Problem
Sir I would like to ask you that how should we Run our Accounting system for internal purpose.. Like as I told you that we are giving equipment on rent and that equipments are also repaired in our workshop division but we want our workshop division and spare parts division and Rental division profitability separately.
Can you tell me how should we communicate between all these three division..
And another thing is this that we are purchasing new ERP SOFTWARE which is by default providing following financial reports ... is there any other report do you know will be best for our Business.. please tell me about that..
1)Ledger
2) Sub Ledger
3) Cash Book
4) Bank Book
5) Petty cash Book
6) Day Book
7) Bank Reconciliation statement
8) Sales Register
9) Sales Return Register
10) Summary Sales Book
11) Sales by Item Detail
12) Sales by Customer Summary
13) Sales by Customer Detail
14) Purchase Register
15) Purchase Return Register
16) Summary Purchase Book
17) Purchase by item Detail
18) Purchase by Supplier summary
19) Purchase by Supplier Detail
20) Journal Entry register
21) Opening Balance Register
22) Entry Journal
23) Pdc Receipts Register
24) Pdc Payment Register
25) Trial Balance
26) Profit & Loss
27) Balance sheet
28) Bill wise Analysis
29) Due Date wise Analysis
30) Ageing Analysis
31) Bill wise Ageing Analysis
32) Party wise sales analysis
33) product wise sales analysis
34) Sales Analysis
35) Party wise purchase Analysis
36) Product wise purchase Analysis
37) Purchase Analysis
38) Peak & Low Balance
39) Comparative Analysis
40) Transaction Type Analysis
41) Quotation Comparison Report
42) Advance To Supplier Register
43) Payable & Receivable Register
I need your help to setup our company accounts. Please help me.
Solution
ERP Company is providing you large number of financial reports. That is good. I think, cash flow statement is missing, with this, you can know the inflow and outflow of cash within two accounting years in operating, financial and investment activities. In India, it is compulsory to make. Please ask also the company from where are you buying ERP, whether there is any option to generate statutory and taxation reports. Because, you are providing the repair services. So, you need service tax report. In this report, we can add service tax payable and Input credit form and ST3 report. Because, you are saying that following reports are on the default basis. I think, company will give above facilities also under advance options. Please consult these matters before buying.
With reference to our Chat we did yesterday on dated 01-06-2010 regarding the financial reports. I would like to give information about our company our company is doing business of Heavy Equipments.. we give Equipments on Rent on daily basis , weekly basis , monthly basis , also we are having one Workshop division which repairs our own vehicles as well as outside Customer vehicle.( For income )..
We are also having one spare parts division which purchase spare parts for our own vehicle as well as sale to outside customers.( FOR INCOME)
Can you tell me how should we communicate between all these three division..
And another thing is this that we are purchasing new ERP SOFTWARE which is by default providing following financial reports ... is there any other report do you know will be best for our Business.. please tell me about that..
1)Ledger
2) Sub Ledger
3) Cash Book
4) Bank Book
5) Petty cash Book
6) Day Book
7) Bank Reconciliation statement
8) Sales Register
9) Sales Return Register
10) Summary Sales Book
11) Sales by Item Detail
12) Sales by Customer Summary
13) Sales by Customer Detail
14) Purchase Register
15) Purchase Return Register
16) Summary Purchase Book
17) Purchase by item Detail
18) Purchase by Supplier summary
19) Purchase by Supplier Detail
20) Journal Entry register
21) Opening Balance Register
22) Entry Journal
23) Pdc Receipts Register
24) Pdc Payment Register
25) Trial Balance
26) Profit & Loss
27) Balance sheet
28) Bill wise Analysis
29) Due Date wise Analysis
30) Ageing Analysis
31) Bill wise Ageing Analysis
32) Party wise sales analysis
33) product wise sales analysis
34) Sales Analysis
35) Party wise purchase Analysis
36) Product wise purchase Analysis
37) Purchase Analysis
38) Peak & Low Balance
39) Comparative Analysis
40) Transaction Type Analysis
41) Quotation Comparison Report
42) Advance To Supplier Register
43) Payable & Receivable Register
I need your help to setup our company accounts. Please help me.
Solution
ERP Company is providing you large number of financial reports. That is good. I think, cash flow statement is missing, with this, you can know the inflow and outflow of cash within two accounting years in operating, financial and investment activities. In India, it is compulsory to make. Please ask also the company from where are you buying ERP, whether there is any option to generate statutory and taxation reports. Because, you are providing the repair services. So, you need service tax report. In this report, we can add service tax payable and Input credit form and ST3 report. Because, you are saying that following reports are on the default basis. I think, company will give above facilities also under advance options. Please consult these matters before buying.
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