Financial Accounting

About

There is no doubt, that the need for a financial system that holds and manages your finance related transactions and entities, is essential.

We provide you with a financial system that includes:

  • General accounting
  • Financial accounting

General Accounting

The general Accounting Module acts as the maestro and the brain of any Financial System where mainly charts of accounts and their related journal entries reside in besides some master data of the system such as currency. Through General Accounting Module, you will be able to:

  • Build your Chart of Accounts tree.
  • Input accounts’ initial balances such as customers, vendors, treasury, and banks.
  • Automate your journal entries through the automatic integration with transactions such as sales, purchases, funds, and expenses.

Key features

  • The ability to build, modify, and develop a flexible chart of accounts with up to 12 levels with the ability to suspend any of your sub-accounts or even main accounts and continue functioning them at any time.
  • The ability to create Currency List and rates of exchange for them (besides the ability to override that in each transaction separately such as sales or purchase invoices).
  • The ability to Input Initial Balances for your accounts.
  • Besides Journal entries automation you can create and add manual journal entries such as adjustment and closing journal entries.

Financial Accounting

The payments and funding methods for your core transactions from sales and purchases as treasury, banks, accounts receivable, and accounts payable are handled through the Financial Accounting Module of HSABATI system.

Key features

  • The ability to create a Cash-In and Cash-Out Receipts.
  • The ability to create a Cash-In and Cash-Out Bulk Receipts.
  • The ability to transfer money between treasuries in case of HQ and branches treasuries.
  • The ability to create and add your Bank transactions based on their natures (Debit – Credit).
  • The ability to automate journal entry creation based on the above.

The ability to create and Record the five main transactions for accounts receivables.

  • Direct collection.
  • Direct Return.
  • Cheques transfer for others
  • Cheques under collection.
  • Cheques returns

The ability to create and Record the main transactions for accounts payable.

  • Initiate cheques.
  • Collecting cheques.

Added Values

  • No matter how your business is complicated, with HSABATI Chart of Accounts you can build a tree consisting of up to 12 levels of sub-accounts.

Instead of wasting time in doing all-day long routine work such as recording journal entries for every transaction occurs in your company, let your virtual accountant handle the job and start optimizing efforts of your department in adding value. With the automated integration between your general accounting system of HSABATI and all business units that have a direct financial reflection. Your virtual accountant is always on.

You can review and print all your financial statements at times you determine.

By analyzing your expenditures and funds for your business, you know where your next step shall be.

System Key reports

  • General Ledger.
  • General Ledger Balance.
  • Sub-Ledger.
  • Sub-Ledger Balance.
  • Trial Balance (Default).
  • Customized Trial Balance (Design your own Trial Balance).
  • American Journal.
  • Detailed and summarized Payments and funds Journal.
  • Income Statement.
  • Balance Sheet.
  • Cash-IN Receipts classified by period, customer, serial (From – To).
  • Cash-OUT Receipts classified by period, customer, serial (From – To).
  • Detailed and summarized daily Treasury INs and OUTs per period.
  • Bank Statement
  • Banks trial balance
  • Due Cheques.
  • Cheques under collection
  • Cheques classified by states, due date, bank account, and service providers.
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