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TOP Accounting Softwares to Choose From in 2017A Quick Guide to Entrepreneurs who value Financial Data.
Contents
• What can you do with an Accounting Software?
• What you cannot do with an accounting software?
• Desktop/Local Vs Cloud Based accounting softwares
• TOP 5 Accounting Softwares in 2017
• About Relativity
• Conclusion
What can you do with an Accounting Software?
✓Invoicing
✓General Ledger Management
✓Basic Tax Management
✓Track Account Receivables
✓Track Income, Expenses, Asset, Liabilities
✓Reporting of Profit & Loss, Balance Sheet
✓Reconciliation
✓Document management
✓Purchase Orders
✓Budgeting
✓Automated Bank integration to read transactions (not payment processing)
✓Support Multiple Currencies*
✓Integrate with other apps*
✓Payroll*
✓Inventory Management*
✓Customer/Vendor Portals*
*- Denotes not a part of basic accounting feature. May be required to be purchase separately or supported only by a few.
What you cannot do with an Accounting Software?
✓Track Un-necessary / Excess Expenses
✓Loss Making Customers
✓Loss Making Products
✓Break-even point for a month or quarter
✓Profitability Analysis
✓Cash Flow Analysis
✓Cash Flow Optimization
✓Bill Payment
✓Track Employee Loans / Advances
✓Customer Credit Management
✓Credit Control
✓Audits & Assurance Activities
✓Financial Advisory
✓Tax Planning / Optimization
✓Tax Filing – Service Tax Returns, TDS Returns, Income Tax or VAT Returns
✓Employee Tax Declarations
✓Form 16 issuance
Most of the above Services are offered by Relativity’s Accounting & Taxation Team. We work to ensure Financial Data is transformed into Insights & Actions.
Desktop/Local Vs Cloud Based accounting softwares
▪ Desktop Based :
▪ Client Server concept, hence most suitable for Large Organizations
▪ Capital Investment in some cases
▪ Legacy softwares still run as Desktop softwares
▪ High Level of Customization
▪ In some cases, Data remains inhouse Or hosted on your servers
These are the views/opinions of the Author & is not a recommendation. Reader’s Discretion Advised.
▪ Cloud Based :
▪ Anywhere, Anytime Access – On the Go
▪ Simple & Easy to manage, no specific IT hardware / software required
▪ Cost effective, More as operational cost & not as capital cost
▪ Suitable for Small & Medium businesses
▪ Software upgradation / improvements happen automatically
▪ Backups are automatic, hence better data access capability
TOP 5 Cloud Accounting Softwares to choose, In 2017
#1● Stays ahead in the accounting
software race with its easy invoicing
and integration with online banking
and payroll
● Offers a real-time insight of all your
business indicators and business
reports.
TOP 5 Cloud Accounting Softwares to choose, In 2017
#2● Automates business workflows and is
customizable, just how small
businesses crave
● Is GST compliant, the much needed
feature of the hour and is also scalable
TOP 5 Cloud Accounting Softwares to choose, In 2017
#3● Serving SMB’s for more than a
decade, boasts of being user-friendly,
simple and time-efficient
● Aids in making quick and effective
business decisions with accurate
critical business data
TOP 5 Cloud Accounting Softwares to choose, In 2017
#4● Designed with a simple interface, this
powerful financial accounting software
is exactly the one for business owners
with minimal accounting knowledge
● Helps to track entire inventory lifecycle
from purchase to sales at ease and
also maintains positive cash flow
TOP 5 Cloud Accounting Softwares to choose, In 2017
#5
Reach Accountant
● Real-time consolidation in mobile app
thereby offering day end reporting via
sms or email
● Allows to track orders and send
quotes, also captures leads directly
from emails and website
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About RelativityWe make your Accounting Data speak.
Data into Insights into Action.
3x your growth. Triple your success by making better & informed financial decisions. Relativity’s Finance, Accounting & Payroll outsourcing solutions will help you focus on the essentials.
Visit us at www.relativity.co.in or
Contact [email protected] | 093611-41436
