||||| Financial Management
FAQ
Q1. Does e-Solution Financial take care of
multiple currencies?
Answer: Yes, you can define foreign currencies in the system
with exchange rates. e-Solution Financial automatically calculates
exchange differences. In addition, you can perform currency
revaluation on a periodic basis.
Q2. Does e-Solution Financial handle VAT/GST?
Answer: You can define you tax rates and accounts in the
system. e-Solution Financial can be set up to calculate VAT/GST in
the AR, AP and bank transaction modules. You may also enter VAT/GST
in GL adjustments. The program produces tax report for selected
period to help you in submitting your tax returns.
Q3. Does e-Solution Financial support
budgeting?
Answer: Yes, you can have a GL and departmental budget of up
to three financial years.
Q4.
Are department income and expenses tracking and multi-dimensional
analysis
available?
Answer: Both departmental tracking and multi-dimensional account
analysis are available in e-Solution Financial. You can set up
departments and define accounts as ‘departmentalized’ for the purpose of
departmental tracking. You can also assign predefined analysis
methods to each account for analysis purposes.
Q5. Can I design financial statements based
on our company’s format?
Answer: Yes, you can make use of the built-in report writer
to do so.
Q6. How can I handle issues arising from
customer associated to one another?
Answer: e-Solution Financial allows you to define associate
relationships among your customers. You can record AR entry for a
customer and ship goods to its associates. When recording
receipts, you can apply receipts from a customer to invoices of its
associates.
Q7. How many financial years can be kept open
at any time?
Answer: Three years.
Q8. What type of chart of accounts are
supported?
Answer: e-Solution Financial supports both flat and
hierarchical structures.
Q9. Can I add
additional accounts later on?
Answer: Yes, you can add accounts to each group at any time.
Q10. Is fixed assets module available in
e-Solution Financial?
Answer: Yes, it is available as an optional module.
Q11. How can I prevent sensitive information from
being seen by unauthorized users?
Answer: You can make use of the security feature to prevent
such users from accessing modules or master records. You can also
restrict access to sensitive fields in the master records.
Q12.
Can I record receipts from customers ‘on account’, i.e. without applying
them to
outstanding invoices?
Answer: Yes, they will be treated as advance payments
received from customers. The same is applicable to payment to
vendors.
Q13. I need project accounting capability.
Which program should I choose?
Answer: e-Solution Financial.
Q14. Can I have some checks and control to the
transactions before posting?
Answer: You can make use of the transaction audit and
approval feature to check transactions before posting them.
Q15. I
give my customers discount for early payment. Can e-Solution
Financial
handle this?
Answer: Yes, you can define early payment discounts in your
payment terms for auto calculation of discount.
Q16.
Do I have to wait till posting is completed to obtain up-to-date
financial
reports?
Answer: No, you can generate financial reports with
un-posted transactions included.
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