Process for Choosing Perfect Accounting Software

Know your Business Needs

First, you have to know your business needs from your employees and make a list of it.

Know your budget

After knowing your business need, you have to allocate the budget for the accounting software. That will sort out almost half of the options.

Know the Essential features and factors before purchasing the accounting software.

Essential Features of Accounting Software

Accounting Software should do the following functions

• Invoice Creation and Invoice Customization for look and feel

• Expenses tracking

• Inventory management and inward & outward stock movements tracking

• Software should perform the bank reconciliations

• Purchase order creation

• Inventory purchase tracking

• Taxes managing

• Journal voucher entries tracking

• View option for account payables and account receivables

• View option for accounting reports like Balance Sheet, Profit & Loss Statement, Trial Balance reports

• Multi-currency transaction support

• Payroll management

• Employee management

• Categorize transactions according to projects

• Access control for users

User Interface & Complexity

Most of the business people do not aware of the accounting process. So they hire an accountant or purchase accounting software for their business. To know the accounting process, you need training. While purchasing the accounting software you have to ensure whether the software has a simple user interface that helps you to focus on important tasks. So you no need to spend more time on learning.

Scalability

Most of the business owners purchase the accounting software based on their current business needs. They didn’t think about future needs. When your business grows to the next level, your software should scale with your business needs. If the software doesn’t have the scalability feature, then you have to migrate the business data from existing software to new software which is a difficult task. So you have to purchase the accounting software with scalability features.

Exit options

Data export facility should be available in the accounting software. Through this feature, you can export the ledger and other transactions in the form of excel. So you can get back up at regular intervals.

Find the Best Accounting Software Provider

Onestopaccounting is the NO:1 Accounting Software Provider in Singapore. We provide the best accounting software for SME’s. We offer EZ Accounting software, Payroll Software, Point of Sale software, Quicken software, EZ inventory software, PSG Grant Software Singapore, etc.

Schedule a demo

Call us + 65 6227 1797 / +65 6746 2613 Email us sales@onestopaccounting.com to book your appointment for live demo. In the demo, you can ask your queries related to your accounting needs.

Advantages of Accounting Software

When the business is a startup, they struggle to manage the accounting system. As a startup, some business owners don’t have sufficient knowledge of how to handle their business accounts. In that, you have to choose an accountant or accounting software for your business. In this post, we discuss accounting software advantages.

Accounting Software VS Accountants – Which is the better option?

The truth is, both are the best choice for business. Based on the business accounting needs you can choose the accountant or accounting software. Before choosing it you have to think which the best fit for the business. In most of the cases, accounting software is the best choice that will provide more convenient for business owners.

Financial business operation and accounts are managed well by the accounting software. Here we listed some of the advantages of accounting software.

• Automation
• Cost-efficient
• Compatibility
• Features and Functions
• Access platform

Automation – We are living in a digitally connected world so that we need real-time information access. For that, your accounting software should have the automated financial system which helps you to access the financial information easily. This software should allow for timely reporting and analysis measures.

Cost-efficient – Accounting software provide a deep level of accounting service for your business at affordable prices. This cost is lesser than the average cost of an accountant.

Compatibility – Business financial information can be shared efficiently.

Features and functions – To make your accounting system simple, it provides various accounting features such as automation, tax calculation, integration, etc. Accounting software has an OCR function that makes the desktop and Smartphone to read texts. Through this feature, you can able to prepare the digitize document on your transactions.

Access platforms:

Using accounting software account you can access the financial file through various platforms (such as Smartphone, tablets, iPads ) from everywhere.

To learn more about the accounting software, you can reach our No:1 Accounting Software Provider Singapore support team. Call us +65-6746 2613 or +65-6227 1797 (9 Lines) or Email us sales@onestopaccounting.com

How to Troubleshoot Data Integrity Errors in Quicken Windows?

Quicken software is used as a financial management software to manage personal and business expenses. With the help of the quicken software, you can able to create budgets, set bill reminders and categorize the spending, etc. This software can be used for both small and large scale business. Quicken 2018 is one of the quicken version. Through this Quicken version, you can able to generate direct excel reports and customize reports. It provides 5GB secure online backup to recover your previous data.

Quicken software is designed separately for MAC and Windows. Sometimes you may face data integrity error on Quicken Windows.

Here we provide some steps to troubleshoot the data integrity errors in Quicken Windows.

Authenticate your Data Integrity Files

• To authenticate your data integrity files, you have to find the “Downloaded Transaction Tab” in the Quicken account register.
• After that, Go to the menu bar and select File Operations --> Validate 
• Then the selected file will be validated.
• If you want to validate another file, then you have to search the file which you want to validate. After finding the file you have to select it by clicking the checklist to validate the file. Then press the OK button.
• After validation process completion you will get the validation result summary in the Notepad window. Before the validation process, quicken software takes a backup of the file.

Copy Your File & Legalize

If the first method is not working, then try this method to troubleshoot data integrity errors.

Follow the below instructions to solve your error

• First, you have to Select File --> File Procedures --> Leave all of
• Don’t change anything on the configuration screen that includes data file identify and checkboxes.
• After finishing the file duplication, select --> Start New Content
• After that you have to ensure no ongoing issues with this data file. Go to New Content --> Data File --> File Procedures --> Confirm & Restoration --> Confirm
• During this process, you can select the rebuild lots to fix the other data problems.
• Then the data document procedure is completed.

Through these methods, you can simply troubleshoot the data integrity errors in Quicken Windows. For further details, you can call us +65-6746 2613 or +65-6227 1797 (9 Lines) or Email us sales@onestopaccounting.com Hurry up!!

Track Time and Integrate With Accounting Software

Employ time tracking is a difficult task for business people.  Business people need proper time tracking system to know how the employees spend their time in business hours to complete the single task or multiple tasks. If the time is not tracked properly they may lead to productivity issues, poor company morale, etc.

First, give a brief explanation about the time tracking to employees

Implementing the time tracking system in business is a critical task. So you have to clearly explain the benefits of the time tracking system. Such as

• Improves the company workflow
• Helps in recognitions
• Big data for future strategy
• Helps in finding the spot areas to capitalize on productivity

Then select the perfect time tracking program

Time tracking apps available with a lot of features such as integration, remote check, etc. Before purchasing the time tracking system for your business you have to ensure that the time tracking system can able to integrate with the accounting software.

Through the time tracking system you can simply manage the projects and analyze the profitability.

By tracking the time you know how much time is spent on the project and you can measure whether the specific project is profitable, costly to your company. You can also able to track the hung up situations in the project.

Time tracking APP provides notes to update the project status, expected and unexpected issues. Through these notes, you can analyze your client projects simply. This system also automates the payroll process.

This system helps in company workflow such as

• You can able to understand your business functioning
• Able to measure the employees’ performance based on their effort
• Able to get the business overview
• Based on these benefits you can simply do your decision making or reach your goals etc.
• These features help you to find the unnecessary cost in their budget.

Do you want to integrate the time tracking system with your accounting software? Just schedule the appointment with us!! We also are providing the best accounting software for business people. That software is MYOB Accounting software, ERP Accounting software, Quicken software, Payroll software, Point of sale software, Sage UBS Accounting software, etc. Get your software live demo!! Ping us on + 65 6227 1797 / +65 6746 2613 and Email us on sales@onestopaccounting.com.sg

Source: http://www.onestopaccounting.com/track-time-and-integrate-with-accounting-software/

Track Financial Performance Indicators

Accounting tools are the best key performance indicators to measure and track company performance. KPI always provide a clear view of your business.  This KPI also helps in finding the underperforming area to prevent the loss. Here we discuss some of the financial performance indicators. Continue Reading…

Some of the Financial Performance Indicators

• Operating Cash Flow
• Working Capital
• Current Ratio
• Debt to Equity Ratio
• LOB Revenue Vs. Target
• LOB Expenses Vs. Budget
• Accounts Payable Turnover
• Accounts Receivable Turnover
• Inventory Turnover
• Return on Equity
• Quick Ratio
• Customer Satisfaction

From the above list, we will discuss a few of them briefly.

Operating Cash Flow

To know about your routine operating expenses, you have to track and analyze your operating cash flow. Through this process, you can able to compare the operating cash flow with a total capital.

Working Capital

Working capital is immediately available cash. Working capital can be calculated as

Working Capital = Existing Assets – Business’s existing liabilities.

KPI Equation consists of accounts payable, accounts receivable, short term investment, Cash on hand, etc.

Current Ratio

Current Ratio calculated as Total Assets/ liabilities

Through the current ratio, you can able to understand the solvency of the business. To improve your business growth you have to maintain the credit rating level. For this purpose, you have to calculate your business current ratio.

Debt to Equity Ratio

Debt to Equity is one of the major critical KPI. This KPI helps you to focus on financial accountability. Based on the KPI you can able to analyze whether you are using the shareholder’s investments for business growth.

Account Payable Turnover                                                              

Account payable turnover rates are calculated based on how business owners pay off suppliers. Account payable turn over can be calculated as total costs of sales during a period divided by average accounts payable for that period.

Account Receivable Turnover

Accounting receivable turnover rate is calculated based on how business owner collecting the payments dues from the clients. Account receivable turnover is calculated as Total Sales for a Period divided by average accounts receivable for that period.

Inventory Turnover

Inventory turnover rate is calculated based on how much inventory items sold within a particular period. Inventory turnover is calculated as Sales within a particular period divided by average inventory in that particular period.

Based on the inventory turnover KPI you can able to view the productivity and company sales strength.

These are the few financial performance indicators. To learn more about the accounting software you can reach us at accounting software support number + 65 6227 1797 / +65 6746 2613 or Email us sales@onestopaccounting.com

Source: http://www.onestopaccounting.com/track-financial-performance-indicators/

Inventory Control Benefits

To meet your customer demands you have to maintain inventory properly. Through this post, you will know about the inventory control benefits and how the inventory management system helps you in stock control. The inventory management system is mainly used to make a plan for the arrival of a new supply to prevent shortages. This is the best cost-effective way to meet customer demand. Then the inventory management system is the best choice for retail business. This system also includes following features such as historical sales data analysis and replenishment recommendations

Read our blog to know the inventory management best practices.

Managing an organizational structure

By handling the inventory properly you can able to hold the safety stocks as per your supply-demand. IF you managing inventory manually you can make mistakes in calculations and not to mention some lost transactions and delays etc.

To avoid such mistakes you can go for automation. By using the automation process, errors are reduced and the system automatically restocks the inventory as required.

Automated data collection

Data collection is automated in the inventory control system. That saves your time and reduces the errors compared to the manual process.

Inventory management system always assigns a serial number for receiving, issuing or assembling items. Based on that serial number you can simply track the inventory. To that serial number, you can provide some specific valuations to track costs.

Real-time data access        

The inventory management system provides different levels of accesses to access the organization’s live information. So everyone has visibility and control across your supply chain. Based on the access you can get some idea about purchasing decision from your employees.

For the best result, you have to choose perfect inventory management software for your business that should save your time and money.

The best inventory management system improve your business profitability in the following ways

• Without hiring new staff, process a higher number of goods
• Stock level optimization
• Simply access stock and move it faster
• Generating packing slips
• Generating invoice
• The stock release was done in bulk

These are the benefits of proper inventory controls. To know more about the inventory software read our blog posts. For further queries, you can email us sales@onestopaccounting.com or call us + 65 6227 1797 / +65 6746 2613 to get instant solution.

Source: http://www.onestopaccounting.com/inventory-control-benefits/

3 Major Integration Features In Accounting Software

Along with small businesses, accounting software brings some transformation in the accounting software industry. Previously accounting software provides a limited option for SMBs. Now the accounting software provides enterprise-level software for Small Medium Business.

If you are decided to deploy the accounting software for your business, then you have to do some integrations and implementation. During the implementation, you have to consider the following things such as expense tracking management, mobile timesheets. Integration can be done with any accounting software for example POS software can be integrated with QuickBooks.

Before purchasing the accounting software you have ensured whether the integration features available and it helps you in the following areas.

• Improve Data Aggregation
• Reduce Data Entry
• Establish an Automated Workflow

Improve Data Aggregation

Through the accounting software integration feature you can track and sync the financial data between multiple applications. Two-way synchronization is done at all times whenever you transfer financial information from one source to another source. Integration features help you in redundant data entry.

Reduce Data Entry

Integration always transforms your business workflow. The automation process is available in the accounting software to handle the key information. Learn more about the accounting software to import and update from your bank, payroll, etc. In uploading and importing, integration features help you to avoid the manual data entry

Establish an Automated Workflow

By automating the review, approval and accounting processes you can eliminate the manual data entry works. To handle your accounts payable accounts receivable you can reach the No:1 Accounting software provider Singapore. We suggest you some accounting software with integration features that simplify your accounting tasks.

If you don’t have any idea regarding accounting technology you can reach our accounting software support team. They guide you to choose perfect accounting software based on your business requirement. We have various accounting software such as ERP Software, Quicken Software, EZ Payroll, EZ Point of Sale, EZ inventory, Cloud accounting software, MYOB software, Retail POS Software, etc. We also customize your accounting software based on your business requirements. Do you like to book your software? Just ring us + 65 6227 1797 / +65 6746 2613 and Email us on sales@onestopaccounting.com Hurry up!!

Source: https://www.onestopaccounting.com/3-major-integration-features/