Financial Accounting Software

Xpedeon's Financial Accounting solutions include all the core elements that construction companies require to control their finance and accounts department - making it the most effective accounting software for contractors and real estate companies.

The Chart Of Accounts allows users to build a hierarchical accounting structure of multiple levels, as per the company’s accounting needs. Accounts can be created directly in the nominal ledger; or control accounts can be linked to user-defined subsidiary ledgers.

Xpedeon extends the capabilities of the traditional Nominal Ledger to ensure that branch and project wise accounting is maintained. Various Subsidiary Ledgers are provided such as: Accounts Receivable, Accounts Payable, Bank, Cash, Asset, Tax, Cost, Income, Retention, Advances, Stock, Employees, etc. Additionally, users can create customised subsidiary ledgers and accounts as required. Xpedeon automates the process of posting from all subsidiary ledgers to the nominal ledger, thus eliminating the need for manual reconciliation.

Xpedeon's features automate time-consuming bookkeeping tasks, thereby reducing manual intervention, decreasing processing time, and lowering administrative overheads. These include:

  • automated booking of transactions,
  • specialised ledgers for inter-company, inter-branch, and inter-project accounting,
  • reusable templates for rapid generation of frequently used journal vouchers,
  • recurring journals,
  • journal reversals,
  • automated creation of period-end accrual entries (and their reversal in the next period),
  • multi-level book closure and
  • automatic roll forward of balances to the next financial year, etc.

The powerful Bank & Cash management system is an effective and robust solution which gives you control over your day-to-day bank and cash related activities such as managing multiple bank and cash accounts in different currencies, handling various types of transactions such as cheques and electronic transfers, recording payments and receipts, and reconciling accounting and bank records efficiently. The system provides you with a clear view of the total inflow and outflow of cash in your organisation. You can see which payments and/or receipts impact your cash and bank position at any point, helping you in taking decisions for optimum utilisation of your money.

Through the user-friendly screens in the Accounts Payable module, AP staff can track complete details for payables - how much, when, to whom, and the project for which a bill has to be paid. Organise payables by due date, project, supplier, item categories, and so on. The AP module aids users to:

  • Gain greater insight with a comprehensive analysis of past, current, and future expenditures.
  • Eliminate redundant and tedious tasks with features such as automated scheduling of bills, pre-defined electronic approval workflows, and system alerts for early settlement discounts.
  • Build better relationships with suppliers and negotiate better terms and contracts. Users can answer queries promptly with complete details and accuracy. Access to all supplier-related information is available at a single click – from advances paid and orders placed to deliveries due and invoices pending payment.
  • Monitor current disbursements and plan accurately for future cash requirements.

The Accounts Receivable module goes beyond recording invoices and receiving payments - it helps you to provide a superior level of service and support to clients. Users can easily organise and analyse dues by project, client, due date, invoice type, etc., giving you control over your cash inflows. The system handles contract based applications and certificates for payment, invoices for plant hired out to customers as well as standalone invoices. It also addresses real estate accounting software requirements such as interest calculation.

Keeping in mind the evolving regulatory compliances that companies need to adhere to, the system offers a suite of advanced financial reporting capabilities which give you the ability to generate reports at any level of the corporate structure. A host of standard reports such as Trial Balance, Profit and Loss, Balance Sheet, Cash Flow, Profit Reconciliation are present in the system. Numerous user-configurable financial statements and schedules can be generated in local and foreign currencies; thus making reliable and accurate information available to you at the click of a button.

Xpedeon's project-accounting features combined with its rich and intuitive interface qualify it as the best construction accounting software.

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