Important Features Your Accounting Software Should Have

At a glance it may seem that all accounting software is the same. They both offer accounts payable, accounts receivable, general ledger, billing and other standard components we usually find in an accounting software.

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But besides all that, there are many other features that accounting software has that includes various functions and services. Even some of these features are necessary. Let’s see what those features are.

1. Reporting and analysis

Information is a force in today’s business environment. That is why the accounting software you use should have strong reporting and analysis capabilities. That way you can get an accurate view of financial activities.

2. Graphics

Accounting is an activity focused on numbers. But with the graphics, in the form of charts or other illustration format, will be very helpful in displaying trends or other concepts that can not be delivered by the numbers

3. Automation

For most businesses, if only a simple accounting transaction is not enough. Many companies require full automation of employee expenses, payroll, time sheets and so on.

4. Automatic updates

Using accounting software that has been out of dated is just like eating food that has been expired. You need to know, tax provisions, regulations and also financial practices are always changing over time, then surely you want your accounting software to follow these changes.

5. Customization

Most likely there is no accounting software that really suits your needs. That’s why you want to make sure that the accounting software you use can be customized to meet all your business needs.

6. Internet connectivity

The whole world has now begun to move to the internet. So it is very logical if the accounting software to follow the trend. That’s why it’s important for you to make sure the accounting software you use must be able to send and receive documents digitally and handle electronic funds transfers.

7. Interoperability

Data entered into accounting software can be used productively by various business applications such as HR, sales, shipping and other business sectors. Vice versa, you certainly want your accounting software to retrieve information from other software products.

8. Scalability

With hard work, and perhaps luck, the business gets bigger and more prosperous in the next few years. But whether your accounting software is able to follow these developments?

9. Security

Your business relies heavily on data owned by the accounting software you use. If data is lost or damaged, you will lose time, money, business secrets (sales data or profit data). So it is important for you to know the level of security offered by your accounting software.

Does the accounting software have these features? If it is not possible you should switch and start looking for other solutions for your accounting software.

Acumatica Cloud ERP is one of the business solutions you can use to manage your accounting. Not only that, Acumatica Cloud ERP also has various other integrated modules such as manufacturing, distribution, supply chain, customer management and also e-commerce. Want to know more? Call us at (021) 53675015 or email us at sales@8thinktank.co.id