Supply chain industry has been through the most difficult time ever since its inception. The pandemic has taught every business to be prepared to be resilient. The process of logistics often involves different countries and continents, and when each country started to close borders, a new virtual passage seamlessly became part of the process. So how does a multi-currency SaaS financial module help to gain profits in Logistics?

The financial aspect of a Logistics business deals with a lot of challenges and unlike other areas, requires utmost care and vigilance during the development and integration. Logipulse and its deeply integrated modules were introduced into the virtual world long before the lockdowns. Everything was thoroughly researched, and independently functioning elements were developed. Logipulse accounting module is one such element of the whole software that took enough time and attention to evolve into perfection. The multi-currency enabled accounting module of Logipulse has a lot more features which according to customers are a bonus to them!

One major issue faced by the logistics companies administering international transactions is the constantly varying currency market. It makes budgeting for international exchanges almost impossible. An organization with branches in multiple locations across the world can benefit a lot from the multi-currency accounting module. It will be easier to incorporate the values which are stored in multiple currencies in different locations into one single currency as determined by the customer. The advantage of a SaaS platform like Logipulse, over an on-premises software solution is that currency value fluctuations or upgrades should be done locally within the company, which may be impossible at times. This is clearly evident especially during the current pandemic. With cloud-based software solutions, such upgrades and additional modules are easier to adopt without any change in the operations of the business or its workflow.

Logipulse SaaS accounting module can be merged into the existing logistics modules which then makes you global within a simple step. Small to Medium Enterprises (SME) can benefit the most from this as they need only minimal investment or subscription to a new module. A single module can accommodate a multitude of currency options for an enterprise. It can help an SME take a big step and harvest profits world-wide.

Managing financial accounting aspects of any logistics company is a complex process, especially for those who handle multiple locations, languages, and currencies as there is more probability of human error. Obviously using spreadsheets for financial records is not only impossible but also outdated due to the bulk of data these days.

Logipulse financial module is an in-built accounting software made keeping in mind all the demands of freight forwarding logistics, shipping agencies, warehousing operations, and beyond.

How Logipulse Accounting Module Can Help Your Business Grow?

During a time like the pandemic, it is more significant than ever to know exactly where you are with your finances at any given time. If you’re using an accounting system that’s not part of your logistics operational software it can soon get complicated, costly, and time-consuming.

Handling operations from quote, pickup to delivery and export, import, transportation, shipping agency, or warehousing with operating with an external accounting system can make things more confusing. All the efforts you put on to make an automated system will be wasted if your financial dealing is handled manually. Also, there is more chance for errors.

Logipulse is a secure and reliable cloud-based Logistics execution platform providing a deeply integrated cutting-edge technology software allowing you to handle both operational and non-operational accounting.

Work smarter and faster.

Logipulse provides an opportunity to customize reporting facilities. Moreover, profit and loss analysis give accurate information about where to balance the operations to avoid losses and bring profit into the business. You can simply save these configurations as templates for later use and schedule reports to appear automatically, keeping you notified and improving effectiveness.

Make invoice payment processes easier.

With Logipulse, your customers, third parties or other associated team have their own individual accounting configuration for both receivables and payables. You can also set-up client invoicing preferences and maintain their credit straight within this organization's record. Invoices are issued with the correct tax amount with the master data input.

Quick agent invoicing.

Settlements are easier than ever. When you have operations across the globe, it can be difficult to conclude who owes what amount and to which parties. Using Logipulse you get reports of payables and receivables automatically in the concerned system.

To be precise, here is a list of LOGIPULSE accounting module features:

• Multi-Currency

• Tax Enabled

• Tax rate customization

• Discounts at payment

• Batch invoicing: Consolidates invoices actor-wise

• Auto Charge payment: Vouchers can be generated against an expense

• Contra charge: Income and expense can be added in a single window

• Custom date: Can create invoice and payment for a custom date

• Aging Report: Date range wise receivables/ payables.

• Payment Reports: Invoice, bill, voucher, receipt

• Outstanding Report: Invoice wise receivables/ payables

• Partial Payment: Can create receipts/ vouchers for partial payments

• Settlement: Calculate agent commission for jobs

• Accounting Reports: Trading, Profit and Loss report, Balance sheet, Ledger, Sundry Debtors and Creditors report for each branch.

• Consolidated Reports: Consolidates accounting reports of subbranches

• Post Dated Cheque: Can create a Post-dated cheque

• Reconcile: Helps to compare bank account and passbook

• Financial Period: The financial period can run at any time

• Email Invoices: Invoices can be mailed to the Actors

• Manual Entry: Users can create Actor specific and General entries

• Virtual Ledger

• Actor specific ledger

• Actor-wise ledger report

• Vendor link with ledger account

• Opening Balance: Can provide opening balance for default financial period

• Export to Excel: Any report can be exported in Excel format

The entire system makes the accounting system extremely configurable so that one can easily distinguish what works best for their business. Accounts section is no more hectic area in logistics.