Features Available in the Accounting Software Module
More than 90% of accounting entries will be posted automatically to our online accounting software. Almost no accounting knowledge is required to run LAM POS. With a preloaded chart of accounts, you can manage your books of accounts easily.
Automated Accounting Entries
Most of your accounting entries will be posted automatically, reducing the need for manual data entry and minimizing errors.
Preloaded Chart of Accounts
Our software comes with a preloaded chart of accounts, making it easy to set up and manage your financial records. You can also add as many accounts as required.
General Ledger
Maintain a detailed record of all financial transactions, providing a comprehensive view of your business's financial activities.
Trial Balance
Generate trial balance reports to ensure that total debits equal total credits, helping you verify the accuracy of your accounting data.
Balance Sheet
Create balance sheet reports to get a snapshot of your business’s financial position, showing assets, liabilities, and equity.
Income Statement
Produce income statements to evaluate your business’s financial performance over a specific period, detailing revenues, expenses, and profits.
Cash Flow Statement
Track cash inflows and outflows with cash flow statements, helping you manage liquidity and plan for future cash needs.
Accounts Receivable Aging
Monitor outstanding customer invoices with accounts receivable aging reports, helping you manage collections and improve cash flow.
Accounts Payable Aging
Track unpaid vendor invoices with accounts payable aging reports, ensuring timely payments and better cash management.
Bank Reconciliation
Compare your bank statements with accounting records to identify discrepancies and ensure accurate cash records.
Journal Entries
Record and review all journal entries, allowing you to make necessary accounting adjustments and maintain accurate records. Accountants and business owners can record opening balances, create adjustment or correcting entries via journal entries.
Expense Tracking
Easily record & monitor any type of expense transactions, associate with vendor profiles and keep running your business effectively.
Budget vs. Actual
Compare actual financial performance against budgeted figures, helping you track variances and adjust financial plans as needed.
Financial Ratios
Analyze key financial ratios to assess your business’s financial health and performance from multiple perspectives.
Audit Trail
Keep track of all changes made to accounting records with an audit trail, ensuring accountability and regulatory compliance.
Fixed Asset Management
Manage your fixed assets, including acquisition costs, depreciation, and net book value, to plan for replacements or disposals.
Tax Summary
Generate tax summary reports to ensure compliance with tax regulations and prepare for tax filing.
Bank Accounts
You can create and manage all your bank accounts to receive funds from customers and make vendor payments.
Bank Deposit
Deposit cash, cheque, and other documents to your bank account from a single interface is very easy like never before.
Funds Transfer
You can share funds between any two accounts by using the fund transfer feature of LAM POS.
Report
Balance Sheet
This statement provides a snapshot of a business's assets, liabilities, and capital as of a specific date.
Profit and Loss
It summarizes the revenues, costs, and expenses incurred during a specified period.
Audit Log
Tracks the activities performed by users throughout the system for monitoring and accountability.
Account Ledger
Displays a company’s transactions against each ledger account for detailed financial tracking.
Expense Report
Shows business expenses categorized by cash or accounts within a specified date range.
Credit Note Report
Lists credit notes issued to vendors/customers within a specified date range.
Debit Note Report
Lists debit notes issued to vendors/customers within a specified date range.
Trial Balance
Lists accounts with debit or credit balances from the business's ledger for balance verification.
Consolidated Ledger
Displays centralized transactional activities of contacts registered as customers and vendors.
Transaction List Report
Provides detailed information about single transactions in the form of journal entries.
Tax Collected on Sales Report
Lists taxes collected from customers against product sales within a specified period.
Tax Paid on Purchases Report
Lists taxes paid to vendors against product purchases within a specified period.
Serial Product Management
Tracks inventory with organized serial number management post-sale for better inventory control.
Journal Generals
Summarizes all financial transactions in chronological order for comprehensive financial record-keeping.
Chart of Accounts
Lists all accounts used by a business to organize financial transactions systematically.
Bank Accounts
Displays information about the business's bank accounts, including balances and transactions.
Bank Deposit
Records deposits made into the business's bank accounts for accurate financial tracking.
Funds Transfer
Tracks transfers of funds between different accounts or entities within the business.