Powerful Accounting Module in Hinawi ERP - Optimize Your Finances

Introduction

The accounting module in Hinawi ERP is essential for businesses as it offers comprehensive financial transaction management.

It has been active since 1998 and supports various payment types, such as cash, cheques, and bank transfers while tracking guarantee cheques.

The module covers sales and purchase cycles from inquiries to delivery notes, eliminating the need for the accountant to create orders. Additionally, it includes inventory and manufacturing management.

The customizable system supports sorting in Arabic and English and caters to diverse business needs.

A system demonstration can be arranged by contacting the mobile or WhatsApp number +971506228024

A system demonstration can be arranged by contacting the mobile or WhatsApp number +971506228024

Overview of Hinawi ERP Accounting Features

Payments Process

Hinawi ERP offers three payment methods: Cash, Cheque, and Bank Transfer. Each type includes various features and can be configured in Arabic or English for flexibility.

Additional features include Payment Terms, Payment Reminder Email Templates, and Transaction Details Reports to efficiently track payment activities.

Collections Process

The system efficiently tracks all receipts, including cash, cheques, bank transfers, and credit card payments.

Users can create, edit, print, approve, and void payment vouchers. The system provides flexibility in Arabic and English while managing incoming and under-collection cheques.

It ensures financial transparency with Transaction Details Reports, helping monitor late and timely payments and overdue payments.

Sales Process

Process managing quotations, deliveries, invoices, and commissions. Users can track sales from inquiry to delivery, including contract management, various sales invoice types, and credit memos for returns.

The system also handles overdue invoices and commissions, providing financial reports like income statements and financial accounting.

Purchase Process

The purchasing workflow streamlines material requests, purchase orders, and receipts. Users can generate, edit, and approve requests, compare vendor quotes, and approve the best price. The system tracks the entire purchase cycle, efficiently managing purchase orders, receipts, and debit memos for returned goods.

A system demonstration can be arranged by contacting the mobile or WhatsApp number +971506228024

Manufacturing Process

The accounting module streamlines manufacturing by setting up default accounts and tracking materials, labor, and operational costs. Job orders are created to manage production, and materials are issued via Stock Issue Vouchers. The system ensures transparency and accuracy in tracking the entire production process.

Accounts Receivable

When a credit invoice is issued, its financial impact is automatically recorded as a debit to Accounts Receivable. Once the invoice is paid, the system automatically credits the same account; the accountant does not need to make manual entries.

Accounts Payable

Accounts Payable is credited when suppliers provide materials or goods, accurately reflecting the company’s liabilities in cost accounting or inventory. Once the bill is paid, the system automatically updates the account by crediting it, eliminating does not need for the accountant to enter transactions manually.

Posting and Reconcile Cheques Issued

The system manages issued cheques and post-dated cheques (PDCs). Features such as cheque reconciliation and correction of canceled cheques ensure accuracy. Integration with Journal Vouchers helps maintain reliable accounting records for post-dated transactions.

Posting and Reconcile Cheques Received

The system manages received cheques and post-dated cheques (CUCs). Features such as cheque reconciliation and correction of canceled cheques ensure accuracy. Integration with Journal Vouchers helps maintain reliable accounting records for post-dated transactions.

Defining and Tracking Warehouses

An unlimited number of warehouses can be created and managed in the system. Each warehouse is defined with its specific information, such as name, location, and specific settings. Furthermore, each item can be assigned to a particular warehouse or multiple warehouses, allowing for tracking available quantities in each warehouse separately.

Journal Entries

Hinawi ERP provides tools for managing general journal vouchers, including creating, editing, and importing vouchers. Users can handle prepaid expenses and recurring transactions, while features like Reverse Advance Payment and Overhead Cost Allocation ensure accurate financial tracking and management.

Reports

The accounting system in Hinawi ERP provides a comprehensive range of reports that ensure transaction accuracy and offer in-depth insights into the financial and administrative performance of companies.

These reports include Payment and Receipts Reports, covering all types of financial operations, Customer and Sales Reports, which track sales activities and manage customer relationships, in addition to Creditors and Purchases Reports that provide an overview of debts and purchase orders.

The system also offers dedicated reports for Inventory and Manufacturing Management, simplifying stock management and tracking production processes. It includes Legal and Tax Reports, such as Legal Cases Reports and VAT Reports, ensuring tax compliance.

To support financial and administrative analysis, the system provides key financial reports like the Balance Sheet, General Ledger, Trial Balance, Profit and Loss Statement, and Budget Forecasts.

Companies can customize all these reports based on their specific needs, with advanced search capabilities and the ability to export them to Excel for easy handling. The reports are available in both Arabic and English, making them a powerful tool for business management in Arabic-speaking markets.

Reminder Lists

The accounting module in Hinawi ERP includes reminders for crucial tasks such as cheque management, unpaid quotes and invoices, inventory levels, and commercial license expiration for customers and suppliers. These reminders can be sent to the company’s email to improve task management and ensure compliance.

Missing Data Information

Managing shortfalls in the financial accounting system in Hinawi ERP includes identifying accounts that require review to correct any discrepancies and tracking missing information related to debtors and creditors to ensure accuracy in account management.

It also involves identifying gaps or shortfalls in sales prices or costs to ensure compliance with accounting policies, and monitoring shortfalls or errors in the reconciliation of incoming and outgoing cheques to ensure the integrity of financial operations.

Request a Demo

The customer can view a demo of the software via Zoom or request to use the system. To schedule a software demo, the customer can complete the form using the following link. The customer Can Also visit our Office in Abu Dhabi, United Arab Emirates.

A system demonstration can be arranged by contacting the mobile or WhatsApp number +971506228024

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Accounting Concepts

Accounting Period

An accounting period is a designated time frame during which a company records and reports its financial transactions.

This period can be set monthly, quarterly, or annually, depending on the company’s preferences. At the end of each period, financial statements are generated to evaluate key aspects like profit, cash flow, and overall financial position, ensuring organized and consistent financial management.

Cash Accounting Method

Cash accounting records financial transactions only when cash is received or paid. This method is simple and provides a clear view of cash flow, making it ideal for small businesses or those seeking straightforward cash management.

However, it doesn’t reflect outstanding receivables or payables, limiting visibility into a company’s overall financial obligations.

Accrual Accounting Method

Accrual accounting records revenues and expenses when they are incurred, regardless of when cash is exchanged. This method offers a more comprehensive view of a company’s financial health, helping to track liabilities, manage budgets, and forecast future cash flows. It best suits larger businesses with complex operations and long-term financial planning needs.

Standard Features of Hinawi ERP

User Interface and Usability

Hinawi ERP offers an intuitive and easy-to-navigate user interface that caters to users of all skill levels. Customizable access permissions allow administrators to restrict specific system areas, enhancing security and workflow management.

System Integration and Scalability

The Accounting Module integrates seamlessly with other Hinawi ERP modules, such as Fixed Assets, HR, School Management, Garage Contracting, and Real Estate.

This integration boosts operational efficiency and ensures that all activities are accurately tracked and reported. The system is scalable, making it suitable for businesses of all sizes.

Installation and Configuration

Proper installation and configuration are vital for the smooth operation of the property management accounting system. Start by evaluating current practices and software to customize the Hinawi module accordingly.

Ensure that your hardware and network meet the system requirements to optimize performance and reduce downtime. Comprehensive staff training should be provided for effective system use.

Comprehensive Integration of All Modules in Hinawi ERP

All modules within Hinawi ERP are interconnected and exist within the same software, not as standalone modules. The user only needs to click on a single icon to access all the modules they have purchased.

While the level of integration varies among these modules, the core module that ties everything together is the accounting module, as all financial outputs generated by the different modules flow into the accounting module.

QuickBooks Accounting

We take pride in being among the first Pro-Advisors and licensed resellers of QuickBooks in the Middle East. Our Hinawi Software ERP was designed to fill the gaps not covered by QuickBooks, especially for businesses in Abu Dhabi, Dubai, the UAE, and the MENA region.

It offers comprehensive real estate, schools, HR, School, and fixed assets modules.

We recommend that QuickBooks users consider transitioning to Hinawi ERP. Its bilingual interface, available in Arabic and English, is user-friendly and highly customizable, making it ideal for companies in Arabic-speaking regions. QuickBooks only supports real-time posting, but Hinawi has a batch and real-time posting feature.

Access Permissions

Hinawi ERP ensures high security through its comprehensive access management system. This system allows company administrators to control and specify which information and operations users can access, which is crucial for maintaining data security and operational efficiency.

Permissions are granted based on what appears in the menus, item by item, ensuring that the main user (admin) can precisely assign permissions, making the system secure and reliable. The permissions screen covers all modules within the software, allowing permissions to be copied from one user to another, saving time.

Additionally, a feature enables viewing-only permissions without granting any modification or editing rights.

General Settings

Hinawi ERP allows full customization to comply with company policies. Users can configure general settings, define access permissions, and set legal attachments.

The system supports the easy customization of templates and input fields, along with advanced reporting and graphical analysis tools, making it suitable for businesses across the UAE and Arab countries in the Middle East and North Africa.

A system demonstration can be arranged by contacting the mobile or WhatsApp number +971506228024

Frequently Asked Questions about the Accounting Module

Is accounting very hard?
Accounting can be challenging for some, especially when dealing with complex financial rules and regulations. However, with proper study, practice, and tools, it becomes manageable and rewarding.

What does the accountant do?
An accountant manages financial records, prepares tax returns, audits, and ensures the accuracy of financial transactions. They also help businesses make informed financial decisions.

What is the meaning of accounting?
Accounting refers to the process of recording, summarizing, and analyzing financial transactions. It helps organizations track their financial health and comply with legal obligations.

Is accounting a lot of math?
Accounting involves basic math like addition, subtraction, multiplication, and division. More advanced calculations may involve percentages and ratios, but the main focus is understanding financial principles and regulations.

What is the accounting module in Hinawi ERP Software?

The accounting module in Hinawi ERP is a comprehensive system designed to document and record all financial transactions, catering to businesses of all sizes and industries.

What are the main features of the accounting module in Hinawi ERP Software?

The module offers comprehensive integration, multi-language support, custom access permissions, high data security, and technical support to ensure efficient financial management.

How does the accounting module help manage financial transactions?

It provides tools to manage payments, receipts, sales, purchases, manufacturing, and inventory, ensuring a smooth and efficient financial workflow.

How can payments be managed in the accounting module?

Payments can be handled in various forms, such as cash, cheques, bank transfers, and issued guarantee cheques.

What types of receipts can be recorded in the accounting module?

The system supports recording cash receipts, cheques, bank transfers, and credit card payments, providing flexibility in transaction management.

What is the sales cycle in the accounting module?

The sales cycle begins with customer inquiries, creating price quotes, managing contracts, issuing delivery notes, converting them into sales invoices, and handling credit memos for returned goods.

How does the accounting module handle commissions for sales reps?

The system allows for commission management, including creating, editing, approving, and tracking commissions for sales representatives, ensuring smooth commission payouts.

How is the purchase cycle managed in the accounting module?

The purchase cycle involves requesting materials, generating price quotes, issuing purchase orders, registering received items, and handling debit memos for returned goods.

How is manufacturing managed in the accounting module?

Manufacturing is managed by creating work orders, tracking the production process, and registering finished products to ensure accurate cost tracking.

How does the system manage inventory and goods movement?

The accounting module tracks incoming and outgoing goods, organizes items in warehouses, and calculates the cost of goods using the average cost method.

What types of reminders are available in the accounting module?

The system provides reminders for cheques (issued, incoming, and deferred), unpaid price quotes, low inventory levels, delivery dates, and the expiration of commercial licenses.

How can the system be customized to fit company policies?

The system offers full customization through general settings, mandatory requirements, and user access settings to ensure alignment with company-specific policies.

How does the accounting module integrate with other modules in Hinawi ERP?

It integrates with modules like fixed assets, human resources, real estate management, school management, and car garage management, providing a comprehensive solution.

How secure is the accounting data in Hinawi ERP?

The module provides advanced data security to protect sensitive information, including automatic backups and custom access permissions.

Can I try Hinawi ERP before purchasing it?

Yes, the software is available for a demo. You can schedule a Zoom demo or visit our Abu Dhabi office to experience it firsthand. A system demonstration can be arranged by contacting the mobile or WhatsApp number +971506228024

Conclusion

Hinawi ERP offers a user-friendly, fully integrated accounting system that supports modules like Fixed Assets, HR, and Real Estate. It enhances security with customizable access and improves operational efficiency through seamless integration and advanced reporting. The system is scalable and ideal for businesses in the UAE and MENA region. Its reminder features and customizable settings ensure compliance and streamline task management, making it a comprehensive business solution.

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