Financial Accounting

All the financial transactions of an academic campus finally flow into the Financial Accounting System of LSAcademia ERP which is especially designed to meet the accounting needs of academic institutions. The system provides pre-defined GL Account Groups and GL Accounts as per Indian Governments requirements mentioned in schedule-VI. It also gives fexibility to create user defined GL structure with options for using natural account numbers, GL accounts with user defined names and GL accounts with automatically generating numbers.

The system provides six types of basic vouchers which can be further used to create user defined voucher types, as required. The voucher number generation can be automatic or user defined. There is option for voucher approval process which can be configured to meet approval hierarchy of the institute. There is multiple currency support in vouchers with provision to enter cheque/DD details and attaching supporting documents. Budget Control function allows to define different types of budgets heads and their allocations. There is option to record all the financial investments being done by the institution. The system is able to calculate the accrued interest and also give alerts for the maturity date of investment. Provision is also available to record details and track all the DD/FDR/BG being received as EMD against tenders floated by the institute.

The Financial Accounting module of LSAcademia ERP offers a powerful financial reporting tool that provides analytical information essential for taking important decisions and to understand the financial health of the institute. There are Drill-Down Reports and Chart Representations for in-depth understanding of the data. The reports can be easily customised. The system also provides all the reports meeting the Indian statuary financial reporting requirements.