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Cash Management , Financial Accounting

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Cash Management

MicroFinS offers full workflow for Teller operations and Vault Management. The country specific currency and denominations are fully configurable in MicroFinS. The banking transaction day opens with issue of denominations to the teller / cashier by the Head Cashier. All the payments vouchers and cash receipts are linked with the teller / cashier operations. The payment / receipt transaction cycle is completed only after recording of denominations issued / received by the teller thus ensuring correct records of the denominations which exists with the teller / cashier counter and the vault. The day end is processed only after return of the cash denominations to the vault and after tally of cash-in-hand account closing balance with the value of cash denominations which exists in the vault at the end of the day.

Deposits with Other Banks

The functionality automates following functionality at the society:

Call deposits, term deposits maintained by the society / bank with other banks.
Investments into Treasury Bills
Investments into Government Securities

This functionality is fully integrated in Financial Accounting for all the interest receipts, deposits into account and withdrawals from these investment accounts.

Financial Accounting

All above mentioned products management sub-systems, front office / back office management etc are fully integrated with Financial Account sub-system of MicroFinS. The software creates journal entries in real time, to the accounts you have specified while in respective account set-up information and product set-up. The users can choose exactly check when these entries are posted to the general ledger and run trial balances as required.

The Financial Accounting sub-system is an online, real time general ledger and financial reporting system. It also maintain accounts payable and accounts receivable for the customer accounts. The Financial Accounting functionality is parameterized and can be set-up by the administrator. It also has integrated Day Begin Process, End of Day Process, closing periods, year-ends, and more.