All businesses have the need for accounting software. It is required for tax compliance and reporting issues as well as banking relationships and borrowing and much more. Accounting software keeps a business on track with its budgeting and spending as well as its growth capabilities and free capital. Accounting process is now done through the use of such accounting software. It makes accounting much easier and less time-consuming and user-friendly.
Every business needs some methods of accounting software for income and expenses, so there are many choices. The general ledger functions and methods for recording income and expenses are likely to be similar between products, yet there is plenty of room for distinguishing features such as the ability to process electronic payments, sync with banks, manage and pay bills, generate invoices, run payroll and generate reports.
Perhaps the most important features of accounting software and systems are those involving reporting. The ability to see profit and loss on your balance sheet quickly and easily is critical and time consuming. Most accounting software solutions will let you develop custom reports, like profit and loss per month or per year by customer, and save those reports so that you can run them whenever the need arises.
The features of Accounting Software are :
- Financial Accounting (Multi-Currency)
- Inventory Management (Multi-location)
- Production / Bill of Material
- Sales / Purchase Quotations
- Sales / Purchase Order Processing
- Fully User-configurable Invoicing
- User-configurable Documents / Letters
- User-configurable Columns in Reports
- Mfg / Trading Excise Registers
- Service Tax & TDS
- MIS Reports & Analysis