GPAC Accounting
GPAC Accounting is the systematic process of tracking income, expenses, assets, and liabilities, while providing insights into financial health and performance through the generation of financial statements. Additionally, it serves as a critical tool for maintaining transparency and building trust with stakeholders, making it essential for both individuals and organizations.
Chart of Accounts Management
GPAC Accounting offers a highly configurable Chart of Accounts that allows businesses to easily manage and organize their accounts in a way that suits their specific needs. This includes:
Account Grouping: Classify accounts by broad categories such as Asset, Liabilities, Income, Expenditure, and Equity.
Account Sub-Group: Further categorize accounts for more detailed financial tracking.
Account Ledger: Maintain detailed ledgers for each account to track all transactions.
Opening Balance Management
The software supports easy entry and management of Opening Balances:
Voucher-based Entries:
Record opening balances via vouchers such as OB (Opening Balance) Vouchers.
Date and Amount Specific:
Enter opening balances as per a specific date, ensuring accuracy from the first day of your accounting period.
Account Ledger:
Maintain detailed ledgers for each account to track all transactions.
Approval Workflows
GPAC Accounting incorporates robust approval workflows to maintain control and ensure compliance for critical financial transactions.
Purchase Invoice Approval: Review and approve purchase invoices before processing payments, ensuring accuracy and accountability.
Sales Invoice Approval: Approve sales invoices prior to finalization, maintaining proper oversight in the sales process.
Disposal Approval: Secure approvals for asset disposals to prevent unauthorized or unapproved transactions.
Bank Reconciliation
GPAC Accounting simplifies bank reconciliation, helping you match your bank statements with your accounts to ensure your financial records are always accurate and up-to-date.
Automated Reconciliation: Enjoy seamless bank reconciliation with automated features that match transactions efficiently and accurately.
Multiple Bank Support: Integrate multiple bank accounts for real-time reconciliation, streamlining your financial management across different institutions.
Financial Reports
GPAC Accounting includes a wide range of reporting options, providing businesses with insightful financial data.
General Ledger: Access comprehensive records of all financial transactions.
Day Book: Track daily business transactions in one centralized location.
Trial Balance: Ensure balance in your books by quickly generating trial balance reports.
Balance Sheet & Income Statement: Access financial statements that help evaluate the business’s financial health.
Cash Flow Reports: Get real-time updates on cash inflows and outflows.
Why Choose GPAC Accounting Software for Your Business?
Multi-Currency Support: Handles global transactions in multiple currencies.
Audit Trail: Ensures compliance and transparency by tracking all user actions.
User Roles & Permissions: Secure, role-based access control for efficient workflow.
Scalability: Adapts to businesses of all sizes, from startups to enterprises.
Customizable: Flexible configuration and custom reporting to fit unique needs.
User-Friendly Interface: Intuitive design reduces training time and boosts productivity.
Security & Compliance: Meets global accounting standards with strong data protection.
Real-Time Insights: Access dashboards and reports for informed decision-making.
Schedule a live hands-on demonstration with GPAC software to see how our solutions can help run your business.
Automated Bill Notification
GPAC Accounting Software features an Automated Bill Notification system that sends personalized billing details directly from the customer's Receivable Accounts Ledger to their email. This feature uses customizable XML templates for emails, including greetings and detailed account information like ledger statements. Attachments such as PDFs can also be included, enhancing clarity and customer engagement by delivering timely and precise billing communications.
Accounts Dashboard
The Accounts Dashboard provides a visually appealing and highly informative view of your business’s financial health:
Year Overview: Get a snapshot of financial performance for the current and previous year.
Income and Expenditure: View the overall income and expenditure of the business in an easy-to-understand format.
Cash Position: Assess the available cash in the business to ensure liquidity.
Assets vs Liabilities: Compare assets to liabilities, ensuring a balanced financial position.
Payables vs Receivables: Track amounts due to and from the business, ensuring timely payments and collections.
Bank Position: View the cash position in bank accounts to manage funds effectively.