WebXpress Solutions Finance

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WebXpress Finance Solutions

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WebXpress Solutions Finance

  1. 1. May 30, 2012 WebXpress Logistics Solution Offering Finance & Accounts Apurva Mankad ECFY Consulting Pvt. Ltd. apurva@webxpress.in w w w. w e b x p r e s s. i n
  2. 2. WebXpress Product Suite Business Intelligence- Qlikview/ Microsoft BI WebXpress Product SuiteDEVICES CustomerAndroid B2B PortalHHT Fleet Management Transportation Order Mgm & WMS Integration • TrackingGPS Web ServicesBar Code ANSI X12 • Invoice Cold Chain Home Delivery EXIM ContainersRFID RosettaNet • ComplaintsSensors Finance & Accounts | CRM • Enquiry • Contracts • E-POD Allied Services: Managed Web Hosting | Connectivity
  3. 3. Why WebXpress? Proven Solution • Over 2000 users, 1200 locations, 2 mn transactions per monthLineage Diversified Customer base • Built in Industry practices• Promoted by professionals • Start-ups to industry leaders• From IT and logistics industry • LSPs and user industry• Global expertise for local needs • IT challenged to IT mature The WebXpress AdvantageDomain Focus Support Infrastructure• Undiluted focus on supply chain • Online Customer Support Portal and logistics • Telephonic and IM support Ecosystem Approach• Product focus with services • Project Management Office • One stop solution• Transaction to Analysis • Web hosting to GPS to training • Enabled through partners A Technology Solution that works even at the Bottom of the Pyramid
  4. 4. WebXpress Customers WebXpress is used by
  5. 5. WebXpress WMS Customers 3PL PARTNERS Deployments Deployments
  6. 6. WebXpress Partners
  7. 7. May 30, 2012 Solution Offering: WebXpress Finance
  8. 8. WebXpress Finance & Accounts Modules Income  Accounts • Freight Billing- generation, submission, • Auto-posting for Income, Expense and collection Octroi • Trip Sheet billing • Voucher Entry- Debit, Credit, Contra, JV • Supplementary Billing • Special cost and credit voucher Expenses  Banking • Freight vendor payment- Line haul and • Cheque Deposit Voucher last mile • Bank Reconciliation • Driver settlement • Cash & Bank Statements • General vendor payment  Fixed Asset Management Octroi Management • PO Generation and advance • Billing to collection • GRN against PO • Octroi Agent Payment • Vendor Payment • Asset Allocation • Depreciation calculation
  9. 9. Invoice Cycle Invoice Docket Finalization Docket Booking Docket Financial Edit POD Approval Bill generation Bill submission update Bill Collection Cheque: Deposit Voucher Generate MR Cash: Receipt Voucher Update CBS & A/R
  10. 10. Invoice Options Invoice generation options  Invoice collection • Mode wise invoices • Docket wise deduction entry • Business Division wise invoices • On account cheque entry possible • Customer wise / Multiple customer • Collection of invoice against previously invoicing entered on a/c cheque possible Due date options • Multiple collection of same invoice • From date of generation possible • From date of submission • Invoice part collection at location A and part at location B possible Invoice submission & collection options • Invoice locations from customer contract or Booking location • Generation at A, submission at B and collection at C possible Invoice print options • Cover page • Annexure in XLS
  11. 11. Invoice Rules Example- Set in Configuration Tool Rule Description Yes/ No ValueBusiness Type Wise Billing Y/N YBill Generation After POD Approval Y/N YBill Generation Min Date As per back dateBill Generation Max Date System dateAllow BackDate Bill Generation YBackdate Days For Bill Generation 30 daysBillGeneration Location BasedOn As per contractOut Standing Amt >Credit Limit Allow NBill Amt > Credit Limit Allow NBill Sub Location Same AS Bill Location As per contractBill Coll Location Same AS Bill Location As per contractBill Due Date Based On -Bill generation Date/Submission date Bill Sub DateManual BillNO Mandatory Y/N NDuplicate Check on Manual BillNo Y/N NAOn Account Cheque Applicable Y/N YAllow BackDate Bill Collection NBackdate Days For Bill Collection NAChq Bounce Module Y/N YDocket Wise Bill Collection Y/N YManual MR Mandatory Y/N NADuplicate Check on Manual MR Y/N NASkip BillSubmission For Paid/To Pay Bill Y/N YDue Days For Paid/To Pay Bill Due Date 1 for Paid, 7 for To pay
  12. 12. Vendor Cycle Document- VHC/PRS/DRS Document Entry and Contract Population Advance Payment Vendor Bill Entry Balance Payment Vendor Bill Entry Payment Payment Voucher Update CBS & A/R
  13. 13. Vendor Payment Options Vendor Payment PRS VHC DRS BA Payment- Per Kg/ Attached Vendor- Fixed BA Payment- Per Kg/ per Package + variable Route wise per Package Attached Vendor- Per Attached Vendor- Per Attached Vendor- Per Km Basis Km Basis Km Basis Attached Vendor- Per Kg basis Attached Vendor- Fixed + variable City wise
  14. 14. Vendor Payment TypesVendor type Payment Transactio Type of Payment calculation Variable docume n source contract method ntBusiness Docket DRS/PRS Business Per Kg/ % of freight Location-cityAssociate AssociateAttached VHC VHC Route based Fixed rate for given RouteVendor route and given FTL typeAttached VHC VHC Route based Per Kg for a given RouteVendor routeAttached VHC VHC City Fixed rate for given CityVendor combination city combination and combination in based given FTL type VHCAttached VHC VHC City Per Kg for a given city CityVendor combination combo combination in based VHCAttached VHC VHC Km. based Per Km. subject to Sum of Km. inVendor minimum rate and VHC minimum KmAttached PRS/DRS PRS/DRS Km. based Per Km. subject to Sum of Km. inVendor minimum rate and PRS/DRS minimum Km3PL Vendor Docket Docket 3PL contract Per docket as per Docket rates docket rate entry
  15. 15. Vendor Payment Rules All vendors are attached means they must be present in vendor master and may or many to have a contract in place A vendor can have ONLY one type of vendor contract A given vendor can have ONLY one vendor type. 3PL for us is just a vendor type that signifies back to back billing to customer on docket basis Volumetric conversion is only in case of 3PL vendor as this is the only vendor type where payment transaction source is docket The contract does not define period. User is required to select transactions in a given date range that may happen to be 10 days, 1 month, 2 months. System will aggregate all transactions and apply rates as per contract Once a transaction document is billed, it can not be billed again. Exception is in case of BA where same docket can be billed separately for booking and delivery BA
  16. 16. Octroi Management Document- Docket Octroi Invoice Entry Octroi Vendor Bill Entry Octroi Money Receipt Octroi Voucher Entry
  17. 17. Octroi Rules Octroi invoices and payment are separate from rest of the finance. This is because Octroi amount is many time larger than freight and should be collected as fast as possible It is possible to collect octroi from any location in network. This is to reduce time delay on collecting octroi Once Octroi data is entered in either invoice or payment document, it automatically reflects in the other document Octroi amount once entered can not be changed Octroi is posted in Octroi Control Ledger and thus is not part of P&L Octroi service/processing charge is income from customer and expense when paid to vendor Once octroi is collected or paid for a docket, it can not be repeated
  18. 18. May 30, 2012 Solution Offering: WebXpress Online Accounts
  19. 19. WebXpress Accounts- Salient Features WebXpress has an Integrated Online Financial Accounts System compliant with Indian GAAP About 80-90% of accounts transactions are posted automatically from operations system, reducing data entry by over 80% WebXpress Accounts helps customers to track P&L, TB and BS of every location individually WebXpress Accounts provides and Online and Real Time view of Cash & Bank position of each location WebXpress Accounts follows a SINGLE and UNIFORM Chart of Account (CoA) across locations. The CoA is controlled centrally and no location can add/ edit any accounts groups or ledgers The sub-ledgers in CoA are created from Masters thus there is no need to create separate sub- ledgers for every location As a centralized CoA, there is no need to consolidate accounts of various locations. Accounts are entered into a SINGLE CoA but referenced by locations
  20. 20. Sub-ledgers from Masters WebXpress removes need for creating sub- ledgers for customer, vendors, vehicles, TRANSACTION drivers etc. Accounting transactions are posted with reference of relevant code For example when Bill Debtor is Dr, system also records customer code against that Ledgers Masters transaction Thus, ledger can then be viewed with reference to a particular customer or vendor as the case may be This avoids need to maintain masters and Accounts Transaction Database sub-ledgers separately and still provides view of every sub-ledger
  21. 21. Understanding WebXpress Accounts FeaturesCENTRALISED & ONLINE ACCOUNTS AUTOMATIC & INTEGRATED This means that locations can not change  As operation transactions happen, relevant accounts rules account entries are automatically posted Provides high integrity of accounts structure  No need to take transaction data to As entries are entered across India, central accounting system and post manually accounts can see the effects immediately  Saves data entry by over 70% as more than No need to get accounts data from across 80% of accounts transaction originate in locations and consolidate operations  For example, when a bill is generated, Billed Debtor ledger is Dr. and Income Cr.. When bill is collected Bill Debtor is Cr. and Cash/bank Dr.
  22. 22. Understanding WebXpress Accounts Features Automatic Posting Treatment Chart  All operational transactions are integrated with accounts as per pre-set accounting rules  All posting carried out ONLY on finalization of an operational transactions  These rules define instance of accounting, location and entry  The rules are set in accordance with Indian Accounting Standards as set by ICAI and in line with Accounting policies of customer  For example, following rule sheet defines accounts treatment when bill is generated When Bill is Generated Value Name Acccode Accdesc Debit Credit Narration CDA0001 Billed Debtors 5050 0 WHEN BILL IS GENERATED BL/KNUN/07/700002Sub Total CDA0002 Unbilled Debtors 0 5050 WHEN BILL IS GENERATED BL/KNUN/07/700002 CDA0001 Billed Debtors 606 0 WHEN BILL IS GENERATED BL/KNUN/07/700002S.tax CDA0002 Unbilled Debtors 0 606 WHEN BILL IS GENERATED BL/KNUN/07/700002 CDA0001 Billed Debtors 12 0 WHEN BILL IS GENERATED BL/KNUN/07/700002Cess CDA0002 Unbilled Debtors 0 12 WHEN BILL IS GENERATED BL/KNUN/07/700002 CDA0001 Billed Debtors 6 0 WHEN BILL IS GENERATED BL/KNUN/07/700002H. Cess CDA0002 Unbilled Debtors 0 6 WHEN BILL IS GENERATED BL/KNUN/07/700002
  23. 23. Auto Posting File Please double click on file below to see sample Auto Posting Policies for various transactions Auto Posting
  24. 24. Understanding WebXpress Accounts FeaturesEVERY LOCATION AS PROFIT CENTER REAL TIME CASH & BANK STATUS All accounting entries are posted in  All Dr and Cr entries are posted as WebXpress along with reference of location transactions are carried out Thus it is possible to view every ledger  Cash/ bank is Dr./ Cr. as a result of these filtered by a every location entries This helps to check P&L, TB and BS of every  All transactions can be viewed in form of a location individually Cash & Bank statement The location can be grouped by area or  It is possible to view cash & bank statement region to get area wise or region wise P&L of ANY location from anywhere subject to analysis rights  Thus, management has an ONLINE & REAL TIME idea of cash/ bank position of entire business
  25. 25. Chart of AccountCoA features System accounts Chart of accounts is specified in WebXpress  Some of the account heads are also used to by company’s accounts department post automatic accounting entries for CoA remains SAME for all locations and can transactions not be altered by locations  These accounts are embedded into CoA is managed centrally and modifications transactions care carried out with approval from Account  These accounts CAN NOT BE removed from Head/ CFO CoA, but names can be changed WebXpress provides its own internal account  Example accounts: code to each account group and ledger • Billed Debtors It is possible to also define company’s • Sundry Creditors internal accounts code against each account • Cash in hand or group It is possible to add new account heads or inactivate existing account heads
  26. 26. COACOA Hierarchy EXAMPLES CATEGORY  ASSETS • GROUP • Fixed Assets  SUB GROUP  Furniture & fixtures – LEDGER • Investments • Current Assets  LIABILITIES • Share Capital • Reserves & Surplus • Current Liabilities  INCOME • Operations Income  Freight Income- TBB • Other Income  EXPENDITURE • Operations cost  Transport Costs • Personnel cost • Communication cost
  27. 27. May 30, 2012 Thank you APURVA MANKAD, CEO apurva@webxpress.in +91 98202 29708 ECFY Consulting Private limited w w w. w e b x p r e s s. i n

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