TACTCPM’s Finance Module, help construction companies maintain a clear and organized financial system. The module includes functionalities for ledger management, financial tracking, and seamless integration with popular accounting tools like Tally, allowing for streamlined financial reporting and compliances. It offers a comprehensive solution for financial management, tailored to the industry’s unique needs

Key Features:

1. Ledger Groups:

• Organized Financial Structure: TACTCPM allows for the creation of Ledger Groups, which categorize and group similar financial transactions, such as income, expenses, assets, and liabilities. This ensures a structured approach to financial management and reporting.
• Customizable Grouping: These Ledger Groups can be customized according to the specific needs of the project or organization, allowing companies to set up their financial system in a way that aligns with their statutory requirements.
• Hierarchical Ledger Groups: Enables the creation of primary and secondary ledger groups, allowing for better classification and financial reporting. This hierarchical structure supports detailed financial tracking and transparency.

2. Ledger Accounts:

• Detailed Financial Recording: The Ledger Accounts feature allows for detailed tracking of all financial transactions related to a project. Each transaction, whether income, expense, or transfer, is recorded against a specific ledger account, providing a clear and accurate financial history.
• Multiple Ledger Accounts: Companies can create multiple ledger accounts within each group, such as separate accounts for payroll, material costs, equipment expenses, and overheads, ensuring granular financial control.
• Account Descriptions: Each ledger account is assigned a unique description, making it easy to identify and retrieve account information for financial analysis and reporting.

3. Ledger Account Statement:

• Comprehensive Account Overview: The Ledger Account Statement provides a detailed record of all transactions associated with a particular ledger account over a selected period. It includes debits, credits, balances, and references to vouchers or invoices for each entry.
• Drill-Down Capabilities: Users can drill down into each transaction within the statement for further details, such as the source of the transaction, approval details, and associated documentation. This provides full visibility and traceability.[Enhancement]
• Real-Time Updates: The system provides real-time updates to the ledger account statements as transactions are recorded, ensuring that the financial data is always up to date.

4. Ledger Account Summary:

• Condensed Financial Reporting: The system offers a high-level view of all financial transactions under a particular account, summarizing the total debits, credits, and closing balances. It helps managers quickly assess the financial health of various accounts.
• Quick Insights for Decision-Making: With the summary feature, users can make quick decisions about budgeting, resource allocation, and cost control without delving into the detailed transaction history.
• Multi-Period Comparison: This feature allows users to compare ledger account summaries over different periods, helping in trend analysis and financial planning. [Enhancement]

5. Day Book:

• Daily Financial Recording: The Day Book feature captures all financial transactions that occur within a single day. This includes payments, receipts, journal entries, and transfers, ensuring that the company maintains a detailed record of daily financial activities.
• Categorized by Type: Transactions in the Day Book are categorized by type, such as cash transactions, bank transactions, or journal vouchers, making it easier to reconcile accounts at the end of each day.
• Audit Trail: The Day Book also acts as an audit trail, capturing the time, date, and user responsible for each transaction, which supports transparency and accountability in financial management.

6. Tally Integration:

• Seamless Data Synchronization: TACTCPM integrates seamlessly with Tally, a popular accounting software widely used in India. This integration allows companies to transfer financial data between TACTCPM and Tally effortlessly, ensuring that both systems remain in sync.
• Automated Data Export: Financial transactions recorded in TACTCPM, including those related to payroll, vendor payments, and project expenses, can be exported automatically to Tally for further processing, eliminating the need for manual data entry.
• Minimizes Errors: With Tally integration, the risk of manual errors is reduced, ensuring that financial reports generated in both systems are accurate and consistent.

7. Tally Trial Balance:

• Accurate Financial Reporting:System generates a Trial Balance that can be imported into Tally, providing an accurate snapshot of all ledger accounts’ balances at any given time. This serves as a key financial report used for preparing financial statements.
• Compliance and Audit Readiness: The Trial Balance report ensures compliance with accounting standards and provides a ready-to-use document for auditors and regulatory filings.
• Real-Time Updates to Tally: As financial transactions occur in TACTCPM, the data is updated in real time, ensuring that the Trial Balance in Tally reflects the most current financial position of the company.

Unique Selling Proposition (USPs)

• Streamlined Financial Operations: With automated financial processes, ledger management, and real-time updates, TACTCPM ensures that financial operations are streamlined, reducing manual errors and improving efficiency.
• Transparency and Accountability: The module provides a complete audit trail for every transaction, enhancing accountability and ensuring that financial data is accurate and compliant with regulations.
• Cost Control and Budgeting: Detailed ledger reports, account summaries, and day books allow companies to track expenses meticulously and control costs effectively, contributing to better budgeting and financial planning.
• Seamless Integration with Tally: By integrating with Tally, TACTCPM ensures that financial data flows smoothly between the two systems, making it easier to manage financial reporting and audits.