Accounts, Finance and Audit

TERMS Cloud Hosted Solution

TERMS Locally Hosted Solution

Accounts, Finance and Audit

TERMS Cloud Hosted Solution
TERMS Locally Hosted Solution

The accounting system within TERMS is transactional and based around a Two-tier structure to match Cost Centre/Nominal, In-Code/Out-Code, or Subjective/Objective code style accounts structures used by external accounting systems such as SAP or ORACLE. Transactions can be reconciled with an external accounting system (may require a small amount of development for a specific system). Multiple Tills can be defined with each having its own list of allowed payment methods and these can be independently reconciled for audit and banking. The payment methods can be linked to external web payment systems.

For staff, pay processing and contracting, with pay run history, can be used with recorded attendance from the day-to-day course administration used to inform the amounts that individual staff are entitled. The  attendance with the administration side is locked once a pay run has been processed.

Petty cash can also be tracked along with Sales, Purchase and Nominal Ledgers as would be expected. Sales Invoices and Orders, and Purchase Orders and Invoicing can also be tracked, with full authorisations. Full Journaling is included and the module will handle part-payments, refunds, purchase and credits, VAT Control, etc.

A complete financial Accounts package that will allow you to fully control and report upon all of your financial transactions. You can either use this as your prime accounting package or as a feeder to, or verification of, for your main accounts.

Financial Control Diagram

A complete audit trail is created with for all financial transactions with printable receipts produced for all processed payments. Receipts do not have to be printed immediately but can optionally be saved for batch printing later. An internal security log is also recorded showing dates and times that users processed payments. The log can be searched and reported on.

Reporting and analysis are also included to track overall and trial balances, debt progression, income summaries, Nominal and Cost Centre analysis, etc.

Audit Tracking Diagram