dated cheques and 0 value cheques.
Vendor Age analysis –
Summarized for all vendors
Detail for all vendors.
Individual vendor wise age analysis

Account Receivable:

Make advance receipts for customers.
Settle individual and multiple invoices against advances paid using a feature called customer settlement.
Generate Service Invoice and Product Invoice to customers.
Make receipts against individual or multiple invoices
Interface to support chasing credit customers to make payment on time. This feature greatly reduce number of resources required for this job,
Send email & fax payment remainders to all customers with single click.
Customizable Reminder letters.
Generate individual or group customer statement report which shows complete transactions details.
Generate individual or group customer outstanding report which show the balances and age analysis at the bottom.
Manage post dated cheques.
Customer Age Analysis –
Summarized for all customers
Detail of all customers
Individual customer wise age analysis

Cash & Bank Book:

Manage multiple bank and cash accounts in any currency.
Cash & bank book gets updated on payments and receipt.
Manage petty cash using a separate transaction designed for petty cash.
Reconcile bank accounts using bank reconciliation transaction.
Contra for transferring from one account to the other account.
Bank and Cash reports.

General Ledger:

System supports 5 different levels of Accounts Groups.
Account name can be created under any group level in any currency.
All transactions from different areas of business flow into a transaction called posting where it can be verified before posting.
Viewing of all transactions for a particular account

Purchase Management:

This module has all the transactions that are required to run an efficient Purchase department. Like all other modules in this module too system strictly maintains automation rules to eliminate work redundancy. Below are the key features available in this module.
Purchase Request & Purchase Order
Helps profitable purchase decisions such as which products to purchase and from whom to purchase.
When raising purchase order (PO) and purchase requests (PR) system checks for items that have gone below reorder and raises PR or PO automatically.
Requests for purchase can come to HQ from shops and such requests can be picked up when preparing the purchase order.
Handle part supply of Purchase request.
Enter Letter of Credit details into Purchase Order.
Generate purchase request.
Check for items purchased and in transit.
Purchase order listing.
Purchase History report.

Bills:

All item in purchase order flows to bill automatically when Purchase order number is selected in bill.
Update customs currency, customs duty figures and customs freight charges into the bills for helping costing.

Costing:

Costing is the process by which management user may calculate the cost of imported goods. It is an important transaction for company, as Profits depends on cost fixed for items sold.

All item in bill flows to costing automatically when bill number is selected.
Costing picks up the payments made against a related purchase order and apportions it automatically when asked to fix the cost.
The Item cost is fixed for goods purchased, taking into consideration all incurred expenses.
Updates the inventory cost by choosing which costing method is being selected for company.
Enables user to do the costing in minimum time as all information automatically flows into costing.

Dispatch:

Dispatching items to individual/multiple Warehouse or shops directly
System reminds user and open selling price fixing interface to fix selling prices right after costing is done, it shows old selling price and cost helping user to take decisions.
Powerful enquiry to check inventory across all shops and warehouses.
Item Movement (Fast/Slow)
Purchase Returns
Returning items that are damaged or spoiled