If you believe in managing your finances well, you will find an able assistant in iReckoner Financials.
It provides total flexibility to its users to define their own parameters to suit changing business needs,
such as a definable, flexible and a multilevel Chart of Accounts structure. It keeps track of the status of every financial transaction,
of every voucher posted, of every debtor and creditor, of multiple currency transactions and even of the information on specific Cost Centres.
Account Payables and Receivables are prepared to adjust the Payables or Receivable transactions of an external party with payments made and/or received,
and to monitor the pending transactions. iReckoner Finance has a flexible and effective process to generate Bank or Cash Vouchers for the payment to suppliers.
iReckoner Financials takes into consideration various processes followed by an organization. The process starts from Voucher entry, which could be system generated or manually entered.
A Bank Payment Voucher is generated with payment processing and cheques are processed.
iReckoner Financials also covers the Posting to Reporting process.
This begins with the General Ledger, which automatically prepares the Trial Balance, then the Profit and Loss statement, Balance sheet and Cash flow statement.
iReckoner's cost accounting provides an efficient mechanism of cost control. Cost centres can be defined in the system.
iReckoner Finance interfaces with iReckoner Purchase for payment processing, Payable adjustments and cheque processing.
In iReckoner Financials Sales Voucher automatically gets posted from iReckoner Sales. iReckoner Financials covers the Invoicing to Collection process, which consists of collection of payment, adjustment against Invoice, generation of Bank receipt voucher and finally Posting of voucher.