Accounting Module
The Accounting module in Management 360 is designed to make financial tracking clear and organized for businesses. With features for tracking income, expenses, assets, and liabilities by department, businesses can analyze financial performance more easily. Cost-centres help manage expenses for different parts of the business, while the Chart of Accounts organizes all financial records in a consistent way. Manual Vouchers allow users to record special or complex entries that may not be automatic, ensuring accuracy in financial reports. Lastly, the General Ledger provides a complete view of all financial activities, making it easy to stay organized and ready for audits or reviews.
Sub-modules
The Accounting module consists of the following 5 sub-modules.
Departments
It allows organizations to track income, expenses, assets and liabilities by department, enabling optimized resource allocation across departments.
Cost Centers
It serves to track, manage, and analyze expenses related to specific parts of an organization, helping improve financial efficiency.
Chart of Accounts
It provides a structured framework for organizing, categorizing, and tracking all financial transactions within an organization. This setup ensures accurate financial reporting, and helps maintain consistency and compliance in financial records.
Manual Vouchers
Manual vouchers allow to record financial transactions that are not automatically captured by the accounting system, such as adjustments, corrections, unique or one-time events and ensures the accuracy of financial statements.
General Ledger
It serves as the central repository for all financial transactions, providing a comprehensive view of a company's financial activities. Additionally, the General Ledger supports compliance and audit processes by maintaining a detailed record of all entries and changes.
