MYACCOUNT

Myaccount is one of the software packages of WOLKE Business Suite which consists of many business solutions. Myaccount is an activity-based cost accounting package (ABC Accounting), document-driven software, using the latest technology, covering the major requirements of small to medium organizations (SMES). Myaccount is adaptable to different business & commercial industries. It covers the basic functionalities of the following modules:

  • General Ledger
  • Expenses & Payable
  • Trading & Receivables
  • Inventory

In addition there are many other business solutions of WOLKE Business Suite that can be incorporated with Myaccount as an optional add-on:

  • mystaff
  • mysales
  • mypurchase
  • myassets
  • mytime
  • myledger
  • myinventory
 

MODULES & SPECIFICATIONS

Myaccount’s General Ledger module records/maintains all the financial transactions generated by any document raised in the system. It is a full- fledged Activity-Based Cost accounting (ABC) ledger that has:

  • Unlimited segments of chart of accounts
  • Unlimited accounts
  • Unlimited account analysis
  • Unlimited projects and profit centers
  • Unlimited cost centers.

Customer/Vendor Sub-Ledger

Myaccount General Ledger has fully fledged built-in vendor/customer profiles linked to its sub-ledger with the following features:

  • Auto posting to General Ledger
  • Activity-based statement of accounts

Financial Reporting & Inquiries

Myaccount General Leger has a built-in inquiry and reporting system that allows the retrieval of any information required at any time. Myaccount compiles all reports under six major categories:

  • Balance sheets
  • Income statements
  • Cash flows
  • Trial balances
  • Account statements & others

Expense Management

Myaccount payable module maintains all payable details under two main functionalities. These functionalities are:

  • Invoices Register
  • Payments Voucher Register

Payment Vouchers Management

Myaccount Payment Vouchers register maintains and records all payments in any form, be it cheques, cash, bank transfer etc. and post the related entries in an activity based cost accounting methodology to the sub-general ledger and General Ledger. The following are the main features of the register:

  • Payment voucher register
  • Physical archiving of related scanned documents
  • Automatic posting of all accounting entries
  • Payment voucher & related payment form printing

Invoices Management

Myaccount invoice register maintains and records all expense invoices and posts the related entries in an activity-based cost accounting methodology to the General Ledger. The main features of the invoice register are as follows:

  • Invoices register
  • Physical archiving of related scanned documents
  • Automatic posting of all accounting entries

Accounts Payable Reporting & Inquiries

Myaccount Accounts Payable has a built-in inquiry and reporting system that allows retrieving any information required at any time. Myaccount compiles all the reports in three major categories:

  • Invoices register
  • Payment Vouchers Register
  • Vendors & Aging Reports

Trading Management

Myaccount Trading module maintains all Trading deals whether they are services or inventory under two main functionalities. These functionalities are:

  • Invoices Register
  • Receipts Register

Invoices Management

Myaccount Invoice register maintains and records all sales invoices (inventory & services), updates the inventory online and posts the related entries in an activity-based cost accounting methodology to the General Ledger. The following are the main features of the Invoice Register:

  • Invoices register
  • Physical archiving of relatedscanned documents
  • Inventory update
  • Automatic posting of all accounting entries

Receipts & Credit Notes Management

Myaccount Receipts & Credit Notes register maintains and records all refunds and payments received in any form, e.g. cheques, cash, bank transfers, etc. and posts the related entries in an activity-based cost accounting methodology to the sub-ledger and the General Ledger. The following are the main features of the register:

  • Receipts register
  • Credit notes register
  • Physical archiving of related scanned documents
  • Automatic posting of all accounting entries
  • Receipts & related payment form printing

Reporting & Inquiries

Myaccount Trading module has a built-in inquiry and reporting system that allows retrieving any information required at any time. Myaccount compiles all reports in three major categories:

  • Invoice Register
  • Receipts Register
  • Customers & Aging Reports
  • Customer Statements

Inventory Management

Myaccount Inventory module maintains and records all the inventory items, their classifications, stores, storage packs, sales packs, country of origin, code, bar code, etc. The following are the main features of the Inventory module:

  • Invoices Register
  • Receipts Register

Invoices Management

Myaccount Invoice register maintains and records all sales invoices (inventory & services), updates the inventory online and posts the related entries in an activity-based cost accounting methodology to the General Ledger. The following are the main features of the Invoice Register:

  • Inventory Categorization
  • Inventory Stores & Locations
  • Product Definition & Features
  • Inventory Control & Setup

Inventory Master File Management

Myaccount Inventory Master File controls and registers all inventory items and maintains all the movement of the inventory transactions based on three major methodologies FIFO, LIFO and Weighted Average, and it posts all related accounting entries to the General Ledger. The main functionalities are:

  • Inventory Master File
  • Inventory Addition & Deduction Register
  • Delivery Notes Register

Inventory Addition/Deduction Register

Myaccount Addition/Deduction register maintains and records all inventory movements and posts the related entries in an activity-based cost accounting methodology to the General Ledger. The following are the main features of the Addition/Deduction Register:

  • Addition register
  • Deduction register
  • Physical archiving of related scanned documents
  • Inventory update
  • Automatic posting of all accounting entries

Inventory Delivery Notes Register

Myaccount Delivery Notes register maintains and records the entire Inventory Deliveries and posts the related entries in an activity-based cost accounting methodology to the General Ledger. The following are the main features of the Inventory Delivery Notes Register:

  • Delivery notes register
  • Physical archiving of related scanned documents
  • Inventory update
  • Automatic posting of all accounting entries

Business & Account Structure

Myaccount provides a user defined business and account structure. Myaccount classifies the Business & Account Structure setup under the following:

  • Companies Setup
  • Activities Setup
  • Cost Centers Setup
  • Analysis Setup
  • Accounts Setup

Security & Setup

Myaccount Security & Setup module provides a user-defined framework regulating the setup and control of Myaccount system in a very user-friendly and totally parameterized way. Myaccountclassifies Security & Setup under the following:

  • Security Setup
  • Business Structure Setup
  • Account Structure Setup

Security & Control

Myaccount Security & Control module provides a very flexible, easy to use system to setup and control users and define their functional rights. Myaccount provides the following features to control the system:

  • User definition
  • Menu right
  • Read/edit/delete right
  • Reports right

General Features

  • Integrated with Windows password
  • Central locking
  • User defined access
  • Modular security
  • Data stamping
  • Audit trail
  • Access security

Inventory Delivery Notes Register

Myaccount Delivery Notes register maintains and records the entire Inventory Deliveries and posts the related entries in an activity-based cost accounting methodology to the General Ledger. The following are the main features of the Inventory Delivery Notes Register:

  • Delivery notes register
  • Physical archiving of related scanned documents
  • Inventory update
  • Automatic posting of all accounting entries
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