Every financial transaction generated by our accounting system is accurately recorded and compiled in the PAMC general ledger. Its presentation has been thoughtfully created so that you can quickly and easily understand your current financial situation.
Accounting Module:
The core module of PAMC Software enables businesses to understand their current financial state, prepare and analyze financial statements, and forecast financial performance.
Key functions include
- Accounts Receivable: Managing customer invoices and payments.
- Accounts Payable: Handling supplier invoices and payments.
- General Ledger Management: Recording all financial transactions and maintaining the company’s financial records.
- Financial Reporting: Generating statements like Profit and Loss (P&L), balance sheets, and tax reports.
- Currency Support: PAMC Software supports multiple currencies, allowing transactions to be recorded in different currencies.
- Real-time Transaction Impact: The module provides an advanced presentation of the general ledger, allowing users to see real-time updates on any transaction affecting the income statement or balance sheet.
Inventory Integration:
PAMC Software is tightly integrated with inventory modules. This means that financial transactions related to inventory, such as purchases, sales, and adjustments, are seamlessly linked to the accounting system.
Benefits
- Accurate Tracking: Inventory movements are automatically reflected in the accounting records.
- Efficiency: No manual data entry is required for inventory-related transactions.
- Real-time Insights: Users can monitor inventory costs and values alongside financial data.
Punch Clock System Integration:
The accounting module integrates with the punch clock system to track employee working hours and calculate payroll.
Benefits
- Automated Payroll: Employee hours are directly linked to payroll calculations.
- Accuracy: Eliminates manual errors in recording work hours.
Project Work in Progress (WIP):
PAMC Software integrates with project management systems to handle work in progress.
Features
- Cost Allocation: Allocating costs to ongoing projects.
- Revenue Recognition: Recognizing revenue as projects progress.
- Profitability Analysis: Monitoring project profitability.
Fiscal Periods and Sales Taxes:
PAMC Software supports fiscal periods, allowing businesses to organize financial data by specific time intervals (e.g., months, quarters, or years).
- Sales Taxes Reporting: The module integrates with accounts payable and accounts receivable to generate accurate sales tax amounts for government reporting.
- Manual Adjustments: Users can apply manual entries for any necessary adjustments, especially during financial audits.
PAMC Software’s comprehensive accounting modules ensure efficient financial management, seamless integration with other systems, and compliance with reporting requirements. Whether handling multiple currencies or managing complex transactions, PAMC Software provides robust solutions for businesses.