Wednesday, December 21, 2016

Why Pay for Quickbooks?

FrontAccounting is an open source accounting and business management software, which may be successfully replacing QuickBooks Pro ($249.95 or $12.95 per month), or, for example, Sage Peachtree Complete Accounting ($379.99 and up) for small and medium sized businesses.

FrontAccounting includes both accounting and basic ERP planning that are suitable for small businesses. It supports multiple languages and currencies, as well as multiple businesses. Operating System: OS Independent


Basic features

Sales and Accounts Receivables
ü  Open Customer Accounts and Customer Branches
ü  Make Sales Areas, Sales Types, Sales Groups, Salesman Groups
ü  Make Sales Groups for grouping Customer Branches
ü  Prepare Sales Quotations (with inquiry and creating of Sales Orders)
ü  Prepare Sales Orders and Goods Delivery Notes
ü  Prepare Customer Invoices and Credit Notes
ü  Make Batch Invoicing for more than one delivery order.
ü  All of the Sales documents are completely editable and printable
ü  Point of sales definitions for better handling of cash sales
ü  Customer Payments and Allocations
ü  Company logos can be attached to sales documents
ü  Dimensions can be selected for Sales Delivery and Invoices
ü  Shipping Costs and Legal Text can be added to Invoices

Purchase and Accounts Payable
ü  Open Supplier accounts
ü  Make Purchase Orders, Goods Receival Notes and Payment Terms
ü  Clearing of Goods Receival Notes
ü  Entry of Supplier price lists & related conversion factor into purchase prices
ü  Prepare Debit Notes and record Credit Notes from Suppliers
ü  Supplier Payments and Allocations
ü  Company logos can be attached on documents
ü  Option of attaching scanned documents with transactions

Inventory and Stocks
ü  Record Stock Items
ü  Define Item Categories and Item Locations
ü  Record location transfers and other adjustments
ü  Set re-order levels for Inventory Items
ü  Automatic calculation of average material cost (per unit)
ü  Application of standard and overhead costs, into material prices
ü  Quantity of Items can be measured into standard units
ü  Foreign codes registration for barcode scanner entry

ü  Prepare bills of materials, Work Center inquiries and Work Order entries
ü  Feasibility of adding advanced production and simple assembling features

Cash and Bank
ü  Open Bank and Petty Cash Accounts
ü  Record payments, deposit and withdrawals in related accounts
ü  Various currencies can be added and foreign currency translation is also done
ü  Record bank enquiries and reports
ü  Prepare bank accounts reconciliation
ü  Transactions can be made void and reprinted

General ledger
ü  Open general ledger accounts, account classes and groups
ü  Record journal entries and budget entries
ü  Generate ledger accounts detailed enquiries with drill down reports
ü  Make journal enquiries with an option to view journal entries
ü  Closes the fiscal year and brings forward retained earnings
ü  Record depreciation entries on period based
ü  Make journal entries with corresponding entry in supplier / customer account
ü  Filter General Ledger reports by dimensions
ü  Quick entries (preset GL transactions) in bank deposit/payment, journal entry and supplier invoice/credit
ü  Ability to enter a back dated transaction.

ü  Print, Email and Convert into PDF; all the reports
ü  Export the reports in MS Excel/Open Office Calc format
ü  Generate reports on periodic and financial years basis
ü  Email documents directly to customers
ü  Make graphical analysis (Horizontal/Vertical Bars, Dot Lines, Pies and Donuts)
ü  Tag and save report selections

Access levels and adaptation
ü  Different companies can be set-up simultaneously
ü  Separate financial years can be created and closed against entries
ü  Multi user access with different privileges
ü  Make backups and restore for companies
ü  Date Picker with week numbers for all date fields
ü  Simple Audit Trails
ü  Extensions for customizing menu tabs and applications

Advanced Features

Multi-Currency Support
ü  Historical Currency Rates
ü  Multi-Currency Bank Accounts, Customers And Suppliers
ü  Multi-Currency needs improvement at transaction level - For every sales transaction currency is stored in related customer data. To change this you will have to add currency in sales transaction (sales_order/debtor_trans record) and use customer setting only as default for new transaction. Beside this you will have to extend upgrade routines and standard sql database script en_US-demo/en_US-new. All the work should not take more than a couple of hours (plus tests). The same have to be done probably on purchase side.

Advanced GST/VAT handling
ü  GST/VAT can be selected on Customer, Supplier and Item basis
ü  Advanced GST/VAT report for details and outputs/inputs

Language and Calendar Support
ü  Full support for localization by the GNU's gettext package
ü  Multi language support with right to left support in Arabic language
ü  Different chart of accounts can be installed and activated
ü  Jalali and Islamic calendars are supported

Other Details
ü  Every document can be emailed and printed simultaneously
ü  PDF can be formatted for every document
ü  Projects, Cost Centers, Departments can be added, using Dimensions

Installation Pre-requisites

ü  A working HTTP web server eg. Apache, IIS.
ü  PHP installed on the web server.
ü  A working MySQL server - with innodb tables enabled (see notes below)
ü  Adobe Acrobat Reader - or another PDF reader for viewing the PDF reports before printing them out.

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