The Cubit Business Accounting system posts all transactions (for example Sales, Purchases, etc.) as they happen, directly into the accounting system, there is no need therefore to capture daily sales or anything else again into a second or third system as everything happens in one integrated place.
We guarantee you the most comprehensive Business, Accounting and Payroll software ever, for more information or to arrange a demonstration on Cubit please email us on Please send me more information on Cubit Business Software please
Information: Sales to Debtors or Customers and Stock basics:
The debtor or customer master files contain advanced details of all customers/debtors including interest rate, settlement discount, pictures (photos), scanned contracts or other documents, banking details etc. that the business accounting system requires. The system can also e-mail statements, quotes, invoices and documents directly to customers/debtors and/or the customer can log into your website to view/print statements and copy tax invoices themselves. In the business accounting system there is also EDI (Electronic Data Exchange) functionality that allows your business accounting system to communicate with your supplier or customer business accounting system. Cubit can also customise or integrate into almost any other business accounting system available on the market.
The Cubit business accounting system can produce Customer Sales Orders or work directly to Invoice and therefore caters for multiple customer work flows. The system can also produce Stock Invoices (For actual Stock or Labour and Service Items (set when adding stock) and also Non Stock, the business accounting system also allows Negative Stock (Whilst still tracking COS) or you can use the non negative stock Invoices (To obtain accurate GP reports in the business system) All in all the system has 23 separate Invoicing functions for you to choose from. You could also Invoice customers at different customer branches or at different delivery addresses and of course the business accounting system can link the signed (and scanned) POD (or Invoice/Delivery note) to the actual transaction for easy future e-mailing or printing to clients.
Of course the business accounting system also tracks what is being sold per customer, per stock and analises time cycles to produce Sales Forecasting, Purchase Planning and many other very advanced reporting tools which are especially useful for stock based companies. The system also has advanced debtors analysis tools to assist in the collection of overdue accounts and the business accounting system has the functionality to block customers on age analysis and overdue accounts. The system also has very advanced stock tracking, with serialized or non serialized options and also tracks customer warranties and repairs. It also has a complete workshop and also a Call Out technician and/or driver management system. The business side of the system has advanced Stock Taking functionality that also caters for re-counts and stock adjustments. The business system also caters for Settlement Discounts on debtors (and Creditors) and even handles the VAT on settlement and other Debtor/Customer transactions.
POS: there are two main POS screens in the general version, One is a “Speed POS” and the other contains many more features For Supermarkets (and other retail) there are also separate POS programs that plugs into the main system. There are no “per till” or per user costs for POS usage over your network. Cubit also caters for decentralized POS (Branches and satellite stores) Please contact sales@cubit.co.za for more information in this regard.
Information: Purchases from Creditors or Suppliers:
The business accounting system handles purchases through purchase orders or a high speed batch Creditor/Supplier capturing system. It is possible to capture more than 100 average supplier invoices with multiple line items in under an hour! (Does your single creditors clerk manage in excess of 10 000 Creditor Invoices in one month?) It also tracks multiple stock codes (for the same stock item) on a “Per Supplier” basis, the system also tracks lead times (How long does each supplier take to deliver) and has an advanced algorithm for the calculation of suggested purchase requirements. The system also tracks preffered suppliers, varying costs per supplier and other supplier product functions. the business accounting system also manages Supplier Settlement discounts and has a supplier reconciliation function which produces a Supplier reconciliation and remittance advice that balances back to the suppliers own statement which can be e-mailed directly to the Supplier/Creditor. The business accounting side also produces cheque printing payment run, EFT payment runs or manual cheque payment runs. Re-Imbursive purchases are very easily processed and it could processes the GRN and Raising of the liability separately or by clicking on one button!
Information Stock Management:
The business accounting system has very advanced stock management integrated into all aspects of a stock based business including but not limited to minimum and maximum stock levels, purchase and sales forecasting. The system also manages stock pictures, specifications, designs, UOM, BOM, UOS, RFID, multiple stock codes per supplier and customer, multiple and permission based stock warehouses, stock locations, stock taking. Because it has a very advanced stock ledger it is possible to produce detailed stock movements, transmissions between branches, stock in transit, stock variances and many many other reports. The Cubit definition of stock also includes Labour items and Service items, Consignment stock and the business accounting system even caters for negative stock balances and can do suggested adjustments automatically or manually. You have to use the stock system to understand why it is extremely challenging to produce an executive summary of the business side stock and Inventory system.
Information Business Accounting:
After your Accountant views the Cubit Financial Statements it will become abundantly clear why the Cubit business accounting system is the fastest growing South African Business Accounting system. For business owners the Ratios (when properly configured) provides an instant glance at the exact state of your concern and allows you to instantly take corrective action (i.e increase debtor collection or decrease overdraft) ensuring the optimal management of your concern.
Cubit is also a forensic accounting system, which is extremely beneficial to multiple owner businesses or concerns that wish to institute excellent corporate governance and reduce business risk (Both Information and Financial) as Cubit includes ASA 400 and ASA201 data analysis tools which includes transaction variance analysis, user transaction processing variances and other very advanced information and data analysis tools.
Cubit also produces detailed VAT reports (and even VAT201 details) and processing a 200 staff payroll, paying the staff and completing your EMP201 or EMP501 could take less than 5 minutes. Have you ever heard of such an outrageous claim? oh, and of course your accounting is already done…
Similarly Cubit can produce your employment equity report (Dept of Labour) in a few minutes…
TIP: When adding or altering your chart of accounts Cubit advises not to change the ledger accounts, for example debtor control, inventory control and creditors control. we also recommend keeping the same numbering as the default numbering for major main accounts such as sales and rather add to the system than to remove default account numbering.
Accounts
Mini How to: Accounts Regular Tasks:
1. Reconcile Customers/Debtors accounts, Follow-up overdue Accounts and Print Customer Statements
Click on: Debtors -> Batch Debtors Statements – Select your requirements and
Click on ‘Open with’ and ‘OK’. a ‘Download’ window will open up, Select the folder
that you want to save in, and a window will appear with all the statements.
Debtors Age Analysis: Click on: Accounting -> Financials -> Show all Reports
Option a Report screen will appear. Under the heading ‘Debtors’ Click on ‘Debtors Age Analysis’
TIP:
When Clicking on ‘View Customers’ or ‘View Suppliers’ or ‘View Stock’ in Cubit there are additional options in the same line all dealing with the accounts. You can do a stock journal, debtors accounts journal and creditors accounts Journal from the ‘Transaction’ button. Similarly you could edit, view statement, view stock movements and many other functions from these ‘View’ screens…
2. Reconcile Creditors Account, Pay Creditors and Print Supplier Account Statement,
Click on Creditor -> View Supplier (there is a supplier reconciliation function on Add Payment) In the option Block Next to ‘Details’ there is also an option to generate a ‘Statement’
TIP:
When looking at a Creditor Statement or Debtor Statement – Use the Correct date range
option Also: You can set the default for “Open item” or Detailed under the settings menu –
This only displays “Paid” or “Allocated” Items and not every transaction. Please note that you
can also allocate journal entries to these accounts in Cubit! And you can re-allocate or unallocate easily…
We guarantee you the most comprehensive Business, Accounting and Payroll software ever, for more information or to arrange a demonstration on Cubit please call us on 0861004674
or email us on Please send me more information on Cubit Business Software please
3. Bank Reconciliation
Click on: Accounting -> Financials -> Show all Reports Option
a Report screen will appear. Under the heading ‘Banking’ Click on ‘Bank
Reconciliation’. Select the Bank Account you are going to Reconcile. Click on
‘View’, Enter the ‘Opening Balance’ and the ‘Closing Balance’. Reconcile the Bank
Account by ticking of the transactions. Click on ‘Update’ If the any of the Bank Accounts is In balance, Click on ‘Write’. On the Menu at the top click on ‘Print’. Select the printer
and click on ‘Print’ to print the reconciliation (When on the “White” screen)
4. PAYE/UIF
Click on Salaries -> View Paid Salaries – Select the required date range – At the bottom
of the report is all the totals for PAYE and the other accounts etc. For easy completion of your EMP201
5. VAT Report
Click on: Accounting -> Financials -> Show all Reports Option
a Report Screen will appear, under the heading ‘Other’ Click on ‘View VAT Report’.
Select the Type ‘All/Input/Output’, The Report ‘Total/Detailed’, enter the date to start and
the date to end and click on ‘View Report’. HINT: VAT 201 can also be completed from the VAT 201 Report. You can also use the sales report under the “Sales” menu option
TIP:
When doing creditor reconciliation look at the bottom part of the “Payment to Creditor” screen