IMS Financial
Built upon strong management and financial tools from budgeting and general ledger to vendor management and reporting, IMS Financial is a complete integrated financial solution enabling the deployment of effective financial processing to deliver convenient, secure and efficient campus auxiliary services to students, faculty and staff. It enables reusability of forms and sharing of content, which can be easily and securely accessed from a central database.
IMS Financial module functionalities are consists of:
Budgeting
Budgeting module is the basis for almost all financial activities. Purchasing, overtime payment, travelling claims, stationary request and petty claims is checked against budget balance. The budget structure is tracked according to account type, cost center and account code. Virement between funds can also be done by approval and is limited to the budget balance of the transferring funds. Managers may monitor the movement of the budget for future planning.
Purchasing
Purchasing module starts with vendor management where the vendor information and job scope registration is maintained. Errant vendors can be blacklisted. The purchasing process starts with purchasing request from each cost center and approved by the head of department. Any purchase must be within the cost center budget and it is automatically checked by the system. Upon approval, purchase order will be created and approved by IMS Finance system. The order will be printed and sent out to vendors.
Account Payable
Account Payable module manages payment by the institution to its vendors and staff. It also keeps records of the receipt of goods purchased and vendor invoices as well as vouchers from subsystem e.g. payroll, advance claim and travelling claims. Voucher is prepared through this system and bank transactions can be imported for reconciliation. This system also manages the petty cash for each cost center.
Account Receivable
Account Receivable manages payments from customers. Finance officer will be able to view students' invoices and create other types of invoices. Upon payment, receipt will be created and printed and the invoice knocked off. It also record payment from sponsor and knock off students' invoices. Aging reports can be printed for credit management analysis.
Inventory
Inventory module manages inventory item. Starting from setting up the store until distribution of store item.
Fixed Asset
These module main functions are to register and manage fixed asset records. It also capable to calculate depreciation based on straight-line method.
General Ledger
These module main functions are to keep all entries from all subsystem and also producing financial reports such as Trial Balance, Balance Sheet, and Profit and Loss.
Salary Processing
The Salary Processing system manages the data that relate to staff payroll processes such as bank account, EPF account, Tax account, allowance, deduction and overtime payment. The system allows user to maintain their income information and update the staff allowance and deduction from time to time. The system simplifies the payroll processing by doing all processes and calculation until it gets the net salary for each staff. The system allows staff to view the monthly payroll online. Details and summary payroll reports are also provided. The system also allows users to retrieve all payroll details for previous months and years.
Student Financial Info
Manages student invoices and keep track student ledger.