General Ledger is the heart of Vision Financial management, processing and posting all accounting transactions created throughout the Vision applications, as well as entries made directly within the ledger. While it is seldom accessed outside of the accounting and tax departments, the General Ledger’s impact is felt throughout an entire enterprise.
Vision maintains a common chart of account across the enterprise and manage subsets of COA for individual financial entities and branch accounts.
Maintenance of General Ledger is done by Accounts code, Cost centres/ Budget Code, Employees and Analysis Code for each transaction.
Sub ledger maintenance is done by
– Loan and deposit (liability)
– Loan and deposits (Assets)
– Fixed Assets
Simplifies supplier invoice and payment routines. Integration with accounting rules and purchasing functionality minimises errors and simplifies routines.
Accounts Payable (AP) allows you to enter supplier invoices for purchases that you make, then create checks for the invoices you want to pay.
To facilitate centralised purchasing it automates transfers of payables in multi location organisations where purchases are centralised but accounted and payment executed in different books of accounts.
The Payables module has tight controls to monitor vendor advances and payments
– Payable integrates with other modules including Accounts Receivable, Purchase Orders, Job Costing, Taxation and Reporting and Electronic Reporting to provide streamlined, comprehensive functions.
– Creation of goods inward memo(GIM)/service inward memo(SIM) when goods/services are received and purchase accounting from GIM/SIM.
– Provision to pay at different site other than goods/services received site (IBCA).
– Auto creation of recurring payables based on predefined contract
– Accounting of debit/credit notes
– Payment against payable voucher only, except for cash payments
– Automatic creation of payment entry from payable
– Bank charges calculation for demand draft payments
– Tracking of all statutory payments
– Monitoring of advances paid to vendors
– Reconciliation of freight and commission payable
– Maintenance of asset related transactions like: