BI Soft Tech Standard ERP Software Solution On-premises

Standard Enterprise Resource Planning (ERP) 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 Standard 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:

  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.
  • Audit trail History User wise for all transactions and setup forms.

Sales:

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 \ Contract Management Module:

  • Recurring Invoice Templates.
  • Auto Sales Invoice Generation in bulk Monthly.
  • Monthly Sales Register Company Report.
  • Monthly Sales Register Customer Report
  • Sales Invoice Printing Report.
  • Contract Register Company wise Report.
  • Contract Expiry Report.

Accounts 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:

  1. Customer Information Management: The module allows businesses to maintain detailed records of their customers, including contact information, credit terms, payment history, and billing preferences.
  2. 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.
  3. Billing and Payment Terms: It enables the configuration of billing and payment terms, including due dates, discounts, and penalties for late payments.
  4. 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.
  5. 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.
  6. Aging Reports: The system generates aging reports that categorize outstanding invoices by their age, allowing businesses to monitor and address overdue payments.
  7. Collections Management: Some ERP systems offer collections management features, which help automate the collections process by sending reminders and escalation notices for overdue accounts.
  8. Cash Application: This feature aids in reconciling received payments with outstanding invoices to maintain accurate accounting records.
  9. 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.
  10. 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.
  11. 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.
  •   Monthly Receipt Register Customer Report.
  •  Statement of Accounts Customer wise Report.
  •  Aging Customer wise Report.
  •  PDC Received and PDC Clearance facility.

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:

  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:

  •  LPO and LPO Reversal Report.
  •  LPO Supplier wise Report.
  •  Outstanding LPO Register Supplier wise Report.
  •  LPO Aging Supplier Wise Report.
  •  Invoice Aging Supplier Wise Report.

Accounts 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:

  1. Vendor Management: The module allows organizations to maintain a database of vendor information, including contact details, payment terms, and purchase history.
  2. 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.
  3. 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.
  4. 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.
  5. Expense Tracking: It helps track and manage various expenses, including product purchases, services, utilities, and other payable items.
  6. Payment Scheduling: Users can schedule payments for future dates or set up recurring payments for regular expenses, such as rent or utilities.
  7. Vendor Payments: The module supports the generation and printing of payment checks or electronic transfers to vendors.
  8. Account Reconciliation: Organizations can reconcile their vendor statements with the ERP system to ensure that all invoices and payments are accurately accounted for.
  9. Discount Management: The module helps manage early payment discounts offered by vendors, allowing organizations to take advantage of cost savings.
  10. Reporting and Analytics: Users can access various reports and analytics tools to monitor payables, analyze spending patterns, and assess vendor performance.
  11. 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.
  12. 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 facility.

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:

  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 Register Report
  • Suppliers Purchase Input Register Report
  • VAT Return Report
  • VAT Master Report
  • VAT GL Input Report
  • Vat GL Output Report

Corporate Tax Compliant:

  • Corporate Tax Return Report

Software Administration Module: 

  • Software User credentials.
  • Security rights of end user to access specific forms and reports.