An Accounting Software Solution organizes and maintains an organization’s day-to-day financial operations, such as fixed asset management, cost management, revenue management, accounts receivable, accounts payable, sub ledger accounting, and reporting and analytics. A comprehensive accounting system tracks an organization’s assets, liabilities, income, and costs. These transactions subsequently enter the general ledger in real time, giving accounts and finance controllers instant access to up-to-the-minute financial data. This methodical recording of financial transactions allows for the creation of quarterly and yearly financial statements, including as balance sheets, income statements, cash flow statements, and shareholders’ equity statements. Accounting software is an important part of an ERP system.
ATC Online introduces PACIFYCA Accounting Solution, a multi-functional software solution for managing your company’s finances. Our system may be tailored to include all of your accounting practices, customer invoicing, accounts receivable data, and dues. PACIFYCA is a clear and transparent platform that will simplify your balance sheet and improve your cash flow.
PACIFYCA is a universal solution; whether you are a small business just getting started with accounting software or an enterprise-level corporation deciding to deploy an accounting solution, you will have all the key features at your fingertips, such as basic billing, invoicing, payments processing system, electronic tax payment, payroll management, inventory management, and a plethora of other attributes that will add value to your business. Let us now understand how PACIFYCA can address your accounting needs and add value to your business:
AUGMENTED BUSINESS OPERATIONS
PACIFYCA reduces processing time by removing manual computations from your everyday to-do agenda. This allows you to keep your books current without cluttering up your desk. You may also improve your business operations because you no longer need to run stats on multiple applications as you can see everything on a single screen.
PACIFYCA streamlines billing by sending invoices and payment reminders with links to the relevant online payment options. It also assists accounts payable by arranging bank payments and direct transfers, as well as tax payments by putting data into the most often used tax forms and electronically filing them.
PACIFYCA may also assist with payroll by computing hours and taxes, processing wages, and paying payroll taxes. This reduction in manual operations saves time and increases accounting accuracy.
SINGLE REPOSITORY FOR ACCOUNTING
General ledgers, chart of accounts, invoicing, tax management, account reconciliation, accounts payable, accounts receivable, payroll and financial reporting, payments records are all supported by PACIFYCA. It also aids in the administration of financial regulations such as taxes and levies. You may easily access information across numerous platforms and search through electronic data. Furthermore, because PACIFYCA software enables for the synchronization of online and offline databases, data transfer is simplified. Additionally, the solutions provides real-time status updates, allowing you to observe changes as they are made.
Record-keeping is a vital, albeit complex aspect of financial management. PACIFYCA can assess business practices and spot trends in your company’s cash flows in addition to combining data from several apps and integrating it into one complete operating system. The software then computes your bottom line to show you where you are generating more revenue and identifies elements of your business that require greater investment.
IMPROVED ACCURACY & VISIBILITY
PACIFYCA enables teams to conveniently observe and track transactions and manage and maintain up-to-date data. This increases cross-departmental communication. This holistic picture aids in the prevention of errors, the dismantling of departmental silos, the tracking of responsibility, and the avoidance of redundancies. The comprehensive visibility of total performance provided by PACIFYCA makes it easier to modify financing and spending for various areas, boosting the overall health of the organization. It also assists decision-makers in making precise and real-time decisions.
PACIFYCA provides employees up-to-date, accurate information and quickly make decisions for business planning, forecasting and targets. Transactional businesses can benefit by accessing information on the payment method, time and location of specific product sales. On a more basic level, management and other team members can quickly access up-to-date revenues, profits, assets and inventory. They can also easily compare data to other time periods.
ACCOUNTS PAYABLE
Accounts payable management is one of the critical business procedures that aid in the proper administration of an entity’s payment responsibilities. Accounts payable is the amount that the company owes its suppliers or vendors for products and services received. PACIFYCA optimizes the Accounts Payable process through invoice automation, approval procedures, and extensive management across the whole invoicing lifecycle. Businesses may save man hours each month by using our simple and secure accounts payment system.
PACIFYCA allows you to digitally submit and approve purchase orders and invoices for faster processing and improved tracking. Employees submit purchase requests in portions, which finance or procurement departments may rapidly authorize and pay. The software analyses invoices and extracts vital facts, saving even more time and eliminating human errors.
PACIFYCA automates and monitors all managerial approvals, and maintains a detailed audit trail for each invoice paid. When a manager’s permission is required, they are alerted through email, Slack, or text message. They have everything they need to make an educated decision, including the original invoice. You can also bypass approval chains for certain suppliers or validate payments up to a specified amount automatically.
PACIFYCA displays all committed spend, regardless of where a payment is in the lifecycle. Don’t want to wait until bank reconciliation to find out where the company’s money has gone. Stay current in real time. Businesses can keep the supply chain flowing while maintaining control. Your vendors are paid on time, and finance gets real-time access to your records.
BILLING/INVOICING/ONLINE PAYMENTS
Billing and invoicing are critical business operations and the primary source of revenue for an organization. Managing invoicing on paper is time-consuming, laborious, and error-prone. PACIFYCA efficiently tackles these challenges by assisting businesses in creating profiles for client orders and scheduling bills to be sent out automatically each time an order is placed. Payment terms and conditions can also be included in invoices. You may also set up reminders based on invoice due dates or estimated payment dates, and PACIFYCA will automatically send them to your clients. The software can assist businesses manage any overdue bills, encourage consumers to pay on time, and prevent inadvertent payment failures.
PACIFYCA can be effortlessly linked with a variety of online payment gateways, such as bank transfer or credit & debit card, to provide customers with both a quick and secure way to pay for your goods or services. When a payment is received, PACIFYCA immediately records and updates it in your books under the accompanying invoice.
PETTY CASH MANAGEMENT
Petty cash is a very small sum of money on hand allowing employees of a firm to simply and quickly make short, non-recurring transactions. While non-cash transactions are becoming more common for most transactions, cash is still required for modest, one-time purchases. This may be used to order meals for an unexpected meeting, make on-the-spot repairs, pay taxi fares, and so on. PACIFYCA’s petty cash management system assists businesses in ensuring that monies are utilized responsibly and transactions are accurately documented. It acts as an internal control to safeguard the company from theft and fraud, as well as supporting the wider general ledger reconciliation process.
ACCOUNTS RECEIVABLE
Accounts receivable are the sums due to a business as a result of the firm supplying products or services on credit. Companies permit their customers to pay for goods and services over a fair amount of time, as long as the conditions are agreed upon. The accounts receivable process is a critical component of a company’s cash flow, working capital situation, and profitability. Setting and enforcing precise credit standards, as well as conducting an efficient cash collection process, are all critical to success in this field.
The Accounts Receivable solution from PACIFYCA removes the hurdles to regular cash receipts while providing finance professionals with the visibility they need to monitor their organization’s cash flow and achieve positive-sum growth. PACIFYCA automates the accounts receivable processes that are most important to your company, from credit management through collections and everything in between. Invoice processing, general ledger, payment processing, and other services are included.
PACFYCA offers several advantages to organizations, including the automation of normal accounting processes, the elimination of human errors, the accuracy of your books, and much more.
- You can communicate with consumers more easily using PACIFYCA. Typically, you may check account information, write emails, attach bills, generate mail merge documents, and track phone conversations all from a single screen. The finest part is that every conversation is saved for future review and analysis. Improved communication features integrated in accounts receivable can help you save time and better service your clients.
- Invoices may be delivered to clients on the same day they are prepared, and a built-in customer portal and online payment features let your customers to pay you by numerous payment channels such as credit/debit card or bank transfers, providing customers more alternatives to pay you sooner.
- PACIFYCA can be used to store credit reports from bureaus, send credit applications and file them against account records, develop their own credit rating formulas, color-code customers by risk level, and set up alerts to notify them of customers who frequently have disputes or take longer to pay their bills.
INVENTORY MANAGEMENT
PACIFYCA’s inventory management activities may help simplify your business by identifying what you have in stock, what you need to replenish, and where and how budget is being spent. PACIFYCA tracks inventory by following an item’s lifespan, from purchase, stocking to sales, and all the way to shipment.
PACIFYCA can ensure that you order the right product at the right inventory level to keep stock within a certain range. This spares you the trouble of not having things in stock when you need them or having a surplus of products that just won’t sell.
EXPENSE TRACKING WITH BANKING & RECONCILIATION
Failure to correctly track business expenditures is a classic accounting error, and the last thing a firm wants is to suffer a cash flow constraint because expenses are out of sync. PACIFYCA may assist in avoiding this scenario by automating expenditure tracking by scanning and documenting receipts, as well as tracking mileage and expenses made on behalf of customers.
PACIFYCA Accounting Solution may be linked to your bank accounts, allowing you to view your bank statements directly to match and reconcile transactions automatically.
If you make a lot of payments using cheque, PACIFYCA can handle them for you and save you a lot of time. It maintains track of the cheque that have been issued and guarantees that the necessary balance is maintained in the account for their clearing. The software can also be used to trigger cheque voiding and duplicate cheque payment notifications.
TAX COMPLIANCE
PACIFYCA assists businesses in managing all of their GST return forms in one location, including old GST returns (GSTR 1 to GSTR 9) and new GST returns (RET-1, RET-2, RET-3). There is also a dashboard view to show GST return filing status and stage, allowing you to keep up to current and comply with GSTN deadlines.
- Easily create your account
- Generating GST-Compliant Invoices
- Input Tax Credit Calculation Made Simple
- Keeping track of E-Way Bill transactions
- GST Return Filing Simplified
PACIFYCA may also assure TDS compliance for every purchase/payment and receipt transaction. Simply set up the suppliers for TDS by assigning their tax types and tax deduction rates in our accounting software’s vendor and customer master list.
ACCOUNTING REPORTS
Some of the reports that businesses can leverage using PACIFYCA Accounting Solution are:
- General Ledger allows you to check your account activity at any period. Choose your desired date range, accounts, and accounting principle.
- Account Reconciliation Report gives a thorough record of account transactions that corresponded to software entries, as well as outstanding transactions.
- The Cheque Management Register report displays ongoing balances and bank activity information, allowing you to conveniently track cleared cheques and other activities.
- Profit and Loss Statement provides you a thorough analysis of your revenue, costs, and net profit The Profit & Loss Statement assesses your company’s financial health by displaying income and cost information.
- The balance sheet summarizes the assets, liabilities, and equity of your firm at a given point in time. This report will show you how much you owe and how much you are owed.
- Aging Report for Accounts Receivable help companies may remain on top of past due customer bills with a date-by-date breakdown. This report may be customized to indicate which clients are overdue by how many days.
- The trial balance report provides the general ledger accounts’ closing balances. The ledger balances are entered into the debit and credit columns. The sum of these two columns should be equal.
DATA SECURITY & CONTROL
Data protection from theft or misuse is critical for every firm. PACIFYCA can assist you in exercising your authority to choose who has access to your data. In a nutshell, it gives you total control of your data. It also provides backup and security for your personal information. PACIFYCA is tailored to fit your company’s security requirements. It employs the same degree of data protection and encryption as most banking and online businesses.
CONCLUSION
The PACIFYCA Accounting Solution from ATC Online is an automation software suite that consolidates all accounting needs and practices of a business into a single platform.
For more information, please visit us at: www.atconline.biz