In any school or institution of higher learning that is operating at its full capacity, expenses are inevitable. Such institutions are required to keep monitoring and processing their day-to-day expenses which include those of backed workers, school facilities, and workers under a contract with the school. ZenoxERP enables learning institutions to be able to manage their daily accounting with ease. With this software, learning institutions can be able to have a complete picture of their financial health and it also provides them with the flexibility to add or minus expenses as required. This amazing software also provides institutions with tools that enable them to update automatic accounting systems.
This software is very important as it gives institutions the option of including essential information when creating new expenses such as you can be able to edit the expense type details and updating existing expenses information. ZenoxERP student information system helps to reduce the cost of processing an expense claim and at the same time allows an institution to improve accounting accuracy and to be able to increase its employee's satisfaction and productivity. Some of the advantages of using a system such as ZenoxERP's accounting management are as follows.
- It helps in the enforcement of expenses. Learning institutions can program this system so that it can be able to flag and even some extent deny items that are not valid school expenses. The institution can use ZenoxERP to set limits for any form of expenses that has to do with its employee such as lunches.
- It provides better information. ZenoxERP's accounting management software offers learning institutions a lot of options for monitoring spending. It also enables learning institutions to be able to track expenses either by an individual or by the department. It is able to achieve this because it is a fully automated system that enables its users to be able to generate reports that can be used to point out potential abuses or even inaccuracies.
- It is economical. ZenoxERP significantly reduces costs associated with manual accounting processes as it provides instant access to student fees and other transactions. It also ensures that all transactions are processed quickly. Our student information system ensures that educational institutions do not have to use the excessive manpower required to handle manual accounting processes effectively. This results in significant cost reduction.
- It is efficient. With the help of ZenoxERP, institutes employees are able to generate associated receipts and expenses at their convenience as it does not matter what time they send these reports since the system automatically undergoes an evaluation process that is tailor-made for the institution.
- It helps in analyzing and monitoring the entire accounting system. ZenoxERP's accounting management system module specifically complements financial health by enabling institute managers to view all activities in real-time to help them better manage the risks involved. This allows educational institutions to reconcile expenses and create permanent records easily.
A manual journal entry consists of reference number, transaction date, description, debit account with amount and credit account with amount.
Contra entries include date of transaction, reference, amount withdrawn from, amount deposited to, amount and notes. Contra entry indicates where the cash came & goes.
Vendor billing is an accounts payable process that manages payments to vendors who provide goods, services or supplies to your learning institutions.
Inventory/Material Purchase has the options to add purchase number, date, vendor, product or service, account, net amount, qty, taxes, payment schedule, grand total etc.
Expenses are meant to manage the day-to-day expenses of institutes. It has option to add date, vendor, amount, tax, account, payment mode, payment made through, narration etc.
Payment includes vendors, payment date, paid amount, TDS, paid amount, payment mode, bank, reference, transaction id, narration, installments, etc.
Refund has an options to add refund date, students/customer name, amount, taxes, payment mode, transaction status, banks name, remarks etc.
Royalty payment includes payment date, paid, used and available amount, payment mode, payment by, transaction details, payment status, created & updated by etc.
Day Book Report
In the day book report user can get details like date, debit account, credit account, types, reference number, debit amount, credit amount etc.
Ledger & Journal Report
User can get complete ledger of each accounts in ledger report such as account, date, type, debit & credit etc. Journal report will provide all related details.
Balance Sheet & Trial Balance
ZenoxERP accounting management tool provides accurate balance sheet with trial balance which includes assets, liabilities, capital, debts etc.
Profit & Loss
Profit & Loss account will give you complete picture of the total revenues, costs, expenses for a particular period which shows whether your business made profit or loss.