System Nexgen
Financial Accounts Management System
Form Medium and Large Companies

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    Let’s not over complicate this

    • You Need Account Balances

    • You want No More Late Payments

    • You want to track your income and expenses.

    • You want Quick and Easy Account Reconciliation

    • You want Budget Planning on time

    • You need Tax Time Easier

    • You want to Track and Analyse Investments

    • You want to Determine Your Net Worth

    You are right place

    Deployment Solution

    On the Premises

    Software is a type of software delivery model that is installed and operated from a customer’s in-house server and computing infrastructure. It utilizes an organization’s native computing resources and requires only a licensed or purchased copy of software from an independent software vendor

    On the Cloud

    System’s hardware and software antiquated, creating costly capital expenditures. New trend of organizations to move software on clouds to avoid cost of any hardware and software infrastructure. Let’s view some major advantages of your solution on cloud. Software as a Service (SaaS) model that has transformed the way millions of organizations manage their human resource functions today

    Financial Overview

    Financial Accounts Modules

    Chart of Accounts

    • Accounts Receivable and Payable
    • Assets (Fixed Asset and Current Asset)
    • Revenue
    • Liabilities (Long Term Liabilities and short term liabilities)
    • Equity
    • Cost of Goods Sold and Expenditure

    Voucher Definition

    • Cash Account
    • Bank Book
    • General Journal

    Budget Allocation

    A budget is a financial plan used to estimate revenues and expenditures for a specific period of time. It is a management and planning tool, not just an accounting document. It assists in the allocation of resources. A budget allocation is the amount of funding designated to each expenditure line.

    System Nexgen Financial Accounts offer

    • Budget Allocation
    • Budget Monitoring

    Voucher Management

    • Bank Receipt Voucher
    • Bank Payment Voucher
    • Cash Receipt Voucher
    • Cash Payment Voucher
    • General Journal Voucher

    Processing Posting / Un-Posting

    Voucher Posting

    When you post a Voucher, the General Ledger is automatically updated.

    After a Voucher is posted you can no longer make changes to it. To edit any data in a posted Voucher you must un-post it first. For more details see un-posting a Voucher.

    Voucher Un-Posting

    In certain situations you may need to reverse the process of posting a Voucher.

    Un-posting a Voucher enables you to reverse the posted entries in your General Ledger and make corrections to the Voucher. The General Ledger keeps a record of the posted and un-posted transactions so that you have a complete audit trail of the changes.

    Ledger Posted / Un-Posted

    A general ledger account is an account or record used to sort and store balance sheet and income statement transactions. Examples of general ledger accounts include the asset accounts such as Cash, Accounts Receivable, Inventory, Investments, Land, and Equipment.

    Trail

    A trial balance is a bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit columns. A company prepares a trial balance periodically, usually at the end of every reporting period. The general purpose of producing a trial balance is to ensure the entries in a company’s bookkeeping system are mathematically correct.

    Accounts Summary

    Defining Summary Accounts. General Ledger uses summary templates to create summary accounts, whose balances are the sums of multiple detail accounts. Use summary accounts to perform online summary inquiries, as well as to speed the processing of financial reports, Mass Allocations, and recurring journal formulas.

    Balance Sheet

    A statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the balance of income and expenditure over the preceding period.

    Profit & Loss

    A profit and loss statement (P&L) is a financial statement that summarizes the revenues, costs and expenses incurred during a specific period of time, usually a fiscal quarter or year.

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