BI Soft Tech Basic ERP Cloud Software Solution

Cloud ERP

Enterprise Resource Planning (ERP) Cloud System:

At BI Soft Tech Services LLC, we understand that in today’s fast-paced business environment, having real-time access to accurate data is essential for staying ahead. That’s where our Enterprise Resource Planning (ERP) system comes in. Designed to seamlessly integrate all key business processes—from finance and inventory to human resources and customer relationship management—our ERP system consolidates these into a unified platform. This provides management with up-to-the-minute information, enabling data-driven decisions that enhance efficiency, streamline operations, and boost profitability. With our ERP solutions, businesses can achieve greater transparency, improve resource management, and gain a competitive edge in the market.

BI Soft Tech Basic ERP Cloud Software Solution consists of below Functionalities and modules:

General Ledger Functionalities:

The General Ledger (GL) module in an Enterprise Resource Planning (ERP) Cloud system is a fundamental and central component of the software. It is responsible for recording, tracking, and managing all financial transactions and accounts of an organization. The General Ledger serves as the core accounting system within the ERP, providing a comprehensive and organized view of the company's financial data. Here are the primary functions and features of the General Ledger module in ERP.

  1. Chart of Accounts: The GL module allows organizations to define and maintain their chart of accounts profit center-wise, which is a structured list of all the financial accounts used to classify and record transactions. This includes accounts for assets, liabilities, equity, revenues, cost of sales, divisional management, administration expenses.
  2. Transaction Recording: Users can record all financial transactions within the ERP system, including sales, purchases, direct expenses(payroll), indirect expenses (gratuity, leaves, airfare) operation, transport expenses, and other financial activities. Each transaction is categorized and posted to the appropriate accounts in the chart of accounts profit center-wise
  3. Journal Entries: The GL module enables the creation and posting of journal entries, which are used to record complex or non-routine transactions, adjustments, or corrections.
  4. Account Balances: It maintains up-to-date balances for each account in the chart of accounts profit center-wise, reflecting the financial position of the organization at any given time.
  5. Account Reconciliation: Users can perform account reconciliations to ensure that the balances in the ERP system match the actual balances in the organization's bank accounts and other financial statements.
  6. Financial Reporting: The module provides tools for generating various financial reports, including income statements (profit and loss statements profit center-wise), balance sheets company wise, cash flow statements, and customized financial reports. These reports are crucial for financial analysis and decision-making.
  7. Budgeting, Forecasting vs Actual figures: Some GL modules include budgeting and forecasting capabilities profit center-wise, allowing organizations to set budgets, track budget variances, make financial projections and monitoring actual figures with budgeted figures.
  8. Multi-Currency Support: For organizations that operate in multiple currencies, the GL module can handle currency conversion and consolidation of financial data across different currencies.
  9. Audit Trails: It maintains detailed transaction histories and audit trails, making it possible to trace changes and updates to financial data for compliance and auditing purposes.
  10. Integration: The General Ledger module is tightly integrated with other ERP modules, such as purchases, accounts payable, sales, accounts receivable, inventory, HR, and payroll, to ensure consistency and accuracy of financial data across the system.
  11. Compliance: It helps ensure compliance with accounting standards and regulatory requirements, providing a solid foundation for financial reporting and auditing.

Overall, the General Ledger module is a critical component of an ERP system, serving as the backbone of the organization's financial management. It enables businesses to maintain accurate financial records, generate meaningful financial reports, and make informed financial decisions.

General Ledger Module:

  • Chart of Accounts as per your business requirements.
  • Administration expenses Periodic Report.
  • GL Admin Expenses Report.
  • General Ledger Report.
  • Trial Balance Report.
  • Comparative Financial Report
  • Income Statement Report.
  • Financial Year Opening Calendar.  
  • Financial Year Closing Process.

Sales Functionalities:

In an Accounting ERP (Enterprise Resource Planning) system, the Sales module, often referred to as the "Sales and Billing" or "Sales Order Processing" module, is a core component that manages and facilitates the entire sales process within an organization. This module is designed to streamline sales operations, from creating quotes and sales orders to invoicing customers and tracking sales revenue. Here are the primary functions and features of the Sales module in an Accounting ERP:

  1. Customer Management: The Sales module maintains customer information, including contact details, payment terms, credit limits, and sales history.
  2. Quote Management: The module often includes the ability to generate and manage sales quotes or proposals for potential customers. These quotes can be converted into sales orders once accepted by the customer.
  3. Sales Order Creation: Users can create sales orders based on customer requests or purchase orders. These orders serve as the basis for processing and fulfilling customer orders.
  4. Sales Invoicing: The module allows for the creation of sales invoices to bill customers for products or services delivered. Invoices can be generated automatically from sales orders or manually as needed.
  5. Value Added Tax and Compliance: It handles the calculation and management of value added taxes, ensuring that value added tax rules and regulations are adhered to.
  6. Payment Processing: Users can record and track customer payments against invoices, helping to reconcile accounts receivable and manage cash flow.
  7. Integration: It is tightly integrated with other ERP modules, including Accounts Receivable, General Ledger, and Customer Relationship Management (CRM), to ensure consistency and accuracy of financial and customer data.
  8. Pricing and Discount Management: Users can define pricing rules, discounts, and promotions for products or services. Pricing can be customized based on customer agreements or volume purchases.
  9. Inventory Management: It integrates with the Inventory module to check stock availability and update inventory levels in real-time as sales orders are processed.
  10. Order Fulfillment: The module assists in the coordination of order fulfillment processes, including picking, packing, and shipping of goods to customers.
  11. Sales Reporting: The module provides reporting and analytics tools to monitor sales performance, analyze trends, and assess the effectiveness of sales strategies.
  12. Sales Forecasting: ERP system offers sales forecasting capabilities based on historical sales data and trends to aid in demand planning and inventory management.

The Sales module in an Accounting ERP system is crucial for businesses as it helps streamline sales processes, improve customer service, optimize inventory management, and ensure accurate financial recording of sales transactions. It is typically used by sales teams, customer service teams, and accounting departments to collaborate and manage the entire sales cycle efficiently.

Sales Module:

  • Monthly Sales Register Company Report.

Purchase Functionalities:

The Purchase Module in an ERP (Enterprise Resource Planning) system is designed to automate and streamline the procurement process for an organization. It helps manage the purchasing of goods and services from external vendors, ensuring that supplies are ordered, received, and tracked efficiently. Here's a breakdown of its key functions:

  1. Vendor Management
  • Supplier Database: Maintain detailed information about vendors, including contact details, payment terms, and performance history.
  • Supplier Evaluation: Assess and rank suppliers based on various criteria like price, quality, delivery time, and reliability.
  1. Purchase Requisition (PR)
  • A department within the organization raises a purchase requisition when goods or services are needed. This request is then sent for approval, depending on predefined rules.
  1. Request for Quotation (RFQ)
  • After approval of a purchase requisition, the system generates RFQs that are sent to various suppliers for pricing and availability. Vendors can respond with their quotations.
  1. Purchase Order (PO)
  • Once a supplier is selected, a Purchase Order is created and sent to the vendor. This document outlines the items being purchased, quantities, agreed prices, delivery timelines, and payment terms.
  1. Goods Receipt
  • When the goods or services are delivered, the purchase module records the receipt of these goods, ensuring that the quantities and quality match the original purchase order.
  1. Invoice Verification
  • The system matches the supplier’s invoice with the purchase order and goods receipt to ensure consistency before making the payment. This is known as the 3-way match process.
  1. Payment Processing
  • Once the invoice is verified, the payment is processed according to the payment terms.
  1. Reporting and Analytics
  • The module provides reports on spending, supplier performance, purchase order statuses, and inventory levels, offering insights for decision-making.
  1. Integration with Other Modules
  • The purchase module is integrated with other modules such as Inventory, Finance, Sales, and Production. For example:
    • Integration with the Inventory Module ensures that the procurement is aligned with stock levels.
    • Integration with the Finance Module handles the financial side, such as payments, budgets, and cost management.

In essence, the Purchase Module helps organizations maintain control over the procurement process, reduce errors, and increase efficiency in managing suppliers and inventory.

Purchase Module:

  • Purchase Requisition Report.
  • Purchase Invoice Report.
  • LPO Supplier wise Report.

Inventory Control Management Functionalities:

The Inventory module in an Enterprise Resource Planning (ERP) system is a critical component that enables organizations to manage and control their inventory efficiently. It provides tools and features for tracking, monitoring, and optimizing the flow of goods, materials, and products within a company. The Inventory module plays a central role in helping businesses maintain optimal stock levels, reduce carrying costs, and improve overall supply chain management. Here are the primary functions and features of the Inventory module in ERP:

  1. Inventory Tracking: The module allows organizations to maintain accurate records of all inventory items, including details like item descriptions, quantities on hand, location information, and unit costs.
  2. Stock Valuation: It calculates the value of inventory on hand based on various valuation methods (e.g., FIFO, LIFO, weighted average) and helps in ensuring compliance with accounting standards.
  3. Replenishment Planning: Users can set up reorder points and reorder quantities for items to automate the procurement process, ensuring that inventory levels are maintained within specified limits.
  4. Multi-Location Management: For organizations with multiple warehouses or locations, the Inventory module provides tools for managing inventory across different sites.
  5. Goods Receipt and Issuance: It records the receipt of incoming goods or materials and the issuance of items for production, sales, or other purposes.
  6. Stock Transfers and Adjustment: Businesses can initiate and track the transfer of inventory between different locations or departments.
  7. Inventory Status: The module offers real-time visibility into inventory status, including available stock, on-order stock, and backorders.
  8. Cycle Counting and Physical Inventory: It supports cycle counting processes to periodically verify inventory accuracy and reconcile physical inventory counts with system records.
  9. Lot and Serial Number Tracking: For businesses dealing with batch or serialized items, the module allows for tracking items by lot or serial number, aiding in traceability and compliance.
  10. Inventory Reports: Users can generate various reports related to inventory, including stock levels, movement analysis, and obsolete inventory reports.
  11. Supplier Performance: Some Inventory modules provide insights into supplier performance, helping organizations evaluate supplier reliability and lead times.
  12. Integration: It is tightly integrated with other ERP modules, such as Purchasing, Sales, and Manufacturing, to ensure that inventory data is synchronized across the system.
  13. Demand Forecasting: Advanced Inventory modules may offer demand forecasting capabilities to help organizations anticipate future inventory needs based on historical data and trends.

The Inventory module is essential for organizations involved in manufacturing, distribution, retail, or any business that deals with physical goods. It helps businesses optimize inventory levels, reduce carrying costs, minimize stockouts and overstock situations, and enhance overall supply chain efficiency. Additionally, it plays a crucial role in accurate financial reporting by valuing inventory correctly and ensuring compliance with accounting standards.

Inventory Control Management Module:

  • Goods Items Master Report.
  • Goods Opening Stock Quantity Location Wise Report
  • Goods Stock Valuation Report.
  • Goods Receipt Note Report.
  • Goods Stock Issue Note Report.

VAT Compliant Functionalities:

A VAT (Value Added Tax) Compliance module in an ERP (Enterprise Resource Planning) system is a specialized component designed to assist businesses in managing and ensuring compliance with VAT regulations and requirements. VAT is a consumption tax levied on the value added to goods and services at each stage of production or distribution, and businesses are often required to collect and remit VAT to tax authorities. The VAT Compliance module helps organizations automate and streamline their VAT-related processes and reporting. Here are the primary functions and features of a VAT Compliance module in an ERP:

  1. VAT Calculation: The module calculates VAT on sales and purchases automatically based on predefined tax rates, exemptions, and thresholds. It ensures accurate VAT calculations, reducing the risk of errors.
  2. VAT Registration: Businesses can register for VAT and manage their VAT registration details within the module. It may include functionality to handle multiple VAT registration numbers for businesses operating in different regions or countries.
  3. Invoice Compliance: It helps generate VAT-compliant invoices, ensuring that invoices include all required VAT-related information, such as the VAT identification number, tax rates, and VAT amounts.
  4. VAT Returns: The module generates VAT returns or VAT reports required by tax authorities. It summarizes the VAT collected on sales and the VAT paid on purchases, making it easier to complete and submit VAT returns accurately and on time.
  5. VAT Filing: ERP system provides e-filing capabilities, allowing businesses to electronically submit their VAT returns directly to tax authorities, where permitted.
  6. VAT Reconciliation: The module assists in reconciling VAT transactions to ensure that the VAT reported in VAT returns matches the transactions recorded in the system.
  7. Compliance Alerts: It may include automated alerts and notifications to inform users of upcoming VAT filing deadlines, changes in VAT rates, or other compliance-related matters.
  8. VAT Exemptions and Deductions: Businesses can manage VAT exemptions and deductions for certain types of transactions or products, ensuring that the correct tax treatment is applied.
  9. Multi-Jurisdiction Support: For businesses operating in multiple jurisdictions or countries with varying VAT rules, the module can handle different VAT regimes and rates.
  10. Audit Trails: Detailed transaction history and audit trails are maintained to track changes and updates related to VAT transactions for auditing purposes.
  11. Integration: The VAT Compliance module is integrated with other ERP modules, such as the General Ledger, Accounts Payable, and Accounts Receivable, to ensure accurate and consistent financial reporting.
  12. Compliance Reporting: It generates VAT-related reports required for internal management, tax authorities, or auditors.

The VAT Compliance module is especially valuable for businesses that are subject to VAT regulations, as it helps them manage their VAT obligations efficiently, reduce the risk of non-compliance, and streamline the reporting process. Additionally, it can save time and resources by automating many of the manual tasks associated with VAT management. Compliance with VAT regulations is crucial to avoid penalties and ensure the accurate reporting of tax liabilities.

VAT Compliant Module: 

  • Customers Sales Output Report
  • Suppliers Purchase Input Report
  • VAT Return Report
  • VAT Codes Master 
  • VAT GL Input Report
  • VAT GL Output Report

Corporate Tax Compliant:

  • Corporate Tax Return Report

Software Administration Module:

  • Users and Passwords Creation
  • Define and Assign User Roles