Accounts Payable
Account payable sub module incorporated with activities related to payments made by the university. Module can be customized to follow different procedures for different category types, and module stream line the authorization process as well, which will cut down turnaround time in a purchasing process and cut down the paperwork expenses.
Account payable Sub module includes,
- Automated Item acquisition process
- Manage supplier information and supplier item list
- Automated procurement management
- Amanaging item purchases and return process
- Stock transfer process
V-Finance can help your university to,
- Stream line the procumbent and purchasing process
- In built internal audit function to get a bird’s eye view of the product
- Maintaining different level of authentication
Account Receivable
Account payable sub module incorporated with activities related to payments received by the university. University receives payments in main three methods including cash, bank drafts and payment gateway, and student payments will categorize student wise and department wise. Module will incorporated with other UMS modules through UMS finance module to notify students and relevant departments.
Module includes,
- Handling advance payments in registration process
- Updating relevant sub module departments
- Trigger relevant modules on due payments
- Set off payments against the students
Inventory Management
Module deals with the procurement activities which include request generation, approval, Purchase Order creation, receiving goods and allocation
Fixed Assets Management
General Ledger functions
