Introduction to Fox Accounting System
Fox Accounting Software combines purchase, sales, stock management, barcode management, Point of sale, account receivables, account payables, receipt, payment, AR check, AP check, banking, fixed assets management, tax and accounting modules.
Various divisions inside a company could share a same database. It saves time by eliminating repetitive entry of the same data by different divisions.
When users record data, the software could generate all necessary data automatically. For example, if a user records a sales bill, the software could list this bill on VAT submission report, and list the bill on aging account receivables report, and generate a corresponding accounting voucher and post it to General Ledger, etc.
Other modules directly link to the accounting module and could generate accounting vouchers and update the general ledger automatically, so that users could always have up-to-date financial statements such as balance sheet and income statement.
There are many special features for the accounting module.
1. The software could use Perpetual and Periodic inventory policies.
2. The software could use FIFO(First In, First Out), LIFO(Last In, First Out) and Average costing method when calculating cost of sale. A single sales bill, could include both products with FIFO costing method and products with Average method. The software could calculate the cost for each product according to its specific costing method.
3. The software could use multiple warehouses. The quantity and amount for products could be generated both by each warehouse and by all warehouses in combination.
4. The software supports multiple cost centers. Users could define cost center from 3 dimensions: division, department and project. Income statement could be generated for each combination of the 3 dimensions. This feature is very convenient for construction industry.
5. The software could generate bill numbers in 5 ways. Firstly, it generates running number for each document, such as IV00001, IV00002. Secondly, it generates running number for each document by year, and the bill numbers could reflect the current year in which the bill gets recorded, such as IV11001, IV11002, and the “11” in the 2 numbers means year of 2011. Thirdly, it generates running number for each document by year and month, and the bill numbers could reflect the current year and month in which the bill gets recorded, such as IV1105001, IV1105002, and the “11” in the 2 numbers means year of 2011, and the “05” means month of May. Fourthly, it generates running number for each document by year and month and date, and the bill numbers could reflect the current year and month and date in which the bill gets recorded, such as IV110527001, IV110527002, the “11” in the 2 numbers means year of 2011, and the “05” means month of May, and the “27” means the date of 27th of May. Fifthly, users could input their own bill numbers.
6. Users could input as many characters or phrases for description on an accounting voucher. There is description field for each accounting entry on any accounting voucher, too.
7. Users could use compound entries including multiple accounts on a single bill and the software could generate an accounting voucher including all those accounts.
8. Users could choose to use Thai Baht or any foreign currency for purchase or sales bills. The software could convert amount in foreign currency to Thai Baht currency with a user-defined exchange rate. At payment or receipt, the software could calculate the profit or loss from the difference between the new exchange rate and the original exchange rate and post it to General Ledger. When exchange rate changes sharply, the software could reevaluation the account payables and account receivables with the last exchange rate, and then adjust the balance sheet to inflect on the real situation.
9. Users could define budget figures for each account, and for each customer. Users could compare the actual figures accumulated by the software with the budget figures, to evaluate the operating performance.
10. The software could hide any accounts from the Chart of Accounts. Users who are not allowed to use those hidden accounts are denied access to those accounting vouchers that use the hidden accounts. The most confidential data is kept in safety.
11. The software could import time attendance data from fingerprint scanners, and could calculate late time, absenteeism, over-time and diligent, and then calculate salary, income tax and social security funds, and then generate accounting vouchers and post to General Ledger. The payroll function directly links to the accounting module.
12. All the major accounting reports are present in the software, including general ledger, trial balance, worksheet, income statement, balance sheet and cash flow statement.
The software has working interface in Thai, English, Burmese, Japanese and Chinese languages.
1. It is easy to switch between those languages. Just one mouse clicking switches the current interface to the desired language.
2. For product names, there is a separate field for each language. For account names from the Chart of Accounts, there is also a separate field for each language. This is also true for customer names, vendor names, etc.
Those fields in different languages could co-exist on reports, making it easy to communicate for users who use different languages.
3. Users could be defined to use any languages on working interface. If a user is defined to use English only, the interface will display data from the fields for English only, and will not display data for other languages.
The software implements an advanced security module, to deliver the highest level for data security.
1. Users could be defined with accessible data range. A user gets denied access to any data beyond his/her defined range. For example, staff in purchase division could be defined access to data relating to purchase function only, and they are not able to read data relating to sales function or accounting function.
2. Further rights assignment could be done for any particular behavior operating on each section of data, namely, access, edit, add, delete and print.
For example, a user could be assigned with the rights to access the data for sales bill, and if not, he/she could not read data on sales bill. A user could be assigned with the rights to edit the data for sales bill, and if not, he/she could not edit data for any sales bill. A user could be assigned with the rights to add sales bills, and if not, he/she could not record new sales bills. A user could be assigned with the rights to delete sales bills, and if not, he/she could not delete any sales bills. A user could be assigned with the rights to print sales bills, and if not, he/she could not print any sales bills.
3. Rights assignment could be done for each particular printing format for a given report file. For example, if there are 2 printing layout formats for sales bills, one is the official tax invoice, and the other is the unofficial delivery slip. A user could be assigned the rights to print a sales bill with both the 2 layout formats, or he/she could be assigned to be able to print sales bills with only the official tax invoice format and could not print with the unofficial format. This kind of rights assignment involving print layout formats could be done for all of the 300+ report files in the software, and also could be done for any user-defined layout formats.
More features for the software:
1. The software could be used by multiple users across LAN or internet.
2. The software could use MS SQL Server as backend database, to maximize both performance and security.
3. Users could modify print layout formats for each report file in the software. Users also could add their own layout formats and the software could choose to print the related reports in those user-defined formats.
4. The software could print product barcode labels. Barcode label could be 2D type that includes as many as 2,000 characters.
The software could use handheld barcode scanners or your mobile phones to control inventory and products.
5. The software could send fax and email to multiple customers. For example, users could send new product catalogue to as many customers as possible in one click.
6. The software could warn users on the due account receivables. Multiple points of time could be defined for this warning function. For example, the software could display a warning message for the 1st time for the account receivables that are due in the next 3 days, and then could display a second message for those same account receivables on the next day, and then could display a third message on the due date, and then could display a forth message on the next day after the due date if the account receivables have not been cleared yet.
7. Fox Accounting software has production control module. It could make production plan with Bill of Materials(BOM), and record direct materials, direct labor and overhead. It could calculate production cost for each WIP and FG, and post to the general ledger. The following is the flowchart.
Fox accounting software could use MS SQL Server as backend database.
MS SQL Server Express Edition is free and allows 10GB of data for each database. All current data could be transfered into an Enterprise or Standard Edition which allows almost unlimited data storage space.
We could modify the software, and could add new functions for your unique requirements, to support your business 100%.