XScribe's Accounting Module allows your company to quickly generate financial statements with just a few clicks.
This module allows your company to set-up its multi-level chart of accounts, having a parent-child relationship. Journal entries can also be encoded or automatically generated from varying transactions connected with the Accounting Module.
This module also allows your company to generate a Trial Balance, Income Statement, and Balance Sheet which is pulled from the journal entry transactions. The system also allows you to analyze the performance of the company through the various financial ratios in the system.
The Accounting Module is linked with the other modules of the XScribe ERP such as the Sale, Purchase, Inventory, Expense, Manufacturing, Fixed Assets, and HR Modules.
- Chart of Accounts
- Journal Entry
- VAT Remittance
- Withholding Tax Remittance
- Income Tax Remittance
- Trial Balance
- Income Statement
- Balance Sheet
- Automatic Journal Entries coming from the Sale, Purchase, Inventory, Manufacturing, Expense, Fixed Asset, and HR Modules
- Multi-company, multi-branch
Set-up your chart of accounts
XScribe's Chart of Accounts database allows you to set your chart of accounts, set codes for it, and create a parent-child relationship to it. The system has a multi-level parent-child hierarchy to allow your company to create a multi-level financial statement.
Record journal entries
Journal entries are automatically created from the various transactions of the Financial Management System. If adjusting entries are need to be created, manual adjusting entries can also be encoded in the system. The journal entries have a branch, and also a company context to allow your company to create financial statements per branch, and per company, or have a consolidated financial statement.
Remit taxes through the Remittance feature
The Accounting Module generates all of the input vat, output vat, tax credits, and tax withheld from the supplier created from the sale and purchase transactions of the system. The system has an itemized breakdown showing which transaction the tax came from, how much the amount is, who the supplier or customer is, and whether the tax has been remitted or applied already to the company. The Remittance feature enables your company to create a request for payment for these taxes, and also creates automatic journal entries for the remittance transactions.
Create your Trial Balance, Income Statement, Balance Sheet
Financial statements can be easily generated in the system with just a few clicks. You just have to set the date range that you want to generate a financial statement for, choose if it is per branch, or choose if it is a consolidated financial statement. Several date ranges can be set to have a side-by-side comparison of the financial statements. On top of this, because of the multi-level chart of accounts hierarchy, you can easily create multi-level financial statements.
Analyze your financial performance through financial ratios
The system has a financial ratio report which allows your company to have an overview of the company's liquidity, profitability, financial leverage, and asset turnover,
Integrated with the Sale, Purchase, Inventory, Expense, Manufacturing, Fixed Assets Modules, and HR System
The Accounting Module is connected not only with the other modules of the Financial Management System but also with the HR System; the journal entries are also generated under the HR. Because of its link with the other modules, the task of manually recording journal entries in the system is minimized, if not eliminated.