Visit www.icaass.in on your internet bowser (Google chrome recommended).

You can create your account on iCAASS and avail services for free for 14 days using ‘Free Trial’ offer.

SIGN UP by providing basic information like:

• Your Name
• Valid Email
• Valid Mobile Number
• Company / Firm / Society / Entity Name and address

Once you submit, your credentials would be sent to your Email. You are good to go!

Yes.

You can manage multiple companies (or) entities with a single registration, though you need to purchase separate licence for each entity.

You can see the summary of all your companies/entities in a single dashboard.

You can file consolidated financial returns with respect to all your investments, profit or loss.

With the convenience of Auto-eFiling and Audit Services with a single click, you can save upto 80% of time. All under one roof!

To view a Ledger Account with voucher details, please follow the below steps:

Goto side panel tree view and select:

• Financial Reports >>
• General Ledger >>
• Select required Ledger >>
• Give Date as required >>

You will see the General Ledger of the selected ledger for the selected period with running and cumulative balances.

Export it to your desired format viz., Excel, PDF or Word.

Yes.

Goto side panel tree view and select:

• Financial Reports >>
• Day Book >>
• Select the Period >> Enter

Enjoy to see your required report.

Go to the side panel tree view and select:

• Financial Reports >>
• Receipts & Payments >>
• Select the dates >> Enter

Your report is ready!

Yes. This is one of our unique features.

iCAAS Suite is premeditated in such a way that you can customise your entities based on the “User-Role Module Access”.

Customized role based approval for each transaction enables the deciding authority to approve a specific transaction or to reject it.

A special role can be created for your Auditor who will be empowered to validate/correct transactions on a real time basis, without waiting till the end of financial year.

Yes.

The bulk summary migration process has to be done through the admin login. You can migrate the data from one company and merge it with the existing company.

You can also do transaction-wise bulk migration of data. All the users can now see the previous data in a much better format and customized chart of accounts.

Of course, yes.

iCAAS Suite provides export options to excel, PDF and word formats with As-Is content formats.

In any accounting application/software, there is only one way to rectify such a transaction, which is nothing but either editing the voucher entry or deleting the voucher or reversal of entry. But, you now have a wiser option with iCAASS to meet the prevailing Accounting Standards.

Every payment/receipt through bank will not directly effect the creditor/debtor ledger. There will be a mediatory ledger called “Bills for collection”, where the transaction at the first instance dealt with only bank and ‘Bills for collection’ but not creditor/debtor ledger.

Once after confirmation as regards to passing of cheque/credit deposit, the iCAAS Suite will alert the user to confirm and insert the transaction to creditor/debtor ledger.

As such, any bounce of cheque wither in payment/receipt will attract only bank ledger with bank charges debited by bank without disturbing the account of creditor/debtor ledger.

iCAASS Dynamic Alert Mechanism (DAM) alerts the user in future transactions with such creditor/debtor ledger.

In general, every accounting software provides an easy option to edit or delete the transaction from the database.

In order to safeguard your business interest, we have created an unique process to edit or delete this data. Since iCAASS runs entirely on role based process flow, the lower hierarchy cannot delete any data once the transaction is approved by the upper hierarchy. Your subordinates cannot edit or delete any information, once you approve the transaction, making sure your data is safe.

Further to this, your Auditor’s objections or suggestions shall be notified to you on a concurrent basis. You can then give permissions to your subordinates for further course of action.

Edit or delete is provided at Daybook, Cashbook, Bankbook and Traditional Cash-Book modules in the Side Panel Tree view.

Yes.

Our Artificial Intelligence based DAS (Dynamic Alert System) processes each transaction through multiple parameters on a real-time basis and identifies if there is a breach. It suggests rectifications/ recommendations for every manual mistake; making sure Every Entry to be a Right Entry (EERE).

A simple example is that, until there is a Credit Balance in Accounts Payable, any transaction that is supposed to be debited to that account will be a wrong entry. Similarly in case of receivables, unless there exists debit balance, any credit transaction to the receivables would be a wrong entry. iCAASS follows GAAP (Generally Accepted Accounting Principles) and AS (Accounting Standards) in every transaction and alerts the user for any such wrong entry. Hence the question of negative balances doesn’t exist.

In some particular cases, iCAASS can allow this with an alert to Business Owner or Auditor, as per a specific requirement.

iCAASS provides a separate process for Quotation, Order and invoice Management for both purchases and sales.

Inventory Management feature allows users to create Stock Hierarchy in Groups, Sub-Groups and items duly assigned to the ledgers in the balance sheet and trading account.

As such every sales/purchase process is dynamically dealt with all the details of Stock, Suppliers/Customer details and terms of the Purchase/Sales, payment mode for the Purchase/Sales, etc.

iCAASS empowers you with sophisticated logical process for every hypothetical scenario that is being faced by the user on a day to day basis.

iCAAS Suite does end to end accounting under a single platform, making us unique.

We have a pool of CAs who work in the backend and works on the Certification process. You can select these services in our Pricing page.

iCAASS has basic features from simple accounting and bookkeeping to advanced features like auto e-filing and audit certification.

Yes. It’s possible with some additional extensions.

iCAASS provides external plug-ins to integrate existing CRMs. The seamless integration can be done without any loss of data or existing process.

Yes.

iCAASS plug-in, extension, APIs and switches support barcode scanner or POS tool kits.

Every transaction dealt with these tools will be integrated into iCAASS and can be viewed in every report without any manual entry.

That’s the whole point. You don’t need to have much knowledge.

iCAASS has a robust support system that will enable you to setup business accounting process for your organisation.

And if you have basic knowledge, you can operate iCAASS on a DIY mode, comfortably.

Yes.

Independent/separate database is deployed for users in respective servers. One person from client’s side and another person from iCAASS side shall have to authorize the login for any further modifications or updates.

Cost for separate database is dealt on a case to case basis depending upon the required modules and specific requirements.

You would be provided with a storage space of 5GB. You will be alerted regularly on available free space on a regular basis. You will be allowed to pay and upgrade space on Pay-As-You-Go model.

You will be provided with min (9) users in one license.

However all these users can access only one company data from any location any time.

Out of these users, if one is part of another company (license) also, then the specific user can access multiple companies data, but other users will not have the access to the other company.

iCAASS is covered under backup service, risk management as well as disaster recovery.

Further, a backup of database is replicated on cloud in multiple servers.

Should you require backup of your data, iCAASS provides backup of transactions, reports in excel, PDF and word formats. Xml and XBRL format backups are also available for technical backup mechanism.

iCAASS data security and encryption practices viz.,

• --> Enforced multi-factor authentication
• --> User role based access control (RBAC),
• --> Encrypted virtual machines
• --> Hardware security models
• --> Secure Workstations
• --> SQL data encryption
• --> Data in transit protection
• --> Enforced file level data encryption

This helps in protecting client data on-premises and backup servers on the cloud.

iCAASS billing is on Pay-As-You-Go model. So its simple.

The cost is calculated on Gross Transaction Value / Turn-over (GTV), Number of Users and Type of Services. The minimum GTV is considered as Rs. 10 Lakhs per annum.

As such, once the user purchases the license depending on the expected GTV, user is allowed to utilize all the functionalities of iCAASS till the GTV reached the max limit of the purchased value. Then the user can recharge / renew as per their convenience, almost like a mobile prepaid recharge.

Any shortage (lesser GTV) will be carry forwarded to the next term.

E.g.: User-A purchased a license of 30 Lakhs GTV for FY 2019-20. But the GTV does not reach the max limit of 30 Lakhs at the end of FY 2019-20 and they only touched 20 Lakhs. Then the proportionate shortage beyond 20 Lakhs is the Cash Back Value for the User. If GTV is 8 Lakhs, then Minimum 10 Lakhs will be considered.

iCAASS has the following Vouchers;

• --> Purchase Voucher
• --> Sales Voucher
• --> Payment Voucher
• --> Receipt Voucher
• --> Contra Voucher
• --> Journal Voucher
• --> Credit Note Voucher
• --> Debit Note Voucher

Moreover, to make it user friendly, iCAASS has a place-holder where the user can enter all transactions through all vouchers without moving out of the page.

Migration of old data into iCAASS can be done manually or through the system.

Manually :Goto side Admin Panel

“Ledger Opening Balance” for ledger-wise Opening Balance, upload using Financial Year End date as ‘Date of Migration’.

“Manual Migration” for bulk migration of Opening Balance together with sum of transactions held during the current FY till a specific date.

System Driven : User may be using any other Accounting Software. iCAASS Migration Team will help you upload and migrate old data from backup files of the respective accounting software.

“Traditional Cash Book” (TCB) is an unique feature of iCAASS that provides convenience to the user and makes it easy to enter transactions at a single place i.e., Day Book. Very similar to the manual bookkeeping method.

User can simply enter transactions vouchers right from TCB without going to any other module.

Please see TCB module in the side panel.

Compliance requirements are mandatory for every Entity / Company / Firm in India such as the following:

1. Compliance Audit
1. Compliance requirements
2. Risk of Non-compliance
3. Quarterly Analysis
4. Half yearly Analysis
5. Annual Analysis


2. Internal Audit
1. Budget Audit & Analysis
2. Cost Audit & Analysis
3. Operational Audit & Analysis
4. Project-Wise Audit & Analysis
5. Receipts & Payments Board Approval
6. Annual General Meeting Approval
7. Statutory Audit


3. Audit Certificate
1. Audited Balance Sheet
2. Audited PL Account
3. Quarterly Analysis
4. Half yearly Analysis
5. Annual Analysis


4. Tax Audit
1. Tax Audit Analysis
2. Tax Audit Report

Audit and Analysis module is an unique feature in iCAASS, which is not available in any accounting software.

iCAASS provides auto generated reports in this module.

iCAASS provides services for finalization of Audit of the user by the aligned Chartered Accountant and go for filing of e-Returns.

User doesn’t need to spend time anymore for finalization of Audit, e-Filings, etc.

The following features & benefits are available in Accounts payable:

• Supplier / Vendor records and alert management.
• Payment date calculation and alert to the concerned.
• Suspicious / unusual / duplicate payment alerts
• Avoid reconciliation hassles and cash flow drama with electronic funds transfer support
• APS - Advanced payments schedule
• Purchase order reconciliation with reference to accounts payable
• Document attachment for transparency and accountability

The following features & benefits are available in Accounts Receivable and Billing:

• CRM and customer accounts management
• Customized invoice creation together with application of GST taxation
• Custom accounts receivable terms and conditions
• Sales attributions and dealer/agent management
• Recurring invoices and balance-forward
• Invoice duplication alert and good in transit facility
• Envelopes, receipts, reminders, credit notes, pack slips
• Estimation and quoting to customer record maintenance and alert for next level discussions
• Email invoicing, EFT support, promotions, coupons, rebates
• Customer credit management

The following features & benefits are available in Budgeting and Forecasting:

• Forecasting and Visualizing budgets as per previous incurs
• Purchase & Sales forecasts
• Actual variance reporting
• Rolling budgets on approvals

The following features & benefits are available in Cash Management:

• Bank reconciliation
• Cash flow analysis and positioning
• Alert mechanism for extreme cash flow

The following features & benefits are available in Fixed Assets:

• Multiple depreciation formulas as per general taxation principles

The following features & benefits are available in General Ledger & Financial Reporting:

• Double entry, accrual accounting, flexible accounting periods, flexible account codes
• Balance sheet, profit and loss, chart of accounts, financial statement consolidations
• Statistical accounts, departmental tracking, inter-company transfers, automatic reversing entries
• Fund accounting for non-profit and government organizations

The following features & benefits are available in Inventory:

• SKU tracking and stock counts, supportable Bar-coding or RFID, Serial number or lot tracking
• Location tracking & movement history, product movement history
• Price management, stock level alerts, average cost options, landed costs Analysis
• Unit of measurement conversion, Job costing
• Estimate vs actual reporting, customizable cost breakdowns

The following features & benefits are available in Payroll:

• Tax withholding calculation, Benefits deductions, Payroll forms, ESOP Calculations
• Time and attendance, Employee self-service, Electronic tax filing
• Prevailing wage and certified payroll
• Tips, vacation pay, bonuses, commissions

The following features & benefits are available in Purchasing:

• Purchase orders, Purchase requisitions, Auto-generated POs
• Vendor management

The following features & benefits are available under Security aspects:

• Role-based authentication & user privileges
• Audit trails
• End to end Encryption
• Automatic day to day data back-up
• Locked reporting periods

The following features & benefits are available in System aspects:

• Search engine tools
• Simple import/export at your figure tips
• Windows-based Entry of Transaction & Web-based approval of Transaction
• Web-based entry and approval
• Android & iOS-based approvals (under process)
• Unlimited records, Custom reporting, Report templating
• Multi-currency, Integration APIs to existing CRM, PoS, HR, or any other existing applications
• Keyboard shortcuts,
• Graphical management dashboards
• Configurable alerts

Any migration is based on Financial Year start date. iCAASS provides migration of data in the following ways:

1. Migration as on FY Start Date :-
1. Manual : Manually migrate ledger wise migration in side panel “Ledger Opening Balance” available in Admin module.
2. Upload : Migration of data either from excel, tally, quickbooks will be done in coordination with the Support Team of iCAASS, once the license is purchased..


2. Migration on any date between FY Period
1. Summary Migration : User can migrate bulk transaction summary ledger wise in the side panel “Manual Migration” by duly giving the Opening Balance as FY Start Date and summary of Debits and Credits between start date and cut-off date.
2. Transactions Migration : Opening Balance as on start date of FY be migrated as said above (1.1) and current period transactions may be migrated through Upload as said in (1.2).
3. Regular Process :After migrating the Opening Balance, user can choose day wise transaction entry from start of FY to Cut-Off date.

iCAASS periodically generates GST reports in excel format as per the transactions entered by the User from time to time. User can export the data file and send it to their respective Return filing Accountant periodically.

For clients who opt for a plan which includes Auto e-filing, Users can view the generated GST reports periodically and give their consent to file GST returns. Once the consent is received, iCAASS Auto e-Filing Process Team will file the returns in the GST portal dynamically duly intimating the User through email. iCAASS Auto e-Filing Team shall coordinate with the user for any queries / payment of GST. User needs to pay the GST amount online. The entire process is done online and the user doesn’t need to step out of his or her premises.

iCAASS periodically generates Income Tax Returns (ITR) in excel format as per the transactions entered by the User from time to time. User can export the data file and send it to the respective Return filing Accountant periodically.

For clients who opt for a plan which include Auto e-filing and Auditing, Users can view the generated returns periodically and give their consent to file the concerned returns. Once the consent is received, iCAASS Auto e-Filing and Auditing Process Team will file the returns in the Income Tax portal dynamically duly intimating the User through email. iCAASS Auto e-Filing and Auditing Team shall coordinate with the user for any queries / payment. User needs to pay the Income Tax amount online. The entire process is done online and the user doesn’t need to step out of his or her premises.

iCAASS application is a web application which can be accessed from any device viz., Desktop, Laptop, tablet or a smartphone. iCAASS is built with responsive designs compatible for mobiles, tablets and smartphones.

The advantage of smartphones is that, User can upload the snapshot of the supporting document right from the mobile without going for scanners as required for desktops and laptops.

Yes.

iCAASS provides a track record of payments to be made to suppliers as per the terms of purchase / transaction.

iCAASS Dynamic Alert System (DAS) alerts users, the status of products supplied by the respective supplier while payment is being made. User can take into consideration the alert message and choose to hold payment or return the unsold products.

iCAASS will populate at the time of transactions about the overdue payables in the first instance, showing the impact of penalties to be paid in future and also show the impact of Cash Flow and fund Flow with percentage of loss incurred by ignoring this alert. It also alerts any payment which is being done before the due date.

iCAASS alerts any payment of invoices before receipt of the product or service from a defaulted supplier. It tells you how to select a suitable supplier within the network and traces the invoices if it is repeated.

iCAASS application server and database is hosted on multiple environments on Azure Cloud with auto synchronized clone database, which is configured with disaster recovery site. Hence at the time of extreme data loss or application server crash, as the case may be, the disaster recovery site will be activated dynamically in a few minutes.

Hence the question of data loss does not arise in iCAASS.

In any accounting application / software, there will only be one way to rectify such transactions, which is nothing but either editing the voucher entry or deleting the voucher or reversal of entry.

But, such a transaction is handled wisely in iCAAS Suite, and makes you abide by the prevailing Accounting Standards. Every payment/receipt through bank will not directly effect to the creditor/debtor ledger. There will be a mediatory ledger called “Bills for Collection” where the transaction at the first instance will be dealt with only Bank and Bills for collection but not creditor/debtor ledger directly.

Once after the confirmation as regards to passing of cheque / credit deposit, iCAAS Suite will alert the user to confirm and insert the transaction to creditor/debtor ledger.

As such, any bounce of cheque weather in payment / receipt will attract only bank ledger with bank charges debited by bank without disturbing the account of creditor/debtor ledger.

The smart iCAASS Dynamic Alert Mechanism (DAM) also alerts the user about such transactions in the future, in case of such creditor/debtor ledger.

Accounting process is purely dependent on “Chart of Accounts” and iCAASS has inbuilt / predefined ledger hierarchy as follows:

iCAASS by default creates pre-defined Chart of Accounts (Ledger Hierarchy) depending upon the type of business selected by the User while creating their Entity / Company / Form.

Beyond the predefined Chart of Accounts, User is allowed to create their own Ledgers, Sub Groups, Groups as per their requirement. The option is allowed to the user assigned with Entity Admin role only. As such Business Owner will be knowledge of every new chart of accounts / ledger created.

Yes.

iCAASS has a separate module called “Ratios Analysis Module” where all the financial ratios are dynamically generated on the selected dates. User is allowed to migrate the previous years summary data for ratio purposes. Though, certification of such ratios by the iCAASS Auditor Team will cost additionally.

The following statements can be generated and shared to any one you require:

Yes in due course.

You can link your bank records with iCAASS, and you no longer need to manually upload transactions in iCAASS so that reconciliation becomes a whole lot easier. iCAASS provide bank feeds for current and call accounts, term deposits, loans and credit cards. Using your credentials, you can create a payment file that can be uploaded directly into Internet Banking. This will pre-populate up to 20 payments at once.

iCAASS provides a track record of payments to be made to suppliers as per the terms of purchase / transaction.

iCAASS Dynamic Alert System (DAS) alerts users, the status of products supplied by the respective supplier while payment is made. User can take into consideration the alert message and hold payments and return the unsold products.

iCAASS will populate at the time of transactions about the overdue payables in the first instance showing the impact of penalties to be paid in future and also show the impact of Cash Flow and fund Flow with percentage of loss to be incurred by ignoring this alert. It also alerts those payments which are being done before the due date.

iCAASS alerts any payment of invoices before receipt of the product or service from the defaulted supplier. It tells how to select a suitable supplier within the network and traces the invoices if it is repeated.

iCAASS provides a min of 9 users for each Entity/Firm/Company.

Out of which, following (3) are reserved for:

1. Compliance (User may provide to the Authorities)
2. Auditor (User may provide to the concerned Auditors)
3. Admin of the Entity/Firm/Company (Usually Business Owner)

The remaining (6) users can be allocated to the staff / support teams / proxy / branch offices, etc. They can be disabled at any point of time by the admin.

Hence, iCAASS allows access to (9) simultaneous users at any point of time. It can be increased at additional cost as per business requirements.

Yes.

As mentioned in ‘Migration’ FAQ, there is a provision of bulk migration from excel, tally, quickbooks and other formats of accounting software where Business owner can migrate old financial statement into iCAASS.

iCAASS migration team can also help in the process of migration.

There is a price calculator on www.icaass.in where you can get the exact pricing.

The minimum Annual Turnover is considered as Rs. 10 lakhs.

The following provisions are available in iCAASS for stakeholders. Business Owner is at liberty whether to assign the role to them or not. Unless they are assigned, these will be in inactive mode.

Please see the following:

Yes in due course.

You can link your bank records with iCAASS, and you no longer need to manually upload transactions in iCAASS, and reconciliation becomes a whole lot easier. iCAASS provide bank feeds for current and call accounts, term deposits, loans and credit cards. Using your credentials, you can create a payment file that can be uploaded directly into Internet Banking. This will pre-populate up to 20 payments at once.

iCAASS periodically generates Income Tax Returns (ITR) in excel format as per the transactions entered by the User from time to time. User can export the data file and send it to their respective Return filing Accountants periodically.

For clients who opt for a plan which include Auto e-filing and Auditing, Users can view the generated returns periodically and give their consent to file the concerned returns. Once the consent is received, iCAASS Auto e-Filing and Auditing Process Team will file the returns in the Income Tax portal dynamically duly intimating the User through email. iCAASS Auto e-Filing and Auditing Team shall coordinate with the user for any queries / payment. User needs to pay the Income Tax amount online. The entire process is done online and the user doesn’t need to step out of his or her premises.

Yes.

This is an unique feature in iCAASS.

Each transaction is enabled with scan or snap and attachment of supporting documents, which is admissible as electronic record for all the purpose without further proof of providing originals.

As such, iCAASS offers complete solution, from storage to safeguarding of documents for years together for future scrutiny by Authorities.

Yes.

iCAASS is provided with inbuilt parameterised transaction verification for each and every transaction, to help the business owner a clean and compliance accounting for the his or her business. It is generally accepted fact that, when there are many verifications cross checks, AI DAS is working in the background. iCAASS obviously would beed 3 to 5 seconds for every transaction.

iCAASS has an unique component called “Batch-Transactions”, where user can select and club previous multiple transactions and use the same with slight modifications if any, and process bulk transactions as a batch transaction.

In fact, a number of organizations disappear to exist within a period of 2 years of their incorporation because they have suffered one or more unpaid invoices from their customers / clients. The vital cause is ignored due to lack of knowledge on Credit Management of a Organization.

iCAASS Credit Management is an unique double edge feature. On one hand AI DAS (Artificial Intelligent Dynamic Alert System) alerts the user in defining the cost estimation, while invoicing to the client duly popping-up a predictive analytical suggestion basing on the previous transactions with that client and possible days of receivable amount together with risk / impact of delayed receivable on the working capital of the organization.

To control and optimize the risk, iCAASS on the other hand provides a special login for Bankers on the trade receivables from your clients, so as to enable the Bankers to enhance the credit limits provided to your organization.

iCAASS Credit Management is therefore a very powerful tool to identify the dysfunctions of your organization internal processes and then correct them right at the occurrence of risk.

Access to Bankers / Special Login to Bankers in iCAASS is an optional role provision made available, which is purely within the hands of the Business Owner whether to provide access / role to Bankers or not.

Once the Business Owner creates a user for the role of Banker under the admin module, the respective Banker can view the published reports viz., Audited balance sheet, Audit Certificates, e-Filed GST Returns and Tax returns and Tax Audit Reports, Financial Ratios and Analysis Statements generated dynamically by iCAASS. Further, any banker who provides business loans depending upon the current receivables, trade receivables, projects / deals under process, project development plans, etc.

A transparent view of deals / projects under process, trade receivables shall obviously enhance the credibility of your organization and let Banker to provide additional credit facility.

Yes.

Under Credit Management, all the financial Ratios generated by iCAASS shall have to be certified by the Chartered Accountants / Company Secretaries / Cost Accountant, as the case may be.

Un-Audited Balance Sheets / Provisional Balance Sheets for the current financial year well before the financial closing or prior to audited balance sheets / Tax returns, these Certification is mandatorily required by the Bankers for providing ad-hoc credit facility / additional financial aid / additional credit limits.

Please go the Admin Module or Inventory Management module under side panel tree view to add the Supplier to your Organization. However a supplier may be added right from Purchase Voucher without even moving out by using “Alt+C” functionality at Search Supplier textbox.

Every page has a help document and a help video, so that the user can understand the process flow instantly and proceed further.

Under the side panel, we can find Supplier / Vendor Management module where the entire history / transactions / stock flow / payments made and to be made / Overdue payments / Days of Stock supplied by the Supplier can be viewed by the user for taking a dynamic decision on the further transaction with the supplier / vendor.

iCAASS is mini network of business. Once the business owner provides the user credentials to their respective supplier, then the entire process of Purchase Quotations, negotiations, Purchase Order, fulfilment, Goods under Transit, supplier payments can be seen at one place.

Added feature is that, entire Suppliers Newsletter / notifications on the new products / services can be viewed and analyzed by the business owner for their requirements.

Reconciliation is a method of mutual acceptance. In every business one or more debit note or credit note will be there between business to business. While finalizing the financial reports, the reconciliation between businesses is essential for a better accounting process. The trade payable between you and your suppliers / trade receivable between you and your customers / debtors are to be reconciled periodically and at the ending of the FY. The process of reconciliation shall consume time and efforts.

iCAASS Reconciliation process is dynamic, which alerts both the parties through emails periodically for their reconciliation / acceptance of Payables or Receivables.

Further, both the parties can provide their feedback on the transaction which helps the business owner for growth of the business.