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
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.
Frequently Asked Questions about the Accounting Module
Accounting can be challenging for some, especially when dealing with complexfinancial rules and regulations. However, with proper study, practice, and tools, it becomes manageable and rewarding.
An accountant manages financial records, prepares tax returns, audits, and ensures the accuracy of financial transactions. They also help businesses make informed financial decisions.
Accounting refers to the process of recording, summarizing, and analyzing financial transactions. It helps organizations track their financial health and comply with legal obligations
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.
The acounting module in Hinawi ERP is a comprehensive system designed to document and record all financial transactions, catering to businesses of all sizes and industries.
The module offers comprehensive integration, multi-language support, custom access permissions, high data security, and technical support to ensure efficient financial management.
It provides tools to manage payments, receipts, sales, purchases, manufacturing, and inventory, ensuring a smooth and efficient financial workflow.
Payments can be handled in various forms, such as cash, cheques, bank transfers, and issued guarantee cheques.
he system supports recording cash receipts, cheques, bank transfers, and credit card payments, providing flexibility in transaction management.
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.
The system allows for commission management, including creating, editing, approving, and tracking commissions for sales representatives, ensuring smooth commission payouts.
The purchase cycle involves requesting materials, generating price quotes, issuing purchase orders, registering received items, and handling debit memos for returned goods.
Manufacturing is managed by creating work orders, tracking the production process, and registering finished products to ensure accurate cost tracking.
The accounting module tracks incoming and outgoing goods, organizes items in warehouses, and calculates the cost of goods using the average cost method.
The system provides reminders for cheques (issued, incoming, and deferred), unpaid price quotes, low inventory levels, delivery dates, and the expiration of commercial licenses.
The system offers full customization through general settings, mandatory requirements, and user access settings to ensure alignment with company-specific policies.
It integrates with modules like fixed assets, human resources, real estate management, school management, and car garage management, providing a comprehensive solution.
The module provides advanced data security to protect sensitive information, including automatic backups and custom access permissions.
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