Jewel - Cash Manager

An improvement in profit is one of the principal goals of business. To attain that objective it is essential that the management makes more informed choices and manages the company’s finances more effectively. Since cash management is one of the most crucial tasks in the jewelry business the finance department would want to scrutinize & track every transaction made.

Cash Management helps in reconciliation of monthly bank statements, check & credit card transactions and assists in tracking account balances. This module is fully integrated with the Accounts Receivable, Accounts Payable and the General Ledger modules. It also provides current balances for all cash accounts.

Module Highlights

• The bank reconciliation feature enables reconciling debit versus credit transactions or reconciling your data with the bank's records
• Bank transfer option makes fund exchange easier and manages the cash deposits and withdrawals from bank accounts
• Interface provided with Accounts Payable to ensure automatic posting of labor charges payable and with Inventory module to automatically update stock in case of returns from the contractorEnhances decision making by providing daily, weekly, monthly and yearly reports
• Records any payment term given to you by a customer such as checks, cash or bank transfers
• Issues a payment to your suppliers, allocates payments to open purchase invoices, and automatically prints the check
• Enables you to deposit cash checks to the bank

Setup

• Bank Account
  This section is used to enter details about the bank account and assign a specific ID to each bank. Hereafter specific details like the kind of accounts and sub accounts that will have transactions in these particular bank accounts are also defined. This exercise will help simplify and streamline the process of administering and monitoring of multiple bank accounts operated by a business entity.
• Expense Services
  The various expenses that will be incurred by an organization can be classified and defined here. These expense services are linked to specific General Ledger accounts in to enable summarization of expenses incurred
• Account Category
  Various accounts are classified here depending on their specific nature. Examples of account categories would be current assets, long-term liabilities, other expenses, cost of goods sold.

Transactions

• Payment
  This screen is used whenever a payment is made through any of the bank accounts that are operated by the organization. When the transaction is made the relevant account categories get debited accordingly.
• Deposit
  This screen is used whenever a deposit is made through any of the bank accounts that are operated by the organization. When the transaction is made the relevant account categories get credited accordingly.
• Bank Transfer
  This screen facilitates the record of funds transferred from one bank account to another. Users need to enter the account numbers and the amounts .The account balances in the system get updated accordingly.
• Bounce Check
  Is used to record details of check bounces and the subsequent payment charges incurred. These include both, cheques that have been issued and received.
• Void Check
  This is used to maintain a record of cheques that need to be ignored by the system .This happens in cases where cheques that have been recorded as issued in the system are later cancelled for business reasons.
• Bank Reconciliation
  This enables you to match your records with those of the bank .The matching confirms the payments and deposits made through the bank account being reconciled.
• Make Transaction View Only
  Transactions that have been completed can be made as view only to ensure that they are not altered. This can be done for a particular transaction or a range of transactions

Reports

• Check Register
  This feature gives a complete list of cheques issued with details of cheque number, payee name and the related account ID .Is useful to obtain a summary of the total payments issued from each account.
• Deposit Register
  This gives the complete list of details of deposits made in each account and the source of each deposit. This can be obtained for a particular day or even for a selected range of time. The report can be easily customized to give more detailed information or to give just an overview.
• Bank Transaction Report
  This report can give the balance in a particular account at the end of the day’s transactions i.e. payments & receipts. Currently the report is available in 2 formats, i.e. with the description of the transactions done and without.
• Bounce Check Report
  This gives the number of cheque bounces for an accounting period with the amounts and charges paid.
• Bank Reconciliation Report
  This is the facility to obtain a printed report of the reconciliation done till date and also for a particular range of dates.
• Expense Services Statement
  This is a statement showing the expenses incurred on a particular date or a range of dates. A category wise break up of expenses makes it easier for the accounts team to keep track of balances.
• Check Printing
  This prints a the list of checks printed with details like transaction date, check numbers etc.
• Set up Reports
  The set up reports function generates ready reference lists of the items enumerated in the set up menu of the module .The Cash Manager module has the following set up reports.
• Bank Account
  Gives a list of bank accounts that are being operated by the company.
• Expense Services
  This gives a complete of the expense services defined by you.
• Account Category
  This acts as a reference list of all account categories that have been set up by users.
• Chart of Account
  This is a list of all GL accounts that have been set up.