Accounts & Finance
Streamline your financial processes, enhancing accuracy and efficiency in financial transactions and ensure safety and confidentiality of data and experience real-time financial reporting with our Accounts & Finance Module.
Key Features
1
Manages Financial Transactions
Maintains a comprehensive financial transaction repository with multi-segment general ledger structures for complex organizations. Efficiently manage and track outgoing payments, vendor invoices, and payment schedules. Monitor incoming payments, customer invoices, collection processes, and credit control, ensuring streamlined and efficient financial operations.
2
Financial Reporting and Analytics
Generate financial statement as per accounting standards such as income statements, balance sheets, and cash flow statements for informed decision. Additionally, it offers consolidated and branch-wise customizable financial reports and dashboards, facilitating informed decision-making for stakeholders for enhanced financial management and strategic planning.
3
Bank Reconciliation
Automate reconciliation of banking transactions with accounting records. Identify discrepancies and exceptions for resolution. Match and reconcile bank statements with recorded transactions for accuracy. Allows to update cheque status as per physical transactions for reconciliation. BX software automates and streamlines this process, reducing errors and saving time.
4
Supports Tax Management and Compliance
Automatically calculate and track various types of taxes including Sales tax, Advance tax, Withholding Tax and Income tax to mitigate human errors and saves time. Ensure compliance with tax regulations and manage tax liabilities efficiently. Generates tax reports for compliance purposes.
5
Financial Consolidation
Integration of Financial Data combines financial data from various business units or subsidiaries. Provide a consolidated view of the organization's financial health. Enable stakeholders to make informed decisions by viewing data of all locations at single window. Simplify and improve financial management processes and enhance compliance with regulatory standards.
6
Cash Flow Management
Tracking and analyzing the inflow and outflow of cash. It provides real-time visibility into cash balances. By offering detailed reports and dashboards, cash flow management enables businesses to make informed financial decisions, optimize cash reserves, and ensure they can meet their short-term obligations and invest in growth opportunities.
7
Intercompany Transactions
Intercompany transactions in BX software handle financial transactions between different entities within an organization. The system ensures proper intercompany accounting and reconciliation, maintaining accurate records and streamlining the financial operations across various business units. This enhances transparency, reduces errors, and improves financial management efficiency within the organization.
8
Cheque Book Management
Maintain a centralized record of all cheque books issued and used. This system helps users to issue new cheque books with a simple method and track their distribution as well. Additionally, it allows monitoring of individual cheques for usage, status, and reconciliation, ensuring comprehensive tracking and management and enhance security as well.
9
Customer and Vendor Ageing Analysis
Customer and vendor ageing analysis involves tracking outstanding receivables and payables. It provides a detailed breakdown of outstanding invoices, categorizing them into different time periods (such as 30 days, 60 days, 90 days, etc.). This analysis helps businesses manage cash flow, identify potential collection issues or overdue payments, and prioritize follow-up actions.
10
Branch Wise Payment Schedule
Define and manage payment terms specific to each branch and helps to create and manage installment plans for payments, including due dates and amounts for each installment. Automatically generate payment schedules based on predefined rules and conditions. Generate invoices specific to each branch and track the status of invoices (paid, pending, and overdue) for each branch.
Retail:
- In retail, POS systems are the heart of daily operations. They handle transactions, track inventory, manage customer information, and generate sales reports.
- Retail POS systems often include features like barcode scanning, loyalty programs, and integrated payment processing to enhance customer experience and streamline operations.
Restaurants and Cafes:
- POS systems in the hospitality industry are tailored to manage orders, process payments, and coordinate between kitchen and front-of-house operations.
- Features may include table management, menu customization, split billing, and integration with kitchen display systems to ensure efficient service.
Healthcare:
- Healthcare POS systems are used for patient billing, appointment scheduling, and managing the inventory of medical supplies.
- These systems may integrate with electronic health records (EHR) to streamline administrative tasks and improve accuracy in billing and record-keeping.
Hospital and Healthcare Retail:
- In hospital settings, there are often retail spaces for selling products like over-the-counter medications, medical supplies, and snacks.
Automotive:
- Automotive shops use POS systems to manage parts inventory, schedule appointments, and process payments for services and products.
Some of the most frequently asked questions
The structure comprises hardware and software, which is designed to merge these 2 elements to match the money-exchanging needs.
It can be used for various purposes, but primarily, it is used to inform you about product transactions, inventory, and your daily sales.
POS systems are not limited to any industry; they can be used in every industry that deals in sales and daily transactions on monetary or credit bases.
Point Of Sales, POS are basically are systems with a combination of hardware and softwars.
The POS software is like the main control system for running your physical store and making sales in person.
