BI Soft Tech Enterprise ERP Software Solution On-premises

Enterprise Resource Planning (ERP) System On-premises:

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 Enterprise ERP Software Solution On-premises consists of below modules:

General Ledger:

The General Ledger (GL) module in an Enterprise Resource Planning (ERP) 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:

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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
Company Profit \ loss Periodic Report
Multi cost centres Profit \ loss Periodic Reports.
Customer Profit \ loss Periodic Report.
Administration expenses Periodic Report.
Cost Analysis Periodic Report.
GL Divisional Sales Report.
GL Sales Variance Report.
GL Divisional Purchase Report.
GL Admin Expenses Report.
General Ledger Report.
Trial Balance Report.
Comparative Financial Statement Report.
Income Statement Report.
Voucher Recurring Template, (to expedite Data Entry Process).
Financial Year Opening Calendar.
Financial Year Closing Process.
Audit trail History User wise for all transactions and setup forms.

Sales Module:

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:

Customer Management: The Sales module maintains customer information, including contact details, payment terms, credit limits, and sales history.
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.
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.
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.
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.
Payment Processing: Users can record and track customer payments against invoices, helping to reconcile accounts receivable and manage cash flow.
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.
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.
Inventory Management: It integrates with the Inventory module to check stock availability and update inventory levels in real-time as sales orders are processed.
Order Fulfillment: The module assists in the coordination of order fulfillment processes, including picking, packing, and shipping of goods to customers.
Sales Reporting: The module provides reporting and analytics tools to monitor sales performance, analyze trends, and assess the effectiveness of sales strategies.
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 \ Contract Management Module:

Recurring Invoice Templates.
Auto Sales Invoice Generation in bulk Monthly.
Sales Register Company \ Division\ Customer Report.
Monthly Sales Register Company\ Division Report.
Monthly Sales Register Customer and Group Customer Report
Sales Invoice Printing Report.
Contract Register Company \ Division wise Report.
Sales Contract Expiry Report.
Audit trail History User wise for all transactions and setup forms.

Receivable:

The receivable module in an ERP (Enterprise Resource Planning) system, often referred to as the "Accounts Receivable" module, is a key component that helps organizations manage and keep track of the money owed to them by customers or clients. This module is primarily focused on the management of financial transactions related to incoming payments and customer accounts. Here are the primary functions and features of the receivable module in ERP:

Customer Information Management: The module allows businesses to maintain detailed records of their customers, including contact information, credit terms, payment history, and billing preferences.
Invoicing: Users can generate invoices for products sold or services rendered to customers. The module often supports customization of invoice templates and automation of invoice creation.
Billing and Payment Terms: It enables the configuration of billing and payment terms, including due dates, discounts, and penalties for late payments.
Payment Processing: The module handles the processing of payments received from customers, including cash, checks, credit card payments, electronic funds transfers (EFTs), and other payment methods.
Credit Management: Users can set and monitor credit limits for customers, helping to assess and manage credit risk. It may include credit scoring and credit approval workflows.
Aging Reports: The system generates aging reports that categorize outstanding invoices by their age, allowing businesses to monitor and address overdue payments.
Collections Management: Some ERP systems offer collections management features, which help automate the collections process by sending reminders and escalation notices for overdue accounts.
Cash Application: This feature aids in reconciling received payments with outstanding invoices to maintain accurate accounting records.
Integration: The accounts receivable module is integrated with other ERP modules, such as the general ledger, sales, and inventory, to ensure financial data consistency and accuracy.
Reporting and Analytics: Businesses can access a variety of reports and analytics tools to gain insights into their accounts receivable performance, including cash flow projections, customer payment histories, and aging analysis.
Compliance: The module helps ensure compliance with accounting standards and regulatory requirements, particularly those related to revenue recognition and accounts receivable management.

The receivable module plays a critical role in managing a company's cash flow, optimizing working capital, and maintaining healthy customer relationships. It is typically used by finance and accounting departments to streamline financial operations and improve the overall financial health of the organization.

Receivable Module:

Receipt Tracking Customer wise.
Receipt Register Group Customer Report.
Monthly Receipt Customer Report.
Statement of Accounts Customer\Group Customer\Division wise Report.
Aging Customer\Group Customer wise Report.
PDC Received and PDC Clearance Features.
Advance Receipt and Adjustment Report.
Audit trail History User wise for all transactions and setup forms.

Purchase:

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:

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.

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.

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.

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.

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.

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.

Payment Processing

Once the invoice is verified, the payment is processed according to the payment terms.

Reporting and Analytics

The module provides reports on spending, supplier performance, purchase order statuses, and inventory levels, offering insights for decision-making.

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.
LPO Division\Supplier, Item wise Report.
LPO and LPO Reversal Report.
LPO Supplier wise Report.
LPO Aging Supplier Wise Report.
Invoice Aging Supplier Wise Report.
Audit trail History User wise for all transactions and setup forms.

Payable:

The Payables module, often referred to as the "Accounts Payable" module, is a crucial component of an Enterprise Resource Planning (ERP) system. It is responsible for managing and tracking all of an organization's financial obligations to its vendors, suppliers, and creditors. The Accounts Payable module helps businesses efficiently manage their outgoing payments, maintain good relationships with suppliers, and ensure timely payments. Here are the primary functions and features of the Payables module in ERP:

Vendor Management: The module allows organizations to maintain a database of vendor information, including contact details, payment terms, and purchase history.
Invoice Processing: Users can enter and process vendor invoices, whether received electronically or in paper form. Some ERP systems support automated data capture and invoice matching to reduce manual data entry.
Purchase Order Matching: The module often includes the capability to match vendor invoices with purchase orders and receiving reports to ensure accuracy and prevent overpayment.
Payment Authorization: Users can review and authorize payments, including selecting payment methods (e.g., checks, electronic funds transfers), setting payment dates, and managing cash flow.
Expense Tracking: It helps track and manage various expenses, including product purchases, services, utilities, and other payable items.
Payment Scheduling: Users can schedule payments for future dates or set up recurring payments for regular expenses, such as rent or utilities.
Vendor Payments: The module supports the generation and printing of payment checks or electronic transfers to vendors.
Account Reconciliation: Organizations can reconcile their vendor statements with the ERP system to ensure that all invoices and payments are accurately accounted for.
Discount Management: The module helps manage early payment discounts offered by vendors, allowing organizations to take advantage of cost savings.
Reporting and Analytics: Users can access various reports and analytics tools to monitor payables, analyze spending patterns, and assess vendor performance.
Integration: The Payables module is integrated with other ERP modules, such as the General Ledger, Inventory, and Purchasing, to ensure that financial data is consistent and accurate across the system.
Compliance: It helps organizations adhere to regulatory requirements and internal financial policies, providing transparency and auditability of payable transactions.

The Accounts Payable module plays a critical role in managing an organization's financial operations and ensuring that it meets its financial obligations to vendors and creditors in a timely and efficient manner. It also helps in optimizing cash flow management and controlling expenses.

Payable Module:

Payment Register Supplier Report.
Statement of Accounts Supplier Wise Report.
Aging Supplier wise Report.
PDC Payable and PDC Clearance Features.
Advance Payment and Adjustment Report.
Audit trail History User wise for all transactions and setup forms.

Customer Follow up Module:

Follow up History Customer and Employee wise Report.
Customer Follow up Reminder Report.

Project Budget Accounting:

The Project Budget Accounting module in an ERP system is designed to manage, track, and control the financial aspects of projects. It helps organizations plan, allocate, and monitor project budgets by creating estimation transaction, ensuring that costs are controlled, and resources are utilized efficiently. This module is particularly useful for project-driven organizations, such as those in construction, engineering, IT services, or any business that requires detailed project cost management. Its budget amount is monitored and compared with actual amount from General Ledger against projects and divisions.

Key Features and Functions of the Project Budget Accounting Module:

Budget Planning and Allocation

Budget Setup: Define the overall project budget based on estimated costs for resources, labor, materials, equipment, and other expenses.
Budget Categories: Break down the budget into various categories like labor costs, materials, overheads, and contingencies.
Multi-Level Budgeting: Support for defining budgets at different levels (e.g., project, phase, or task level) to provide granular control over spending.

Cost Estimation

Estimate costs for each phase or component of a project, allowing for accurate forecasting of expenses.
Resource Allocation: Assign resources such as employees, contractors, equipment, or materials to specific tasks, and estimate the associated costs.

Budget vs. Actual Tracking

Track actual expenses and compare them against the planned budget in real-time.
Variance Analysis: Identify deviations between the budgeted and actual expenses to manage overruns and make adjustments as necessary.
Cost Control: Set limits or alerts to prevent overspending on particular line items or tasks.

Expense Recording and Allocation

Record all project-related expenses, including direct costs (labor, materials) and indirect costs (overhead, administrative expenses).
Cost Allocation: Allocate shared costs across multiple projects or cost centers in proportion to their use.
Timesheet Integration: Link employee or contractor timesheets to the project to capture labor costs automatically.

Revenue Recognition

For projects that generate revenue (e.g., customer contracts), this module ensures that revenue is recognized in accordance with accounting standards, whether on a percentage of completion or milestone basis.
Billing Integration: Automate invoicing for clients based on project progress or completed tasks.

Multi-Currency and Multi-Project Support

Support for managing projects in different currencies and consolidating budgets and expenses for global projects.
Ability to manage multiple projects simultaneously and roll up the financials at different levels (project, portfolio, or organizational).

Forecasting and Projections

Based on current spend rates and project progress, the system provides forecasts for future expenditures.
Cash Flow Projections: Estimate future cash inflows and outflows related to the project to manage liquidity.
Earned Value Analysis (EVA): Analyse project performance and progress in terms of budgeted costs and actual expenditures to predict future financial outcomes.

Integration with Other ERP Modules

General Ledger: Automatically post project-related transactions to the general ledger, ensuring accurate financial reporting.
Accounts Payable/Receivable: Integrate with invoicing and payment processing for project expenses and client billing.
Procurement and Inventory: Link the project budget with procurement processes to track material costs, orders, and delivery times.
Payroll and HR: Integrate labor costs and employee time tracking into project budgets.

Reporting and Analytics

Generate detailed financial reports, such as:

Budget vs. Actual Reports: Show budgeted amounts, actual expenses, and variances.
Cost Breakdown: Provide insights into specific cost categories and their contribution to the overall project budget.
Project Profitability Reports: Analyse project financial performance, including revenue, costs, and profitability margins.
Progress Reporting: Combine financial data with project milestones to provide a holistic view of project performance.

Compliance and Audit

Ensure adherence to financial regulations and internal policies by maintaining an audit trail of all financial transactions related to projects.
Track approvals, modifications, and adjustments to project budgets and expenses for transparency.

Change Management

Change Orders: Handle project scope changes and ensure that any new expenses or budget adjustments are properly tracked and integrated into the overall budget.
Budget Revisions: Adjust the project budget to reflect changes in scope, cost estimates, or unforeseen expenses.

Project Closure and Financial Reconciliation

At the end of a project, reconcile all financial data, ensuring that all expenses are accounted for and compared against the budget.
Generate final financial reports, such as project profitability, and ensure proper accounting treatment for any remaining assets or liabilities.

Benefits of the Project Budget Accounting Module:

Cost Control: Helps prevent budget overruns by providing real-time tracking and alerts.
Informed Decision-Making: Offers financial insights that assist project managers and stakeholders in making data-driven decisions.
Accuracy: Automates many financial processes, reducing the risk of human error.
Efficiency: Streamlines budget planning, tracking, and reporting, reducing the administrative burden on project managers and finance teams.
Profitability Management: Enables organizations to maximize profitability by aligning resources and costs with project outcomes.

In summary, the Project Budget Accounting module ensures that financial management within projects is transparent, controlled, and aligned with organizational objectives. It enhances accountability and efficiency, helping organizations complete projects within budget and on time.

Project Budget Accounting Module:

Project Budget Monitoring Report.
Project Actual Monitoring Report.
Project Monthly Budget Report.
Project Monthly Actual Report.
Project Monthly Budget vs Actual Comparison Report.
Audit trail History User wise for all transactions and setup forms.

Inventory Control Management:

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:

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.
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.
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.
Multi-Location Management: For organizations with multiple warehouses or locations, the Inventory module provides tools for managing inventory across different sites.
Goods Receipt and Issuance: It records the receipt of incoming goods or materials and the issuance of items for production, sales, or other purposes.
Stock Transfers and Adjustment: Businesses can initiate and track the transfer of inventory between different locations or departments.
Inventory Status: The module offers real-time visibility into inventory status, including available stock, on-order stock, and backorders.
Cycle Counting and Physical Inventory: It supports cycle counting processes to periodically verify inventory accuracy and reconcile physical inventory counts with system records.
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.
Inventory Reports: Users can generate various reports related to inventory, including stock levels, movement analysis, and obsolete inventory reports.
Supplier Performance: Some Inventory modules provide insights into supplier performance, helping organizations evaluate supplier reliability and lead times.
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.
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 Quantitative Location Wise.
Goods Stock Valuation Report.
Goods Receipt Note Report.
Goods Stock Issue Note Report.
Goods Stock Issue Return Report.
Goods Stock Transfer Report.
Goods Stock Receiving Report.
Goods Stock Adjustment Note Report.
Goods Receipt Note Return Report.
Goods Stock Integration with General Ledger module.
Audit trail History User wise for all transactions and setup forms.

Fixed Asset Management:

The Fixed Asset Management module in an ERP system is designed to manage and track the lifecycle of an organization’s fixed assets, such as property, equipment, vehicles, machinery, furniture fixture, computers, and other long-term assets. This module helps ensure that assets are properly recorded, maintained, depreciated, and disposed of in accordance with financial regulations and company policies. and book value is calculated of all assets.

Key Features and Functions of the Fixed Asset Management Module:

Asset Register

Asset Master Data: Maintain detailed information for each asset, such as asset type, acquisition date, purchase cost, asset number, location, and responsible department.
Classification: Assets can be categorized into different groups (e.g., buildings, machinery, IT equipment) for easier tracking and management.

Acquisition and Capitalization

Record the purchase or internal production of fixed assets.
Capitalization: Once an asset is acquired, it is capitalized, meaning it is recognized as a long-term asset in the financial statements by purchase invoice transaction.

Depreciation Management

Automate the calculation of depreciation using various methods (e.g., straight-line, declining balance, or sum-of-years-digits).
Set up depreciation rules based on asset categories, useful life, and tax regulations.
Track accumulated depreciation for each asset.

Asset Transfers

Internal Transfers: Track the movement of assets between departments, locations, or divisions.
External Transfers: Record the transfer or sale of assets to third parties.

Asset Maintenance and Service

Schedule and track regular maintenance activities to ensure that assets are functioning efficiently.
Record costs related to repairs, maintenance, and upgrades.
Generate alerts or notifications for upcoming maintenance or inspections.

Revaluation

Adjust the value of an asset on the balance sheet due to market conditions, improvements, or other factors.
Revaluation can be positive (increase in value) or negative (decrease in value).

Asset Disposal

Record the sale, retirement, or scrapping of assets.
Calculate the gain or loss on disposal, taking into account depreciation and the asset’s book value.
Ensure proper accounting of disposal in financial reports.

Integration with Finance Module

General Ledger: Automatically post depreciation, revaluation, and disposal transactions to the general ledger.
Accounts Payable/Receivable: Link asset purchases and sales to the corresponding financial accounts.
Tax Reporting: Ensure compliance with tax laws by tracking asset-related expenses and depreciation for tax purposes.

Asset Reporting

Generate detailed reports on asset valuation, depreciation schedules, maintenance history, and disposal records.
Analyse asset utilization, costs, and performance to make informed decisions on future investments or replacements.

Compliance and Auditing

Ensure compliance with local accounting standards and regulations regarding asset valuation, depreciation, and disposal.
Maintain audit trails for asset acquisitions, maintenance, depreciation, and disposal, providing a transparent record for auditors.

Asset Insurance Management

Track and manage insurance policies for valuable assets, ensuring that they are properly covered in case of loss or damage.

Benefits of Fixed Asset Management Module in ERP:

Improved Accuracy: Automates tracking and reporting, reducing manual errors.
Cost Efficiency: Helps optimize the use of assets and reduce unnecessary capital expenditure.
Regulatory Compliance: Ensures adherence to financial reporting standards and tax regulations.
Asset Visibility: Provides real-time visibility into the status and value of assets across the organization.

The Fixed Asset Management module enhances control over an organization’s asset base, ensuring that assets are optimally utilized, depreciated properly, and replaced or disposed of at the right time.

Fixed Asset Management Module:

Assets Master (Computer, Equipment, Furniture Fixture, Building, Vehicle, Plant, and machinery etc.)
Fixed Asset Purchase
Fixed Asset Sales \ Disposal\ Transfer
Fixed Asset Monthly Depreciation Calculation Process.
Fixed Asset Register Report.
Fixed Asset Depreciation Schedule Report
Fixed Asset Purchase and Disposal Report
Audit trail History User wise for all transactions and setup forms.

VAT Compliant:

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:

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.
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.
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.
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.
VAT Filing: ERP system provides e-filing capabilities, allowing businesses to electronically submit their VAT returns directly to tax authorities, where permitted.
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.
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.
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.
Multi-Jurisdiction Support: For businesses operating in multiple jurisdictions or countries with varying VAT rules, the module can handle different VAT regimes and rates.
Audit Trails: Detailed transaction history and audit trails are maintained to track changes and updates related to VAT transactions for auditing purposes.
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.
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:

Software User's credentials creation.
Software User's rights to access forms and reports.