clarity on gxt-finance
GXT Finance software is an application software that records and process accounting transactions within functional modules such as Accounts Payable, Accounts Receivable, Journal, General Ledger, Payroll, Trial Balance and Periodic Financial Statement all under IFRS compliance. It functions as an Accounting Information System..
A consultant can create a login where h/she then sells the software locally and helps clients to manage their financial reports.
The consultant can carryout outsourced accounting services for all his/her clients.
UNDERSTANDING HOW PROPER FINANCIAL MANAGEMENT TRANSLATE TO BUSINESS SUCCESS
Financial management is at the heart of running a successful business. It affects every aspect, from managing cash flow and tracking business performance to developing plans that ensure that business owners can make the most of opportunities.
As a business owner or manager, you need to recognize the importance of financial management. You may be able to delegate some of the tasks involved – to employees or outside experts, but you yourself need to be always looking ahead, ensuring that your business continues to develop the financial capabilities it will need to achieve its full potential.
In doing this, you need a proper system designed to recognize your business activities; your inflow and outflow of funds, for proper report and documentation of the WHYs and HOWs in your business operation. And what better user friendly and easy-to-navigate is best to do that than GxtFinance? Well, let’s not conclude too fast. Instead let’s look at the….
qualities of a system for proper management decision making
In determining the financial state of your business, you’d need certain financial information, to enable you know the inflow & outflow pattern affecting your business capital. In gathering these information, here are the elemental parts to properly feed you those information.
GXTFINANCE HAS ALL OF THIS
Sales & inventory management
The sales practically takes record of your income (turnover). In the process of selling, your inventory partners in that function, as you can only sell what you can provide. The balance of your inventory is affected by sales.
You’d want to have a look at this when you think about profit (Sales against cost of sale), and when next you need to purchase more goods.
Here’s where the expenditure outflows are captured. When you are running a business, it is impossible not to spend (doesn’t have to be daily).
That’s why this report is important. You should be able to know how much you expended and what you expended it on.
ASSET SCEDULE / MANAGEMENT
You’re assets help the business activities, if they didn’t,
I don’t think there would be need for them. Assets are in different forms. It could be land, building, a generator, your office furniture, and many others.
You have to keep an eye on this things. You should know the value/depletion state of each asset, no matter how many.
The task can be a bit lumpsum, having to do that every month, or year, depending on your report.
Why not let the software do that for you, save you time for other things?
INCOME STATEMENT & FINANCIAL POSITION STATEMENT
This system has an automated program that builds your income statement & Financial position in real time. You can, from anywhere in the world, access your income and expenditure movement, your total asset at a glance. SPOT ON!
The payroll management system generates the payroll schedule for you salary pay-out at the end of the month. It includes Basic salary, other allowances, PAYE, Pension, Cooperate contribution and other features.
RECEIVABLE / PAYABLE
Your general ledger are built real-time.
At any position on the map of anywhere, you should be able to manage your business. And for that to efficiently happen, we have made this system real-time.
You can always have a view of how your staff are running the business in your absence, and make decisions based on those reports.