GPAC Accounting Inventory -Basic Edition
GPAC Accounting Inventory efficiently tracks stock, purchases, sales and point of sale while integrating with financial accounting. It ensures accurate inventory valuation and cost management. The system helps maintain optimal stock levels, reducing shortages and overstocking. Real-time data enhances decision-making and financial transparency.
Basic Edition Features
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.
Flexible Voucher System
GPAC Accounting provides a robust system for managing all types of vouchers, essential for recording financial transactions.
Receipt Voucher:Record incoming payments efficiently.
Payment Voucher: Track and manage outgoing payments.
Journal Voucher:Ensure accurate adjustments and internal transfers.
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.
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.
Purchase Invoice
A purchase invoice is issued by a vendor to a buyer, detailing the products provided, prices, and the total amount even due. It is often matched with the purchase order and receipt for accuracy before payment. Purchases can be made directly from a purchase invoice, bypassing the requisition process.
Invoice Creation: Generate invoices based on purchase orders.
Stock & Warehouse Tracking: Track inventory and warehouse status.
Automated VAT Calculations: Calculate VAT automatically.
Sales Invoice
With GPAC, invoicing is made easy and accurate:
Automated Invoicing:
Generate sales invoices from sales orders or delivery orders with automated calculations for VAT and discounts.
Customizable Fields:
Add comments, employee names, and other fields to customize your invoices.
Tracking & Reporting:
View sales invoices in real-time and generate detailed reports for financial planning.
Item Categorization & Grouping
GPAC software allows you to organize your inventory into Item Categories, Item Groups, and Item Subgroups, making it easier to manage and track stock across various classifications. This structured system helps with quick identification, better reporting, and efficient stock management.
Item Category: Define broad product categories to group similar items for better visibility.
Item Group & Subgroup: Break down categories into specific groups and subgroups for even more precise tracking.
Opening Stock and Adjustments
Upon implementation or at the beginning of each financial year, easily manage Opening Stock. The system allows for seamless entry of stock data, including Voucher Numbers, Warehouse Names, Batch Numbers, Rates, and Quantities.
Real-Time Stock Updates: Ensure that the system reflects real-time stock levels across all warehouses.
Stock Adjustments: Make quick adjustments to stock levels when discrepancies occur, ensuring accurate data at all times.
Stock Transfer
GPAC Stock module allows you to track Stock Transfers between warehouses, departments, or locations with ease. Whether you are transferring stock due to demand shifts or seasonal changes, the software helps you track quantities, rates, and destinations efficiently.
Track Stock Transfers: Ensure complete visibility of stock movement between locations.
Batch Number Tracking: Track the movement of goods based on their Batch Numbers for better quality control.
Stock Damage
In any inventory system, damage is inevitable. Track Stock Damage, providing insights into which items are affected, the quantity, and the reasons behind the damage.
Damage Tracking: Capture essential details on damaged items and their monetary value.
Accountability: Track damaged goods by employees or departments to ensure accountability.
Point of Sale
GPAC POS is a powerful, user-friendly system designed to streamline sales, inventory, and financial management for businesses of all sizes.
Fast & Easy Sales Processing:Complete transactions quickly with barcode scanning and multiple payment options.
Seamless Payment Integration: Accept cash, cards, mobile wallets, and digital payments.
Flexible Discounts: Apply percentage-based or fixed amount discounts on products or total bills.
Inclusive & Exclusive VAT: Configure VAT to be included in the price or added separately..
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.