Streamlined Financial Management with Managex
The Accounts Module within Managex serves as the financial nerve center, seamlessly integrating data from other operational modules like POS, Purchases, and Inventory. Here’s a comprehensive overview of the key components covered in the manual:
Chart of Accounts - View and manage the chart of accounts—a foundational framework for financial transactions. It includes pre-defined accounts for assets, liabilities, income, and expenses. Additionally, you have the flexibility to add new accounts as needed.
Petty Cash Expenses - Record petty cash or expense payments made within your organization. Categorize these expenses by selecting the appropriate expense accounts. Efficient management of petty cash ensures accurate financial records.
Transaction Journal - The transaction journal automatically captures transactions from other modules. Whether it’s sales, purchases, or inventory movements, this central hub ensures accurate and real-time data. You also have the option for manual journal entries when necessary.
Reports
This module includes insightful reports such as:
Profit & Loss Statement: Evaluate your income and expenses, calculate gross/net profit, and gain insights into overall financial performance.
Balance Sheet Report: Understand your organization’s financial position by assessing assets, liabilities, and capital accounts.
Item Profit & Loss: Dive into profitability by product. Identify which items contribute most to your bottom line.
Order Profit & Loss: Assess profits per sales order, helping you optimize your sales strategy.
Account Ledgers: View detailed transactions impacting specific accounts. Stay informed about financial movements.
By leveraging these features, businesses can automate accounting processes, generate critical financial statements, and gain valuable insights into profitability, cashflows, and overall financial health. With Managex, financial management becomes efficient and transparent!