KARAT | Information system KARAT | Modules description | Accounting
Accounting
Accrual basis accounting is conceived as a modern tool for transparent, complex and correctly-handled business accounting in accordance with legal legislative amendment of accounting methods and any planned amendments based on international accounting standards and generally utilized accounting rules.
The Accounting module provides the ability to set the whole system or its parts to so-called ONLINE accounting, when on the basis of the primary document states defined in the circulation it is possible to generate accounting entries to ledgers with a previously defined accounting method while performing primary entries, adjustments in the current period and following periods, their reversals, account balancing and other user-defined transactions.
The Accounting module is integrated with features, methods and tools for performing:
- financial accounting
- intra-company and management accounting
- multiple ledger accounting
- independence from the fiscal period with primary modules and agendas
- parallel processing in optional fiscal and monthly accounting periods along with common non-fiscal maintenance and repeatable start state transfer via accounting crosswalks to secure balance continuity
- final calculations with features for accounting work-in-process or performance, applying burden using distributions and other automatic operations which generate new accounting records
- natural indicator accounting
- recording tax facts in the background of accounting records to be used for maintaining direct as well as indirect taxes
- accounting in any domestic currency and two more bound currencies based on individual accounting records
- creating a variety of output reports, records, declarations, statements
- calculations of various indicators, their categories, time series and their export to managerial systems
- planning all conditions, their assessment in comparison to real conditions and planning imports from different systems in standard formats
- support of internal control system and controlling
- maintaining account files and account file cases
- managing monetary, foreign exchange account files, and tasks of completing inventory and assets acquisitions and inbound transactions
- maintaining account file operations and their binding to closing balances
- posting account transactions to auxiliary ledgers
- automatic balance and income exchange rate variance accounting
- automatic farthing variance accounting
- automatic annual balance sheet operation accounting
- automatic period-based operation accounting
- automatic accrual basis accounting and user-defined operation accounting
- automatic generating accumulated depreciation and reverse account records
- standard output types:
1. General Ledger
2. Trial starting balance
3. Accounting journal
4. Account transactions/balances
5. Accounts
6. Expense and revenue overview
7. Documentation for state reports (Income Statements, Balance Sheet, Cash Flow)
8. User reports
Accounting core and its binding to the environment
