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Solutions for FPO

About ABSUITE

Blazing fast regulatory reporting for FPO's using AB COMPLIANCE

a repository of regulatory reporting formats. A configurable tool for FPO's

AB-Compliance is part of the AB-Suite of products that helps FPO's to generate the financial statements to comply with the annual regulatory reporting. AB-Compliance takes the trial balance as the input and generates the following regulatory financial statements:

  • Balance Sheet
  • Income Statement / Profit and Loss Account
  • Directors Report
  • Management Report
  • Chairperson Statement
  • Internal Auditor’s Report
  • Statement of Financial Position
  • Statement of Profit and Loss
  • Changes in Member’s equity
  • Statement of Cash Flows
  • Notes to Financial Statement

 

AB-Compliance ships with a set of templates for each of these financial statements so that FPO's can generate their Financial Statements the moment the application is available to them. Additional templates can be created by the FPO's at the global level or be purchased. Templates can be modified for an audit or for a client.

Financial Statements can be generated and cheeked, corrections can be made to the trial balance by passing journal vouchers, changes can be made to the  explanatory statements of the reports before the a final version of the statement can be generated in a PDF or Rich Text Format (compatible with most word processing software) format.

Using AB-Compliance to generate financial statements offers auditors and their client several benefits like -

  • The ability to cope up with frequent changes in financial regulations by governments
  • The ability to make make minor modifications to financial statements due to notifications on existing existing regulations 
  • No overhead in deploying the AB-Compliance as its available as a service (unless you have opted to have it installed in-house)
  • Capability to handle most time of financial statements with reasonable limits on payload of content that can be transmitted over the network.
  • Integration with popular spreadsheets like Excel, Open Office Calc, GNU CAsh etc.
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About

Sastra Technologies is a technology firm that serves new age Fintech companies, Small Finance Banks, payment Banks, Banks, Non-Banking Financial Companies and Financial Institutions. Our philosophy is to develop products that are cost effective so that our clients derive value using them. For the last 7 years we have done so by embracing cloud technologies and developing unique capabilities that allow us to offer a value proposition that is unmatched in the industry today.