Fixed Asset Management for Automotive Industry
Through the system, you may acquire the ability to perform calculations on a number of depreciation books simultaneously, and then use them for various business processes. This includes tax reporting under country laws, or internal financial reporting to the headquarters of the organization.
One or more insurance policies can be attached to each fixed asset. You may use the system to make sure that your insurance policy amounts are in compliance with the value of the assets that have been linked to the said policy. This will help you in monitoring all of your annual insurance premiums.
Different percentages of fixed asset transactions can be allocated as well. This includes acquisition cost, and depreciation, both of which can be applied to varying projects and/or departments. You may also use these features in case there are several departments that share a particular fixed asset. Fixed asset can be allocated to responsible individual.
Fixed Asset Maintenance
- Normal GST calculations
- Reverse Charge GST
- Full GST
- Sales GST
Bank Account Management for Automotive Industry
Details on Financial Reporting
Accounting Management in Automotive Industry
What is cost accounting all about?
The basic purpose of Cost Accounting is to help understand the costs involved in running a business. On the whole, full integration has been performed amidst Cost Accounting and the General Ledger application area. In the long-term, it will help to make analysis with regards to the costs per departments and products/services. With the help of this analysis, it will be a whole lot easier for a reliable base to be created with regards to Cost Accounting. It can be utilized to perform an analysis on the following:
- The different types of costs or expenses that occur while running a business
- Areas where the costs occur
- The individuals responsible for bearing the costs
Details on Receivables Management
In case you wish to make use of the Multiple Currencies functionality, it will be possible for you to post sales transactions and even manage debtors in varying currencies for every customer.
Apart from that, you will also have the power to keep an eye on your reminders along with a number of finance charge memos. It is typically inclusive of checking whether or not the said amounts are regularly being paid on time. In case there are customers who have lapsed payments, it is vital for you to work out when, and how reminders can be sent. For any interest, and/or fees, it is easily possible for you to debit their accounts.
Closing of the financial year
Details of Taxation and sending Reports to Local Authorities
Financial Budgeting & Forecasting
- Project or item
- Process any and all payments that are received from customers
- Annul a check
- Process payments that are to be made to vendors