EPRO Business System
The EPRO Business System (EBS) is a set of fully integrated accounting system comprising of:
- Accounts Receivable
- Accounts Payable
- General Ledger
- Cash Book
- Financial Report Writer
- Job Costing
- Purchase Order
- Inventory Management
The system is cloud-based, and can be accessed directly through the browser.
The accounting system caters for three (3) financial years, Last Year, Current Year, and Next Year, with each year having thirteen (13) accounting periods to facilitate 4-week accounting cycle. The last period could also be used for Audit Adjustment purpose for companies using only twelve (12) accounting periods. With the three (3) financial years feature, the user does not have to wait for audit confirmation to proceed with the new financial year. In fact, the user could be posting transactions to both the Current and Next financial year at the same time.
The EBS provides an unique Job Costing system within the various accounting modules such that no duplication of entries is required to utilize the Job Costing features. Job Costs and Revenues are recognized only upon job start or job completion (the user has to define one method during the initial setup). The user simply charges to the appropriate cost or revenue accounts. If the charges are for jobs in the future periods, the systems will automatically reverse such charges to the advance cost or deferred income accounts during the Month-End process. In the period when the jobs are recognized, these advance costs and deferred incomes are again automatically reversed to the original accounts. This will free the user from having to remember jobs recognition dates, and the appropriate accounts to charge to during data entries.
The EBS has three (3) Reference fields for all transactions in the Accounts Payable, Accounts Receivable and General Ledger that could be tagged against any transaction. These have been used by shipping companies to track disbursement against Voyage, Vessel and Port of Call.
Transactions entered into the system are maintained for as long as the user requires, depending on the capacity of the disk. Posting is done on a transaction or batch basis, and the chart of accounts is updated immediately. Errors discovered after posting, eg. wrong accounts charged, wrong amount, typo errors, can be corrected by ‘unposting’ the transaction involved. This eliminates the needs to pass adjustment entries. However, once the Month-End process is done, the transactions cannot be ‘unposted’, and errors discovered subsequently can only be corrected through adjustment entries.
The EBS caters for foreign currency transactions. The currency amounts are entered and are converted to the local equivalent, and updated to the chart of accounts upon posting. Exchange gain/loss (realized) is calculated during the Month-End process, and is passed automatically by the system, saving much tedious work for the user.
The system allows contra of accounts between AP and AR within the same Payment Voucher or Receipt Voucher transaction. The users do not have to pass additional transactions to effect the contra.
A Daily and Monthly Bank Position reports are available to assist the user in managing the Cashflow for the company.
The Payment Vouchers can be created automatically based on the Cash Requirement Report.
The EBS is a flexible system that can be integrated to other front-end systems. The following integration has been created from EBS:
- Abacus Air-Ticketing System
- Point-of-Sales System
- Magazines & Books Distribution System
- Disbursement System
- Medical Claims Proration System (used by the Singapore Government)
- CPF Board
- Property Management System
Epro Business System (AP, AR, GL, Cash Book, Job Costing and Report Writer)
- 26 accounting periods
- 3 Financial Years, namely, Last Year, Current Year, and Next Year
- Security controls up to function level within the screen
- Handles multi-currencies for all modules
- Automatic calculation of Exchange gain/loss during the Month-End process
- Printing of invoices through the Customer Invoice screen
- Built-in Job Costing module
- Ability to ‘unpost’ a transaction to rectify errors before the Month-End process
- Contra of accounts between AP and AR
- Generation of Payment Vouchers based on Cash Requirement Report
- Printing of cheques
- Daily and Monthly Bank Position Reports
- Statement of Accounts can be printed even for previous months
- Facilities to cancel Cheque and re-instate the Supplier Bills
- Bank Reconciliation
- User-defined Financial Reports
- Ability to ‘suspend’ a supplier and stop payment
- Full compliant for Goods and Services Tax, with Supporting Reports
- Maintaining Bank Balances in the respective foreign currencies of the Bank Account
The EBS Inventory module supports multiple locations and provides up-to-the-minute stock status of individual inventory items. Stockable items are tagged against location, and bin, with definable Minimum, Maximum and Reorder level. Stock can be tracked through Batch/Lot control with expiry date, and issued with the earliest expiry date. To facilitate easy analysis the user can breakdown the product by division, department and product classification. It currently supports weighted average costing.
- Goods Receipt against Purchase Order, Stock Transfer or Direct Receipt
- Stock Write-on / Write-Off
- Stock Issues based on Expiry Date with Batch/Lot Control
- Transactions Listing
- Stock Status
- Stock Movement
- Stock Take Variance
- List of items below Minimum/Maximum stock
EBS Purchase Order module saves time, help to reduce paper work and clerical effort, leading to increased user productivity, and lower administration costs.
You can create purchase order quickly and send the purchase order via email to the supplier by attaching any additional supporting documents as needed. EBS tracks open purchase orders and easily recalls a list of purchase orders for any item or for any vendor. You are immediately informed of all outstanding items through reports sorted by vendor or item.
You can negotiate the best terms and save money with complete purchase and receipt histories.
- Maintenance of comprehensive vendor database with location specific detail with default prices, vendor contact details
- Facility to raise direct PO reducing lead time
- Facilitate generation of PO when the Reorder level or Min level is reached in inventory
- List of Outstanding PO
- Purchase History by Vendor
- Purchase History by Inventory Items