The term accounting software means different things to different people. Some find it a way to remedy the painstaking and disorganized use of spreadsheets, others find financial discoveries they've been missing, and still others use it to solve and handle internal processes, such as order processing and inventory management. No two businesses are in the same situation, and that is why you should not purchase a product without first checking it out for yourself. Your software choice should fit your business and integrate nicely with your processes. By choosing a program that isn't a good fit, you are adding time and frustration to your employees' calendars, which in turn increases your payroll. Find the right software and your whole company will run more efficiently, and employee frustration will be reduced. Here are important functions to consider for your business, before you purchase accounting software.
Customer Invoices and Sales Orders
In accounting software, the customer invoicing is usually handled with Accounts Receivable, and the sales orders are handled in Order Entry. Accounts Receivable handles invoicing, but also helps you to keep track of customer information along with corresponding pricing and terms. You can also run reports that show information about open invoices, invoice aging, commission, sales activity, customer analysis and more. Most accounting software will include Accounts Receivable; however, not all programs include an Order Entry function. If you need the ability to put items on back order or make partial shipments, Order Entry is crucial. Order Entry is also a great place to create quotes and turn them into orders, pull in tracking and shipping information, and view what orders need to be filled or shipped.
General Ledger
The General Ledger is the heart of the financial information within any business. It is the place where you can analyze business transactions, so you know where you stand financially. By using and understanding your General Ledger, you won't have to guess about your financial position, so you can make better financial decisions. Good accounting software should contain the General Ledger function.
Inventory Management
If you manage a warehouse or a large number of products, then you need Inventory Management for your business. Some accounting software includes Inventory Management as a standard item, and others offer it as an additional purchase. Inventory Management can involve many variables, such as multiple pricing levels, UPC code tracking, serial and lot number tracking. Because Inventory Management packages can vary so widely, be sure to think about exactly what you are looking for before starting your search.
Ordering Products and Paying Invoices
If you sell products, you need a way to order them and organize your invoices due, and that is where Accounts Payable comes in handy. Here you can keep track of your vendors and transactions, and you can also run useful reports such as open invoice, invoice aging, cash requirements and more. For more advanced ordering capability, Purchase Orders can be very useful. Placing vendor orders with Purchase Orders allows you to receive partial shipments and place others on backorder, automatically update inventory upon receipt, drop ship products and much more. Purchase Orders can also help manage inventory quantity levels and provide useful tools so you don't end up with an overstock or shortage of inventory items.
Consider which of these accounting software functions are right for your business, and you will be on your way to more efficient operations, and improved employee performance.
Article Source: http://EzineArticles.com/?expert=Stephanie_Elsen
Customer Invoices and Sales Orders
In accounting software, the customer invoicing is usually handled with Accounts Receivable, and the sales orders are handled in Order Entry. Accounts Receivable handles invoicing, but also helps you to keep track of customer information along with corresponding pricing and terms. You can also run reports that show information about open invoices, invoice aging, commission, sales activity, customer analysis and more. Most accounting software will include Accounts Receivable; however, not all programs include an Order Entry function. If you need the ability to put items on back order or make partial shipments, Order Entry is crucial. Order Entry is also a great place to create quotes and turn them into orders, pull in tracking and shipping information, and view what orders need to be filled or shipped.
General Ledger
The General Ledger is the heart of the financial information within any business. It is the place where you can analyze business transactions, so you know where you stand financially. By using and understanding your General Ledger, you won't have to guess about your financial position, so you can make better financial decisions. Good accounting software should contain the General Ledger function.
Inventory Management
If you manage a warehouse or a large number of products, then you need Inventory Management for your business. Some accounting software includes Inventory Management as a standard item, and others offer it as an additional purchase. Inventory Management can involve many variables, such as multiple pricing levels, UPC code tracking, serial and lot number tracking. Because Inventory Management packages can vary so widely, be sure to think about exactly what you are looking for before starting your search.
Ordering Products and Paying Invoices
If you sell products, you need a way to order them and organize your invoices due, and that is where Accounts Payable comes in handy. Here you can keep track of your vendors and transactions, and you can also run useful reports such as open invoice, invoice aging, cash requirements and more. For more advanced ordering capability, Purchase Orders can be very useful. Placing vendor orders with Purchase Orders allows you to receive partial shipments and place others on backorder, automatically update inventory upon receipt, drop ship products and much more. Purchase Orders can also help manage inventory quantity levels and provide useful tools so you don't end up with an overstock or shortage of inventory items.
Consider which of these accounting software functions are right for your business, and you will be on your way to more efficient operations, and improved employee performance.
Article Source: http://EzineArticles.com/?expert=Stephanie_Elsen
No comments:
Post a Comment