DCS - Status of Account Module

Status of Account Module
Date: 14th Dec 2023

Account module functionality - Current Status
1. As required by the GSFCU, Infinity team had delivered following functionalities as per the module
System Requirement Specification (SRS). Account team has worked on the account module to test
the flow of the system in terms of Ledger Updates, Balance sheet mapping etc.
Major functionalities developed as per SRS are as follows
Account Credit & Debit note entries Budget

Expense Day book & Audit Book Salary Payment
Master Bank Balance sheet
Account Ledger Payment Depreciation register & Asset
Booking
Tax Slab configuration Reports

Journal entries Service Invoice entries
2
Account Module functionality - Current Status
2. For the GO-Live of Account module, opening balances of various ledgers were given to the Infinity
team for uploading in DCS Account module from 01/04/2022. After uploading the opening balances,
Account team had encountered the ledger mapping issues and opening balance difference. The same
was given to the Infinity team and corrected on 05/06/2023.
3. After uploading of opening balances, account team has started to work on the actual account
module functionality. Also, Account team & ITeS team had instructed all the related department (i.e
Procurement, Facility) to do entries of all Purchase Invoice / Service Invoice bills in the DCS System.
4. During the Day to Day transaction of the account module, account division had encountered various
errors/ issue. Issue like Depreciation/Assets ,GST-RCM Budget, Salary-PF related, ledger mapping etc.
This issue are directly effect the Income & Expense & Balance sheet statement. Account team and ITeS
department had jointly discussed the same with the Infinity team to resolve at the earliest. Some of
points were not resolved in a timely manner and are noted as pending.
5. As of now, the various department have completed entries for the Service Invoice / Purchase Invoice
in the DCS system. Also, The salary process were already implemented in the DCS system from
01/04/2023. Visiting Faculty Remuneration Module will be developed shortly. Account team will close
all the entries after resolution of the transactional issues including Depreciation & Asset Booking.
3
6. As AMC was finalized recently with terms and conditions, Account team and ITeS team will jointly instruct
Infinity team to resolve these points before 31st Dec 2023.
The issues which are pending are as follows:
Sr No Particulars Problem Description

1 Budget Module Currently, Infinity had given a basic expense panel of budget where
account team will enter the budget amount as per the committed line
item and Budget code. Actual budget module should be like Account Head
wise Budget Utilization as per transactions is checked in DCS and on
exhaustion of funds the System will generate Warning .ITeS Department
had prepared the updated budget module SRS for Module development.
2 Depreciation The matter related to Depreciation have already been explained to Infinity
Calculation As Per with detailed discussion. However due to misunderstanding of logics,
Government Policy there were discrepancies in the output. Asset Booking & Depreciation
calculation will be done as per the applicable accounting policy.
Accordingly, a policy document is shared with Infinity team to assist in
logic creation if required. It is pertinent to note that, presently Assets is
accounted for without GST value in DCS, however, Assets would be booked
along with GST value as per the policy.
4
3 Asset Category Category and date wise asset and Asset register will be done by
31/12/2023
4 Salary Cycle 1. Head wise Salary cost classification is not integrated with Account
Module (Further the same should also include Stipend, Consultancy
charges and deputation charges separately as applicable).
2. Integration and Employee wise recording of Employer's Contribution
to Provident Fund and PF Admin charges at the time of payroll run is
pending.
5 Service Invoice It is observed that, during the Demonstration Entry related to reverse
charge mechanism, its impact was not generated or accounted at all
on the Liability Side as Reverse Charge Mechanism (RCM )Payables.
Technical error in accounting of Service invoice entry was informed to
Infinity. In RCM entry, it is observed that once the RCM entry
approved, there is no option at all to modify later. These requirement
will be mitigated by 31/12/2023.
5
Account module functionality given as per SRS and current status
6 Reconcile Fees receipt Infinity team had delivered the updated fees reconcile report as given
and Impact of Fees by the account team in the last week. Account team will do the UAT
Receipts in GSTR 1 and check the report on day to day fees transactions to check all the
report & Fees fees transactions available in the system.
reconciliation report
7 Print reports Print Layout – Account ledger, Receipt voucher, vendor creditor report,
Payment voucher, contra voucher, Service Invoice register, Money
Receipt, issue payment, Purchase Invoice etc.
Infinity team had delivered the reports of Service Invoice GST, Journal
entry, Issue payment and Account ledger. Rest of the report will be
completed by 31/12/2023

DCS - Status of Account Module

Uploaded by

Document Information

Original Description:

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

DCS - Status of Account Module

Uploaded by

Copyright:

Available Formats

Status of Account Module

Date: 14th Dec 2023

Account Credit & Debit note entries Budget

Tax Slab configuration Reports

The issues which are pending are as follows:

Sr No Particulars Problem Description

You might also like