More than one user having access to Acceasy and you begin to think 'control' - what are different users allowed to do. Some questions that arise are - Can user 'A' be allowed to make voucher alterations? Is he/she allowed to enter back-dated vouchers? Should he/she be allowed to print reports?
Acceasy security works on this concept - everything is open by default (full access). You progressively 'lock-down' the system as the need arises. We believe that this mimics real life functionality. To simplify the use of this system, you can define standard sets of rights and use these as stencils for specific users - adding or removing rights for that user, if required.
Almost all security and access needs are covered by default. In case you require additional controls we can customize the software as per your needs
A 'financial year' is truly suited to business reporting and statutory needs. In reality, business spans across financial years, so ‘real needs’ get constrained by these financial periods.
As an example, receivables (Sundry Debtors) is an area that is frequently plagued by 'confusion' - the need to send reminders, resend statements of accounts and persistent follow up - may require that you need to look at figures from date 'x' to date ‘y’ - and one or more financial periods can be between these two dates. With Acceasy, you can specify any date range and perform any operation that you need to.
Comparison of Periods, say Q2 this year vs. Q2 last year, often required for shareholder and statutory reporting are easily accomplished.
You may also need to break up periods into smaller chunks, instead of the 'year'. While looking at the reports, you can instantly view them broken into periods of your choice (daily, monthly, quarterly etc). For studying trends, locating unusual figures, or comparing activities for different periods, this is invaluable.
In effect you can 'zoom out' as well as 'zoom in' to any period of your choice.
Any changes made or a transaction inserted anytime, are instantly carried forward - no matter how far back these are made (from a security standpoint, you might need to restrict data entry or changes to transactions prior to a specific date - this is available via the User security control features).
Cost (also called Profit/Department) centres are organisational or budgetary units. Amounts are allocated to these centres for additional requirements of reporting, budget and control...
First a simple example - the monthly electricity bill needs to be allotted to three different units in some proportion, while the total wages need to be allotted differently - all this, so that you can get to keep tabs on the expenses for each unit for office expenses. These three units are the cost centres or department in Acceasy you can also set up budgets for them.
A more 'complex', yet practical example would be the need to allot an expense to more than one set of cost centres. Let's say you buy vehicle insurance for several vehicles and need to allot these to:
• Different business units which use these vehicles - to record expenses against these units
• The vehicles themselves - to record the moneys spent on each vehicle
• The class of uses - to record the amounts against vehicles for people movement and material
The above three become Division in Acceasy, and there is support to record all these in the same voucher - without the need for additional entries and journals. With this you need to maintain only one accounting ledger - 'Vehicle Insurance A/c' and have the ability to monitor expenses by business units, vehicles and class of use.
As a business transacting in multiple currencies, you will appreciate the effortless usability of Acceasy in this area.
Say, you make purchases from a supplier, and transact in a currency different (say $) from that of your base currency (say INR). You’d like to keep track of the dollars due, as well as the $ amounts due for each bill. This way you get to know your foreign currency requirements as well as cross check the accounts in $.
At the same time you would want to see outstanding and other financial reports in INR. Since this figure depends on the exchange rate as on the date of the report, generating these are time consuming. With Acceasy all reports are generated automatically - all that is needed is that the forex rates be available for reference.
Foreign exchange gain & loss entries are 'posted' automatically (as a notional entry), whenever any report is taken. The day you decide to make these entries regular (say end of the financial year) you can post the required accounting Journal (with software assistance).
Importers and exporters maintain bank, customer & other accounts in foreign currencies (like the example of the supplier) - you can maintain these in any currency required.
As a branch or subsidiary of a foreign entity, or for reporting, you may need to generate reports in a currency other than the base, at some exchange rate. This capability is available across all reports.
You may need to compare companies having different base currencies - switch one company to use the currency of the other, or switch them both to a third!
Basically, every amount field in a Acceasy voucher is multi-currency enabled. This allows you to conduct business in ways that manual systems permit and most IT systems fail to provide. It is possible for a supplier to, say, send a quote for items in INR, some in US$ and some in €.
Most businesses will use several units of measure, even if the belief that just one (pieces) is used.
Take purchases - you could order in the units you are comfortable with, and you receive goods in a different unit - for e.g., order in Pcs, receive in KG's. Similarly you could record sales in the units that your customer is comfortable with. The flexibility of this 'compound' unit of measures is to ensure that Acceasy does not get in the way of your way of working. Like in the case of multi-currency, every quantity field is inherently multi-unit ready.
Some commodities, say cotton, have 'peculiar' problems - the unit of stock used for this commodity is 'bales', yet trade is in Kg's. With changes in weather, cotton looses or gains weight due to changes in moisture content. If you used Kg's for your records, you would loose the ability to manage stock count and stock take of bales; if you used bales, you would have a mismatch in the actual quantity transacted. This problem is compounded in real life – since each bale carries a different weight of cotton.
With Acceasy you can manage all these, with the support for multiple units of measure. Now, you can record both units in transactions – Kg's and bales at the same time. Stock valuation will be done in Kg's; inventory count can be managed in bales!
You receive some supplies - the Invoice shows 5 Pcs. and the actual count shows 6 Pcs.! Were you to enter your receipt as 6 Pcs., there will be a mismatch with the voucher and physical document which will result in an audit objection. Entering as 5 Pcs. would mean that one piece is not recorded... Acceasy supports 'actual' and 'billed' quantities - thus delinking the inventory count from the financial impact of the transaction. With this you can also receive and deliver free samples and manage the many variations that occur now and then.
Therefore compound units, alternate units and billed/actual quantities should deliver the capabilities needed for most, if not all, of your requirements.
Even the simplest of organisations will have inventory in more than one physical location. As organisations get bigger, inventory will require active 'management' with more warehouses (godowns, as we call it in India), racks & shelves and stocks at project locations.
Take the case of multiple sales outlets, each with one godown. Each purchases items at different prices and sells them over time. You need to take a call on the value of stocks at each of these outlets as if they were independent units - and not apply the company average. With Acceasy, each outlet will act as an independent unit from a costing perspective. Sales from each outlet will reflect the appropriate cost, and not the company average (which can skew profitability of both outlets).
Seen at the company level, the cost behavior ignores these godowns - making reports and financial analysis appropriate at that level.
Godowns can contain godowns - to allow management to the bin level.
For various jobs (projects) and sub-jobs, the use of godowns and cost centres in Acceasy give a high level of reporting and analysis - on inventory and financial aspects of jobs