Financial Resource Management

Nothing Happens Until Money Changed Hand With Alpha FRM

Alpha FRM software - Financial Resource Management, Billing and Payment Collection system is an essential part of every business. Unfortunately, the traditional billing process is inefficient and costly...

You would start out with an electronic file that shows the status of a customer's account. You then have to print out statements and pay to have them mailed to customers.

Meanwhile, employees are needed to receive and process incoming payments and keep customer data current, all of which costs your company a lot of time and money.

To add to the problem, the monthly statement is the only chance many companies have to interact with their customers, yet it's nearly impossible to include precisely targeted or even personalized statement stuffer.

Alpha FRM Software Integrated Accounting

With an integrated Financial Resource Management - FRM software, a wealth of information is automatically channeled into the Finance Department by other integrated units in the organization. With all the improved business processes, full integration of various departments, controlled information of laser-precision accuracy flows within the organization.

The ultimate benefits from improved business processes and improved information provided by Alpha FRM software are reflected in the balance sheet of the organization and affecting the sock price of the company.

Alpha Financial Resource Management - FRM software:

• Reduced operating costs and reduce transaction costs.
• Increased liquidity and operational efficiency.
• Streamlined financial processes, including collection, financing, payment and settlement.
• Enhanced e-business strategy, linking financial processes with business partners and service providers.
• Increased transparency of business performance and strategic success factors.
• Accelerated response to the market changes that drive profitability and value creation.
• Empower managers and knowledge workers through state-of-the-art self-service and web-based portals and workplaces.
• Improved relationships with investors and stakeholders.
  Improved investor communication with online investor self-service.
• Enhanced access to accurate, real-time financial and performance information - even across enterprise boundaries and third-party systems.
• Improved understanding and management of intangible assets and intellectual capital.

How does Alpha FRM Software work?

General Ledger (G/L) accounts are the backbone of Alpha ERP system. All transactions that effect external reporting requirements are reflected in G/L accounts. For instance, a goods receipt will increase the inventory, just as billing a customer will increase the receivable.

G/L accounts are ultimately used to produce reports to meet legal requirements (balance sheets, profit loss statements and cash flow statements). The G/L accounts identify what types of expenses and income make up a company's business. Using G/L accounts, each transaction can be classified as revenue, expense, liability and so on. The chart of accounts needs to be created at least once for each General Ledger account.

Transactions within General Ledger are stored in a transaction document called Journal Voucher. The General Ledger provides a complete picture of all business transaction. It gets its data from automatic postings from documents. Thus all G/L transactions are tied to source documents. So from the G/L level you can zoom progressively to more detail until you get to the actual source document.

FRM Software Financial Resource Management Workflow ( Click on image to enlarge)

FRM software Functional Benefits/Features:

Financial Controller:

• Enter Currencies
• Setup Calendar
• Enter Voucher Types
• Define Chart of Accounts
• Define Account Groups
• Define Accounts Opening Balance
• Define Cost Centers
• Define Monthly and Annual Budgets
• Year End Closing

Payables Accountant:

• Access Vendor Info
• Process Vendor’s Invoices with GRN/PO Quantity Matching
• Create Purchase Voucher
• Track Quantity and Rate Deviation in GRN/PO
• Track Payables by party due dates
• Raise Debit Note for rejections/invoices
• Generate Vendor Aging Analysis

Cost Accountant:

• Create Inventory Valuation using FIFO, LIFO, Weighted Average Standard.
• Allocate Vouchers to cost centers for detailed cost analysis.

Account Auditors:

• Audit Tracking
• Receivables Accountant
• Access complete Customer Information
• Create Sales Voucher automatically from Sales Invoice
• Create Receipts Voucher on Settlement of Bills
• Track receivables via allowed credit days
• Send Reminder Letters for payments due
• Raise Credit Notes for rejections/invoices
• Generate Aging Analysis

Ledger Accountant:

• Enter Vouchers
• General Ledger
• Print Statements, Trial Balance, Balance Sheets, P L, Ratio
• Analysis, Fund Flow, Cash Flow.

Statements:

• Generate Budgeted VS Actual Reports
• Generate books, Day books and General Ledgers,…, etc.

Fixed Assets Manager:

• Enter Assets Details
• Record purchases, transfers and sale of assets
• Maintain books of depreciation
• Post depreciation entries to Ledger
• Track Insurance policies, 3rd party maintenance contract and warranties

Billing Manager:

• Excise Invoice
• Export/Local Invoice

Tax Manager:

• Generate Tax Structure ST/VAT
• Track Tax forms to be issued
• Track forms to be received from buyers
• Record Tax Payments
• Post entries to General Ledger

Tax Deducted at Source (TDS) Manager:

• Calculate TDS on payments
• Generate TDS Register
• Record deposits of TDS Receipts / Vouchers in bank
• Generate and Issue of TDS Certificate
• Post Annual Returns
• Record TDS on receivables
• Track certificates to be received
• Post entries to General Ledger