1. Financial Accounting System
The Accounts module of Hit takes care of every accounting need at the Company Level. Besides regular accounting functions, the system offers features like Accounts grouping to n levels, and Unlimited number of Documents like Petty Cash, Cash On Hand and different bankbooks. The system allows for a provision for reconciliation of Bank, Debit/Credit note, Inter Location Documents.
The system allows a foolproof method to prevent manipulation of accounts. Users can be defined under Sanctioning authorities with the authority to sanction different amounts of money. Hit Accounts supports Multi- Location and Multi Currency requirements.
2. Bills Management system
Bills Management module of Hit is a system that is capable of automating all the tedious processes involved in the processing of payables and receivables in an organization. It keeps track of all the supplier invoices and related documents, creditors & debtors balances right from their generation to the final payment or receipt. In general the bills could be broadly classified as Payables and Receivables. The system allows the flexibility for defining different Bill Categories, Aging of Bills, General Payment Terms, supplier wise payment terms, additional charges and linking them to account heads.
3. Fixed Assets system
The Fixed Assets monitors and maintains all capital items and projects. In the case of projects, it tracks work in progress until completion and capitalization. It provides for asset addition, revaluation and invoice generation, taking care of any forex gain or loss through transaction.
- Provision for AMC status and renewal, wherever required.
- Takes care of asset maintenance, transfer of an asset to different locations and disposal.
- Calculates depreciation using Straight Line or Written Down Value methods along with rate setting and accounts posting.
Keeping the long-term information on fixed assets and their subsequent depreciation processes are tracked through this module of Hit. Necessary values required for compiling the final accounts of the Company are derived automatically from the module.
4. Human Resources Management System
The Human Resources module of Hit handles the capture and maintenance of records of all the details of the employees from recruitment till cessation within the Organization. The scope of the system involves all the processes leading to recruitment and other processes such as transfer, termination, retirement, disciplinary action, dismissal, training, appraisal and promotion. In addition, Department, Designation, Grade, Scale of Pay, Leave details, Housing details, Claims and Benefit details, statutory deduction details are also covered.
5. Employees Payroll System
The Employees Pay Roll module of Hit takes care of the History Maintenance, Salaries and Allowances of the employees on the Company payroll. Besides maintaining the salary details, the system handles employee history besides recording promotions and transfers, allowances including motor, bungalow and other benefits, Provident Fund, fund transfer to personal accounts, cheque printing/cash payment, remittance cheques, loans and leave. The system generates yearly statutory statements and also enables bank transactions of the employee to be done through the Company's accounting department. It can have 'n' numbers of allowances and deductions, Bank and Cash Payments, Benefit calculation, Income tax statement, Accounts updating, Leave maintenance, Loan and other deductions and Statutory statements.
6. Budget System
The Budget module of Hit helps to prepare and maintain estimates of different activities in the Company. The module considers the need for budgeting in four areas viz. Output Targets, Operation Expenditure Estimates, Sales Targets and Anticipation of Profitability. Hit allows the User to estimate all expenditure and income in terms of three elements - Man, Material and Money on an activity wise and department wise bases. Budgeting can be done for activities separately for each department. Hence, the module facilitates the budgeting to be done department wise.
The system classifies operating expenditures into Variable and Fixed expenditure based on their nature and frequency of recurrence. Budget revision can be done either half-yearly or as desired.
7. Management Information system
The MIS module picks up vital information from the other functional modules integrated to it and after the computation process, provides essential reports that are automatically generated. No manual input is required here. Actual expenditure incurred under any activity is compared against the budgeted provision and variance is highlighted. Such comparisons can be viewed monthly and/or selected periods against the budget or even for the same month of the previous year.
The MIS module provides essential information required by the Manager in the form of daily or monthly reports. These reports help the Manager in taking right and timely decisions for better control of operations. The intention of the System is to give all the relevant information to the manager, in order to do away with the wastage of resources in all forms. The MIS helps in the comparison of performance in order to isolate the root cause for lack of productivity, eliminate it and enhance production and productivity. This helps significantly in bringing down the Cost of Production.