Manufacturing Accounting System (MAS)

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Manufacturing Accounting System (MAS) 2017-11-04T08:50:54+00:00

Manufacturing Accounting System (MAS)

MAS is web-based ERP software, promising you to connect your departments, branches, customers, suppliers, agents under a central system. MAS ERP comprises of host of Integrated functionality including, Manufacturing, Inventory & Material Management, Sales and Distribution Management, Supplier and Purchase Management, Human Resource Management, Finance Resource Management, Plant Maintenance and Excise Management.

The depth of functionality means that the solution can be readily adapted to support a wide range of operational execution styles. MAS is designed with operational efficiency in mind.

Accounting Information System

Financial Management is the core of MAS ERP software platform. MAS Financial Management System is easy to use, a complete software solution which automates and streamlines your entire financial transactions that enable you to compete in a vibrant environment. In every business having a clear, comprehensive and transparent record keeping system is essential, and Accounting is the most basic framework of any business. MAS Financial Management Software provides high financial intelligibility by delivering accurate data and restricting unauthorized access to crucial financial information.

MAS Financial Management System provides an organization, great financial intelligibility thus empowering company-wide financial control through improved financial management and forecasting. It offers efficient solutions to maintain complete Financial Control from creating and managing transactions to consolidating and reporting results. MAS Financial Management software system is a fully integrated financial solution that ensures access to accurate financial information for the effective monitoring and proper management of financial activities.

Benefits at a glance

Create precise and well-timed financial reports while complying with accounting standards

  • Provide robust internal security features that deliver accurate information, preventing unauthorized access to crucial financial data
  • Fully integrated with the other modules of the ERP software system
  • Automation process reduces paperwork and data entry thereby eliminating chances of errors
  • It eliminates duplicate work, repeated data entry and automates all process
  • Provide financial intelligence, allowing company-wide financial control through improved financial management and forecasting
  • Streamline your accounts payable process, monitor payment status, and ensure payment compliance with our end-to-end invoice management system
  • Speeds up data entry and also provides more visibility into the business thus enabling the management to plan and forecast accurately
  • Multi-Currency capabilities for enabling global compatibility
  • A robust audit trail that logs the users entering the transactions and also tracks the date, time and system from which the transaction vouchers are printed
  • Immediate updating of transactions to GL (General Ledger)

The accounting system’s content is no different than a conventional accounting system. But it differs from the other accounting system hugely for its

  • flexibility,
  • user friendliness,
  • strong reporting
  • customizability

This accounting system module has following components

  • General Ledger
  • Accounts Receivable
  • Accounts Payable
  • Trial Balance
  • Profit and Loss accounts
  • Cash flow statement
  • Balance Sheet
  • Production Cost Sheet

Trial Balance: It will be by the balances of each and every account’s balance. It will justify the correctness of the accounting procedure. And also help to prepare Balance sheet and profit and loss account.

Profit and loss account: Every profit or loss generating financial activities will be recorded in this statement. It is basically a reporting tool for the top management to visualize the company’s current operating situation and to improve future operation by identifying the field of further improvement. 

Balance Sheet: It is also a reporting tool for the management where they will have a clear view to its total asset and it total debt. Beside this, it will also help to decide company’s current liquidity position, asset management, liability management, cash management and also give clinch view to it’s over all stock position. 

Production Cost Sheet: This is one of the essentials as well as important for a manufacturing company like KPL. It will help the management to have a better look at its operation and to understand the costing at different segment of operation and most importantly to decide its products selling price.

Warehouse Management System

MAS Warehouse Management System (WMS) is a system that supports the day-to-day operations in a warehouse. WMS programs enable centralized management of tasks such as tracking inventory levels and stock locations. No matter how simple or complex the application is, the goal of a warehouse management system remains the same – to provide management with the information it needs to efficiently control the movement of materials within a warehouse.

Warehouses play a vital role in the supply chain industry by controlling the storage and in and out movement of materials. Managers face huge challenges due to damaged inventory, inaccurate inventory counts and other inventory-related issues. MAS WMS helps you gain control over your warehouse effectiveness and transform your operations to boost your competitiveness. MAS WMS automates inbound, outbound and warehousing operations, resulting in improved productivity, space utilization and customer satisfaction.

MAS WMS is a robust – integrated system that supports the day-to-day operations in a warehouse. MAS WMS programs enable centralized management of tasks such as tracking inventory levels and stock locations. No matter how simple or complex the application is, the goal of a warehouse management system remains the same – to provide management with the information it needs to control the movement of materials within a warehouse efficiently.

  • Ease problems and issues with improved warehouse efficiency.
  • Transform operations into an adaptive environment enabling you to allocate its resources.
  • Manage movements in the warehouse
  • Real-time information
  • Inbound and outbound serial tracking
  • Integrated system -Immediately update data throughout the system
  • Automate the movement of goods within the warehouse, optimizing valuable inventory, warehouse space and labor resources
  • Improve management and utilization of warehouse space
  • Ability to prioritize orders according to available labour and shipment deadlines
  • Achieve real-time, detailed visibility into key inventory control.
  • Dynamic reports and Dash Boards provide clearer insight into warehouse resources at any point of time.

We have seen that KPL records have two types of stocks; one is “Stock in Pipeline” and the other is “Stock Received”.  Addition of these two makes the overall stock position.

At first there should be a form to record import orders or accepted requisition (which is a basis of giving import order) as they give all import order through L/C so this system will also need to record the order on the basis of L/C.

When raw materials of an import order will be received it will be recorded in this system. Basically stocks are recorded at the time of giving Import Order but then it is the stocks in pipeline. When the stocks are received physically it will be added with the physical stocks/Received Stocks and deducted from “Stock in Pipeline”. At the time of recording received of stock there should be a declaration of certain things like received amount, Items Description, Price, Source etc.

There will also be facilities for recording disbursement of stocks as these disbursements may be for several reasons. So disbursement will need to be recorded with the reason/status and of course with details information.

Here the most important things to note that there will be uses of two systems one is LIFO for stock pricing and FIFO for stock issuing. And this proposed system is capable of determining the difference between these two systems and implementing where it is necessary.

As we have experience that stocks are kept in 3 different warehouses and there is no system to keep certain kind of stocks in a certain houses so sometimes it take time to find out a stock. In the proposed system this discrepancy can be removed by assigning codes to all stores.

We have also seen that there is no provision for recording returned stock so this system will not allow to record returned from other department.

Reporting tools for Inventory department:

There will be a report of stock at hand mentioning details like volume, amount in taka, average rate, L/C date etc.

There will be a report for stock consumption which can be generated by date, by the production unit.

There will be a report for stock re order level.

Production Planning System

An organization in manufacturing industry requires speed, precision, and accuracy in customer demand management, to stay ahead of the competition. MAS is designed to support the various manufacturing processes such as discrete, make-to-order, engineer-to-order, configure-to-order, mixed-mode, and make-to-stock environments.

MAS software for Production Management handles the core functionality of Production department. Production planning, the creation of batches for production, calculating costs for production, machinery usage tracking and supporting reports are the core processes involved. This production management software system is mainly designed to monitor the daily productions taking place in the organization.

With MAS Production Management Module, manufacturing companies gain a fully integrated, on-demand business management platform to reduce costs, improve customer service, increase margins and generate new revenue streams. Further, manufacturers can improve business performance with a deeply functional, yet easily affordable, Web-based software solution.

  • Complete visibility into the Production system
  • Streamlines entire production management processes
  • Greatly reduces chances defects and scrap thereby improving product quality
  • Reduces bulky raw materials inventory
  • Reduced manufacturing costs and cycle time
  • Automation process reduces paperwork and data entry thereby eliminating chances of errors in cost calculation
  • Eliminate duplicate work, repeated data entry and automates all process
  • Web-based ERP software can provide flexibility and convenience in implementation and operation
  • Option to track the labour and other expenses incurred during the production
  • Creation of dates for production with batch production and Expiry date
  • During Production process – batch, production quantity, Raw Material Store and Finished product store can be defined
  • Automatic calculation of raw material cost by system based on Bill of Material.

Production planning has been done by the production manager who prepares daily job list and entering data about the stage of production to the newly build system will the of to do list prepared by other departmental managers. It will be easier for production department to prepare its daily plan if it has a clear view of what is needed to be done.

Production Manager can input different variable related with production and he will get his daily planning done where product name, client name, job order no, shift number, production quantity will be shown along with auto generated raw materials needed.

There will also be a note for preparing costing estimates which will help sales department to determine products selling price.

Reporting tools for Production department:

There will be a report for job to be done report mentioning information of delivery dates, job order no, product code, product name, order qty, etc.

Sales Management System

In any organization, the sales department plays a pivotal role in the success of the business. In today’s highly competitive market environment they face a number of challenges, problems and issues on a regular basis. The challenges faced by your sales department include maintaining of the customer and product database, tracking of sales cycle that includes capturing inquiries, order placement, order scheduling and then dispatching and invoicing, covering of stock transfer between warehouses. MAS Sales management software system streamlines the entire sales flow of the organization by eliminating chances of any manual bottlenecks and errors and establishing a smooth flow from Sales Quotation, and Order to Invoicing and payment receipt.

MAS Sales management software provides in-depth insight into the primary business processes involved in the Sales flow of an enterprise such as quotation, sales order processing, delivery note, returns handling and invoicing. The system is designed to optimize sales management processes by improving customer service, evaluating sales activities, capturing trends, and performing an advanced statistical analysis. This smart sales management system streamlines the entire Sales flow of the organization by eliminating chances of any manual bottlenecks and errors and establishing a smooth flow from Sales Quotation and Order to Invoicing and payment receipt.

  • Cloud, Web, On-Premise or Hybrid ERP software system gives you the freedom and flexibility to manage your enterprise from anywhere.
  • Enhance your inbound and outbound sales processes.
  • Eliminates chances of any manual bottlenecks and errors.
  • Allows tracking of each customer orders and sales tenders.
  • Provides in-depth insight into the main business processes.
  • Fully integrated with the other modules of the ERP software System.
  • Accurate and up-to-date status information with notification Follow-up system. Reduce unnecessary paperwork, delays and errors.
  • System smoothly handles the quote-to-order-to-bill process by converting orders into invoices and executing the orders eliminating delays caused due to manual entries.
  • Non-Inventory Sales of Items can be carried out allowing users to create A/R invoices without affecting the stock/inventory.

Production initiates after getting a sales order. This process begins with new customer registration. New customers are registered after providing adequate information of that customer and Unique customer ID will be generated by the system.

When customer will place an order it will be recorded with every possible details like structure, thickness, ink density etc. And it will also provide applicable rate on the basis of input provided in the system.

After this a printable job order will appear which will be sent to client for approval. After approval that particular job order will be locked and saved with an authentication like password. This will ensure security of information and accountability of the authorized person. This job order will be sent to the production management department to produce ordered products.

When ordered products are ready to delivery and handed over to sales department to deliver a delivery chalan is prepared under this node of the system. In this chalan, details of product which are ready for delivery are recorded with a status of the delivery.

Another feature of this Node is to record payment with details information about clients and products delivered. This will also provide to generate automated money receipt upon the basis of information provided in the system as input. 

Reporting tools for sales department:

There will be a facility to generate and view report of sales projection for a period. This projection will be available for different kinds of forecasting techniques e.g. moving average, straight line, standard deviation and other applicable tools.

There will be a sales report mentioning date wise sale of KPL for a particular period.

There will be a report for generating sales report by Client ID, by credit period, by sales person, by period.

There will be provision for generating report for daily sales/production/delivery. These reports will include every details associated with it.

These all are based on our observation while visiting your organization and meeting with your concerned executives. It may or can be changed where it is required and with the change of procedure adopted by your organization. As well as it may also be changed at the time of implementation due to making this system more efficient and user friendly.

Human Resource System

MAS HR system automates your human resource processes allowing you to analyze and optimize your employee data from his application to retirement thus making it easier for you to simplify processes, maximize the diversity of your workforce, find out skill shortages and improve workforce engagement.

MAS HR system is designed to manage the HR objectives of an organization. In today’s ever-changing economic environment competent Human Resource Management is crucial for ensuring the overall success of the organization. However the expectations from the HR Department are rising each day, and its functions are not limited to just recruiting, maintaining employee records and payroll processing. MAS Human Capital Management System is designed to manage the HR objectives of an organization effectively.

MAS HR system streamlines the human resource management processes and gives complete transparency into the system thereby reducing costs, increasing employee satisfaction and productivity.  MAS Human Capital Management is fully integrated with the other modules of the ERP system making it a powerful instrument that enables HR and payroll departments to access, process, operate and manage all aspects of the organization’s HR cycle including payroll function.

  • Seamlessly integrated with the other modules of the ERP system
  • Electronic Approval System (EAS) and Employee Self- Service (ESS) facilities help reduce duplication of entries and save a substantial amount of time
  • Dynamic reports and Dash Boards provide clearer insight into organizations resources at any point of time
  • Handles entire Recruitment process, from finding appropriate applicants, short listing candidates, tracking all the levels of interviews and finally hiring
  • Maintains enterprise organizational data in a systematic way even to minute details
  • Web Based system enables employees and management to access the system from any part of the world
  • Time Sheet & Attendance System Interface; fast and accurate payroll processing
  • Fast and accurate payroll processing
  • Features include employee training, accommodation, transport, mess etc.

Now-a-days it is only few small scale organizations in the remote areas that use the manual payroll. Sometimes the construction industry and manufacturing industry also use the manual payroll systems for the contractual labour, as theses contracts are on daily/weekly basis. There is full control in the hands of owner. But the process is tedious, time consuming and risky as it is more prone to errors.

Human Resource is the most vital resource for any organization. It is responsible for each and every decision taken, each and every work done and each and every result. Employees should be managed properly and motivated by providing best remuneration and compensation as per the industry standards. The lucrative compensation will also serve the need for attracting and retaining the best employees.
In today’s computerized environment, payroll system has also developed itself into automated software that performs every action needed by the payroll process. It helps in calculating the payable amounts and deductions very easily. It also helps in generating the pay slips in lesser time. Automated calculations result in no errors. Data is validated automatically by the software. It needs professionals to make use of the software for its efficient working.

MAS’s HR system is comprised of the following essential functionalities:

  • Analysis of Payroll records, payroll taxes
  • Medical claim processing
  • Employee Insurance & Provident fund processing
  • Quality Audit procedures & planning
  • Pensions & Gratuities.

MAS’s HR System will be developed  for  KPL with following Functional Capabilities

  • Captures entire personal detail of employees including Provident Fund and Insurance information.
  • Handles permanent, temporary and contract employees.
  • Maintains their service history from appointment to retirement.
  • Maintains employee categories and ranks within each category, their pay scale and provides linkage to payroll.
  • Captures all sanctioned posts within the organization.
  • Shows sanctioned posts vs. occupied posts for each office or department of the organization hierarchy together with its consolidated information at a glance.
  • Automates personnel management service events such as appointments, transfers, deputation, etc.
  • Provides one touch access to the information of any employee.
  • Provides a variety of MIS reports office-to-office and department-to-department wise.
  • MIS on employee demographics.
  • Automates the generation of payroll (detailed pay slip and pay bill) of all employees by group, department, office or any other hierarchy.
  • Pay slip and pay bill generation processes all kinds of additions such as allowances, deductions such as GPF,
  • Insurance, leaves, medical and other such payroll parameters.
  • Enables MIS information such as total insurance, provident fund or any other allowances of employees.
  • Captures all pensioner information.
  • Maintains pension and gratuity amounts.
  • Role based security
  • Audit trails

Some major Reports for HR department:

  • Salary Report
  • Provident Fund Employee Wise Report
  • Provident Fund Annual Report
  • Loan Report
  • Attendance Report
  • Employee Salary Report
  • Professional Tax Monthly Report
  • Professional Tax Annual Report
  • Provident Fund Monthly Report

More reports will be provided as per user requirements.

Asset Management Module

MAS Asset Management solution is a robust, easy to use, and complete solution which maintains and controls the entire asset lifecycle from purchase to depreciation to disposal. MAS Asset Management solution is fully integrated with the other modules such as Accounting, Procurement of the Enterprise Resource Planning (ERP Software) system.

MAS Asset Management Module provides a real-time analysis of your assets. The performance assessment, maintenance, depreciation and other factors in the life-cycle of an asset are carried out in a highly productive and efficient manner in our system.

  • The highly robust real-time reporting capacity of the system gives a comprehensive overview of the fundamental processes involved to the appropriate user.
  • The usage of paper is eliminated as all the processes involved handled by the system.
  • Data duplication is eliminated owing to the integrated nature of the system.
  • MAS Asset Management software system reduces administrative overheads.
  • Seamlessly integrated with the Accounts and Procurement Modules

MAS Enterprise Asset Management software system is a highly advanced solution that manages all the assets throughout their lifecycle, which is from purchase to depreciation to disposal. This in-depth managing capability reduces the cost factor involved thus improving the performance of the asset.

Easy to Use enterprise asset management solution simplifies the process of user entries. Powerful reporting tools and automated system helps display asset details and eliminates chances of errors thereby improving the efficiency. MAS Enterprise Asset Management also reduces administrative overheads.  

Benefits at a glance

  • Operational and maintenance excellence
  • Continuous and proactive management of operational risks
  • Excellent asset lifecycle management
  • Data-driven decision making
  • Maximum return on assets
  • Minimum administrative overheads
  • Paperless office environment

Managing assets and optimally using and running these investments are the challenges faced by all organizations. MAS Asset Management solution helps your organization manage the whole life-cycle of assets efficiently and helps you in achieving operational and maintenance excellence. This support can help you reduce operating costs, minimize risk, and manage capital expenditures efficiently.

Plant Maintenance Management System

Plant maintenance module in MAS ERP provides with technical and business reports for different work area within the plant, location, Organizational unit, Machines and downtime analysis for each different categories or machines. Preventive Maintenance Schedule and record can be captured. Tracking of Components, Spare part replacements, maintenance warranty claim tracking are easily available to view at one single screen

Excise and VAT Management System

Excise duty is a tax on manufacture or production of goods. Excise Tax is commonly known as Excise Duty. Manufacturer of excisable products is liable to pay this tax and is levied on a wide variety of commodities manufactured in Bangladesh. Excise is mandate for Organization who falls under excise commodity product sales or manufacturing. MAS ERP provides an integrated Excise Module that provides automated information in Excise from the Sales, Purchase and manufacturing module. The data to accounts is posted automatically.

Letter of Credit (LC) Management

MAS Letter of Credit Management system offers on-demand software for managing the Letter of Credit (LC) documentations, submission, and tracking. International business transactions may involve risks. This risk affects both the buyer as well as the seller. Sellers enter into risk when buyers fail to pay for the goods and importers may risk paying but not receive anything. Because of the distances involved, it may be difficult to resolve any disputes.

One way of reducing the risks is to use a letter of credit, as it can offer a guarantee to the seller that they will be paid, and the buyer can be sure that no payment will be made until they receive the goods. In this way, the risk that the buyer will fail to pay is transferred from the seller to the letter of credit’s issuer.

The letter of credit also ensures that the supplier meets all the agreed upon standards and quality of goods. MAS Letter of Credit Management offers on-demand software for managing the lifecycle of LC. 

Benefits at a glance

  • Records the imported budget of items & follow up of its execution
  • Ensure data is mapped accurately and instantaneously to the required documents and minimizing manual data entry
  • Transaction status alerts monitor key events such as latest shipment and expiration dates
  • Reports detailing key performance metrics such as dates and transaction expenses help evaluate the performance of third-parties such as forwarders, carriers, banks, etc.
  • Calculating & distributing of the letters of credit’s expenditure on the items and recalculating cost prices by posting it with inventory receipt transactions
  • Extracting a report of the letters of credit’s cost

Order status and inventory availability information