Why is Akaunt the best for advanced Financial Management?

Akaunt provides you the capability to generate numerous advanced and critical Management Information system reports and analytical tools, thereby facilitating better management, effective control and well-informed decisions. Following are the some of salient features, which makes Akaunt best for advanced financial management.

• Multiple companies
• Multi-Currency
• Multiple Financial year
• Multi-columnar reporting
• Memo Vouchers
• Post dated Vouchers
• User defined Vouchers
• Sales and Purchase extracts
• Cash Flows
• Daily Balance & Transaction Values
• Interest calculations
• Percentage Based Reporting

Multiple companies

In Akaunt you can create and maintain multiple companies. Not only, can you maintain all the companies / branch companies in Akaunt, but you can also maintain your personal accounts as well. Akaunt allows to handle Companies concurrently i.e. You can load more than one company and work on one or all of the companies loaded simultaneously, by toggling between them, as and when required. Akaunt also allows you to make use of group company feature wherein you can create a group company with member companies and generate consolidated reports for the entire group as well as individual constituent company.

Multi-Currency

Many Organizations have transactions in more than one currency. Such transactions have to be recorded either in the base (home) currency or in the foreign currency. If the transactions are recorded in home currency, the rate at which the foreign currency is exchanged should be recorded as well. Akaunt allows you create and transact in multiple currencies. Akaunt uses the term base currency for the currency in which your account books are kept. Foreign Exchange is used inter- changeably with foreign currency. The base currency is specified while creating the company. Akaunt makes it easy to manage multiple currencies, automatic calculations of exchange rates, automatic conversion of any currency used to record a transaction to the currency of the account, etc. You can generate an invoice for your foreign customers in their currency and also receive payments in the same or different currency. The impact of gain or loss in Forex is reflected immediately. You can also view and print Reports and Ledger Accounts in the currency of the transaction that has been entered or base currency.

Multiple financial year

In Akaunt , you can have any number of financial years for one company. At the time of creating the company, it is necessary for you to mention the beginning of the financial year. There- after, you can maintain accounts for any number of periods. For example, assume you have created a Company starting from 1st of April 2008. Now, if you wish to change to the next financial year, you have to select F2: Period(Alt+F2), from Gateway of Akaunt and specify the date range as 1-4-2009 to 31-3-2010 and continue with the transactions for the next financial year. Once you have information for multiple years in a single company you can easily toggle between different financial periods, by selecting F2: Period(Alt+F2) option or can view reports for a period which could span across multiple financial years, for e.g. you can view a report consisting of transactions for the second half of the previous financial year and first half the current financial year.

TIP

In the new financial year, the non revenue closing balances ( Balance Sheet values ) are automatically brought forward as opening balance for the current financial year. Also if, for some reason due to Audit entries the values are affected in the previous financial year, the changed values are updated auto- matically in the current financial year.

Multi-columnar reporting

In Akaunt, you can compare information using multi-columnar reports. You can view / compare information for multiple periods (year, month, quarter or any specified period), multiple currencies and so on for the same company or compare information for two or more companies in the same screen without toggling between different periods / companies. This flexibility and ease in comparison of information will help you to do meaningful analysis and bring out any exceptions immediately.

TIP

You can also select a date range, by pressing Alt+C (New Column) and specifying the period and then compare data of companies

Memo Vouchers

Memo Vouchers are non-accounting vouchers and entries passed using such vouchers do not affect the books of accounts. Memo vouchers are used when you have to make suspense payments or make a transaction for which you do not have complete information. In Akaunt, such vouchers are not posted to ledgers but stored in a separate register. However, you may modify or convert memo vouchers to regular vouchers, when you decide to bring them into your books.

Post dated Vouchers

Akaunt provides the capability to enter vouchers in advance for future transactions, that are definite in nature. The vouchers marked as Post dated does not affect the books of accounts till the date specified in the voucher. This facility is extremely useful when the user has issued or received post-dated cheques and does not need to modify the voucher to reflect the transaction on a particular date.

Sales and Purchase extracts

In Akaunt, you can generate extract of the report on Sales and Purchase Registers. The extract report provides you consolidated figures for both debit and credit balances for all groups and ledgers. With this report you get the complete Sales / Purchase Turnover figures for any period.

TIP

To generate day-wise extract of Purchase, in F12: Configure of the Purchase Register screen, set Periodicity to use to Daily.

Cash Flows

Akaunt provides you with a cash flow statement to track the movement of cash flow i.e. cash inflows as well as cash outflows (both cash & bank included) of your business. The report also displays a net flow for any period.

TIP

To generate Daily Cash Flow Statement, press F4. To view informaton on the average cash inflow/out flow for any period, in F12: Configure, activate average details.

Daily Balance & Transaction Values

You can view cash/ bank books and ledgers on a day-wise basis to get information on the total transaction value and closing balances. You can also view daily average details as well as high and low details for the month in the same report.

Interest Calculations

Akaunt provides a powerful capability to calculate interest on outstanding balance amounts and oustanding bills/invoices/ transactions (Receivables and payables) or on any delayed payments so on. You can view the impact of interest accumulated against each ledger and also against each trans- action. Although, Akaunt provides exhaustive information on interest implications, the interest amounts are not brought into books. You may choose to book the interest calculated as per your requirements. Interest is calculated either on simple or compound basis and accounted into the books, by using debit notes for interest receivables and credit notes for interest payable. The Activate Interest Calculation field is displayed in the Ledger Creation screen only, if Activate Interest Calculations is set to Yes in F11: Accounting Features. Set this field to Yes for each specific ledger account for which interest is to be calculated.

Percentage Based Reporting

In Akaunt, you can generate percentage based reporting for financial statements like Balance Sheet, Profit & Loss, Cash Flow, Sales register etc. For example, to view percentages for all groups in the Balance Sheet, set Show Percentages to Yes in F12:Configure.