ADVANTAGES OF ACCOUNTING SOFTWARE

Accounting Software automates and accelerates the work of an accountant or bookkeeper by reducing or simplifying recurring tasks like paying bills, entering double entries, issuing of invoices and generating several types of financial reports. These days various Accounting Software has an auto-matching feature which facilitates the performance of monthly bank reconciliation. With the introduction of Cloud Accounting Software , it brings immense convenience to users by allowing them to simply record transactions, retrieve accounting information, issue invoices and produce reports on the go, anyplace and anytime. For businesses, such convenience at a reasonable cost only means bigger adoption of the Accounting Software over the years. We trust its popularity will keep on going. New buyers made up a major portion of the market for accounting software last year, at 37 percent. More companies are finding that inheritance accounting systems can’t stay up with their needs and say th...

Advanced Analytics & Forecasting Many reports say hiring professionals with skills in predictive and prescriptive analytics is important. This includes data analysis expertise, which promises to bring greater control to the Finance function. There are huge amounts of information that can expose significant insight and improvements when harnessed suitably. Simultaneously, technical expertise in cybersecurity is necessary to cope with the risks that big data can fetch. Robotic Process Automation Estimated to greatly enhance productivity, automation threatens to make many Finance and Accounting roles outdated. As technology streamlines processes and eliminates inefficiencies, the focus shifts to building a highly planned Finance team that acts as an exact business partner to both internal and external stakeholders. Cloud & SaaS Cloud & SaaS technologies allow for the reformation of processes as several parties can easily access the same information, also increas...

Here’s everything you need to know about the day after Tax Day, and how you can prepare yourself so that you’re not caught off guard by competitors who refuse to acknowledge the existence of their vacation days. The medicine that’s the most bitter to consume is often the most successful get therapy, which is why accountants and tax professionals would like to fold up and ready to work, despite the fact that they’re most likely readier than ever for a break after Tax Day. While it’s undeniable that the accounting and tax professionals deserve an extensive breather after the unbelievable workloads they deal with every year as Tax Day draws near, the competitive reality is that in today’s marketplace, you can’t really afford to take a day off so soon. Yes, as sour as it is to confess, most accounting professionals need to admit that the day after Tax Day needs to be spent gearing up for next year and that your clients will soon be flooding you with questions yet again. First ...

Singapore Accounting Software performs both the accounts payable and receivable functions. It produces detailed analysis reports like Customer Account Receivables Analysis Report, Sales Analysis Report, Bank Reconciliation Report etc can be auto-generated and gets updated automatically after any data inputs and adjustments giving a real-time view of the business and financial status. The daily use reports like Balance Sheet, Profit & Loss Report, Trial Balance, and Cash Analysis Report are also available in the application. Accounts Payable Track obligations to suppliers, control cash flow, and speed data entry with the accounting applications in Accounts Payable. Produce a wide array of pre-designed reports, and take advantage of the flexibility to pay all invoices, prepay selected vendors, or split invoices for payment. With Accounts Payable helping you prioritize your payments, you can: Save time and money with the ability to review outstanding payments by the v...

To manage easily and scale your business with a retail point of sale systems (POS) from Singapore Accounting Software . Touchscreen retail POS uses Windows-based software for the food & beverage (F&B) establishment as well as for the merchandise (Retail) outlets. EZ Point of Sales is designed for Microsoft Windows platform and is suitable for any retail businesses. Its user-friendliness, easy to learn, and feature rich characteristics are well received by our customers. POS Software Interface of touch screen icons can be customized to suit every trade of business needs. Functional buttons can be turned on/off, rearranged, re-named or password protected. Related to billing & inventory software, retail POS software has the fundamental function of inventory such as stock control, stock takes report and item condition and reporting to you to examine your inventory movement details. We gave priority to performance & stability of our Points of Sales software . Us...

Once you decided to register company in Singapore, it is essential that you know the type of business entity that you want to incorporate. Your decision can influence the amount you pay in taxes , the image and insight of your business among your clients and suppliers, formalities for your business is required to do, the personal accountability you face, the ability to have a loan of money, and the possibility to expand your business. 1. Limited Liability Company A Limited Liability Company (LLC) is a company limited by shares i.e. its liabilities are limited to the amount of share capital. LLC is a business entity registered under the Singapore Companies Act and a separate legal entity from its members. In a LLC, the liabilities of the owners are limited to the assets in the company and their individual assets are protected from business liabilities. A Singapore LLC can be of the following types: Private Limited Company (Pte. Ltd.): This type of LLC is a first choice for a...

Singapore Accounting Software aims to simplify business management system, in order to that they develop an inventory software.  It is designed to be as intuitive to use as possible, so after a speedy installation, you’ll be well organized your inventory processes within minutes. The UBS inventory software made by Singapore Accounting Software has the following powerful tools and functions which helps management greatly in their daily operation function. Different level of data access security Real-time update of stock item Multi-currency transactions, Multi-location reporting Multi-delivery order to 1 invoice Assembly of Bill of Materials Detail B.O.M Reporting Multi-Users, company, delivery address Accurate costing method Unlimited formula for stock computation Serial number tracking Forecast quantity of items Multi-level of quick and fast search function of inventory Inventory Profit margin reporting, Inventory aging report Backorder inventory Multi-l...

Depending on the type of operations, accounting & finance systems fall under four different categories. There are also wide-ranging accountings suites designed for enterprises that combine the finest features of every category. Here is a brief summary: Payroll management systems If looking to protect control over your account payables and account receivables, you must be looking for payroll management systems that will handle it all. These tools were developed to carry out a collection of different tasks, as well as calculating employees’ salaries, cutting deductions, depositing the salary directly into staff members’ bank accounts, producing tax forms, payslips and more. On the long run, they will make safe your financial transactions, cut expenses, and help set up detailed reports. Billing & Invoicing systems Billing and invoicing systems absolute companies’ basic, day-to-day tasks, including check writing and informing customers of their due payments. They ...

Singapore accounting software provides our customers with a superfluity of world-class Singapore accounting software.  Our MYOB accounting software and other brands of accounting software in Singapore facilitates speedy sales processing whereas our Sage_Ubs accounting software offers easy features and ensures great flexibility. As your top accounting solutions provider, we strive to offer the highest quality service to maintain competitive advantage. These are the basic elements we consider while designing our accounting software for your business: Cost Ease of use Timesaving features Reporting capabilities Mobile access and mobile features Accountant access Service limitations, including the number of customers, invoices, users, transactions packages allow Customer service Additional services like credit card processing, tax preparation and payroll services Integration with third-party apps 

Have you prepared a new year’s resolution for your business? Finance is the focus at the start of the year and there is all sort of software to assist you to get your organization in order. Whether you’re determined to sort your expenses, rationalize your invoice or begin tracking your mileage, there’s a tailor-made resolution out there. But with so many options, it can be hard to find the product that makes the most sense for you. Flexibility is one of the perks of working for you, so select accounting software that supports this. An excellent package should make it simple to email estimates or invoices when you’re on the go, using templates you can modify. If you have got several clients or various projects make sure you have access to a time tracking feature. There are plenty of reasons to choose online accounting solutions instead of desktop packages. Singapore Accounting Software is the one-stop destination for all your business accounting needs and requirement...

Singapore accounting software is likely to benefit many businesses. Accounting software describes a type of application software that allows faster data entry than manual accounting, and allows documents such as invoices, purchase orders and payroll to be collated and printed quickly and accurately. It functions as an accounting information system. Advantages of accounting software If it’s difficult for you to keep track of your money, you’re on the path to needing accounting software. Use accounting software to get the following benefits: Simple data entry - it is typically fast, straightforward and only required once Fast processes - delays, for example between sale and invoicing, are minimal Automation of reports and analysis - on profit and loss, debtors and creditors, customer accounts, inventory counts, sales, forecasting, etc Automation of tasks - calculating pay, producing payslips, calculating VAT, etc Reduction of errors - transposition of figures, incorr...

Cloud Accounting A cloud-based accounting system like Singapore Accounting Software is a real-time software, which means your data is always up-to-date. It offers a wide range of products including the MYOB Accounting, EZ Accounting, Quickbooks and Sage_Ubs Software. You can connect from the office, at home or no more being tied to your desktop! Features of Singapore Accounting Software Once you reach a point where your business is looking to outsource specific tasks, using cloud accounting can help scale in a cost-effective and controlled manner. Singapore Accounting Software has everything you need. The features available in cloud-based accounting software to protect your information are: §   Facilitates easy navigation to all features of the program §   Calculates earning, detection and liabilities for all payroll frequencies §   Supports multiple bank accounts §   Facilitates unique User IDs and passwords §   Enables entry f...

You need a system that can handle the points listed below. But good payroll accounting software can do more than that: Simplify tax paperwork Tax paperwork is unavoidable if you run a business. Good software will make it as simple as possible, by linking into your accounts and retrieving all the necessary information at once. Then all you need to do is check it and submit it usually online. Take care of new employees and ex-employees A few clicks should be all it takes to handle paperwork and payments for employees leaving your business. It'll be a little more complex when new people join, but good payroll software will take you through the process easily. Reduce IT costs The best software is one that you don't have to worry about. No in-house support costs, no expensive upgrades and little to no downtime. By using online payroll accounting software (sometimes called cloud payroll software) you can stop worrying about IT issues, because it's all...

Payroll accounting service provider for making payments to their employees on records. Also, it is seen that many organizations are not aware of which type of payroll service suits to their business. Let’s have a look at the three different types of Payroll Accounting services available, and the difference between these: In-house An organization with about 10 or less employees, for them In-house payroll accounting software service is perfect. As in this case, data to be maintained is limited thus an employee can do this himself without any help. However, the employee who is responsible for the payroll system must be regularly updated with the employee’s laws, tax deductions and filings, and salary norms. One of the best advantages of in-house is that you don’t need to disclose your company’s secure data to any outsider. Payroll Service Agencies Once you take a decision to hire a payroll accounting software service agency for your business, it means you will have a team ...

E-commerce: Many of the top MYOB accounting software on the market today offer some form of e-commerce integration, either within their system or through a specialized e-commerce platform. Retail accounting: Manages the process of generating customer invoices and receiving payments as well as tracking all payments made to partners and vendors. Purchase orders: Tracks items and amounts ordered, including date of order, shipping information and progress. Rewards points program: Manages and tracks customer rewards programs awarded for purchase frequency or other incentive goals. Targeted marketing: Allows   MYOB accounting retailers to segment customers and create mailing lists based on custom criteria such as items purchased, total amount spent etc. Loss prevention: Monitors inventory levels and purchase orders and reports discrepancies or missing quantities. Variable pricing: MYOB Accounting Software automate the process by which varied prices are assigned to produc...

Payroll accounting service provider for making payments to their employees on records. Also, it is seen that many organizations are not aware of which type of payroll service suits to their business. Let’s have a look at the three different types of Payroll Accounting services available, and the difference between these: In-house An organization with about 10 or less employees, for them In-house payroll accounting software service is perfect. As in this case, data to be maintained is limited thus an employee can do this himself without any help. However, the employee who is responsible for the payroll system must be regularly updated with the employee’s laws, tax deductions and filings, and salary norms. One of the best advantages of in-house is that you don’t need to disclose your company’s secure data to any outsider. Payroll Service Agencies Once you take a decision to hire a payroll accounting software service agency for your business, it means you will have a team ...

Time and POS billing software is frequently implemented without integration with the accounting software package. Both systems end up maintaining their own individual set of customer records. Double the customer info data input is required when the systems are disconnected. Without integration, data for each invoice billed will also need to be entered twice.  A lack of communication between systems can result in less than optimal decision making or tedious workarounds. For instance, if there are unpaid invoices in accounts receivable, perhaps additional work shouldn’t be performed to limit the risk of uncompensated services. Manual processes to communicate this information tend to be unreliable and add to the administrative, non-revenue generating workload. Making sure data can flow between   Payroll Accounting software applications is an easy way to decrease overhead expenses and boost profitability. Integrating software is, for the most part, a one-time cost. Int...

Accounting software offers many features and tools that can help you manage your finances. It should cater to your business's needs, making it easy to accomplish routine accounting tasks. It should also help you see the big picture of how your business is performing. An ERP company that helps businesses manage their finances, notes that tailoring accounting solutions to a client's unique needs helps the client better understand its business and plan for the future.                           Many business owners we spoke with said that ease of use and timesaving features are the top two things they look for in a program. Here are some of the features accounting software should offer to help you save time and better manage your finances: Basic accounting features. Most small businesses can make do with accounting software that offers basic functions lik...

The decision to move to POS Accounting Software technology is certainly not one to be taken lightly. There are many considerations to look at, to make a qualified decision. As more and more business owners of small to medium size businesses are following the lead of the bigger corporations in using POS Accounting Software systems for the management of their business, what’s becoming apparent is becoming less and less about whether or not any particular business would benefit from moving to POS technology. The question that is an important one to address has to do with what’s to become of the last holdouts who, for one reason or another, stick with their time-honoured system where every operational detail is handled by and tracked by humans. The question that must be answered now is “What will happen to businesses that choose to not avail themselves of the full scope that POS technology covers, by moving their operations over to POS technology. TODAY’S DICTATES ARE FUELED BY CONSU...

Some POS companies will offer their own accounts payable and general ledger software that's tightly integrated and built into the POS accounting software software. Some of the advantages of built-in (integrated) accounting include: Real-time updates - If the POS accounting software system sends line item detail, then all information is updated instantly in real-time. So your accounts payables and general ledger transactions are posted as soon as the sale or receiving transaction is completed in the POS accounting software . Learn one program - You only need to learn how to use one program. Update once - You only load updates into one software program. So you don't have to worry about making sure your POS accounting software  is updated and supports the new version of your accounting software. Quickly drill down - Sometimes you can drill down from your general ledger entries into transactions like invoices, receivables and inventory adjustments, making it rea...