Corporate Daily Expenses Account on Bank and Treasury Accounts Program

Published By Omar Safwat
Date of publication 2020 January 13


كيفية حساب المصروفات اليومية للشركات وتطبيقتها على برنامج حسابات الخزينة والبنوك

The daily expenses of companies represent most of their financial transactions, not a day is free of tens but hundreds of daily transactions related to the expenses, whether these expenses are (cash- check) and whether the payment is on (petty cash- accounts payable- creditors- salaries- operating costs- general and administrative expenses- bank expenses- etc.) and because the transaction of the daily expenses of companies is extremely important, it was necessary to use the modern technology in the cash management for companies because the manual system (financial records and books) that are not commensurate with the size of modern technology and the progress achieved in all areas in the case of more a branch of the company the headquarters accountant did not know whether the dues of a specific supplier were paid or not, then it might have been paid from the branch’s treasury as well as the wages and salaries if the headquarters accountant wanted to know whether a specific employee’s salary had to be paid, must review the branch before the employee’s salary was paid, and so on all expenses, and therefore, no expenses can be approved before doing matching between the headquarters and the branches to ensure that the expenses are not repeated so that they do not become a disaster that leads to the aggravation of corporate losses, in light of this paper-based system that depends on paper matching, which is very slow, inaccurate, and unreliable because it is subject to human errors, as it lacks the financial and accounting security factors of the accuracy of the financial information and the ability of expenses to be repeated or wrong, it was necessary to use accounting software specialized in the treasury management and bank management.

Treasury & Banking Software

With all these problems caused by the use of the "paper-based" manual system in managing the daily expenses accounts of companies, it was necessary to use Treasury & Banking Software through which the company can overcome all these problems, Treasury & Banking Software has many other advantages that can be mentioned as follows:

1- Linking all the company’s branches to each other as well as to the headquarters

Which facilitates the possibility of exchanging the financial information and reports instantaneously and easily, for any branch can display the petty cash balance of an employee or the balance of a supplier and whether the due has been paid or not, and also the headquarters can display the balances of the branches' treasures and other reports that facilitate the workflow and reduce the chances of occurrence accounting errors.

2- The impossibility of repeating the dues payment

Previously, and by relying on the paper-based system, the supplier could get the invoice value a time from the branch and again from the headquarters because the time gap between the financial documents arriving at the branches and reviewing them in the headquarters is very large and loss of documents or tampering with them may occur, but through Treasury & Banking Software which provides you the advantage of determining the invoice, payment source, so you select the invoice and pay it, whether it is a full or partial payment, which makes it impossible to repeat the payment.

3- Workflow does not stop

Treasury & Banking Software enables the headquarters to know the treasury balance in the branches, if the treasury balance reaches the reorder point, the headquarters finances the branches with the cash needed to run the business and in this way it is impossible to stop the workflow that due to the fiscal deficit, and this also contributes to planning the cash for companies through knowing the financial needs and the ability to create the budgets at the branch level as well as at the company level as a whole.

4- The accuracy of the bank accounts management

Treasury & Banking Software enables you to display the bank balance as well as the notes payable and notes receivable with ease and you can get these reports in a timely and highly accurate manner in addition to the impossibility of an error due to lack of the human error in the serial number of the checks and thus increases the degree of accuracy and credibility in the bank account management reports, in contrast to the paper-based system that may be subject to omission or error as a result of not recording the number of the note receivable or note payable or recording it incorrectly.

5- The accuracy of the treasury balance

Treasury & Banking Software does not post the cash transactions (the treasury) unless the two sides of the journal entry are equal, as it is impossible to post the cash transaction without a document number and therefore it is impossible to manipulate the existence of the fake transactions or even repeat the process, whether it is expenses or revenues, as Treasury & Banking Software is characterized by the balance is posted automatically, which increases the degree of the credibility of the balance.

6- Ease of the petty cash management 

In the petty cash, of course, it is characterized by a large number of transactions on it, whether the petty cash is temporary or permanent, and Treasury & Banking Software makes monitoring the petty cash more accurate and easier, once displaying the employee name responsible for the petty cash, the petty cash balance and the amounts got by the employee can be known as the petty cash, whether from the treasury or bank or transfer and by the receipt number and date and know whether these amounts have been settled or not and other financial information and reports, making the petty cash management easier and more accurate.

7- Control accounts receivable and accounts payable

Treasury & Banking Software displays for each supplier the balance and the invoice due to him, as well as the customer’s balance and amounts due by him, and links them to the cash accounts (treasury- bank- notes receivable- notes payable) for the tightness of control whether a note payable written to the supplier, and shows you whether it was deducted from the bank or outstanding, and the relationship of the note payable to the invoice number due to the supplier, either of customers the note receivable has a relationship with any customer and what are the dues "invoices/payment certificates", which makes the accounts receivable and accounts payable management, control and review them faster and more accurately, can be displayed any balance of the suppliers or customers instantaneously.

The existence of Treasury & Banking Software transforms the company from the randomness and lack of accuracy and credibility into an organized and accurate company and this has a great role in achieving the goals of companies of the continuity and expansion in the work environment, and the following we will view an example of the Best Arabic Accounting Software for banking, cash management, and treasury management which became well-known in more than one country in the Arab world because of its advantages, which are accounting software that are not available in its counterpart from Treasury & Banking Software.

Learn about Treasury & Banking Software 

It is the best treasury and bank management software provided by AccFlex ERP System (Hadaf Software Solutions)

To manage the treasury and bank, because the basis for the success of any software for managing treasury and bank is basically the extent to which this software covers the practical cases of companies that the companies need to the cash management in them, if you bought Treasury & Banking Software and you encounter one of the problems related to the cash management solutions, it was very difficult and costly to re-customize new screens to the accounting software to solve the problem for your company, mainly due to the lack of sufficient experience in the programming company to give software solutions to the cash management problems, but the more the customer base of the company increases, the more practical cases that the company undertakes to solve problems the cash management with the customers, and so forth if the thousands of the largest companies in different parts of the Arab world are customers of Treasury & Banking Software.

Therefore, it gives you all the software solutions for the cash management your company and you can't face a problem for this in addition to having a solution in Treasury & Banking Software

The remarkable reports it provides, which enable all reports users to display the cash management, as it displays the reports in the form of illustrative graphics that facilitate understanding the financial information and reports, and also allows displaying the financial reports in all of its known forms and images.

Treasury & Banking Software Features

The following: You can view the most important features of Treasury & Banking Accounting Software  

1-Securities reminder feature (notes receivable and notes payable)

Once you open AccFlex ERP Accounting Software, you will learn about the most important features of Treasury & Banking Software

The software automatically displays the notes receivable and notes payable, and this feature may be available only in Treasury & Banking Software, through this feature, we can collect in the expensive international software such as Oracle – SAP

To collect the notes receivable on-time and facilitate the cash management by providing the necessary liquidity to suppliers/creditors when the notes payable are due, in addition to the ease of doing bank reconciliation.

2- The ability to design the checks

One of the most important features of Treasury & Banking Software

You do not need to separate the software from the actual check transaction you can design the check on the system and add check serial numbers as in the checkbook, through the software you can print the check directly, which increases the accuracy and error by repeating a check number or typing an error check number – or a beneficiary name who is not defined by the system.

3- The remarkable customization of the treasury accounts

One of the most important features of Treasury & Banking Software

The presence of a screen for the most important treasury accounts, in the treasury of two sides, either receipts or payments, in addition to the feature of separating petty cash account for tightness their management and control in its screen, thus facilitating the function of entry, control, and display the reports from these screens.

4- Linking between the payment and maturity

One of the most important features of Treasury & Banking Software

It is the link between the payment and maturity when you pay a supplier invoice that you do not pay only on the accounts payable, but there is a part of the screen below that shows you the invoices due to the supplier who you pay its dues, and you select the invoice that you want to pay in a full or partial and once you pay the invoice, it is not displayed again and this increases the degree of efficiency and credibility of the cash management in the companies and makes the possibility of manipulation or omission or error impossible to occur, and the same for customers, so you select the invoice or the payment certificate paid by the customer, which makes the accounts receivable the most accurate, so on for all accounts.

5- Flexibility in tax calculation

One of the most important features of Treasury & Banking Software

It is the flexibility to add the withholding tax during payment, it can be added in each transaction separately, due to the variety of the withholding tax rates, and sometimes it is 0.5% and sometimes 1%, this feature makes calculating the taxes as accurately as possible.

6- Importing from a Microsoft Excel File

One of the most important features of Treasury & Banking Software

It is the ability to import the financial transactions as a "treasury journal" from an Excel file, just we select the fields that we need to import into the software and import them from Excel with ease, which saves more time and effort in the re-entry.

7- The remarkable customization of the bank accounts

One of the most important features of Treasury& Banking Software

It is the remarkable customization of all the cash transactions for the bank, there is a screen for the notes payable and a screen for the notes receivable, as well as a screen for the bank transfers and a screen for the letters of guarantee, which increases the degree of accuracy in the input and makes it impossible to occur an error or repetition of the entry process and thus increases the degree of credibility in the reports provided by the accounting software.

8- More realistic monitoring of the notes receivable and notes payable

One of the most important features of Treasury & Banking Software

It is that it monitors the status of the notes receivable and notes payable properly so the matter does not end up as soon as the note receivable or the note payable is written, but it is monitoring the status of the check, is it been collected- canceled, received, and under-collection/settlement, etc. of the status related to the notes payable and notes receivable, which are given more reports realistic about the notes payable and notes receivable, and perhaps we do not find this feature available in most of the treasury and bank management software in the Arab world.

Learn about Features of Best Accounting Software for Small & Medium-Sized Businesses

9- Tightening control over the money transfer operations

One of the most important features of Treasury & Banking Software

The presence of a specialized screen for the money transfer operations, whether it is to receiving money or transferring money, with all details, currencies, transfer transactions and transfer expenses, which makes the accuracy of the company's cash management accounts as accurately as possible perhaps in many software we do not find such screens as accuracy and details necessary for the accuracy of company cash operations.

10- Electronic Payment Voucher

One of the most important features of Treasury & Banking Software

The presence of a specialized screen for the electronic payment voucher where the paper-based requests that are boring and slow and characterized by a boring government routine which is wasted time and effort within companies, but with the presence of such forms that facilitate to any employee of the company to submit a payment voucher as well as the presence of authorizations for specialized employees to approval to the payment voucher it has become an easy and simple matter, and more time and effort is being saved to work, not to waste time on useless administrative works.

11-Comprehensiveness and remarkableness of displaying reports

One of the most important features of Treasury & Banking Software

The reports for each line item of the company's cash management, some reports include all treasury accounts, reports of all bank accounts, notes receivable and notes payable, petty cash reports, and reports of letters of guarantee, etc., covering all the reports that you may need and more, you can search (by an account number- account name- date- invoice number- document number- description- journal entry number- check number- receipt number- etc.) in addition to the remarkableness of displaying the reports that facilitate the understanding of the financial information for the specialists and non-specialists, and perhaps the reports of Treasury & Banking Software is one of its most important strengths, as no transaction is done without being covered by its cash reports.

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