Acc'ing Software - Cloud Accounting
Accounting software is an application software that records & processes accounting transactions within functional modules such as accounts payable, accounts receivable, payroll, and trial balance. It functions as an accounting information system.
- You can use our accounting software to run your business more effectively if your business is operating in one or more situations described below
- My sales staffs are always travelling and would like to see the invoice and sales data all the time
- My accounting staffs are working from home and would like to finalize the quarterly accounts by working from home and without visiting the office.
- I have the need to just record the invoices and receipts of my customers
- My accountant just uses journal entries to maintain all our company accounts
- My company has two branches/locations and I would like to maintain one single database and get the overall finance health of the company
- I am very keen on knowing the correct inventory levels of my store all the time.
- I want a Payroll system in my company for effective employee management
- And many more situations and needs....
Modules:
Accounting software is typically composed of various modules, different sections dealing with particular areas of accounting.
Core modules
- Accounts receivable — where the company enters money received
- Accounts payable — where the company enters its bills and pays money it owes
- General ledger — the company's "books"
- Billing — where the company produces invoices to clients/customers
- Stock/inventory — where the company keeps control of its inventory
- Purchase order — where the company orders inventory
- Sales order — where the company records customer orders for the supply of inventory
- Bookkeeping — where the company records collection and payment
Non-core modules
- Debt collection — where the company tracks attempts to collect overdue bills (sometimes part of accounts receivable)
- Electronic payment — processing
- Expense — where employee business-related expenses are entered
- Inquiries — where the company looks up information on screen without any edits or additions
- Payroll — where the company tracks salary, wages, and related taxes
- Reports — where the company prints out data
- Timesheet — where professionals (such as attorneys and consultants) record time worked so that it can be billed to clients
- Purchase requisition — where requests for purchase orders are made, approved and tracked
- Reconciliation — compares records from parties at both sides of transactions for consistency
- Drill down
- Journals
- Departmental — accounting
- Support for value added taxation
- Calculation of statutory holdback
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