Welcome To Ascomp Technologies

What do we mean by Chart Of Accounts in Reckoner?
Answer. Chart of Accounts is just like tree structure of levels of accounts , For e.g. if we typically look at a ledger account of packing machine , we can group it under the heading machinery , which in turn can be Grouped under the heading of Plant And Machinery , Since the group Plant and Machinery forms the part of Fixed Assets of the company , hence can be classified into main Category Assets. Thus this kind of branching can be represented in some what following way:
Assets
Fixed Assets
Plant And Machinery
Machinery
Packing machine Ac.
Account Chart gives you Birds view of how accounts are grouped from the final statements point of view, While creating your own Chart of accounts user should always keep final Statements in mind , how he would like his final statements to get effected. Default groups viz. ( Assets, Expense, Liability, Income ) are already provided which the user cannot modify or Delete.
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What do we mean by Groups in Reckoner Chart Of Accounts?
Answer. We all know what term 'Group' means by its literal meaning , In 'Reckoner ' We have extended this definition to a broader level, in the sense that here you can group any number of accounts under one group termed as leaf groups. In Reckoner , further more you can group any such leaf group under another group and likewise ,build your Chart of accounts. Any new group has to belong to any one of four default group i.e. it has be a child of these default groups or groups created under them. Groups with Same name are however not allowed . Assigning of parent for new group is mandatory. Under the Group there can either be all Groups or all Accounts. Group under which accounts are created is defined as leaf group .This means Once an account is created under a particular group no further sub groups can be defined for that group.
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Can we delete Accounts and Groups of Accounts?
Answer. The User can delete a group under which no Accounts are created. But once the user creates an Account under group then neither the group nor the Accounts can be deleted.
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How do we create Chart of Accounts?
Answer. You can create your chart of accounts by creating groups under the default parent groups, I.e., Assets, Expenses, Liabilities & Income, e.g.,
Assets
Fixed Assets
Plant And Machinery
Machinery
Packing machine Ac.
Note: If the user wants to create a new group then he has to either select any of the four default groups or any group under these default groups and press add button .After giving a unique name to the group the user can save this information by clicking the save button.
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What all functions can we perform with the Groups I Reckoner Chart Of Accounts?
Answer. We can perform following functions on the groups of the chart of accounts in Reckoner: We can-
Move Groups
Modify Groups
Delete Groups
Create Accounts
Modify Accounts
Note: - Any of the operation mentioned above will available to the user only if he has access permission.
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Can we move Groups in Reckoner Chart of Accounts under another group?
Answer. You can move any group except default groups to any group but within the purview of the Default ancestor group ,for e.g. any group under Assets can be moved to any other group under assets only , it cannot be moved to any group under income or liability or expense and vice versa. Also you can move a group only to a group which is not a leaf group.
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How can we move the Groups in Reckoner Chart Of Accounts?
Answer. Left side of the Chart Of Accounts screen [Path:--> File--> Definition--> Finance--> Chart Of Accounts] shows the default four groups and subgroups under them in a tree type structure. For moving any group select that group from the treeview. On the right hand side of the screen the details like the name of the group and the name of the parent group are shown .For moving the group change the parent group of the group selected.
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Can we modify a Group in Reckoner Chart Of Accounts?
Answer. User can change the name of the existing group. Hence the user can modify the Groups in Reckoner Chart Of Accounts.
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How can we change/modify a Group in Reckoner Chart Of Accounts?
Answer. Left side of the Chart Of Accounts screen [Path:--> File--> Definition--> Finance--> Chart Of Accounts] shows the default four groups and subgroups under them in a tree type structure. Select the group whose name you want to change and give it any unique name in the name field in the right frame and then save the information.
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Can we delete a group in Reckoner Chart Of Accounts?
Answer. User can delete any group (Except The default groups viz. Assets, Income, Expense, Liability ) .Before deletion you will be prompted for confirmation .There are some prior conditions which have to be satisfied before any group is deleted. They are :
1. The group that you want to delete should not have any accounts defined under it.
2. The group should not have been referenced in voucher definition.
Note: If any group that is deleted has subgroups defined under it then these subgroups will shift one level up which means that the parent group of these subgroups changes to one level up.
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How can we delete a group in Reckoner Chart Of Accounts?
Answer. Left side of the Chart Of Accounts screen [Path:--> File--> Definition--> Finance--> Chart Of Accounts] shows the default four groups and subgroups under them in a tree type structure.
Let us consider the following tree, Expensesà Traveling Expensesà Directors traveling Expense A/c. Say you want to delete the group Traveling Expenses. Select this group in the tree view and then as mentioned earlier the details if this group will be shown on the right hand side of the screen.
Press delete to delete this group.
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Where do we create an Accunt in Reckoner Chart Of Accounts?
Answer. Account can be created at any level .It could either be created under any of the four default group if no subgroup has been defined or under any subgroup if again that is the leaf group. If an account is created under a group then that becomes the leaf group and no further subgroups can be defined at this level.
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How do we create Accounts in Reckoner Chart Od Accounts?
Answer. Left side of the Chart Of Accounts screen [Path:--> File--> Definition--> Finance--> Chart Of Accounts] shows the default four groups and subgroups under them in a tree type structure.
Select the leaf group under which you want to create an account, following screen will be shown. Select the Accounts tabpage and press add button. While creating an account the user has to enter the following information for the new account: Account name, opening balance, account type, party reference. After filling in the information press save button. Whenever any account is created the status of that account is set open, which means that transaction can be made with this account.
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Can we modify an Account in Reckoner Chart Of Accounts?
Answer. Before any account can be modified one prior condition has to be satisfied : That account should not have been referenced in voucher definition. If this condition is satisfied then the following information can be changed. Name of the account, type of the account, party reference. In any case name and status of the account can be changed but the opening balance of the existing account cannot be changed. Changing the account status to restricted would restrict any further transaction to take place with that account.
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How can we modify an Account in Reckoner Chart Od Accounts?
Answer. Left side of the Chart Of Accounts screen [Path:--> File--> Definition--> Finance--> Chart Of Accounts] shows the default four groups and subgroups under them in a tree type structure.
Select the group under which that account is defined. On the right hand side all the accounts under that account are shown .Select that account you want to modify and after making the changes save the information.
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Can we move an Account in Reckoner Chart Of Accounts?
Answer. As in case of groups any account can be moved to any group provided the destination group is the leaf group.
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How can we move an Account in Reckoner Chart Of Accounts?
Answer. Left side of the Chart Of Accounts screen [Path:--> File--> Definition--> Finance--> Chart Of Accounts] shows the default four groups and subgroups under them in a tree type structure.
Select the account from the treeview that you want to move. On the right hand details of that account will be displayed along with the parent group under which that account exists. For moving that account change the parent group of that account to the parent group under which you want that account to be.
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Can we delete an Account in reckoner Chart Of Accounts?
Answer. Before deleting any account there are some prior conditions that have to be satisfied. They are:
1. That account should not have been referenced in voucher definition, which means no transaction should have been made with this account.
2. Current balance of that account should be zero.
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How can we delete an Account in Reckoner Chart Of Accounts?
Answer. Left side of the Chart Of Accounts screen [Path:--> File--> Definition--> Finance--> Chart Of Accounts] shows the default four groups and subgroups under them in a tree type structure.
Select the account from the treeview which you want to delete , on the right hand side of the screen information for that account will be displayed. For deleting that account press delete , you will be ask for confirmation and if the user says yes information will be saved.
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Does budgeting module support all budgets? Capital, expenditure, sales, man power?
Answer. Yes.
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Does budgeting module support revision in budget, by retaining the older version?
Answer. Yes.
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Can we capture suppliers invoice amount in the bill passing module ? Thus any difference between the suppliers amount & our bill passing amount can be attributed to particular reason. E.g short receipt of material/ rejection etc. & these reason codes can be printed on the payment advice.
Answer. Yes supplier invoice is captured. Bill passing will match GRN's, any difference in supplier amount and bill passing amount can be adjusted and the remarks column used to enter the reason.
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Is Balance confirmation letter along with annexure in standard format - for suppliers & customers?
Answer. Yes available. Annexures might need to be customised depending upon requirement.
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Is Reminder letter/ A/R followup letters alongwith annexure?
Answer. Yes.
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Can we disable a party ? (supplier/ customer)?
Answer. Yes.
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Can we disable a G L Code? (supplier/ customer)?
Answer. Yes.
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Can a party be both - Customer & Supplier?
Answer. Yes.
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Financial Transaction

What all can we do with vouchers in Reckoner financials?
Answer.

Vouchers,
Voucher Definition,
Voucher Entry,
Voucher Authorization/ Rejection,
Voucher Modification,
Voucher Cancellation,
Voucher Re-Submission,
Voucher Posting,
Voucher Printing,
Recurring Voucher

What do we mean by a Voucher?
Answer. Voucher is the elementary document to record a transaction. In this system it is the only way through which you can enter a transaction.
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What is the use & significance of the Voucher Definition?
Answer. You can define a new voucher or transaction type through this option. This allows you to create, modify voucher types to suite your accounting needs. Any number of voucher types can be defined in the system. Some standard voucher types are available in the system like:-->
Cash Payment Voucher,
Cash Receipt Voucher,
Bank Payment Voucher,
Bank Receipt Voucher,
Sales Voucher,
Sales Return Voucher,
Purchase Voucher,
Purchase Return Voucher,
Journal Voucher.
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How do we define Vouchers Voucher Definition in Reckoner financials?
Answer. A Voucher or a Transaction type can be defined in the system as an entity on the basis of which the financial transactions will be recorded. Voucher Types can be defined through Account Definition Wizard Under Tree Item Voucher Definition. The following are the main parameters which are to be specified at the time of voucher type definition:--

Voucher Type
Voucher Name
Voucher Purpose (Optional)
Associated Journal Name
Voucher Initiator
Voucher Main Account/Group (Optional )
Voucher Priority
Voucher Information (Optional)
Voucher Amount (Optional)
Voucher Authorization (Optional)
Voucher Receipts

Can we capitalise expenses incurred for installation of fixed assets?
Answer. Yes.

Can we book a partial sale of a fixed asset?
Answer. Yes.

What are the methods available for depreciation?
Answer. Straight Line & WDV. Upto 3 types of depreciation available simulataneously and system can give asset value as per all the 3 deprectaions.

In fixed assets can we book CWIP?
Answer. Yes.
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Does the system provide for transfer of CWIP to capitalisation?
Answer. Yes.
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Suppose we have Chairs as a fixed asset with Item code X. Now this year we plan to purchase another 50 chairs. In such case are we required to generate another item code Y or can we purchase those chairs on the old number X ?
Answer. Yes, old item code can be used (recommended).
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Does system take care of calculating profit/ loss on sale of assets?
Answer. Yes.
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Does system take care of transit insurance accounting?
Answer. Yes, can be treated as charges distributed product wise.
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Can we generate cashflow forecasts?
Answer. Yes.
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Can we have budget vs actuals comparison?
Answer. Yes.
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Can we get ratio analysis with custom defined ratios?
Answer. Yes.
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Is there any facility to transfer fixed assets from one location to other?
Answer. Yes.
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Can we write off of asset?
Answer. Yes.
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Cost Accounting

What does Reckoner Cost Accounting system aims at?
Answer. Reckoner Cost accounting system aims primarily to serve the information needs of management for planing, control and decision making. It is a system that accumulates costs, assigns them to cost objectives, i.e. products, jobs, processes, etc. and reports cost information. It helps in determination of product costs, facilitates planning and control of regular business activities and supplies information for short and long run decisions.Reckoner cost accounting system supports various methods of costing such as job costing, batch costing, process costing etc. Organizations may be able to choose the appropriate costing system, depending upon their type of industry and manufacturing process. This system allows definition of cost centers in a hierarchical structure. Users can allocate costs to these cost centers by using cost documents for different cost transactions. These cost documents are often automatically generated because of its tight integration with other Reckoner modules. This system also allows identification of costs under different cost heads such as direct materials, direct labour etc. Optionally costs can also be tracked for different activities to accommodate activity based costing.
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How many Cost systems can be defined & allocated to a Company?
Answer. Multiple cost systems can be defined for the whole enterprise. They can be also allocated to a company, which signifies the usage of cost system in that company. However, only one cost system can be allocated to a company.
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What do we define in Cost Center Group Definition?
Answer. This function allows definition of cost center groups. These groups are used for classification of cost centers and further help in summarization of costs. This function allows defining hierarchical structure for cost center classification.
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What do we define in Cost Center Definition?
Answer. This function allows defining cost centers for a company. A cost center is defined as a location, person, or item of equipment (or group of these) for which costs may be ascertained and used for the purposes of cost control. A cost center is organization segment or area of activity for which it is desirable to accumulate costs. This module allows definition of cost centers, which are permanent in nature such as accounting department, Production process stage 1, Factory Lighting etc. However, in different periods there may be temporary cost centers such as Expansion project etc. A cost center cost may or may not be directly allocable to the products. If yes, this function also allows definition of allocation of costs to the products. For this purpose, the products must have already been defined in the sales module. In some cases exact costs can be traced to the products directly from the cost documents. However, this is possible only in cases of direct materials and labour cost. All the indirect costs must be allocated on percentage basis to different products.
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How much Cost can be allocated to a Product?
Answer. Costs of cost centers can be allocated to one or many products; however, costs can not be allocated to products more than 100%. Less than 100% of costs can be alocated to the products.
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What do we define in Cost Head Definition?
Answer. This function allows definition of cost heads, under which costs can be identified. The various cost heads can be defined such as direct material, direct labour, factory overheads etc. Other module posts the costs originating from their modules correctly to different cost heads. A material module allocates costs of goods issue as direct material cost if issue is against production order or a project. For other issues such as maintenance, consumption etc. allocation is done as indirect materials.
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Can we allocate common expenses to multiple companies based on predefined percentage?
Answer. Since each company is treated as a different legal entity, the transaction within one legal entity will not directly affect the transactions in other legal entities. For costing purposes feasible by allocating to those cost centres and seeing a consolidated costing report for transactions in a single databse but units defined as different companies.
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Can we generate cashflow forecasts?
Answer. Completely online on an actual cost basis.
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Voucher

What is the concept of debit credit transaction entry in Voucher Entry in Reckoner financials?
Answer. Any number of transactions can be entered through Voucher Entry. If the main account for the voucher is specified then only one side of entry debit or credit will be made in the transaction. The account(s) specified in the transaction has to be different from the main account. The debit/credit will be set opposite to the one specified for the main account. If there is no main account then the entries for both debit or credit can be made in the transaction. The transactions can also be entered in foreign currency. However in case of journal voucher foreign currency transactions are not allowed. The total debit amount has to match with the total credit amount.
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What is the concept of voucher posting?
Answer. We first make a voucher entry. The voucher thus entered is posted in the ledger if there is no authorization associated with it. If the voucher is to be authorized then it is kept in the system with the status pending for authorization.
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How can we make a voucher entry?
Answer. The left side of the Voucher Entry screen [Path:--> Finance--> Voucher--> Voucher Entry] displays the list of all voucher types defined in the system. The interface is in the form of tree where the user can select the Defined voucher type and the information for the same type of voucher is displayed on the tab. General tabpage is provided to enter necessary details while for initiator's comment and references different tabpage is provided. The vouchers entered through this screen are either posted in the ledger if no authorization is required, Otherwise the vouchers remain in the system with the status waiting to be authorized. The Values for the Main account ,Voucher Information Fields, Amount Range, Serial Number Type are picked up from the voucher definition. The user can enter any number of transactions in a particular voucher.
A dialog box opens in case of saving a voucher with foreign currency. In case of foreign currency vouchers the foreign currency is to be converted to the base currency before saving. In this dialog box the most recent rate with respect to the voucher date is fetched from the currency rate table . The user then has the option to use buy, sell or mid rate. He can also edit it and can also enter a new record in the currency rate table. The final rate is then used to convert the amount in the voucher.
Voucher Serial No. is generated on the basis of voucher date and according to serial no. definition. In case of Future Date Vouchers Serial no. is not assigned according to Serial no. definition at the time of entry, till its posting a temporary running sl. No. is assigned. A voucher can not be entered in a date if the same type of voucher exists with a date after the specified date.
Click on 'OK' to save the voucher. Before saving, if the voucher amount lies outside the specified range as defined in the voucher definition, the 'Voucher Amount' dialog box opens prompting the user for confirmation. The user can then choose to continue after entering comments or return to the voucher transaction to change the amount. It is mandatory to enter comments in case he wishes to proceed. If the comments have been added then comment field of the voucher is also set to the same comment. After validating all the fields, the voucher serial no. is assigned to the voucher type of the Serial No. will be taken as specified in the voucher definition. After assigning serial no. 'Save' dialog box opens.
Click on Cancel to Refresh the Window without Saving Voucher.
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What is the use and significance of Voucher Browser?
Answer. This screen is used for all Voucher Process like View, Authorizing, Modifying, Rejecting, Resubmitting, Canceling, Printing and Making Recurring Vouchers. Depending on the status and permissions of the current User these options get enabled or disabled. Through this screen you can view a particular type of vouchers with their particular status or all vouchers irrespective of their status. Different Color coding schemes are applied to recognize vouchers of different status. Besides color scheme different text styles are also applied. All pending vouchers are shown in Italics while all posed in Normal and rest in Bold.
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Explain the concept of Voucher Authorisation / Rejection?
Answer. Authorizer's List is generated separately for each and every voucher according to specified Voucher type definition at the time of voucher entry depending on Initiator's Designation. If the Initiator is not in the authorizer's list then the order and number of authorizers remain the same according to current definition. But if the initiator exists some where in authorizer list then all the authorizers before him in order but below in designation removed. To Authorize a voucher click on your name in the authorizers list you will get a popup window with four options -
Authorize Voucher
Reject Voucher
Sent For Review Before Authorization
Sent For Review After Authorization

Only the pending vouchers for the currently logged on user are available for Authorization. The current authorizer while authorizing can modify the voucher transaction details except the voucher date. While authorizing he can sent the voucher for review to any other valid user before or after he authorizes it. In case of rejection, the voucher goes back to the initiator who then resubmits the voucher for the same process of authorization. The voucher is posted in the ledger if it has been authorized by all the specified users. In case of authorized vouchers with future dates the voucher is kept in the system with the status 'Waiting to be Posted' and is posted in the ledger through a batch process as and when its date comes.
Authorization Review screen is opened in case of voucher authorization when the user wants that particular voucher to be reviewed by somebody else before or after he authorizes it. This Screen provides him the option to select any valid user/s and add them in the voucher authorization list before or after his name as the case may be.
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Who all can modify the Voucher?
Answer. Only Valid Reckoner User has the permission (if provided) to modify a Voucher.
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What is the procedure of Voucher modification?
Answer. Only Valid Reckoner User has the permission (if provided) to modify a Voucher. The process of modification of a voucher varies according to current status of the voucher. Pending Vouchers are available for modification only to current authorizer through Voucher Browser Window. Similarly Expired and Rejected Vouchers are available for modification only to their Initiator through Voucher Browser Window . For Pending and Canceled Vouchers modification a different menu item is provided called Voucher Modification under Accounts. Vouchers modified through this interface gets posed to ledger directly. A voucher can be changed any number of time. But the Serial No. of the voucher remains the same. Each and every information in a voucher can be modified except Voucher Date.
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What is the procedure of Voucher Cancellation?
Answer. A voucher can be canceled through Voucher Browser Window. Only pending vouchers can be canceled and that to only by their current authorizer if they have permission. To cancel a voucher select the voucher first in Voucher Browser Window and click right mouse button. You will get a popup menu with one of the option cancel voucher (enabled or disabled depending on permission of current user). On clicking of cancel voucher you will be asked for confirmation. Click Yes to cancel voucher. Canceled voucher remains in the system with the status canceled. Remember a voucher once created can not be deleted.
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What is the procedure of Voucher resubmission and what all vouchers can be resubmitted?
Answer. Rejected or Expired Vouchers can be resubmitted by it's initiator. Initiator can resubmit that voucher after making any change (Optional) to that voucher. The Voucher will then pass through normal authorization process starting from first authorizer irrespective of who has rejected the voucher. To resubmit a voucher select the voucher in Voucher Browser Window and either click right mouse button or double-click left mouse button. If you have clicked right mouse button You will get a popup menu with one of the option Resubmit voucher (enabled or disabled depending on permission of current user). On clicking of Resubmit voucher you will be asked for confirmation. Click Yes to resubmit voucher. If you have double-clicked you will get a tab displaying voucher details where you can change voucher details. On that tab click command button Resubmit to resubmit that voucher.
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Can all vouchers be printed and from which interface can we print the vouchers?
Answer. Any voucher can be printed irrespective of type and status. Voucher printing option is available through Voucher Browser Window on right click of that voucher. This option will be enable only if the current user has voucher printing permission.
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How can we enter the Recurring Vouchers?
Answer. This option is available to the user through Voucher Browser Window on right click of voucher if the user has voucher entry permission. A response window appears for entering recurring vouchers based on selected voucher detail in Voucher Browser Window. The vouchers have the same transaction entries as the base voucher but the voucher information, narration can be changed by the user. The user has to specify the number of vouchers to be generated and the starting date with frequency for their generation.
Click on OK to save the new voucher to the data base. Also updates authorization details . If the voucher has no authorization associated with it then the voucher is posted in the ledger depending on the voucher date.
Click on Cancel To change generation option.
Click on Generate to generate the Vouchers for the specified period and frequency New serial number is also assigned to the generated vouchers.
Click on close to Return without saving.
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What does Reckoner Group List displays?
Answer. Group List gives you the structure of your group in form of tree. This report is provided just to print your group tree. You have the facility of collapsing and expanding any groups on double clicking of that group.
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What does Reckoner Account List displays?
Answer. To View list of accounts and their corresponding groups Click list of accounts sub menu from the Accounts menu , this option has two sub options viz. list only , list with opening and closing balance . Select list only option from menu , following screen will come up with list of accounts , type of account , its parent group , and name and address of the party , and the name of the contact person, if the account type is bank or external.
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What does Reckoner Account Ledger displays?
Answer. In ledgers an organization records all the accounting transactions it transacts with all external entities , in form of ledger accounts , each individual or group of external entities (say customers or the suppliers ) is given an account name and some sheets of ledger called ledger folio

To view an ledger account of any of the external entity (suppliers , bank or customers ) or any of internal accounts (Assets accounts , Expense accounts or Income accounts) of the organization in Reckoner. Click on Ledger sub Menu of Reports, Following screen will pop up where in you can select an account whose ledger you want to view.
On double - click on an account or after selecting and clicking OK , following screen will come up with ledger of the specified account.
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What does Reckoner Group/SubLedger displays?
Answer. If you want to view a combined ledger of any group or an sub group you can select Sub ledger option from Reports menu, you will get an chart of accounts type of dialogue box from where you can select any group at any level , for e.g. if you want to view the all the ledger accounts of a group say Current Assets in one single report then you can select group Current assets from dialogue box and then click OK , following screen will come up with the ledger account of all the accounts under the All The Leaf Groups of the group Currents Assets.
In order to have an hard copy of all the ledger account or to view the ledger accounts of all the accounts at one time Select General ledger option from menu reports , following screen will come up with the list of ledger accounts of all the accounts.
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What does Reckoner Trial Balance displays?
Answer. Trial balance is an analytic tool to check the accuracy of account procedure , and a basis for generation of final accounts . In order to view trail balance , Select the trail balance option of the menu option Accounts. A Dialogue box prompting you for the period for which you want to view the Trail Balance, will come up on specifying the correct and valid date range following process bar will pop up which will show the accounts that are being processed ,after the process is over , this process bar goes and the screen with trial balance will come up.
Trial Balance is similar to Chart of Accounts , showing the balances of starting from top level groups (i.e. Assets, Income, Expense and Liability ) to default three level To further expand or collapse double click on the group and so on till you reach to the to the accounts level , in this manner you can always have group level trail balance as well account level trial balance. Trial Balance displays Information like Opening Balance as on start date of date range specified. Credits and Debits during the period and current balance as on end date of date range specified.
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