iFinance Accounting System, which is designed as consistent and fully audited interface enables multi-company, multi-currency, & non-closing concept. It is flexible to match unique business requirements in the region. It also has the capability to analyze complex financial status to facilitate management decision. The accounting system provides all the functions you need for your accounting operation. Based on the invoice type, an Account Receivable/Account Payable is generated. When a payment is received/paid, users can enter the corresponding information to the journal voucher. Then the information is posted to general ledger.

Besides the basic flow of accounting, a lot of functions are supported for users to enquire the corresponding accounting information:
Chart of Account: Show the detail information of all accounts built in the company
Bank Reconcile: Show all the transactions against banks
Consolidation: Show the brief information of all accounts of all companies

To avoid too many online processing, a batch posting is supported for users to post all the accounting entries. Moreover, a rebuild balance function is supported for users to rebuild the account balance in case of problems encountered during processing.

A ledger control function is supported for users to define the ways ledgers are kept to cater for the different practices for different companies.

If users use both Order Processing System and Accounting System, the invoice prepared in the Order Processing System can be transferred to Accounting System for further processing.

It allows users to create/process a new sales invoice. Users can enquire on the shipping schedule and the outstanding amounts in the invoice.

It allows users to post the amount receivable from invoices to account receivable in the accounting system.

It allows users to enquire on/add all the account receivables for the company.

It allows users to produce the cash receipt when invoices are received or cash payment when payments are paid to suppliers.

It allows users to create/process supplier invoice based on supplier delivery note(GRN). Users can enquire on the items related in the invoice.

It allows users to post the amount payable from supplier D/N to account payable in the accounting system.

It allows users to enquire on/add all the account payables for the company.

It records each transaction of every account such as account receivable, account payable, cash receipt/payment or other Journal Transactions.

If journal is posted, it will be transferred to General Ledger. At the same time, the value of transaction is added to the chart of account according to the period of transaction.

Management team can predict the cash in/cash out flow and cash requirement as to determine the financial risk. Cash prediction is different from conventional accounting package which consider order processing information such as outstanding P/I, P/O, Supplier Invoice and Sales Invoice with different payment terms and cycle. Which give management highly realistic picture of future cash requirement in different time period such as 7 days, 14 days, 30 days 60 days etc.

iFinance can fingertip major reports provided include Account Receivable, Account Payable, Ledger Balance, Balance Sheet, Profit and Loss, Trial Balance etc with security setting this module can set to be only accessible to authorized personnel such as accountant, financial controller and top management etc.