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1. General Ledger Information System
Giridhar Kumar
Madhusoodan Bhat

2. One source different information needs
Direct Tax

3. 3
• Ease of access for relevant information in a quick and reliable
manner
Accessibility
• Lack of centralized repository leads to higher storage, printing
and transportation cost
Cost
• Consolidation of information from different locations is a
challenge
Consolidation
• Since same information is required for different purpose leads to
duplication
Duplication
• Due to manual efforts and lack of validations, there is always
chance for errors and mistakes
Errors and
Mistakes
• Constant follow up with different units is requiredFollow Up
• Information obtained in current set up may not be reliable due to
lack of audit trail on review process
Reliability
Challenges

4. Process and Components
4
Master Data
•Location Master
•GL Master
•Validations
•Task Master
Task
Management
•Create Task
• Assign Category
• Set Priority
• Set Frequency
•Task Calendar
•Monitor Task
Input Interface
•Simple and User
friendly
•Flexible to suit
most of the needs
•Controls and
Validation
•Review of the
input captured
•Attach supporting
documentation
Reports
•Real-time
dashboards and
reports
•Single place to
get reports for
entire
organization
Role
Management
•Multiple Roles for
effective control
•Segregation of
duties for better
control
Define
Masters
Master
Create and
manage
task
Task
Manage
ment
Capture
data
Capture
Data
Review as
per
workflow
Review
Data
Extract
report
Report

5. How It works
Unit
C
Unit
B
Unit
A
Create
Task
Assign
to Units
Centralize
data base
Automated
Reports
Real-time
Report
Dashboard
TB

6. Master Data
6
• Centralized control by Admin User
• Validations to ensure data integrity and redundancy
• Types of Masters (E.g.)
• Location Master
• GL Master
• Task Master

7. Task Management
7
• Tasks can be flexible based on requirements
• Prioritize the tasks based on criticality and importance
• Role-based workflow review process with built in audit-trail
• Auto - schedule recurring tasks at planned intervals
• Reminders for high priority tasks through SMS & email
• Sequencing of tasks to ensure appropriate order
• Task calendar for easy tracking and monitoring
• Allows to compare and report deviations

8. Input Interface
8
• Simple and User friendly Interface
• Flexible interface as per requirement
• Standard templates for easy data capturing process
• Validations and review process to ensure that data is error
free
• Option to attach additional supporting
• Windows Authentication

9. Reports
9
• Consolidated reports as per requirements
• Automated reports to users at regular intervals
• Automated Exception reports for deviations
• Flexible and versatile reports
• Real time report dashboard

10. Role Management
• Multiple roles for segregation of duties
• Enhanced control by role based access to
modules
• Easy set up of approvals and users
• Admin role for centralized access control
• Special access for auditors to view reports,
supporting and audit trail

11. Examples
IGAAP Financials
• Loans and
advances
• Recoverability
• Supporting
documentation
• Classification
between
current and
non current
• Provisioning
IFRS Financials /
Monthly Flash
Reporting
• Stock Losses
• Categorization
of losses
• Broad break up
of stock losses
• Provision
management
Direct Tax Audits /
Assessments
• TDS compliance
• Timeliness of
payments
• Documentation
/ challan
• Control checks
for account
level
compliance to
TDS provisions
Indirect Tax
Audits /
Assessments
• Service Tax &
VAT
compliances
IFC Risks
• Mapping of Key
risks with
account
balances
• IFC results
quantified and
translated in
monetary terms

12. Benefits of GL Information System
Set of highly customizable tasks to collect information required from multiple locations
Standard templates and validations to ensure the data accuracy
Central repository of the information collected from various locations
Achieve greater accuracy in financial statements by eliminating manual tie-out processes
Provide greater control and visibility in real-time

13. Proposed Development Plan
Phase II
Capture of reclassification entries with
supporting's
Online sign off of financials
Phase I
IGAAP Financials
IFRS Financials /
Monthly Flash
Reporting
Direct Tax Audits /
Assessments /
Information
Indirect Tax Audits
/ Assessments
IFC Risks