Top 5 Features to Look For In Accounting Software

How To Look For The Top Accounting Software

Top 5 Features to Look for in Accounting Software

Top Accounting Software – Being a small business owner, the most important concern that matters to you is your finance. So, it’s necessary for you to take care of your finance very well. In fact, a business owner has so many things to do! After all, business owners need a lot of hard work and effort to operate a business. It’s not possible that you can handle each and every detailed transaction without any help. So keeping in mind such thing, there are a lot of accounting tools that have been designed to take proper care of your finance details.

Look beyond just the accounting

How to look beyond just the Accounting Software – Accounting software is nothing but a computer program that helps accountants and bookkeepers in reporting and recording financial transactions of a particular firm. Keep in mind that, depending on the size and needs of an organization, an accounting software can be customized and used right out of the box

one

Importance of Accounting Software: – If you own a business and your financial manager spends a good part of a week updating employee tax code details, working on paychecks and aggregating financial data from multiple sources, it’s time to consider a new assistance in the form of an accounting software.

Unbelievable as it may seem, human errors are seen in the routine tasks of a business organization. Employing the help of a financial tool to streamline and automate the accounting and management process can be good for your company’s bottom line. In this piece of write up, we are briefing top features to look for in an accounting software:

What are your top features?

Top Features to look for in an Accounting Software System: – A software like Sage 50 accounting comes up with built-in standard reports like profit and loss, balance sheet and income and expense; that can save you plentiful time and effort.

  1. Easy-to-use Interface: – Choose an accounting software with user-friendly navigation to make sure the successful software adoption in a business enterprise. An accounting software system having a complex interface will alienate employees, especially for those who aren’t tech-savvy.
  2. Easily Customizable Feature: – Your accounting software system must be customizable easily to suit your business needs very well.
  3. Anytime, Anywhere Accessibility: – If your finance team comprises of remote and highly mobile employees, then a cloud based accounting solution can be highly suggested for your finance needs.
  4. Inter-operability: – To eliminate redundant data entries and make sure seamless information flow between applications, integration with third party applications can be another feature worth considering for choosing an accounting software system.
  5. Usability: – Choose an accounting software that grows with you. One that charges on a per-user basis, with facilities to pay extra for additional features and bandwidth can be a good pick for your finance needs.

Getting The Best Accounting Software: – Well-known as Simply Accounting, Sage 50cloud, QuickBooks and Sage 100cloud Accounting can be an ideal business management and accounting software that helps in invoicing, bill payments, inventory management, payroll processing and credit card payment processing should be included in the top accounting software.

Key Features:

  1. Easy and quick payment of bills
  2. Optimization of inventory levels and productivity to control costs
  3. Efficient tracking of suppliers and customers
  4. Collect, track and submit financial data with confidence

 

Conclusion: – If you need necessary assistance for your business, feel free to contact consultants of  Accounting Business Solutions by JCS and get to understand the advanced features as well as enhance efficiency of business through time-saving procedures. Call us today and know how we can help you take your business to the next level!

With over 25 years of accounting and business knowledge as well as proficient technical background you get the training and support your business needs and deserves working with a proficient expert consultant.   You can work with the same consultant to help you master your Sage Software and for those occasional questions you need help with so you can understand best practices and how to manage your company information and books.

Put our 25 years of experience to work for you!

“Your Success is Our Goal”

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Accounting Software Classes

Accounting Software Classes

Accounting Software Systems – Sage Software – Intuit Software

Accounting Software Classes – In double entry accounting, we use two columns for each account and enter only positive numbers.

Two accounts are always affected by each transaction, one must be a debit and the other must be a credit of equal amount. Sometimes more than two are affected when multiple entries are made against 1 credit/debit.

This double entry accounting system provides a method of checks and balances.  By adding up all of the debits and adding up all of the credits and comparing the two you can notice errors or correct many common types of bookkeeping mistakes.

Accounting Terms

In accounting terms “credits” and “debits” are understood in the opposite of the use in everyday language. In everyday language you think of a credit as adding to an amount.  However, in accounting terms, if a transaction causes a company’s checking account to be credited, its balance decreases.

Whether a debit or a credit increase or decrease an account balance depends on the type of account.

Asset, such as bank accounts, and expense accounts are increased on the debit side (R).
Liability, equity and revenue accounts are increased on the credit side (L).

Debit is always entered on the Left Credit is always entered on the Right

 

Accounting Software Classes

Accounting Software Classes – Learn how to manage your day to day transactions, perform the bank reconciliation and use best practices to close your month. With over 25 years of accounting and business knowledge as well as proficient technical background you get the training and support your business needs and deserves working with a proficient expert consultant. 

You can work with the same consultant to help you master your Sage Software and for those occasional questions you need help with so you can understand best practices and how to manage your company information and books.

Put our 25 years of experience to work for you!

“Your Success is Our Goal”

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Accounting Software Systems – Learn.Grow.Succeed

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Knowledge is Powerful

Accounting Software Systems – Every day, more and more small businesses come to us eager to learn how to manage their business information using the tools they already own. We are here to help and transfer knowledge about best practices for your success. Sometimes the solution is a more robust platform to support your business processes and growth. Often we help find an add-ons to solve for operational challenges.  On a daily basis we  provide services to:

  • Identify issues before they become a crisis with advanced reporting.
  • Elevate Business Performance Visibility
  • Optimize team collaboration by gaining instant access to real time data

Balance quality and growth by using your accounting technology to the max. Learn how to manage your accounting software so you can get back to business and find new customers. More and more successful, thriving small businesses are reaping the benefits of using all the tools in their small business accounting software.

Don’t get left behind! Accounting Software Systems Can Be Powerful

Go beyond just accounting by attending a training class and learn how to drive your growth

Would you like to see an accounting software demo before you make the purchase?

Accounting Software Systems Demo

An Accounting software system demo will let you see and feel how things will be better if you choose to purchase a new accounting software system. We can help you review based on your business model and our vertical market expertise. Accounting Software demos allow you to

See the software in action
Work around your schedule
Ask Questions specific to your business and internal processes
Focus on areas where you have the biggest challenges that need solutions
Have as many demos as you need
Talk to a real person who has real world experience

If you want to book an online accounting software demonstration it couldn’t be easier! Just pick a time and date that suits you, and we’ll send you details of the online session via email. Schedule your review accounting software solutions and discuss your business model give us a call.

Free Deep Dive Demo Review Sage 100 ERP Software

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Have you outgrown your current accounting software? Do you need a more robust accounting software solution that provides end to end capabilities? Accounting Business Solutions can help you study the options to help you make an informed decision. Get your Sage 100 Month End Close Checklist.

Sign up for a one-to-one demo. This personalized tour of Sage 100 Accounting Software can be customized to your business needs so you can see how Sage 100 can work for you. Sage 100 is a great fit for distribution and manufacturing that need to manage inventory information. The top 5 reasons to get a handle on your inventory:

  1. Reduce costs
  2. Manage Forecasting
  3. Close more sales
  4. Avoid Overstocking
  5. Get accurate counts of your inventory levels

What are the new features found in Sage 100?

Do you want to go paperless? Well now you can, create a repository of all your documents and organize them so you can find information faster.

  1. Automatic Update of Daily Transaction Register

A security event has been added to Role Maintenance that allows you to automatically update the Daily Transaction Register. For any series of journal and register updates that concludes with the Daily Transaction Register, you will not receive a prompt to print and update the register if the security event check box is selected for your role. The Daily Transaction Register will be printed and updated automatically.

  1. The security event has been added for the following modules:
  • Accounts Payable
  • Accounts Receivable
  • Bank Reconciliation
  • Bill of Materials
  • Inventory Management
  • Job Cost
  • Purchase Order
  • Sales Order
  • Work Order
  1. Accounts Payable Expense Distribution table has been expanded

Sage software is the largest supplier of Small Business Accounting Software today. JCS also provides Sage 100 Support and Training. Call today 800.475.1047 solutions@jcscomputer.com.

Test drive a Demo – Review QuickBooks Software

Is QuickBooks Accounting Software right for your business? Upgrade from older versions of QuickBooks Accounting to QuickBooks Enterprise.

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Sign up for a one-to-one demo. This personalized tour of Quick Books Accounting Software can be customized to your business needs so you can see how QuickBooks can work for you. QuickBooks is rated the number one Small Business Accounting Software for businesses today. JCS also provides QuickBooks Support and Training. Get your QuickBooks Month End Close Checklist.

What are the new features found in QuickBooks Enterprise?

  • New the diamond package
  • Landed Cost
  • Alternate Vendor Center
  • Express Pick Pack
  • And More

To learn more send an email solutions@jcscomputer.com.

Bench Test Sage 50– Review Sage 50 Accounting Software

–Do you need an accounting software system that is right for your business and easy to use?

Sign up for a one-to-one demo. This personalized tour of Sage 50 Accounting Software can be customized to your business needs so you can see how Sage 50 can work for you. Hands down Sage Software is the largest supplier of Small Business Accounting Software today. JCS also provides Sage 50 Support and Training. Get your Sage 50 Month End Close Checklist.

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What are the new features found in Sage 50 Cloud?

  • Online and mobile invoicing and payment.
  • Microsoft Office 365 integration.
  • Automatic cloud backup using the Microsoft Office 365 integration.
  • Read-only access to a Sage Drive company.
  • Learn Morn schedule your free demo give us a call today 800.475.1047.

 

Free Trial Discovery Demo – Review Sage 100 Manufacturing Software

Do you need a more powerful manufacturing software solution?

Sign up for a one-to-one demo. This personalized tour of Sage 100 manufacturing for Sage 100 accounting software can be customized to your business needs so you can see how Sage 100 Manufacturing and Sage 100 can work for you. Sage 100 Production Manager a module for Sage 100 with seamless integration and is specifically designed for manufacturing companies and is customizable and scalable. Sage is the largest supplier of Small Business Accounting Software today. JCS also provides Sage 100 Manufacturing and Sage 100 Support and Training. Call today 800.475.1047.

 

What are the new features found in Sage 100 Manufacturing?

Sage 100 users will receive the new manufacturing capabilities via the same modernized platform as Sage 100. Capable of all the conveniences available in other modules including:

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  • Resizable windows.
  • Batch data entry.
  • Right-click context menus.
  • Grid export to Excel.
  • Custom scripting.
  • And more!

Free Trial Demo ReviewReview MISys Manufacturing

for QuickBooks and Sage 50 Software for your business.

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Sign up for a one-to-one demo. This personalized tour of MISys Software for QuickBooks or Sage 50 can be customized to your business needs so you can see how MISys can work for you. MISys and QuickBooks or Sage 50 are specifically designed for manufacturing companies. If you need Small Business Manufacturing Software this combination would fit your business. JCS also provides MISYS and QuickBooks and Sage 50 Support and Training.

Call today 800.475.1047 solutions@jcscomputer.com

What are the new features found in MISys Manufacturing?

New MISys Features include:

  • Keyboard Bindings are now persisted
  • Added option to Ignore Inactive Items, Closed Orders & Posted Batches to the Data Integrity Check
  • Dashboard Alerts/Advanced Find now has Does Not Contain/Does Not Exist Clauses
  • Replace/Add/Remove BOM Component function enhanced to allow the resulting Revision to be marked as current
  • Dashboard Alerts enhanced to consider data from related tables
  • Added option to Ignore Inactive Items from the Physical Inventory Worksheet
  • Purchase Orders now support auto-populating Custom Fields from Item Custom Fields.
  • Added ability to close multiple Orders (POs, WOs & MOs) …
  • Option to Hide Closed Orders (POs, WOs & MOs) …
  • Production/Supply Schedule settings are now persisted.

Free Demo How Sage CRM Powers Your Sales Pipeline

A Fact Finding Mission
By centralizing marketing and sales communications, Sage CRM solutions bring data efficiency to your company that can help you work more effectively and measure success (or identify missed opportunities).

Sage CRM also provides a platform that can automate sales, marketing, and customer support tasks across the enterprise – resulting in a truly powerful, real-time sales pipeline and performance analytics. Here are 4 ways Sage CRM can power your sales pipeline.
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Total Marketing Management

Better Lead Tracking

Accelerated Sales

What are the new features found in Sage CRM?

  • Calendar – view a complete list of your tasks and appointments
  • Use the ActiveX Document Drop to attach documents to custom entity records.
  • Quick Find immediately available in search results.
  • Chart points that have been made larger
  • Enhance system security
  • And more

Certified Sage Consultants providing Sage CRM and Sage 100 Support and Training. To learn more give us a call to speak with a consultant to put your mind at ease 800.475.1047.

Use a Free Demo to Analyze How Sage Timeslips Software

Power your firm with Sage Timeslips Software – See how Sage Timeslips can benefit you: Get set up quickly and easily with helpful wizards, templates, and training videos to guide you through the simple steps of billing your time and expenses. Sign up for a one-to-one demo. This personalized tour of Sage Timeslips can be customized to your business needs so you can see how Sage Timeslips can work for you. Sage Timeslips can also interface with QuickBooks or Sage 50.Sage Timeslips Software, timeslips software, Sage software, Sage Timeslips training, sage timeslips consultant, timeslips consultant, timeslips support, sage timeslips support

What are the new features found in Sage Timeslips?

  • Duplicate Slips to Multiple Clients (Premium only)
  • Enter Payments from Accounts Receivable List
  • Reverse Payments from an Existing Transaction
  • Apply a Credit Transaction to Multiple Open Invoices
  • Client to Client Transfers (Premium only)

Accounting Business Solutions by JCS also provides integration between Sage Timeslips and Sage 50 and QuickBooks Support and Training.

 

Free Demo – Review Sage 100 Field Service Management

Do you need a more powerful field service management software solution?

Sign up for a one-to-one demo. This personalized tour of Sage 100 Field Service management for Sage 100 accounting software can be customized to your business needs so you can see how Sage 100 can work for you. Field Service is a module for Sage 100 with seamless integration and is specifically designed for companies that need to automate their field service processes and information. This solution is customizable and scalable. Sage is the largest supplier of Small Business Accounting Software today. JCS also provides Field Service and Sage 100 Support and Training.

What are the new features found in Sage 100 Field Service Management?

Sage 100 field service includes a mobile field service management application designed to bring simplicity to field service with the power of Sage 100 ERP.Sage 100 field service software, Sage 100 field service, field service sage 100, field service for Sage 100, Sage 100 field service software

  • Increase field service efficiency and revenue
  • Real-time data and reporting
  • Email customer invoices with link to pay electronically using Paya
  • Eliminate invoice errors
  • Built in Scheduling and dispatching
  • Capture real-time costs for profitability on a job-by-job basis
  • Track costs against contracts
  • Give us a call to schedule your free demo 800.475.1047

 

Take a Free Spin Demo– Review QuickBooks Point of Sale Software

Is the new QuickBooks Point of Sale linked to QuickBooks Online Accounting Software right for your business?

Sign up for a one-to-one demo. This personalized tour of Quick Books Point of Sale by Intuit can be customized to your business needs so you can see how QuickBooks can work for you. QuickBooks is rated the number one Small Business Accounting Software for businesses today. JCS also provides QuickBooks Support and Training. Call today 800.475.1047

Accounting Software Systems

What are the new features found in QuickBooks Point of Sale?

QuickBooks Point of sale is easy to use and manger your retail shop. No need to enter Duplicate Transactions between multiple systems. QuickBooks POS is easy to Integrate. Easily Manage Inventory and is the No. 1 Accounting Solution. Accept Credit Cards and works SeamlesQuickBooks point of sale, quickbooks POS, quickbooks point of sale software, quickbooks software, quickbooks point of sale system, quickbooks POS system, quickbooks point of sale software system, quickbooks POS software systemsly With QuickBooks.

        • Easier access to customer information
        • Compatible Physical Inventory Scanner
        • Point of Sale on Microsoft Surface® Pro

To learn more call today 800.475.1047

 

Free Demo Compare How ACT Software Powers Your Sales Pipeline

By centralizing marketing and sales communications, ACT Software CRM solutions bring data efficiency to your company that can help you work more effectively and measure success (or identify missed opportunities).

ACT CRM also provides a platform that can automate sales, marketing, and customer support tasks across the enterprise – resulting in a truly powerful, real-time sales pipeline and performance analytics. Here are 4 ways ACT CRM software can power your sales pipeline.
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  • Better Lead Tracking
  • Accelerated Sales

What are the new features found in ACT CRM Software?

Act! CRM Software includes dynamic sales pipeline management and powerful new lead generation management and Marketing Automation. There have been many improvements in reporting, custom tables, product security, Web-Windows parity, update notifications, and compatibility updates.

  • NEW Plans & Pricing
  • Personalized Home Screen
  • Modernized Look & Feel
  • Marketing Automation Features & Insights
  • Targeted Data for Sales & Marketing Efforts
  • Mobile App Improvements
  • Greater Flexibility with Custom Charts

Accounting Business Solutions by JCS also provides ACT Software Support and Training.

Free Demo Sage Intacct

 

To learn more Give us a call today 800.475.1047 solutions@jcscomputer.com.

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Accounting Software Systems – Do you need help understanding Accounting Terms?

A

Accounts Payable: The amount owed to others called vendors for services or merchandise received by the organization.

Accounts Receivable:  The amount owed to the organization for services or merchandise provided to others referred to as clients.

Accrual-Basis Accounting:  A system of financial record keeping in which transactions are recorded as expenses when they are incurred (i.e. when a bill is received for merchandise or services provided to the organization) and as income when it is earned (i.e. when services or merchandise is provided by the organization, or the organization receives a commitment of a contribution) rather than when cash is paid or received. The alternative accounting method is Cash-basis accounting.

Accrued Expense:  Expenses that have accumulated, but are not yet due or payable based on payment terms with the vendors.

Accrued Interest:  Loan or Bank Interest costs that have accumulated, but are not yet due or payable.

Allocation:  A method of accounting that divides expenses among different classification, division, program or administrative catagories based on a formula that recognizes the use of the resources such as use of the facility or staff time.

Allowance for Doubtful Accounts:  An amount reflecting the portion of the accounts receivable which the organization reasonably believes it may not collect.

Assets:  What is owned by the organization. Examples are automobiles, equipment etc.

Audit:  A financial report that has been tested and verified for accuracy and prepared in accordance with Generally Accepted Accounting Principles. An essential component of the audit is the Opinion Letter.

B

Balance Sheet:  These balances are perpetual and may change on a daily or less frequent basis. This financial statement reflects the financial condition – Assets, Liabilities, and Net Assets – of the organization at a particular moment in time. Referred to as a Statement of Financial Position in the nonprofit sector.

Board-Designated Funds:  A condition placed by an organization’s board of directors on how an amount of money is to be used. A common type of board designation is for Operating Reserves. For accounting purposes, these funds are considered unrestricted because the condition was not specified by a donor.

Bridge Loan:  A short-term loan with a specific repayment source typically from 3rd party providers, private equity, venture capital groups, family and friends.

C

Capital Expenditure:  Payment of money to acquire fixed assets, such as a building or equipment

Capitalizing an Asset:  Recording the cost of land, a building or equipment as fixed assets rather than as an expense when purchased.

Cash Equivalents:  Funds which can be quickly and easily converted to cash; those bank accounts, money market funds or other investments which mature within 90 days.

Cash-Basis Accounting:  A system of financial recordkeeping in which transactions are recorded as cash is received or spent.

Cash Flow:  The movement of cash into and out of an organization; or the difference between cash receipts and cash disbursements during a period of time. The question is always is there more cash coming in than going out?

Cash Flow Statement:  A report of incoming and outgoing cash during a specified period of time. Most often the beginning period cash balances, expected incoming cash and outgoing cash to forecast available cash at a future date in time.

Chart of Accounts:  A report of all accounts used in accounting system, including assets, liabilities, income and expenses.

Collateral:  An asset (cash, buildings or other securities) which is pledged to a lender in return for a loan. Once the loan is paid in full the asset belongs to the original owner. In the event of default on a loan, the lender legally owns the right to obtain or sell the collateral to repay the loan.

Committed Grant:  A contribution for which the organization has received a formal notification from the donor that an award will be made at a future date.

Conditional Promise to Give:  A commitment by a donor to make a contribution to the organization if a specific requirement is met. The agreement becomes binding once the requirement is met.

Contribution:  A donation, gift or transfer of cash or other assets.

Current Assets:  Cash, investments, receivables, and other assets that can be expected to be available as cash within twelve months.

Current Liabilities:  Those liabilities due to be paid now or within the next twelve months.

Current Portion of Long-Term Debt:  The amount of the principal payments due and payable on loans within the next twelve months, if the original term of the loan was longer than one year.

D

Deferred Revenue:  Income for which payment has been received before it has been earned. It is reflected as a liability on the Balance Sheet until it is earned and can be recognized as income in a future accounting period.

Deficit:  Expenses in excess of income; an operating loss or a negative change in Net Assets.

Depreciation:  The recognition, by recording an expense, of the decrease in value of a fixed asset over its expected physical or economic life. The value of Land is not depreciated.

Direct Costs:  Those expenses which are specifically attributable to a program area or cost center typically, these are cost of goods sold.

E

Earned Revenue:  Income received for providing services or goods, rather than as a voluntary contribution.

F

Financial Accounting Standards Board (FASB):  The national governing board which sets the accounting standards known as Generally Accepted Accounting Principles (GAAP).

Fixed Assets:  An asset that has a relatively long useful life, usually several years or more.

Functional Expenses:  Categories of expense delineated by the type of expense: program services, management & general, and fundraising. Required for IRS form 990 and audited financial statements. Often reflect the use of allocations.

Fund Accounting:  Typically, used by nonprofits. A system of accounting based on separating information into groups which reflect organizational divisions or donor-imposed restrictions.

G

General Ledger:  A general ledger represents the record-keeping system for a company’s financial data

Generally Accepted Accounting Principles (GAAP):  The set of norms and standards of nonprofit accounting practices established by the Financial Accounting Standards Board (FASB) to help ensure the accuracy and consistency of financial records and reports.

Grants:  Contributed assets given by an individual or another organization with no reciprocal receipt of services of goods. Sometimes are given with a legal restriction imposed upon its use.

I

Income Statement:  An income statement or profit and loss account is one of the financial statements of a company and shows the company’s revenues and expenses during a particular period.

In-kind Contribution:  refers to goods, services, and transactions not involving money or not measured in monetary terms.

Internal Controls:  The system of practices, procedures and policies intended to safeguard the assets of the organization from fraud or error and ensure accurate recordkeeping.

Liabilities:  What the organization owes to others, including accounts payable, debts, mortgages and other obligations to pay.

Long-Term Debt/Liabilities:  An obligation to pay a loan or other obligation with a maturity or due date of more than one year.

N

Net Assets:  The difference between the organization’s total assets and its total liabilities on the balance sheet indicating the net financial worth for the organization. Net assets is the accumulation of the difference between cumulative income less cumulative expenses over the life of the organization. Divided into Unrestricted, Temporarily Restricted, and Permanently Restricted net assets.

Net Fixed Assets:  The value of land, buildings, equipment and other fixed assets owned by the organization after the deduction of the accumulated depreciation of those assets.

Notes Payable:  In accounting, Notes Payable is a general ledger liability account in which a company records the face amounts of the promissory notes that it has issued. The balance in Notes Payable represents the amounts that remain to be paid.

Notes Receivable:  The amount an organization is owed for loans made to others.

O

Operating Expense:  General term for expenses incurred for all the activities of the organization.

Operating Reserve:  An unrestricted fund balance set aside by the organization’s board to stabilize an organization’s finances by providing cash as a cushion for planned or unplanned future expense or losses.

Overhead:  Overhead refers to the ongoing business expenses not directly attributed to creating a product or service. Typically, this is a calculated amount or percentage.

Permanently Restricted Funds:  Funds which the donor has indicated may not be spent by the organization, but which are invested to produce a stream of income that can be spent. Frequently called an endowment

P

Pledge:  A formal commitment to make a contribution of a specific amount.

Prepaid Expense:  Prepaid expenses are future expenses that have been paid in advance

R

Refinance:  To replace one loan with another, usually in order to extend the maturity, change the payment amount, or to consolidate several loans.

Release from Restrictions:  The accounting transaction used to transfer temporarily restricted funds into an organization’s unrestricted accounts when the restriction has been satisfied (such as when a special project is initiated).

Reserves:  An amount set aside by the Board to be used in case of losses or an unexpected expense.

Restricted Funds:  Contributions which are designated by the donor for a specific use. See also temporarily restricted funds and permanently restricted funds.

Revenue:  In accounting, revenue is the income that a business has from its normal business activities, usually from the sale of goods and services to customers.

S

Secured Loan:  A loan for which something of value is pledged in the case that repayment cannot be made.

Short-Term Debt/Liability:  A loan which is issued with a final payment date of one year or less.

Social Entrepreneurs: People who act as the change agents for society, seizing opportunities others miss and improving systems, inventing new approaches, and creating solutions to change society for the better. While a business entrepreneur might create entirely new industries, a social entrepreneur comes up with new solutions to social problems and then implements them on a large scale.

Social Enterprise: An organization or venture (within an organization) that advances a social mission through entrepreneurial, earned income strategies.

Socially Responsible Business: A venture (generally for-profit) that seeks to leverage business for a more just and sustainable world.

Support:  Income from voluntary contributions and grants (as distinct from revenue, or earned income).

T

Technical Assistance (TA):  Help and advice provided on a specialized subject matter.

Temporarily Restricted Funds:  Contributions given by the donor or granting organization for a specific use or for use during a specific period of time. The limitation is satisfied at a defined time or when certain activities have been performed and the funds are released from restriction.

U

Unconditional Promise to Give:  A pledge to make a contribution of cash or another asset without requiring the organization to meet any condition prior to receiving the contribution.

Unrealized Gain (loss):  Unrealized gains and losses occur any time a capital asset you own changes value from your basis.

Unrestricted Funds:  Contributions given without the donor placing any restrictions or limitations as to their use.

Unsecured Loan:  A loan made without collateral.

W

Working Capital:  Working capital is a financial metric which represents operating liquidity available to a business.

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(End) Accounting Software Systems

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Accounting Software

Accounting Software For Small Business

Complimentary Discovery Consultation

Knowledge is Powerful

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Accounting Software

Is your Accounting Software hurting your Business? Consult with a system professional who can review your business needs and recommend the right solution to support your growing business. Once you have the right accounting software solution you will gain data analytics to support all the important decisions you need to make to drive your business forward. Review the most widely used accounting solutions to make an informed decision.

Business Software

Understanding the data that makes up your businesses financials is arguably one of the most important aspects of running a successful business. Data mining is what it is called today. Serious business owners should know the importance of having accurate, up to date and complete information.  Are you using your time or financial manager’s time wisely by creating mission critical reports in excel?  You have the ability to advance your business and increase your bottom line with the appropriate accounting software but sometimes it is hard to choose.

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Redundant data entry

One out of three businesses spends time entering the data to invoice customers, then they enter the time into an external payroll system and lastly they may be also re-keying time to manually track job costs. That means you’re spending triple the amount of money on completing these tasks when they could be handled in one place.  Fat fingering of data and increasing the probability of errors is greater when you keep track of your information this way and are manually entering it in several places.

Errors

Eliminate the errors and extra cost by investing in the right accounting software solution that has the tools to manage efficient operations.  Automating these types of processes and streamlining the accounting aspect of your business will increase your bottom line. Business decisions cannot be made with confidence if you’re financial statements are inaccurate or if you have data in disparate systems. Utilizing appropriate accounting software is essential for your team to easily produce accurate reporting while staying up to date. When was the last time you measured productivity for employees and labor?

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Here is a short list of items you can make much easier with accurate information when you are using a fully integrated system.

  • Quoting
  • Purchasing
  • Inventory management
  • Job / Project Profitability
  • Scheduling
  • Shop Floor Control
  • Shipping
  • EDI
  • Web Site Integration

Bank Reconciliation is more simplistic and effective with the right accounting software. Say goodbye to missing deductions, forgetting bank charges and those pesky interest fees you once forgot when manually handling your reconciliations. Automating this process and reconciling monthly is no longer a huge burden. Process your credit card payments inside your accounts receivable and provide customers with great experiences by making their payment process easier by selecting a link to pay by credit card via email.

Save time and man hours to produce company historical financials. Accounting software is refreshingly educational when it comes to comparing prior years activities. It also allows you to extract the data into a spreadsheet for sorting.  Are you able to pull the last 5 years of historical data with a few clicks of a mouse? Can you easily analyze inventory turns or thank your most profitable customers?

Data entry time should be minimal.  Most banks now offer the ability to sync your bank statements into your accounting software.  The ease of not having to manually enter in each month’s transactions will save a ton of time leaving more for you to do what you do best!  Most accounting software comes with the option to not only process payroll but with the click of a button file all the required forms and tax payments at the end of each payroll, month, quarter and year. Eliminate the time and effort it takes to run payroll through another system and then manually record journal entries and bank check payments.

Forecasting

Reliability and accurately managing customers and vendors are essential to any business. Accounting software keeps history and aging recorded.  Vendor invoices input are paid on time allowing for cash flow and projections to be done with ease.  Accounts receivable is up to date so you’ll know what’s outstanding at any given moment.

In summary, if you aren’t utilizing the appropriate accounting software for your business you could be spending quite a bit of extra money.  Consult with one of our professionals to find the best accounting solution for your business.  There are several options for accounting software to choose from.

For more information on accounting software give us a call 800.475.1047

How to Balance Your Checkbook in any accounting software system

UNDERSTANDING THE DIFFERENCE IN YOUR ACCOUNTING SOFTWARE SYSTEM CASH BALANCE AND YOUR CHECK BOOK REGISTER BALANCE. What you have in the bank is not what you have available to spend. I would also add Cash flow to this

How to Record Interest Earned and credit adjustments

If you earn any interest or the bank makes any credit adjustments you will need to record them in your checkbook register. Interest earned typically appears on the front of your bank statement or may be a separate statement altogether depending on how many checking accounts you have. Credit adjustment amounts could be for items such as bank corrections. Interest earned and credit adjustments will be added to your balance.

How to Record Service Charges, Debit Adjustments

If you have any service charges you will need to record them in your checkbook register. These types of adjustments could be for charges such as monthly service charges, per check charges, ATM transaction charges and non-sufficient funds fees. Debit adjustments are if there are additional withdrawals on your bank statement, other than checks, are charged for the amount actually drawn. This includes ATM withdrawals, Debit Card transactions and any automatically deducted transactions like car payments, insurance payments, loan and utility payments. Service charges and debit adjustments will be deducted from your balance.

Glossary of Simple Accounting Software Terms

Accounts Payable: The amount owed to others for services or merchandise received by the organization.

Accounts Receivable:  The amount owed to the organization for services or merchandise provided to others.

Accrual-Basis Accounting:  A system of financial record keeping in which transactions are recorded as expenses when they are incurred (i.e. when a bill is received for merchandise or services provided to the organization) and as income when it is earned (i.e. when services or merchandise is provided by the organization, or the organization receives a commitment of a contribution) rather than when cash is paid or received. The alternative is Cash-basis accounting.

Accrued Expense:  Costs of operation that have accumulated, but are not yet due or payable.

Accrued Interest:  Interest costs that have accumulated, but are not yet due or payable.

Allocation:  A method of accounting that divides expenses among different program, administrative, and fundraising categories based on a formula that recognizes the use of the resources such as use of the facility or staff time.

Allowance for Doubtful Accounts:  An amount reflecting the portion of the accounts receivable which the organization reasonably believes it may not collect.

Advanced Features to consider

Possible one of the most confusing aspects of creating an integrated accounting software and manufacturing management system is about how inventory is kept.

In larger, industrial-strength Enterprise Resource Planning (ERP) systems, there is usually a clear distinction between finished goods inventory (often referred to as “distribution inventory” or sales inventory”) and the raw materials inventory.  Indeed, ISO standards and other “best practices” dictate that the finished goods inventory and the raw materials inventory must be kept physically isolated and controlled separately.  ERP systems respect this need for isolation.

Education on  “best practices” should be considered along with a formal way of controlling inventory (a controlled stockroom).  More than one of our clients, using a “take what you need” inventory control system, have wondered why their manufacturing operation seemed to be so horrible out of control.  The answer is, obviously, “You must start by controlling the inventory.”

Often “Inventory Control” is listed among its many features.  Of equally good chance is that the inventory control module of their accounting system deals only with the sales distribution side of the house, not the manufacturing side.

Many manufacturing companies make the mistake of trying to use their accounting system’s inventory module to help them control their raw materials inventory.  Work in process (WIP), and sub-assembly production.  Only after typing in thousands of raw material part numbers and attempting to perform the most basic manufacturing processes do they discover how ill-equipped their software is to perform the required tasks.

Accounting Software Plus Distribution Software

Writing software to control a sales distribution inventory is relatively simple; however the software needed to effectively control the inventory for a multi-level product structure is quite complex.  Accounting software vendors usually take the easy route and include a module which addresses sale distribution inventory.  Rarely do they tackle the thorny job of manufacturing inventory control.

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Accounting Software Plus Manufacturing Software

Regardless of the size of your client’s company and the complexity of their manufacturing process, we urge you to enforce a strict set of part numbering conventions and inventory control procedures.  If your client is small and operating on a shoe-string, this demand may not make you friends, but it is one you must make.  Bad habits are hard to break – but in this case time never heals.  If your client has only 50 raw materials and 10 sub-assemblies, insist that each have a part number and each be stored in a controlled stockroom.  If the client allows free access to the inventory, all your efforts to manage their manufacturing business will be for naught. Why have integrated manufacturing solution.

  • Improve Visibility
  • Increase Efficiency
  • On-time Delivery
  • Enhanced Product Quality
  • Reduce Costs
  • Real Time CollaborationManfacturing software, manufacturing systems, manufacturing software systems, inventory control, inventory systems, manufacturing barcode software, manufacturing business accounting, manufacturing configurator, manufacturing costing software, manufacturing job cost software, manufacturing job costing, manufacturing labor tracking, manufacturing product configurator, manufacturing shop floor control, manufacturing software consultant, manufacturing software for quickbooks, manufacturing time tracking,

While you have their attention and you are in the process imposing new policies and procedures, establish once and for all how raw materials, sub-assemblies, and finished goods are to be segregated.

In general, only the items being sold belong in an accounting system’s inventory control database.  Obviously, this includes the finished products, but may also include a quantity of selected raw materials or sub-assemblies being made or sold as spare parts.

Field Service options to consider

  1. Plan to have technicians invoice and collect in the field
  2. Currently using Preventative Maintenance Agreements
  3. GPS capabilities
  4. Industry
  5. Work Zones
  6. Workflow standardization
  7. Minimizing paperwork
  8. Quicker invoicing
  9. Dynamic scheduling and the ability to take urgent tasks
  10. Cost Reduction with Fuel Control and Route Optimization
  11. Parts and Inventory Management
  12. Equipment Tracking
  13. More Accurate Task Matching
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