Advanced Accounting and Sub-Ledgers

Principles

LEOS ERP’s financial accounting is based on Sub-Ledger Accounting Principle. LEOS ERP includes the tools and processes that manage and govern income, expenses, and assets

Ledgers: General Ledger (GL) and Sub-Ledgers

• Ledgers—especially the general ledger—is the core component. The design and capabilities are critical to overall functionality across the complete software suite.

• System Providing Detailed Chart of Accounts. It includes Legal Entity names, Branch Name, Departments Name and Accounting Details

• Provides Account Information like one particular account comes under which type, category, class and group etc.

• The GL is the primary ledger and provides a master line-by-line collection of all completed financial transactions. For each transaction, GL records usually include: the associated amount, account, date, description, transaction number, and type.

• LEOS include sub-ledgers to the GL, aligned by branches, locations, countries, or major projects. Sub-ledgers improve accounting accuracy and financial transparency for tax payments, budget and finance planning, as well as financial analysis and reporting.

• System providing Accurate Bank Reconciliation.

• System automatically generate all Financial Reports like Trading, Profit and Loss Account and Balance Sheet.

Accounts Payable (AP) and Accounts Receivable (AR)

• Accounts payable and accounts receivable drive debits and credits across the system.

• The ability to quickly and accurately process payables and receivables impacts cash flow, month-end close, year-end close, and most periodic financial processes. Connecting to OCR and other automation technologies speeds processing and improves accuracy of AP and AR processing.

• Can track Expenses and Revenues.

• It follows a well-defined Workflow System & Approval Mechanism. So, for posting each transaction approval is required. It gives the user a fully controlled system.

• At the time of creating any data, System saves current user name and creating time, which in turns helps in Auditing Purpose

Assets Register

Asset Purchases, Depreciation, Transfers, Asset Sales, Period Closing, knowing the value and condition of assets is a requirement for inventory management. LEOS software captures capital and operational data with descriptive information related to assets to deliver accurate financial statements related to appreciation and depreciation.

Period and Year Closing

Monthly and Yearly Period closing for all Sub-Ledgers

Other Features

• Multi Currency

• Advanced COA - Chart of Accounts

• Multiple Legal Entities

• Forward Trading


Testimonials

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