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The Accounting modules support both cash and accrual accounting. All Accounting modules adhere to GAAP and are structured by function, to be intuitive to a user who is familiar with the basic Accounting concepts as (Assets + Liabilities = Equity) and double entry Accounting, Journal and General Ledger entries as well as Financial Statements. The structure of the program is simplified based on Accounting 101 for intuitive use. Refer to Figure #1 bellow for a visual explanation of the basic functions. Detailed explanation of every function in provide in the help section of the system. The Main Menu provided is a restaurant like menu for the user to select the function needed. To minimize the overwhelming impression of the many menu choices a higher level menu is provided based on a typical transaction flow. This Navigating menu is based on the direction of the Accounting Processes from purchasing inventory, account for the liability selling products or and value to them before selling them to customers. The Purchasing, Inventory, Production and Sales modules are seamlessly integrated to the Company, Tools and User manual modules. The transaction flow is based on the intuitive concept of:
o Crate and maintaining a Company Name and profile and Chart of Accounts.
o Create a PO to purchase products from Suppliers.
o Receive products according to the PO with vendor Bill. Upon receiving the ordered products the system;
o Adds them to Inventory on hand.
o Creates a Liability entry in the Accounts Payable General Leger account for the Balance Sheet. The system includes standard accounting modules to;
o Complete a Sale of Inventory Items and Services to Walk in Customers or Clients,
o Automatically creates a Sales Order/Invoice for the customer; to
o Remove the Inventory from on hand and add it to customer invoice while automatically;
o Creates an Accounts Receivable asset entry in the Balance Sheet and
o Adding the sale and cost of goods sold transactions for the product sold to the General Ledger for the Financial Statement.
o The system provides for easy receipt of customer payments by updating Accounts receivable and the Cash on hand or Cash in Bank Accounts.
The Production Management modules that include Bill of Material and Work Station Cost Center are totally integrated to the Accounting modules but need not be used by those who have no cost accounting needs (a need to calculate the cost of Finished Product). The system supports multiple customer accounts and if Access Data base is used the system provides for downloading of the data for local safe keeping and uploading to the cloud when and if needed.
The demo account includes a typical Chart of Accounts that you can change to your specific likes. If you are not an experienced Accountant you are encouraged to limit you changes to Account Names but not Account Numbers. Detailed help (by Accounting and Production Management module) is provided in the help section of the program. www.panagiot.com This has been design by Joey M. Eugenio . Modified by A.H.Panagiot and Powered by SIMCOM
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