iReckoner Finance

iReckoner Financials is a corporate financial management system that ensures effective management of financial transactions arising from dispersed physical locations with multiple currency transactions. Integration of all the information provides cross-functional and up-to-the-minute reports for quality decision-making. It is designed to offer you a holistic view of your company's finance-related functions.

iReckoner Finance


If you believe in managing your finances well, you will find an able assistant in iReckoner Financials. It provides total flexibility to its users to define their own parameters to suit changing business needs, such as a definable, flexible and a multilevel Chart of Accounts structure. It keeps track of the status of every financial transaction, of every voucher posted, of every debtor and creditor, of multiple currency transactions and even of the information on specific Cost Centres.


Account Payables and Receivables are prepared to adjust the Payables or Receivable transactions of an external party with payments made and/or received, and to monitor the pending transactions. iReckoner Finance has a flexible and effective process to generate Bank or Cash Vouchers for the payment to suppliers.
iReckoner Financials takes into consideration various processes followed by an organization. The process starts from Voucher entry, which could be system generated or manually entered. A Bank Payment Voucher is generated with payment processing and cheques are processed.

iReckoner Financials also covers the Posting to Reporting process. This begins with the General Ledger, which automatically prepares the Trial Balance, then the Profit and Loss statement, Balance sheet and Cash flow statement.

iReckoner's cost accounting provides an efficient mechanism of cost control. Cost centres can be defined in the system. iReckoner Finance interfaces with iReckoner Purchase for payment processing, Payable adjustments and cheque processing.
In iReckoner Financials Sales Voucher automatically gets posted from iReckoner Sales. iReckoner Financials covers the Invoicing to Collection process, which consists of collection of payment, adjustment against Invoice, generation of Bank receipt voucher and finally Posting of voucher.

iReckoner Financial comprises of


Features


Cost Accounting

  • Definable cost centers according to areas of responsibility.
  • Automatic generation of Cost sheets.
  • Allocation of estimated expenditure to cost centers
  • Supports allocation of expenditure to multi cost centers.
  • Supports both fixed and standard costing.
  • Integrated with GL and material modules.

Taxation

  • Definable different types of taxes.
  • Slabs can be defined for different tax rates.
  • Automatic deduction of TDS at the time of voucher entry.
  • Generates Tax Certificates on the basis of different types of taxes.
  • Association of accounts with tax for posting.

Financial Accounts

  • In iReckoner Financial you find an able assistant through various Statements like: Balance sheet, Profit and Loss account that are crucial to any organization.
  • Flexible statements on Assets, Liabilities, Income and Expense for weekly, monthly and yearly periods.
  • Definable set of Balance sheet and Profit/Loss.

Multi Currency Accounting

  • Multiple currencies can be defined in the system.
  • Manage transactions in foreign currency.
  • Automatically performs currency conversions into base currency.

General Ledger

  • Definable Chart of Accounts.
  • Flexible Definition of Financial years and Financial Periods
  • Enterprise view of financial information.

Receivables and Payables

  • Automated Payment Processing.
  • Adjustment of vouchers against Receivables and Payables.

Standard iReckoner Features

  • Online Authorization of Documents.
  • True Workflow based system.
  • In built Mail system.
  • Alerts can be set in the system to monitor exception activities or events.
  • Ensures people access only the information they need and are authorized to access.

Sub Modules & Reports List


General Ledger

  • Chart Definition
  • Currency
  • Financial Year
  • Journal Definition
  • Party

Forms

  • Voucher entry
  • Opening Balance Entry
  • Receivables Adjustment
  • Payable Adjustment
  • Cost Sheet

Statements

  • Trial Balance- Sub ledger, Account Trial
  • Balance Sheet/ Profit and Loss Account
  • COA Balance Sheet/ Profit and Loss Account
  • Expense Analysis Report
  • Asset Analysis Report
  • Income Analysis Report
  • Liability Analysis Report

Receivables/Payables

  • Receivables Adjustment
  • Payables Adjustment

Registers

  • Tax Register
  • Bank Books
  • Cash Books
  • Day Book
  • Sales Day book/Purchase

Taxation

  • Tax Processing