Cloud based advanced accounting software comes with simple interface, making it easy to use and configure. The system is fully integrated with all modules of cloud logistics management system, which provides integrity, accuracy and visibility across all business verticals.
What is an integrated accounting system in ERP? An accounting system is the system that derives direct income, direct expenses and, receivables and payables from operational activities of the company by integrating modules like transport booking, hire management, billing management, trip management etc. in accounting management system. Now only non-operational expenses, receipts and payments vouchers are required to be entered in the modern accounting ERP system.
Why accounting system is backbone of any organization? It generates liquidity and earnings for the company, the pay-outs and salaries are paid to employees out these earnings and cash liquidity only.
Integrated means connected, in other term we can say that accounting system receives the accounting information form lorry hire, bill, purchases, trip etc. without any human interference, which provide greater level of accuracy and integrity.
Critical financial information that needs immediate user or management attention are notified on notification bar in you logistics management erp system. This not only provides information, but leads towards achieving your business goals.
Selecting bill by bill payment receiving is time taking process and also prone to errors, keeping in mind the large volume of transactions of transport companies, the voucher management system is designed to generated receipt or payment vouchers by selecting multiple bills from pending list and complete the accounting voucher instantly.
We have worked out paperless office for logistics business, now save time in printing of vouchers, documents and reports, and also reduce your printing cost by using PDF or spreadsheet versions.
LOZICS accounting system provides informative credit control system to monitor payment recovery system by drawing an outstanding control report in different formats like submitted, not submitted, due, not due, reminder letter, age wise and by adding unrealized bills or unbilled consignments.
To prevent unnecessary spending for expenses by branches of large logistics companies, we have designed budgeting system exclusively for transport business. The system restricts, branches from spending more that allotted amount for a particular head of expense.
There may be circumstances, when any branch might have to spend more money that is allotted to it from budget control, in such a scenario, branch needs to take approval from authorized person before payment of such expense.
Many expenses booked in accounting system are related to expense of a particular operational activities, such expense must be correlated to that operational activity for correct costing visibility. Whenever such expenses are accounted, the system mandatorily asks to input basic document number for which the payment is being made.
Cost centres are type of sub ledgers being used in old accounting system. This provides functionality of viewing separate ledgers for sub ledges without creating an accounting ledger. The cost centres are not part of a statutory accounting system and used for internal monitoring purposes.
Bank and internal branches are two major heads that requires reconciliation with our books of accounting. We have provided an easy bank reconciliation platform and auto drafted reconciliation for branches.
There are certain expenses like rent, EMI etc., which are paid regularly within fixed time interval, for transport companies, the number of such entries are in hundreds per month. You can automatically generate these recurring vouchers at a mouse click as per predefined date and amount in the one of the transport accounting system in India.
Deducting TDS form the parties and depositing it in the government treasury is prime responsibility of payee, any non-deduction of TDS may lead to heavy penalties and legal action. The accounting system automatically deducts TDS in payable bills booking and payment vouchers based on TDS rules laid down in party master.
The system is fully GST compliant and levies GST on outward supply as per predefined rules and posts them in relevant registers for filing returns. GST is also taken into account for availing input tax credit in inward suppliers. These processes are automated and requires no or least user intervention.
System provides all information that is required for preparing statutory reports for submitting to ROC and income tax departments. Balance Sheet and Profit & Loss accounts are available for a particular branch, region or consolidated. For ease of viewing and analysis, all branches reports are visible in a single screen of accounting system.
Logistics and Transport Accounting Management system delivers you reliable results.