Financial Management
To manage finance effectively is the axis of any successful business. There are many factors to take into consideration while managing finance of the company. Those factors include mandatory regulatory compliance, global socio-political trends and company’s own financial policy. Generally financial management includes:
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Maintaining general ledger journals
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Monitoring of fiscal reporting
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Maintaining sophisticated fiscal reporting
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Enterprise performance management
10Soft Solutions to manage finance effectively
10Soft Solutions are tailored in such a way as to manage finance of the companies effectively. The tools and controls endeavor to automate and streamline the financial processes of a specific business. 10Soft financial management solution
10Soft Solutions to manage finance effectively
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Allows to create hierarchical accounts. For example, If an asset account is opened, users can open sub accounts such as current assets and then another category of cash account. This way users can create end number of dynamic accounts
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Offers data for each of the cost center which can be used in businesses. Cost center classifies each and every transaction that is performed on certain account. This information is stored dynamically.
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10Soft's financial management module lets the user store information of account category of each dynamic account. This account category is used in businesses and generates balance sheet, profit/loss sheet and trial balance report based on the configuration.
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With the generation of balance sheet, the managers can see the assets, liabilities and ownership equity. This way, they can make informed financial decisions.
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It provides analysis code which is useful for businesses in conducting market research, purchase and sales analysis, employee analysis, accounting, fixed assets, bank analysis etc.
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10Soft, ERP system, offers the users to see current year balance, current year budget and previous year balance by monthly summary of selected account. Based on account hierarchy, the solution calculates balance and budget for parent account and shows summary of all sub-accounts in debit and credit amount.
More Features of 10Soft Solutions to manage finance effectively
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The solution also displays income statement for revenues that is generated for a stipulated period. With this feature, managers can see the cost and expenses charged against these revenues, including write-offs and taxes.
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The solution facilitates to generate one type of document again and again. For example, it is possible that every month, one needs to have the same document, such as document for monthly rent or others. This feature will allow users to create such recurring documents automatically.
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It also facilitates creating various vouchers like receipt, payment, exchange, opening entry and ,budget voucher.
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The feature gives option of multiple languages and multiple currencies so that companies all across the world can take advantage of this solution. This makes this solution overcome the limitations of language and currency thereby being useful to almost all the companies in the world.
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The solution also offers consolidation of financials of multiple companies. With this, trial balances are synchronized on a single consolidated financial report.
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Approval authorization to give actual account effect to documents entered at entry level
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Accounts Receivable, credit and collections management
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Accounts receivable is a single feature-rich system that handles billing, collection, payment processing, cash application, and revenue recognition.
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It maintains total audit trial on all entries and changes thereby ensuring strong financial compliance
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Tax management
Benefits of 10Soft financial solutions
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Wider payment options makes consumer experience easy and friendly
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Provides streamlined and integrated order-to-payment and payment-to-reconciliation processes
10Soft, an ERP system, provides financial module to effectively manage company’s finance, accounting and sales. It typically streamlines all the financial data of the company making it accessible to all the employees of the organization.
