Accounting software is a solution that gathers under the same roof all systems and applications dedicated to managing and processing financial data. Accounting professionals and bookkeeping teams use these programs to govern accounts and automate systematic operations, while certain systems are also enabled to record accounting data, measure indicators, and report on the company’s financial activity.

Objectives of Accounting Software

• Systematically record transactions, sort and analyzing them, prepare financial statements, assessing financial position, and aid in decision making with financial data and information about the business.
• The ability to create professional looking invoices.
• By connecting your bank account, your business expenses are tracked automatically.
• Some tools provide time tracking, so you know how much time certain tasks take.
• Incorporate online payment processing and accept credit card payments.
• Instantly see your profitability and create standard reports for financial statements, for tax purposes, and much more.
• Get all the features and insights on your mobile.
• Overall, the whole process of bookkeeping should become faster.
• Some things should be automated, such as VAT returns or bank reconciliations.
• The preparation of your quarterly and year-end reports and tax returns should be more straightforward.
• Lower your fees for your accountants, tax advisors, and bookkeeping.
• Freed up time that can be used for other more relevant business activities.
• Make better business decisions as a result of better and more timely information.

What we do:

We can assist clients to select or develop an effective & efficient accounting software to meet their businesses requirements.

There are two types of accounting software, where we can assist clients from selection to implementation stage:

• Off the Shelf software (Ready to use)
• Customized software (specially developed for some specific organization or other user) and the following are stages for developing a customized accounting software.

Analysis

• At first, it is to be ascertained what information is necessary for internal and external users. An information analyst is to identify sources of necessary information for collecting data and prepare reports and preserve them properly.
• Strength and weakness of an existing information system are to be identified for its analysis.

Design

• For formulating a new accounting system designing of forms and documents, sorting of the method and working process, preparing a statement of work, collecting techniques of control, preparing reports and selecting equipment are necessary.
• Slight changes are required for redesigning existing accounting information system.

Implementation

• For the implementation of a new or modified accounting information system, necessary documentary evidence of information, the process of methods and installation of necessary equipment etc. are to be activated.
• Employees concerned are to be given training and they are to be monitored closely.

Follow-up

• After the implementation of the accounting information system and making it workable, its weakness and breakdown are to be monitored very closely and its effectiveness and design are to be compared with organizational objectives.
• If needed changes are to be brought in its implementation process of design. Information system. This suggests that some accounting information systems are always unchangeable.