An Overview

Diamond Office completes the full circle of diamond trading—from procuring roughs to selling polished diamonds. Diamond office comes along with full business accounting. It comprises some of the best features from industry-leading accounting solutions plus a wealth of built-in tools.

Modules
	•  Masters
	•  Inventory
	•  Sales
	•  Purchase
	•  Bank Advance
	•  Financial Accounting
	•  Tools
	•  Administration

Few of functional features of Diamond office are

Chart of Accounts/ Account Head
Account Head Master helps to create and maintain your company's Chart of Accounts whose primary use is to group your account heads. Diamond Office 360 provides a ready chart of accounts which contains predefined groups and sub-groups that cover the basic financial transactions of any company. This chart of accounts is maintained using a multi-level tree.

Diamond Office 360 does not allow you to create a new group. However, you may rename the predefined groups. You can create an account head directly under a group.

Cost Center
Define a Style sets such as One Bracelet, one Ring and One Necklace as a Sets.

Item Master
Here User can define different parameter for a item like Color, Size, Purity, Clarity etc……

Stock Setting
Through Stock Setting Option company can decide how to maintain inventory, like different parameter wise color, size etc. .Along with parameter company can keep stock employee wise or purchaser wise also

Lot Creation
Lot is the unique identity in stock. Lot will be created on basis of options you have checked in stock setting

Purchase
Purchase transaction Helps to keep the information of Purchase details like Purchased item detail, party details, Different charges on purchase and net payable to party. On the same time it manages the accounting effect of credit and cash purchases. It handles local purchases as well as Import. For example, purchase of raw materials from a supplier.

Expense
Expense vouchers manage the accounting effect of all credit expenses. For example, paying monthly rent for the office.

Jangad Issue
Through Jangad issue Raw material are issued to different job-worker OR Factory for processing . The issued quantity will be deducted from the stock.

Jangad Receipt
This is the receipt confirmation of items received from job-worker or from factory. Item will be added into company stock in different lot and category

Labour Bill
Labor bill gives all the details abut the qty of item issued, qty of item received, process loss, rejected qty and Process Expense Which goes automatically to Particular ledger in Accounts

Payment
Payment vouchers manage the accounting effect of all cash and bank payments. For example, payment made to a party by cash or identity for goods and services, or settling electricity bills by cheque. You can pay the full amount or partial amount towards payment settlement.

Sale
Sale Transaction helps us to keep information about local sale as well as Export. It stores all valuable information about customer, concern bank, Payment terms, bank terms and the charges during sale/Export. On the same time it manages the accounting effect of all credit and cash payments. For example, sale of goods or services to a customer.

Receipt
Receipt vouchers manage the accounting effect of all credit and cash receipts towards sales. For example, sale of goods or services to a customer.

Loan Types/ Loan Rules/ Interest Slabs
The first procedure for using the Bank Advance module is to specify the type of advance/loan that your company shall avail from its bank. Diamond Office 360 has the following predefined types of loans:

Shipping Bill
'Shipping Bill' is a document filed by an exporter as an entry for the purpose of export by air or sea, and a bill of export for the purpose of export by land. The shipping bill is prepared after making the packing list and invoice and it provides information about the shipper and the consignee. It is presented along with the export invoice as part of the documentation when applying for an advance for the particular export.

Bank Covering Letter
On dispatching the export consignment, the company receives the relevant shipping documents. Once the shipping documents are received, the company prepares additional documents and submits the same to its bankers along with the export invoice, for onward mailing to the consignee's bankers, in the case of a bank through shipment. In the case of a direct shipment, the banker mails copies of the invoice directly to the consignee

Loan Application/ Sanction/Loan Application
Records details about the loan application which describes the particular type of advance that the company seeks from the bank. In the case of a PSC advance, an application can be made by selecting one or more export invoices. In the case of all other advances, you need not select export invoices. Loan Sanction records details of sanctioned loans. You can specify details about an availed advance in general, and adjust or repay a PC advance through an availed PSC advance in particular

Export Realization
'Export Realization' refers to the process of adjusting or repaying a bank advance from the proceeds of a realized export sale. In this, you receive the payment for a particular export sale made to a foreign buyer, and use the payment to repay an advance taken for that export or another export.

Import Remittance
'Import Remittance' refers to the process of repaying a bank advance taken for an import purchase. In this, you make a payment to the bank for a particular import purchase made from a foreign seller.

Forward Contract
'Forward Contract' is a legal contract between your company and the bank to exchange one currency for another currency at an agreed exchange rate at a future date, usually 30, 90 or 180 days. This is used to minimize currency fluctuations.

Renew Forward Contract
Renew Forward Contract is used to renew a forward contract which are cancelled. You can select a cancelled contract and renew or rebook the contract for a further period.

Merging Of Ledgers In Diamond Office
Account information is arranged in a manner that merger of accounts can be done easily. Accounts for the current company and location can be merged or consolidated to other accounts.

Current Balance Updation
Since transactions are updated in real time in Diamond office 360, the current balances for all ledgers are always up-to-date. However, should you encounter current balance that is not updated for any reason, use Current Balance Updating as a handy tool to update all current balances immediately.

Features

• Manage Purchase and Sales Accounts with ease
• Manage General Ledger including Bank Reconciliation’s and Trial Balance.
• Compiles Business Accounts by including depreciation
• Preview anytime, essential information like Balance Statements, Cash Flow and Bank Transfer
• Support for Multiple Financial Year with a Year End Procedure Module.

Benefits

• Bridge Integrated with other solutions from Powernet including Goldsmith for Gems and jewellery manufacturing
• Multi-Location functionality to maintain and transact accounting entries at branches with data merging at head office
• Multi-Currency support, maintains balances in two currencies by defining one currency as a Base Currency for the system
• Administrative Utilities for assigning Application, Module, Form level security.
• Enables you to make accurate forecasts, track spending and control costs.
• Manage accounts for your inventory, manufacturing and retailing operations.