Guide

Accounting at Aamali

Last updated : 02 Sep 2024

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Encompassing accounting solution, covering every aspect of financial management. Enjoy features like expense tracking, income management, ledger management, and much more.

Accounting management 

  • Expense tracking: The expense tracking feature allows users to categorize and record various types of expenses, such as utilities, supplies, payroll, and more. Users can track expenses by project, department, or category, providing visibility into spending patterns and facilitating cost control measures.
  • Income management: Users can manage incoming funds from sales, client payments, investments, and other sources. The system automatically records income transactions and updates relevant accounts, providing a real-time view of cash inflows.
  • Ledger management: Aamali ERP's ledger management module includes features for maintaining detailed accounts, recording journal entries, and reconciling accounts. Users can create and manage multiple ledgers, such as accounts payable, accounts receivable, and general ledger, ensuring accurate financial records.
  • Financial reporting: The system offers a range of customizable financial reports, including balance sheets, income statements, cash flow statements, and trial balances. These reports provide insights into the financial health of the business and support strategic decision-making.
  • Budgeting and forecasting: Users can create and manage budgets for various departments, projects, or cost centres. The system supports budget planning, tracking actual expenses against budgeted amounts, and forecasting future financial performance based on historical data and assumptions.
  • Tax management: Aamali ERP includes features for calculating, reporting, and managing taxes. Users can generate tax reports, track tax liabilities, and ensure compliance with tax regulations. The system also supports tax filings and integrates with tax filing software for streamlined tax preparation.
  • Debit and credit cash flow: Users can track cash flow movements, including debits and credits, across various accounts. The system provides a clear overview of cash inflows and outflows, helping users monitor liquidity and manage cash effectively.
  • Bank and transaction management: Users can manage bank accounts, reconcile bank statements, and record banking transactions such as deposits, withdrawals, and transfers. 
  • Revenue vouchers: Aamali ERP allows users to create and manage revenue vouchers for recording sales transactions, client payments, and other revenue-related activities. 
  • Accounting tree management: The system offers a hierarchical structure for organizing accounts, enabling users to create and manage an accounting tree that reflects the organization's chart of accounts. Users can define account groups, subgroups, and categories for systematic financial reporting and analysis.
  • Opening balance management: Users can enter opening balances for accounts, ensuring a smooth transition to the new accounting system. The system supports the import of opening balances from legacy systems and provides tools for reconciling opening balances with financial statements.
  • Integration with other modules: Aamali ERP's accounting solution seamlessly integrates with other modules of the system, such as inventory management, sales, purchasing, and human resources. This integration ensures data consistency, eliminates duplicate data entry, and provides a unified platform for managing all aspects of the business.

 

Key features

  • Dashboard: Aamali ERP's accounting management module includes a dynamic dashboard window that offers real-time summaries of critical accounting aspects, providing invaluable insights for the accounting management team. This dashboard presents key financial metrics such as the number of sales, clients, and records, the cheques withdrawn, rejected, and deposited, and onsite on pending expenses. With live updates and interactive visualizations, the dashboard empowers accounting managers to make informed decisions, address issues promptly, and drive financial success.
  • Management of accounting users: Including the feature of defining users based on their roles and responsibilities within the organization, with varying levels of authority granted to facilitate efficient operations and data security.
Hekaya

2 sep 2024

Highlight
Aamali ERP empowers businesses by allowing them to structure their own accounting tree. This feature provides flexibility and customization options, enabling businesses to tailor their chart of accounts to their specific needs and organizational structure.