Accounting Management System
Accounting Management System is system that manages all things in a business related to accounting. It allows business owners to make educated decisions that are beneficial for the company by keeping a record of the transactions made by the company. The system is equipped with tools that make the system more effective and reliable for users.
What to expect?
The system helps the accounting department the most; however, the system is beneficial for all business owners regardless of the number of employees they have or how large or small their business is. The system allows its users to keep track of the transactions made as well as amount receivable (paid to you by third parties) and amount payable ( paid by you to third parties). It makes managing transactions easier; thus increasing productivity and removing errors. The system is designed to calculate your daily, monthly and yearly sales as well as produce clear and informative graphical representations of the profit and loss. Other variables are also recorded and can be viewed in different forms to analyze the business’s progress. You can add specific features that are needed by your business; however, the product designed by Letscodify is extensive and your needs would be satisfied with it.
All your data is managed and inputted into a ledger which helps retrieval and storing of data.
The system can be modified to allow specific access to certain users; this is most done as a security preventative measure.
You can integrate your bank details which manage the transactions made and allows user to make transactions through the system as well.
The most effective and demanded feature is the auto tax calculation through extracting data from the system’s database. This simplifies a complex process into a few data entries.
For all businesses, the system provides tools that are beneficial if used correctly. The productivity increases exponentially as data entry and retrieval from the system can be done in a few steps. Furthermore, time is saved rather than extracting information from different locations. It is user friendly thus personnel can be trained relatively easily; All redundant tasks are avoided while keeping track of the useful data through one platform; multiple accesses to the same system are possible therefore saving resources. Sales, tax and auditing is done through effective means and is accurate as long as data entry is accurate. This system helps small to medium scale businesses to work effectively and progress forward.
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