This customer is one of leading yachts renting company in the UAE. They have highly sophisticated renting options for the high-end market. In order to manage and monitor their renting business activities they were in search of having a reliable software solution. FactsERP were procured to handle overall trading activities.
Some of the main modules which FactsERP supports mainly include Receipt Voucher, Payment Voucher, Credit Note, Debit Note, Journal Vouchers and Petty Cash Vouchers. In Receipt Voucher advance received from customer are booked as liability in the beginning. All the credit note and debit note are recorded and stored accordingly in the books of accounts. Payment Voucher consists of cash payment, bank payment and Postdated Cheque (PDC) payment.
Apart from the core modules there are other optional modules like Fixed Assets Category Master, Fixed Assets Master, Fixed Assets Addition Entry, Fixed Assets Disposal Entry, Depreciation Posting, Depreciation Transaction and Fixed Asset Register which keep a track on utilization of assets. Fixed Asset Category Master arranges the asset categories according to their main purposes. Fixed Assets Master is used for maintaining company’s fixed assets. Fixed Assets Addition Entry are generally the cost expenditures which are used for investment of companies. Fixed Asset Disposal Entry usually happens when a fixed asset is destroyed because of its expiry date. Depreciation Posting is used for storing assets and displaying voucher entries. Depreciation Transaction is used for determining the disposal of fixed assets. Fixed Asset Register displays the list of assets which are maintained by the company.