Accounting Module
The Accounting module in Unity ERP provides a comprehensive financial management solution integrated with other modules in the system, offering educational institutions complete control over their finances with industry-standard accounting practices.
Chart of Accounts
Flexible Account Structure
- Multi-level account hierarchy for organized financial management
- Comprehensive group and ledger accounts
- Detailed cost center tracking
Account Templates
- Ready-to-use standard chart of accounts templates
- Customizable account structure for specific needs
- Industry-specific configurations for educational institutions
Journal Entries
Transaction Recording
- Comprehensive multi-currency support
- Efficient journal entry templates
- Time-saving recurring entry automation
Approval Workflow
- Secure multi-level authorization
- Configurable role-based approval routing
- Detailed audit trails and history
Financial Statements
Standard Reports
- Professional Balance Sheet generation
- Comprehensive Profit and Loss statements
- Detailed Cash Flow analysis
Customizable Reporting
- Flexible dimension-based filtering
- Insightful comparative period analysis
- Powerful custom report builder
Accounts Receivable & Payable
Customer/Vendor Management
- Comprehensive credit limit management
- Flexible payment terms definition
- Detailed audit trails and history
Payment Processing
- Efficient payment entry automation
- Streamlined bank reconciliation
- Support for multi-mode payment options
Tax Management
Tax Configuration
- Support for multiple tax regime requirements
- Detailed tax component definition
- Comprehensive tax group management
Tax Reporting
- Detailed tax summary reports
- Helpful tax return preparation aids
- Comprehensive period-based tax analysis
Period Closing
Fiscal Year Management
- Flexible period definition and control
- Automated closing book entries
- Secure period reopening protocols
Year-End Processing
- Streamlined automated closing entries
- Configurable profit distribution
- Accurate opening balance generation
Financial Year
- Flexible financial year configuration
- Comprehensive fiscal calendar management
- Secure period locking controls
Petty Cash Management
Cash Transaction Tracking
- Detailed petty cash entry
- Organized expense categorization
- Efficient reimbursement processing
Cash Analysis
- Insightful expense pattern identification
- Comprehensive budget adherence monitoring
- Strategic cash flow optimization
Benefits for Educational Institutions
- Comprehensive financial management aligned with accounting standards
- Seamless integration with all other Unity modules
- Enhanced financial visibility through detailed reporting
- Streamlined period-end closing processes
- Improved compliance with tax regulations
- Efficient cash flow management and forecasting