1. Financial and Accounting Management

If you’re like most business owners, you might have initially used a spreadsheet to track your finances. That’s a good tactic to start, but as your business grows, it will almost certainly become a challenge to stay on top of all your transactions with this kind of manual accounting system. That’s where accounting software comes in.
Following functionalities provided in accounting part of ERP:

• Trial Balances (Current & Periodic)
• Daily Cash Book Management
• Daily Bank Book Management
• Daily Accounting Activity
• General Ledgers
• Customer and Vendor Statements
• Vouchers Postings
• Expenses Management
• Overheads Management
• Transactional Reporting
• Summarize GL Reporting
• Financial Statement: Profit and Loss Accounts
• Financial Statement: Trading Accounts
• Financial Statement: Balance Sheets

2. Receivables and Payables Management

Receivables, also referred to as accounts receivable, are debts owed to a company by its customers for goods or services that have been delivered or used but not yet paid for. Accounts payable (AP) represents the amount that a company owes to its creditors and suppliers (also referred to as a current liability account).

Our ERP system automatically maintains aging and other outstanding bills based on actual and FIFO basis. In addition, this system provides a variety of reports as listed below regarding Receivables & Payables:

• A/c. Receivable Outstanding Summary
• A/c. Receivables Aging (Day, Month, and Year wise)
• A/c. Receivables Outstanding Invoices (Actual or FIFO based)
• A/c. Recoveries Net Off against outstanding customer invoices
• A/c. Payables Outstanding Summary
• A/c. Payables Aging (Day, Month, and Year wise)
• A/c. Payables Outstanding Invoices (Actual or FIFO based)
• A/c. Payables Net Off against outstanding customer invoices

PDC Cheques Management

A post-dated cheque is a form of a cheque drawn with a future date written on it. Simply put, a post-dated cheque is one which is drawn with a date that is after the date on which the cheque was written. In our ERP, PDC (Payments & Receipts) for both are managed and maintained with all relevant details mentioned below.

This module manages the functionality of post-dated cheques with the following features:

• Receipts: How many PDC cheques received
• Receipts: How many PDC cheques utilized/deposited
• Receipts: How many PDC cheques in hand for future deposits
• Payments: How many PDC cheques issued
• Payments: How many PDC issued cheques un-presented
• GL Posting according to cheque status

Import Management & Costing

When a business based in one country purchases products or materials provided by a business based in another country, it is called import. Various processes are involved in importing goods from a foreign country into your home country. In our ERP, all import processes are automated, and the landed cost of imported goods is derived.

Our ERP provides a complete solution for calculating the landed cost of goods through imports with auto allocation of overheads. This module will give you a complete costing breakdown of import goods, including duties, taxes, clearing, and transportation. It plays a vital role for import-based entities in terms of cost calculation of imported goods, with significant time savings.

• Proforma Invoice
• Goods Declaration (GD)
• Letter of Credit
• Custom Duties & Taxes
• Overheads & Expenses
• Per Unit Auto Allocation of Overheads
• Financial Accounting

Orders Management

A sales contract is an agreement between a buyer and seller covering the sale and delivery of goods according to agreed terms and conditions. A purchase order is a source document issued by a business's purchasing department when placing an order with its vendors or suppliers for the buying of materials. The document indicates the details of the items to be purchased, such as the types of goods, quantity, and price.

In our ERP, complete sales contracts for exports and local sales, as well as purchase orders for buying, are maintained efficiently.

Sales Order:

• Recording of customer purchase order as sales order
• Details of what and how many products are ordered by the customer
• Reconcile order pricing with invoicing
• Manage order deliveries timelines
• Status of goods delivered against the sales order
• Status of pending deliveries
• Manage the history of sales orders for future reference

Purchase Orders:

• Generate and record purchase orders for buying
• Details of what and how much material is ordered from local vendors
• Reconcile order pricing with vendor invoices
• Status of material/goods received against issued purchase orders
• Status of pending material/goods receipts
• Manage the history of purchase orders for future rate reference

Sales & Distribution Management

Every business, whether small or big, wishes to increase the sales of their product. However, this selling journey is incomplete without setting up efficient sales process steps.

In our ERP, a sales process helps you to manage all sales-related activities as per the details below:

• Sales Quotations
• Sales Orders
• Sales Delivery Challans
• Sales Invoices
• Service Invoices
• Sales Portfolio (By Customer, By Product, and various dimensions like Salesman, City, Region, Period)
• Sales Reports and Summaries
• Sales Comparisons Quantities and Volumes
• Management of Customers Sales Limits
• Sales Price History (By Customer, By Product in any period of time)

Purchases and Procurement

The Bestow purchase module is part of our basic application and is used to purchase goods from local suppliers based on purchase orders. This module provides you with a complete history of buying from different suppliers with different products.

The purchase module is integrated with the inventory and accounting modules and automatically posts all inventory and accounting impacts at the time of the buying action.

• Purchase Requisition
• Purchase Orders
• Purchase Invoices
• Purchase Returns / Debit Notes
• History for Purchase Prices Vendor Wise
• History for Purchase Prices Material Wise
• Integration with financial module for GL Posting

Production Module

The Daily Production Module will be a part of this ERP with the following functionalities:

• Job Order
• Job Order Production
• Bill Of Material
• Production Batch
• Daily Production of Finished Goods
• Wastages Management
• Inventory Impacts of Raw Material Consumption
• Inventory Impacts of Finished Goods Production

Costing & Profitability

The ERP will provide functionality to derive the actual production cost of a product with the following features:

• Production Job Order: Material Cost of Product
• Overhead Allocation on Product Cost

Profitability of sales will be assessed based on both standard product cost and actual product cost. The standard product cost is determined based on frozen parameters of costing, including user-defined inputs for material cost, overheads, and other factors.

Sales Tax Management

The Sales Tax module is specifically designed according to the audit and reporting needs of the sales tax department for periodic sales tax reporting. This module maintains multiple sales tax rates, further tax, sales tax exemptions, sales tax inventory, sales tax statements, and summaries as per the list below:

• Sales Tax Invoice
• Sales & Suppliers Registers
• Goods Purchase Register
• Import Register of Sales Tax
• Sales Tax Debit Notes and Credit Notes
• Further Sales Tax and GST Held Features
• Sales Tax Stock Inward Register
• Sales Tax Stock Outward Register
• Stock Position (Sales Tax Format)
• Sales Tax Ledgers
• Sales Tax Input Summary - Supplier, Item Wise, GST Rate Wise
• Sales Tax Output Summary – Customer & Invoice Wise, GST Rate Wise
• Sales Tax Reporting (Input & Output)
• Sales Tax Annex – C

Inventory Control Management

Inventory control is the process of managing stock once it arrives at a warehouse, store, or other storage location. It is solely concerned with regulating what is already present and involves planning for sales and stock-outs, optimizing inventory for maximum benefit, and preventing the pile-up of dead stock.

The Inventory module of our ERP is the ultimate solution for all inventory management challenges of an organization. It provides multi-warehouse features to manage inventories across multiple locations.

Features:

• Goods Receipts in Warehouse
• Store Requisition for Goods Issue (Location Wise)
• Stock Position: Finished Goods, Raw Materials, Packing Materials
• Stock Ledgers: Finished Goods, Raw Materials, Packing Materials
• Goods Delivery Register (Customer Wise, Item Wise Summary and Detail)
• Goods Inter Transfers Notes (Location Wise)
• Store Enquiries: Goods Availability
• Management of Products Inventory Min & Max Re-Order Levels
• Stock Valuation (LIFO, FIFO, and Weighted Averages)
• Stock Valuation (Location Wise / Consolidated)
• Integration with GL Module for Financial Postings

Customer Relationship Management

Customer Relationship Management (CRM) is a technology for managing all your company's relationships and interactions with customers and potential customers. The goal is simple: improve business relationships to grow your business.

Our CRM module maintains the demographics of all customers with various dimensions. It also enables the management of customer limits and aging details with integration into sales and finance.

Vendor Relationship Management

Vendor management is a term that describes the processes organizations use to manage their suppliers, also known as vendors. Vendor management includes activities such as selecting vendors, negotiating contracts, controlling costs, reducing vendor-related risks, and ensuring service delivery.

Gate Control System

Traditionally, a gate pass is a simple document used to track material or goods moving inward and outward from your business premises. Digital gate passes can automate the entire material or goods gate pass process.

Inward and outward gate passes are important processes in any organization for goods/material issuance and receipts by gatekeepers.

In our ERP, two types of outward gate passes are maintained:

• The first is for material or goods leaving the business location for sales deliveries.
• The second is for returnable goods management, where material, goods, or equipment leave the location for third-party jobs or activities and are returned back to the business location.

Features:

• Automate Outward Gate Passes
• Automate Inward Gate Passes
• Tracking of Returnable Gate Passes / Goods
• Integration with Inventory Control Module

Budgeting & Forecasting

Monthly, quarterly, and annual financial budgets, as well as sales targets management, are handled with comparisons and analysis of actual numbers.

• Expenses Budget Allocation (Monthly, Quarterly, Half-Yearly, and Yearly Basis)
• Sales Targets Budget Allocation (Periodically, Salespersons, Products, Regions)
• Product Sales Targets Budget Allocation (Monthly, Quarterly, Half-Yearly, and Yearly Basis)
• Actual vs Budgeted Comparison for Sales Targets
• Actual vs Budgeted Comparison for Production
• Actual vs Budgeted Comparison for Administration
• Actual vs Budgeted Comparison for Expenses

Employees Payroll Processing

Payroll Management System is the system by which an organization can manage the salaries of its employees. The salary structure includes salary, allowances, loans and advances, deductions, and net payable to the employees. It also deals with the generation of pay slips.

In our ERP, the following functionalities are managed for monthly staff payroll:

• Monthly Payroll Sheet (By Cash or By Cheque Distribution)
• Monthly Staff Pay Slips
• Monthly Bank Salary Statement for Payroll Distribution
• Staff Loans
• Staff Advances
• Monthly Fixed and Variable Allowances
• Monthly Fixed and Variable Deductions
• Income Tax, EOBI & SESSI

User Security & Administration

The Users Administration module offers role-based user security, allowing you to define users and roles for various interfaces in the application.

• User Creation and Assignment of Working Roles and Permissions
• Tracking and Controlling the Work Done by Users
• Defining Roles with User-Defined Access Privileges to Different Modules
• Control of Backdated and Future Date Transactions by Users
• Active and Inactive Users
• Users Report by Report Permissions
• Users Forms by Forms Permissions
• Application User Roles for Data Insertion, Amendments, and Deletion

Accuracy Control: Maker & Checker Process

The first user is responsible for creating the request or transaction (known as the maker), while the second person checks and approves the transaction as a supervisor (known as the checker).

In the ERP system, all major financial activities go through this process to ensure data accuracy at all levels.

SMS Circulation Functionality

This module provides functionality to circulate SMS from ERP to customers and vendors:

• SMS at Sales Order Approvals
• SMS at Processing of Delivery Challan
• SMS at Processing of Sales Invoices
• SMS for Payments / Recoveries
• SMS Overdue Reminders
• Batch SMS Processing

Barcode Tagging and Scanning

Bestow introduces a complete and comprehensive BAR CODE System for Trade, Import, and Manufacturing units, aiming to become the software-of-choice for the most discerning segments of the corporate and consumer markets in Pakistan. This system enables you to manage the accuracy of goods moving inward and outward from inventory stores.

Multi Company Registration

In the new ERP, you can manage multiple companies' portfolios as separate business identities under a centralized chart of accounts. This feature reduces the cost and effort associated with using multiple applications for each business unit. You can handle all your business units within a single application.

MIS Reporting

MIS Reporting is the model for consolidating all companies' financial reports under one group of companies.