Account Consolidation Application

The Account Consolidation Application uses software that helps in organizing the allocation of budgets, periodic capturing of revenue and expenditure data from distributed operation centers. It also looks into aspects of generation and distribution of consolidated and periodic reports to corporate office and operation centers. The efficiency, ease and regularity of the software help in avoiding mistakes that can be made when done manually, which could have serious repercussions.

The basic functioning is done by recording and processing accounting transactions within functional units such as payroll, accounts receivable, accounts payable and trial balance. This functions essentially as an accounting information system.

Sankya’s Account Consolidation Application is a browser based application (Java, JS, My SQL, and Tomcat). With companies slowly expanding their market reach and becoming bigger functioning units, keeping track of all the finances is no mean task. With the aid of Sankya’s software one is assured of avoiding errors in numbers, missing out on invoicing customers for all necessary goods and services, overlooking collecting the receivables etc. It also looks into regular repetitive tasks involved in the payroll sector and more. The obvious advantages of the functioning are:

Dependable Accounting done in the Payroll Sector:
Tasks like the payroll sector is one that happens periodically. Instead of wasting time and human resources by appointing workers in that area, Sankya’s solution takes care of the problem and handles it faultlessly, thus doing away with wasting time, resources and finance of the task.

Accounts Receivable:
Receivable can be defined simply as all that is due in terms of finance to a company by entities outside. The accounting software keeps a regular and clear track of this trail and ensures that everything due is stated clearly with accurate dates, information and much more.

Accounts Payable: All the payables of the company are tracked and listed so that no payment due is late or missed out on. This helps build up a more professional relationship with the suppliers and improves the reputation of the company besides managing its finances.

Track of General Ledger:
The software also keeps a track of all the finance and expenditure with a careful record of all the generations of transaction and billing. This helps the company have a track on all the accounts and to be able to identify and pull up any information whenever needed.

Tab on Stocks, Inventory and Purchase Order:
A careful tab is kept on all the stocks and inventory of the company so that nothing is found missing or unlisted. Purchase orders are also kept updated periodically in order to ensure that the company supplies are regular and that they aren’t lacking in any requirements.

Besides all these function, Sankya’s Account Consolidation Application also ensures that other aspects of accounting such as debt collection, employee expenses, reports and data of finances are all tracked and looked into carefully. Time sheets are also managed so that the consultants of a company such as a lawyer etc can be invoiced to a client as and when needed.

All these features help a company greatly with not just its functioning, but also to maintain its repute of being professional and avoiding errors that could result in serious set-backs for not just the company, but also the clients. Sankya’s professional solution takes care of these problems in an easy and completely cost-effective manner.