STATE OF THE ART TECHNOLOGY VISUAL
WINGOLD is developed using industry standard technology. Its sophisticated architecture makes VISUAL WINGOLD adaptable to existing and emerging applications, operating systems, databases and user interfaces. It also increases processing flexibility and efficiency and grows with you as your business needs evolve. All these make it work seamlessly with Microsoft Office product. Financial Information can directly be exported into Excel, word, PowerPoint in various formats like doc, xls, txt, rtf, etc., enabling you to distribute reports or share this information across the globe.
USER FRIENDLY INTERFACE
VISUAL WINGOLD’s open architecture and interface coupled with its system wide customizing tools enable you to tailor the application around your business instead of confining your company to the limitations of your software application. VISUAL WINGOLD empowers you with state-of-the-art yet simplified functionality. It also facilitates you to view multiple documents and or screens simultaneously.
The outcome of your Business Transactions can be Net Profit or Loss. It can be ascertained correctly only if the Accounts and Ledgers are maintained in the right manner and they are grouped and consolidated appropriately in Trial Balance, Profit and Loss Account and Balance Sheet. In VISUAL WINGOLD, all the Modules are integrated, which implies that they are inter-linked and interconnected. Changes in one Module affect the other and it is accordingly updated. Integrated Modules also support Multi-Tasking i.e. the User can keep open more than one module or forms and complete his tasks as and when
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they come and as and when he desires. For example, while making a sales invoice if the user finds that the required currency is not created or set, the user can call the currency master from the Sales Form, create necessary currency parameters, and manage more than one task at a time.
REAL TIME PROCESSING
VISUAL WINGOLD offers Real Time Processing of the Transactions entered into it. Real Time Processing means that VISUAL WINGOLD will update your Accounting Records immediately. Real Time Processing enables you to get quick answers and an accurate financial picture at any time.
DOUBLE ENTRY ACCOUNTING SYSTEM
VISUAL WINGOLD is based on Double Entry Accounting System. It means that every time a Business Transaction is made, that transaction has to be accounted for in at least in two ledger accounts. One is a debit account and the other is a credit account. VISUAL WINGOLD does the debiting and crediting for you behind the scenes, making sure that debits always equal the credits. The amounts involved with these accounts eventually show up on your balance sheet and Profit and Loss Account. Double-entry accounting can be best summed up with the following phrase: “For every addition, there is an equal subtraction”.
VISUAL WINGOLD gives facility to self-design the Chart of Accounts where the Chart of Account ‘tree’ can have ‘n’ number of nested levels. Further the user can create ‘n’ number of such Chart of Accounts by creating different different templates of Chart of Accounts.
FINANCIAL ACCOUNTING MODULE
VISUAL WINGOLD includes an easy to use Gold Accounting System. It covers special aspects of Gold Accounting like direct purchases and sales unfix purchases and sales, sales and purchase fixing. With regards to sales, there is an option for wholesale and retail sales, which enables the user to record the sales data to dealer sale (whole sale) and customers to (retail sale) separately. Another special feature in VISUAL WINGOLD with respect to Gold Accounting is that the user can receive and make payments in metal quantity in addition to currency. This is an important feature because the terms of unfix purchase or sale, in most cases, may state that
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the payment shall be made in goods (jewellery) other than or in addition to currency.
MULTI LEVEL SECURITY
Security measures in VISUAL WINGOLD are so firm that no person without proper authorization will be able to gain access to the files or information. VISUAL WINGOLD is password protected in its entirety. An administrator can assign a variety of access rights to users based on their work specifications & portfolio. This would further enhance the systems database Security, Integrity and Privacy. VISUAL WINGOLD allows an administrator to determine & check who has access to your company’s data by using unique user name and password identifiers. You can easily add or remove users – and even decide what level of access rights need to be set based on the information each user would require.
INVENTORY MANAGEMENT SYSTEM (IMS)
VISUAL WINGOLD is the most versatile program ever designed to itemize, organize, and track your entire Inventory. Wingold gives you a fast, simple & easy way to manage Inventory items like gold, silver, diamond, watches etc. IMS in VISUAL WINGOLD supports user defined item codes with multiple segments. It provides comprehensive item master including item information, item balances etc.
VISUAL WINGOLD offers real time processing of Financial Information and hence the Inventory Records are updated as soon as Transactions affecting Inventories are made. User can get online status of Inventories in variety of ways for e.g. Information as to Inventories belonging to the Concern (Own Stock), Goods belonging to others, Goods Physically into Custody but belonging to others and so on.
MULTI CURRENCY SUPPORT
Multi Currency support lets you compete and do business globally by giving you the ability to enter invoices and accept cash in any currency. It means that you as a Jewellery Trader, may have business with parties from different countries and it may be necessary and useful to maintain their accounts in their own local currency. Multi Currency Support in Wingold allows user to maintain accounts of a foreign party in the foreign currency as well as in the home currency. One can define more than one currency for a party and maintain accounts of that party in different currencies. The status report of the party’s account, which is kept in multiple currencies can also be obtained in different currencies.
MULTI USER SUPPORT
VISUAL WINGOLD Supports Multiple User Environments. Different Users can login & work on VISUAL WINGOLD simultaneously. Due to the confidentiality of some information according to the seniority and access rights level, VISUAL WINGOLD provides a powerful security system that imposes different security measures on both the modular and data level. It also offers variety of Security Measures to ensure Data integrity, Security and Privacy.
EASY TO USE LOOKUP TABLES
Look-up tables are additional aids provided in VISUAL WINGOLD. They help the user to select the required party, currency, bank account, item, and ledger accounts etc. The users need not always Key-in the Data, which is of repetitive kind and critical in nature. Look-up tables also enable the user to search for required Accounts, Account Codes, and transaction date etc. either in ascending order or descending order.
VISUAL WINGOLD provides several feature-rich & functional modules to perform a specific set of tasks through the use of one or more windows. Each Module consists of several functional features, which perform related accounting tasks in an integrated manner. All of these modules are totally linked and work in perfect harmony to make Wingold a complete Gold and Jewellery Management Solution.
Purchase is an important activity of a trading concern. You may purchase your merchandise directly from the party, through salesmen or agents. Payment obligations for such purchases may either be cash down payment or could also be done on a credit basis. Purchases module of VISUAL WINGOLD offers several ways to improve the efficiency of buying inventory items. It displays the Average Cost of Purchase for the Item being purchased and thereby enables the User to make prudent Purchases. Further it holds information of Item descriptions, prices, Supplier, Credit Limit and other useful details. VISUAL WINGOLD supports following type of Purchases · Direct Purchase / Return · Unfix Purchase / Return · Purchase Fixing / Return · Metal Receipt / Return
Sales Module of VISUAL WINGOLD enables you to record your different type of Sales transactions. A sale is an important activity because it is the main source of revenue for a trading concern. You may sell your merchandise directly to the customers, through salesmen or agents. The sales may either be cash sales or on credit. VISUAL WINGOLD supports the following type of Sales · Direct Whole Sales / Return · Direct Retail Sales / Return · Unfix Sales / Return · Sales Fixing / Return · Metal Payments / Return · Point of Sales.
The banking function in VISUAL WINGOLD enables you to record new Bank Receipts and bank Payments made in the form of Cash as well. It also enables you to Record the Details of Post Dated Cheques Deposited into the Bank and Post Dated Cheques issued to the various parties now attaining payment date
Physical Stock Module of VISUAL WINGOLD allows you to enter the Inventory as has been physically verified by you. You can enter physically verified Stock for each item so that any discrepancies, loss, theft or destruction of goods can be recorded and adjusted under Stock Adjustment Module.
Journal in VISUAL WINGOLD allows you to make journal entries into different accounts including parties accounts. Generally, journal vouchers are made when there is any difference of quantity or amount in the accounts. VISUAL WINGOLD supports two types of Journal Entries viz., Quantity Journal and Currency Journal.
Reports Section of VISUAL WINGOLD allows you to view several MIS Reports and Master Reports. These Reports helps you to manage the resources in an optimal way and it helps you maintain a consistent contact with your Customers and Suppliers. All reports can be exported to files or to other applications like Microsoft word, PowerPoint, Excel, Internet Explorer, Microsoft Exchange etc., for extended financial analysis and communication. You can publish your report in a Hyper Text Markup Language (HTML) format document, which can be viewed on a Web browser. Anyone with a Web browser can view this report even if they don’t physically have the application installed on their computer. You can distribute an HTML report as an Internet or intranet Web page, or e-mail it as well.
VISUAL WINGOLD maintains several Registers for your ease at day-to-day operations. You can filter the registers based on your own criterion and view/print or save it as a file in different formats like .doc, .xls, .htm, .txt and so on. Registers maintained in VISUAL WINGOLD: · Day Book · Cash and Bank · Purchase Register · Sales Register · ·Stock Register · Journal Register.
VISUAL WINGOLD is also an efficient Inventory Management System. It has the capability to generate the below mentioned reports for Inventory maintenance. Metal Stock Register, Premium Stock Register, and Making Stock Register in Base as well as Trading UOM.
Ledger is the Principal financial record-book of an organization, in which details of all transactions, assets and liabilities are maintained. In VISUAL WINGOLD, different Ledgers are provided containing different types of information to suit to your requirements. As soon as you make a Transaction the Ledger is updated accordingly in order to enable you to get online status of your accounts.
· Base Currency and Quantity
· Foreign and Base Currency
· Gold and Silver Quantity
· Foreign and Base Currency with Quantity
· Ledger Simple and FUOM Ledger
Trial balance is a statement that sums up all the debits and credit figures so that computation errors can be traced if the total debits do not equal the total credits. Movement Trial Balance is available for a specified period, (in the form of a template) with or without grouping options. The Drill down Trial Balance facility allows a user to view Trial Balance as on a specified date with Amount and Metal taken both together. Drill Down Trial Balance enables you to see the entire audit trail.
PROFIT & LOSS
Profit and Loss Account shows you the Financial Result of the Business Activity carried out during a particular financial year, it makes evident whether the company has generated a profit or has made a loss. Profit and Loss Account is a way to keep an eye on the health of your business and a mechanism to periodically analyze your income and expenses, to see where you can cut costs or to determine what percentage of your income depends on a particular client. You can view the Profit and Loss Account or Movement Profit and Loss Account as on Specified Date and as per the Template you choose.
Balance Sheet is an instrument that shows you the Financial Position of your company as on a specified date as per the Template you choose. It’s a financial snapshot of your company on a specific date. It portrays: · What you have · What people owe you · What your business owes to other people and finally · The net worth of your business. Movement Balance Sheet in VISUAL WINGOLD shows you the Financial Position of the Concern for a specified period based on the Template you choose.
MIS Reports in VISUAL WINGOLD allows you to view various Management Information Reports. It follows Management by Exception principal i.e. reporting and Interference of the Top Level Management is sought only in the Critical Situations. In Normal Business Conditions the Workforce will be free to take their Own Decisions and get the things going. VISUAL WINGOLD focuses on effective conveyance of information, enabling your business to maximize profits by implementing a streamlined, automated operation.
Sales Analysis Section of VISUAL WINGOLD allows you to analyze your Sales based on different Parameters. Sales Analysis helps the Management to measure the Performance of Items Purchased, Salesmen Employed etc. on the basis of Sales achieved.
Purchase Analysis Section of VISUAL WINGOLD allows you to analyze your Purchases based on various parameters. Purchase Analysis helps the Management in making effective Inventory and Purchasing Decisions.
Accounts Receivable helps you manage your customers and fine-tune customer relationships by keeping track of important sales information and outstanding balances. Flexible budgeting, powerful cash management, credit management, and comprehensive reporting helps ensure your receivables are efficiently managed, reducing collection times and helping identify potential payment problems.
Payables analysis makes it easy to manage the detailed information your company requires. Its powerful library of accounting and reporting features help you manage your business cash flow with ease, saving your time and money.
Profitability Analysis helps you to judge about the profitability of various items/customers based on several parameters.
Zoom in and Zoom Out Features in Report.
• Drill-Down Interface.
• User Defined, Flexible Accounting Period.
• Automatic posting to General Ledger.
• Visualized Posting from Transaction Level – Debits always equals Credits.
• Automatic Calculation of item prices based on predefined categories, discount terms.
• Comprehensive customer and supplier Master Information File.
• Validations for Maximum and Minimum Purity within which an item should be entered.
• Validations for Maximum and Minimum Currency Exchange Rate.
• User Defined Fields at Transaction Level.
• Allows Multiple Windows to be opened at the same time. You can also move, resize, minimise, maximise or close the windows, or simply switch between various windows
• Enables Multi-Dimensional Analysis (MDA) on data that has been stored.
• Online Party Balance Inquiry at Transaction Level.
• Display of Physical Stock in Transaction Entry Mode.
• Powerful Document Allocation feature to allocate various transactions to appropriate source documents.
• Smart search capability in Lookups to find out the desired values. Sorting, Creation of new values allowed in Lookups.