BEST ERP

Financial Accounting Module

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Financial Accounting Management … In General
 Financial accounts are the records of the financial dealings of the business, their
every day transactions. The main role of financial accounting is to:
 Record financial transactions; e.g. collecting money from sales, paying suppliers, salaries
and wages.
 Help the managers to manage the business more efficiently by preparing regular financial
information e.g. monthly management accounts showing sales, costs and profits against
budgets, forecasting cash flows, cost investigations.
 Provide other stakeholders with legal/vital information (financial accounts: trading
account, profit and loss, and balance sheet).
 Shareholders – how their investment is doing.
 Suppliers – can they give the business trade credit.
 Banks and lenders – can the business meet repayments of loans and risks of loaning the
business money. Inland revenue – tax returns.

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Financial Accounting Management … How they manage now
 Using popular Windows based TALLY Software.
 But TALLY has limited Reporting Capability & cannot be integrated with other Alien
Software Applications.
 Moreover Budget has less control over what is going out in terms of cash outflow, and
what they are loosing in terms of lost revenues due to non collection/under billing. In
cases there has been instances where services delivered to customer is not billed at all.
 In the past there has also been instances wherein their former accountants have
mismanaged daily office cash with them, by pocketing them.
 Budget is growing at a good pace with outstanding upto 2 crores in the market.
 Hence they can no more rely on Accounting Software which does not give them flexibility
in terms of time and place of access.
 They also need to control Internal Accounting Practice in terms of Customer Billing,
Collections, Day Cash Expense etc.

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Financial Accounting Management … Need of the hour
 To move from TALLY Software to a Scalable & Flexible Web Based Financial
Accounting Management.
 Have control on Cash Flow within the organisation.
 Have access to key financial documents at ease and on demand.
 Control Voucher Postings using the proposed systems.
 Maintain Documentary Proof of Transactions .. If need arises.
 Allow integration of different business practices to integrate with the new system to have
real-time view of Receipts & Payments.
 Have transaction based Email or SMS Alerts to control Key Accounting Areas.

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Financial Accounting Management … Proposed Solution

 Web Based Financial Accounting Management

 Scalable for Management Accounting.
 Multi Company Accounting As per Indian Accounting Standards.
 Anytime Anywhere Web Based Access.
 Unlimited Users
 Customization on Demand.
 Open to Integration with Alien Software Systems.
 Based on 3 Tier Architecture.

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Financial Accounting Management … Technology Platform

Microsoft Microsoft Stored Microsoft

SQL .net Procedures Visual
Server = as = and = Studio
as Framework Dynamic 2005
Database Link with
Libraries ASP.net
as and
Middleware C#.net

Microsoft Technology
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 Financial Accounting Management … Solution Architecture

Dynamic
Link
Libraries FAM
Database

Stored
Procedure

FAM
Application

3 Tier Architecture Copyright - Turtle Republic 7

Financial Accounting Management … 3 Tier Architecture - USP

 Have been used to write BEST – Courier Module

 Scalability: The key 3-tier benefit is improved scalability since the application servers
can be deployed on many machines. Also, the database no longer requires a connection
from every client -- it only requires connections from a smaller number of application
servers.
 Improved Data Integrity: since all updates go through the middle tier, the middle
tier can ensure that only valid data is allowed to be updated in the database and the
risk of a rogue client application corrupting data is removed.
 Improved Security: Security is improved since it can be implemented at multiple
levels (not just the database). Security can be granted on a service-by-service basis.
Since the client does not have direct access to the database, it is more difficult for a
client to obtain unauthorized data. Business logic is generally more secure since it is
placed on a more secure central server.
 Reduced Distribution: Changes to business logic only need to be updated on the
application servers and do not have to be distributed to all the clients.

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Financial Accounting Management … 3 Tier Architecture - USP

 Improved Availability: Mission-critical applications can make use of redundant

application servers and redundant database servers. With redundant servers, it is
possible to architect an application so that it can recover from network or server failures.
 Hidden Database Structure: Since the actual structure of the database is hidden
from the caller, it is possible that many database changes can be made transparently.
Therefore, a service in the middle tier that exchanges information/data with other
applications could retain its original interface while the underlying database structure
was enhanced during a new application release.
 Writing Software's on 3 Tier Architecture is a rare practice even with Established
Mid Sized IT Firms.

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Financial Accounting Management … Features

 Super Administrator
 Company Level Administrators
 General Users

 Company Account Info

 Groups & Sub-Groups
 Accounting Vouchers
 Ledger & Sub-Ledgers
 Trial Balance
 Profit & Loss A/c
 Profit & Loss Appropriation A/c
 Balance Sheet
 Cash Flow Statement
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Financial Accounting Management … Value Added Features

 Accounting Integration with BEST – Courier Module

 User Activity Logs – Event Stamps & Time Stamps
 User Access Rights Management
 Transaction Approval before Execution e.g. Voucher Postings etc.
 Documentary Proof of Transactions via e-document Attachments Storage
 Generate SMS on Pre-defined Events.
 Generate Email on Pre-defined Events.
 Custom Data Imports *** Falls under Legacy Data Import Category
 Custom Data Exports
 Custom Reports

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Financial Accounting Management … User Hierarchy

Super Company Level General

Administrator Administrator User

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Financial Accounting Management … User Rights - Administrative

Manage Company Manage General Manage

Administrators Users Transactions

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Financial Accounting Management … User Rights - General

View Add New Delete Modify Print

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 Financial Accounting Management … Execution Plan

Total Cost = 20% on Day 1 + 30% on Day 29 + 30% on Day 57 + 20% on Day 112

Day 7 Day 14 Day 21 Day 28

System Requirement Graphic User Interface Company Account Info , Groups & Ledgers,
Specification Preparation Development & Voucher Postings & Approvals, Activity Logs = A
& Sign-off by Client Sign-off by Client

Day 35 Day 42 Day 49 Day 56

Data Entry in A on a non production System ALPHA Level – Testing/Debugging
User Management Test Outcome Report Sign Off by Client
Trial Balance, P/L A/c, Balance Sheet
Day 63 Day 70 Day 77 Day 84
Accounting Integration BETA Level – Testing/Debugging Final Integration
with BEST – Courier Module Test Outcome Report Sign Off by Client

Day 91 Day 98 Day 105 Day 112

GAMMA Level – Testing/Debugging
Test Outcome Report Sign Off by Client
User Training
GO LIVE

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Financial Accounting Management … Terms for Working

 20% as Advance with Purchase order in name of Turtle Republic towards Activation.
 Pilot Model without Best - Courier Module shall be ready by 42nd Day of Project Activation.
 Travel, Food & Stay for execution work outside Delhi will be extra as per accruals.
 Client is required to sign-off at each level of development.
 Post System Requirement sign-off by Client, all changes requested will be additional and
chargeable @ Rs. 100 per Hour per Developer + 10.3% Service Tax. The same is to be
communicated to the development team via Filling up the Change Request Form available
with them.
 Progress Report will be filed with Client on every Friday.
 All online/offline communication/discussion need to be documented and filed properly. In
case of offline one-to-one discussions, minutes of the same to be prepared and signed by
the participants thereof.
 12 months of free support will be provided post Go-Live of the project.

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Financial Accounting Management … Terms for Working

 The Solutions is estimated to Go Live by 112th Business Day from Project Activation.
 Working Business Days does not include Sundays, Central & Delhi Govt. Holidays and
Monthly Saturday Offs at Turtle Republic.
 Two Nos. of Full Time Qualified & Experienced Developers will be provided on-site by
Turtle Republic.

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Financial Accounting Management … Costing

 Software Development Cost

Rs. 3,25,000/- + 10.3% Service Tax

 Legacy Data Migration Cost per Company

Rs. 35,000/- + 10.3% Service Tax

 Approved Addition Charges

Rs. 100 per Developer per Hour + 10.3% Service Tax

 SMS Gateway and SMS Credits Charges

As per SMS Gateway Principal

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Thank You

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