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What are the Features of Modern Accounting Software?


May 06, 2021

Features Of Modern Accounting Software

What are the Features of Modern Accounting Software?

Managing a business is not always as easy as you wish. There comes the need for modern accounting software which could meticulously track and record the flow of your payments in your account. Relying on the software you have, it makes your tasks like invoice, payment records, and records on dues, etc much simpler, easier and faster than you think.

Online Accounting software helps a company to keep a tab on its flow of money from its exchequer and examine the financial situation meticulously. At present, more sophisticated accounting software may be the need of the hour for the companies as they expand their operations and such functions would be coped with sole foolproof accounting software.

The emergence of ‘cloud’ technology and its application and the development of accounting software around it has resulted in the development of advanced cloud accounting software like Accoxi which enables a person to access and make entries or does his work from anywhere, anytime.

In brief, A lot of accounting solutions need you to be well-versed in accounts. Whereas a good online accounting software with versatile features enables even a chap without any background on accounts could work like a pro.

Now let's examine the outstanding features  must-have for any modern accounting software

  • Cloud Accounting 

This feature not only offers you all the functionalities of desktop accounting but also tenders you more advantages and benefits regarding the whole process of the accounts based on a cloud server via the internet without relying on any external infrastructure. 

With the help of cloud accounting software like Accoxi, your financial data could be at your fingertip, anywhere and anytime.

The influx of more data and information won’t make things complicated as a cloud platform could safeguard it perfectly. Even occurrences of errors could be minimalized and rectified by just providing a few inputs and clicks.

Since its cloud system does not require an internal infrastructure and it could be accessed through a remote server, organizations find it easy to coordinate all departments remotely and manage their accounts too. It's also easier to get real-time reporting and presence throughout your organization with greater capabilities and collaboration.

In the present scenario, any business entity can never think of a transaction without the involvement of GST. So an accounting software aimed at improving the efficiency of its work should be equipped with handling GST-related transactions like Accoxi which systematically compiles and consolidates all taxable transactions other than managing other functions too.

Online accounting software should be able to handle invoicing with a high professional standard.  In that aspect, software like Accoxi delivers the best which customizes according to an organization’s particulars such as logo, changing fonts, customized invoice template, etc. Through automatic invoicing, it ensures that the revenue is delayed or not sending an invoice.

  • User-friendly and Unlimited Uses

Generally speaking, accounting software is designed to be used by any user. That far it should be user-friendly. And unlimited user access is another feature that enables multiple users to gain access as the case may be. Online accounting software like Accoxi also provides advanced customs settings through which custom-made options are also offered.

  • Business Performance Dashboard

Unless you are equipped with cloud accounting software like Accoxi, assessing a litany of ledgers and accounts is a herculean task. However, Modern accounting software manages the task in a precise manner.

An attractive dashboard with an eye-catchy dashboard could make the reports and details more accurate.  

  • Authentic Reports

Critical or decisive decisions are made based on business reports. So an accounting software should aid to provide comprehensive business reports for smooth running. Apart from that, facilitating tax commitment via this software is another added advantage. By adhering to the tax regime of the country, it helps the companies to work in tandem. Accoxi offers a platform as a GST billing software too. 

Preparing a litany of reports is not a vexatious issue as far as software like Accoxi is concerned. However, it customizes reports as the case may be.

  • Versatile Business Accounting Solutions.

Online accounting software like Accoxi doesn't find it difficult to manage multiple transactions in different businesses as it is developed in that way. As in the case of financial statement, separate financial statements would be at your disposal for each business

  • Information and Backup Security 

Safeguarding data from any data theft is vitally important for any organization. Online accounting software should take care of it and Accoxi could help you to exercise the power to discriminate that who should be let to have access to its data. In brief, Accoxi provides you with complete data control.

Data recovery and safety is not at all an issue as it is based on cloud accounting software by providing access in signing in. Data backup and protection for your personal information is also highly recommended and are provided by software like Accoxi. Loss of data is not possible as an automated backup facility is available. 

  • User History at your Disposal 

Online accounting software like Accoxi provides a system for understanding the user regarding the previous works and transactions.

Recent updates of your bank statement without any fault. As your transactions are managed in less time and the regular update of reconciliation statements could make you smooth and less rush at the eleventh hour.

  • Easy Bill Payments 

Monthly bill payments through a single transaction resolve a time-consuming process of making one by one payment. Accoxi dashboard gives you a clear picture of your summary of bills and transactions.

  1. A widely searchable database is another feature where here in Accoxi could retrieve any information through its keywords from its large database.
  2. Maintain a logbook with accurate details of its purchase orders, invoice, and transactions.
  3. Credit and debit note facility is another featured advantage of online accounting software like Accoxi, where Accoxi makes appropriate adjustments based on the invoice.
  4. The software must have a feature to keep a tab on recurring sales, purchase, and customize accordingly.
  5. A smart way of managing bills and contacts and synchronizing them properly. Accoxi is of course the best online accounting software that synchronizes the list of suppliers and customers.
  6. Recording transactions in the form of journal entries could be really helpful for business transactions. Online accounting software like Accoxi has the feature to record it properly in the form of journal entries.
  7. Make your financial year closing much easier.
  8. Price estimation with a customized format for easy understanding.
  9. Duplicate invoice creation 
  10. Invoice number format customization 

"Be smart in your work to get on with the right solution for your business ‘’. To upgrade business and make its operations more smoother and effective, you need to choose the right accounting software. Accoxi offers you the best features for growing your business in tremendous ways.

 

 

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