Insurance - Accounting & Finance /

Below you can find more information about the Accounting & Finance module


Insurance company accounts are governed by a number of accounting principles some of which are specific to insurance companies and some of which also apply to general financial companies. EASoft Accounting & Finance system has been developed for over 20 years to comprehend and link both Insurance and general accounting principles. Part of the 360 degree solution for insurance EASoft provides; this module can work independently or even linked by our professional staff to any existing software to form a robust end-to-end business platform. The system helps on different levels.

8 Reasons to Use Our System

      1. Multi-regional, currency, and language capabilities
      2. Intuitive, User Interface
      3. Easy-to-implement, easy-to-use, easy-to-maintain
      4. Secure and specific access for users
      5. Full front office and back office functionalities
      6. Fully integrated with the other modules:
        Underwriting, Claims, Reinsurance, etc.
      7. Full automated & Flexible collection system
      8. Arabic enabled: The system allows the user to print third parties documents and reports in Arabic.

Main Modules

      1. Security & Users Profiles management
        The software is designed in a way to give full security at different levels:
        • Access to the different functions of the software
        • Access to the database
        • Log File to trace all the modifications done on the system
        • Data integration
      2. General Ledger
        It is an easy-to-use software application that enables insurers to manage their financial data and keeps accurate records and ensures that insurers have balanced books and accurate reports. The software is designed to automate many bookkeeping and accounting tasks to save time and reduce data-entry errors. The system takes into consideration the various accounting operations of the company as well as other automatically generated accounting entries from other modules (Underwriting, etc.). The Software uses simple screens for entering data, making basic data-entry easy.
      3. Accounts Receivable
        The Accounts Receivable module improves the cash flow management. Accounts receivable lets the organization post cash and checks to a journal to allow the organization to put the cash and checks in the bank quickly, before posting receipts to individual accounts.
      4. Accounts Payable
        Includes but not limited to the Following functions:
        • Suppliers management
        • Purchase orders
        • Purchase orders Validation
        • Invoices
        • Invoice payment
        • Automatic due date
        • Aging Payables
        • Automatic generation of accounting entries for different operations
      5. Treasury & Cash Flow
        The cash flow module schedules the company’s cash receipts (collection of accounts receivable,) and disbursements (payment of accounts payable).
        Example: Banks Movements for a given period.
      6. Fixed Assets
        Built with solid fixed asset management functionality as well as strong links with accounting and business reporting; EASoft Fixed Assets was specifically developed for companies that need to manage fixed assets across the asset lifecycle.
        EASoft Fixed Assets has the following functionalities
        • Fixed-assets items records
        • Hierarchical coding, groups items of same kind
        • Various depreciation and lifetime schemes, per groups
        • Acquisition and disposal transactions
        • Item condition tracking
        • Items geographical locations
        • Inter-locations transfer transactions
        • Fully integrated with accounting
        • Serial number where applicable
        • Warranty expiry-dates and warnings
        • Barcode support
        • Generation of end-of-period assets valuation reports
      7. Financial Reports
        In addition To a predefined Set of Reports available for direct use, the system contains a report generator capable of producing company specific reports extracted or calculated from the balance:
        • Creation of a new report
        • Reports Management
        • Reports Accounts Parameters
        • Correspondence between the financial reports & the chart of accounts
        Example Reports:
        • Balance sheet
        • Profit & Loss
        • Technical Bordereau
        • Etc…
      8. Budgeting
        The system helps the organization to solve its budgets, forecasts and projections in a stable and flexible structure. The organization can prepare its budgets based on the income statement, balance sheet and other financial reports all within an easy-to-use interface.
        EASoft Budgeting is fully integrated with Income statement, Balance Sheet and any other financial report.