Cross-module information flow
Improved operational efficiency
Access detailed accounting data
Save time for value adding activities
User friendly, flexible interface
Enhanced decision-making process
Continual system improvements
The system consolidates journal entries auto-generated from various modules of BASSnet and sub modules of BASSnet Financials. It provides extensive standard general ledger functions and reports. Use the account code level report to serve statutory reporting needs, with the ability to provide balance breakdown to variable level for management reporting needs. Also, the Audit Trail and Audit File Generator features fulfil audit requirements.
The Accounts Payable sub-module caters for the expenditure cycle which includes performing purchase invoicing and payment management from invoicing recording to payment settlement through payment, offset or contra processing. The module provides extensive standard accounts payable functions and reports, handles automatic calculation and recognition of realised forex gain or loss upon invoice settlement, and allows you to perform balance revaluation for foreign denominated supplier balances with auto calculation on unrealised forex gain or loss.
The Accounts Receivable sub-module enables you to perform revenue invoicing and collection management, from invoicing recording to collection settlement through collection and offset processing. The module provides extensive standard accounts receivable functions and reports, handles automatic calculation and recognition of realised forex gain or loss upon invoice settlement, and allows you to perform balance revaluation for foreign denominated customer balances with auto calculation on unrealised forex gain or loss. Also, use the recurring revenue template to handle routine billing creation.
With the Fixed Asset sub-module, you can automatically track a list of business owned assets with details using the fixed asset register. You can also automatically generate asset depreciation based on the defined depreciation method and useful life. The sub-module also caters for recording of asset movement entry and provides standard fixed asset functions and reports.
BASSnet Financials’ Reporting sub-module is a report platform for users to set up reports with MS Excel report templates. Users can upload pre-defined report templates in MS Excel and use the row and column structure setup in the system to map and populate the required account balance into the Excel templates.
Use the E-Banking File Configurator to set up a pre-defined file format based on bank specification requirements. In addition, the e-Banking File Generator enables users to create E-Banking output files with required bank payment details. The E-Banking Import Adapter is also available to import actual payment details for the system to complete the E-Banking Payment entry while automatically updating confirmation details, before auto-creating the payment’s journal voucher.
Ready-made integration adapters are available to import or export data. The Register Adapter allows users to import register data and exchange rates into the BASSnet database. The JV Import Adapter lets you import journal voucher information for journal voucher entry creation. Using the E-Banking File Generator, generate outbound file with payment transactions to a pre-defined E-banking file format as per the system configuration set up, for upload into the bank portal. Use the E-Banking Import Adapter to import bank payment details to complete payment confirmation.
BASSnet Financials enables you to retrieve automatically pre-defined exchange rates for transaction conversion and for balance translation from Transaction to Base and Reporting currency area. The system also uses multi-currency accounting to seamlessly handle transaction conversion with auto-calculation on forex gain or loss.
Benefit from default posting setup to define the default accounts for sub-module entry to auto complete the journal entry generation. Gain flexibility with user definable odometer numbering, user definable variable setup, and user personalisation on query filters and report layouts. You also control the chart of account for main, corporate and country, with Account Hierarchy to define account grouping and structure by hierarchy.