1. Cloud-based accounting software program
If you work within the cloud, it’s simpler to retailer knowledge and again it up. You gained’t run out of cupboard space irrespective of how massive your small business grows. Cloud storage can be an asset if it’s important to entry your knowledge on a number of units or make it accessible to colleagues and purchasers.
As a native Salesforce app, Accounting Seed’s accounting software program shops and backs up your knowledge within the cloud. Right here’s a useful useful resource from Salesforce on the advantages of the cloud.
2. Billing clients
Accounting software program for accountants makes it simpler to monitor billing and acquire funds. With accounting automation, you may ship off an bill as quickly as a sale closes, or set common clients up with a recurring billing plan.
3. Paying Distributors
Writing checks, ordering checks, and recording enterprise bills can burn up a variety of time, notably if your organization has a big workforce submitting expense studies. accounting program for accountants can print checks straight from the cloud, automate funds, and report purchases in accounts payable as quickly as they happen.
How Can You Modernize Vendor Fee Processes? Learn our information to seek out out.
4. Entries In The Basic Ledger
Accounting software program for accountants can format your ledger to incorporate and title as many accounts as your organization’s want—and get rid of those they don’t. In case your group does enterprise abroad, accounting automation can deal with the foreign money conversions for transactions recorded within the ledger. (Be taught extra in our International Change Accounting information.)
Optical scanning know-how can enter a hard-copy bill or invoice straight into your accounting program. That reduces the chance of error that comes with guide knowledge entry.
5. Dashboards and Studies
As soon as accounting automation takes over the routine elements of your job, it frees you as much as present firm management with deeper analyses. Good accounting software program for accountants affords dashboards that make it straightforward to check gross sales metrics, accounts payable, money circulation, and different enterprise financials.
A well-designed interface will assist you create studies and current the numbers to your bosses in an simply comprehensible means.
With Accounting Seed, your monetary knowledge is pulled into related Salesforce dashboards as nicely, making it simpler to entry knowledge out of your Content material Administration System (CMS.) Be taught extra about leveraging Salesforce and Accounting Seed dashboards for your small business in these useful guides:
6. Stock and Orders
Monitoring stock beneath a standard system requires a variety of guide labor, notably if a shopper has a number of warehouses and gross sales shops. Accounting automation can simplify issues by mechanically adjusting stock ranges when a sale goes by.
Accounting software program can monitor stock ranges in actual time. It might reserve stock for particular buyer orders, and buy substitute stock if a stage sinks too low.
7. Undertaking Accounting
With out accounting automation, challenge accounting requires additional knowledge entry. It’s important to monitor the bills and income related to every challenge, then finally re-enter the numbers into the final ledger. Accounting software program for accountants can combine challenge ledgers with normal ledgers. You solely must enter a transaction as soon as to indicate up in each account books.
In search of some professional suggestions for enhancing your challenge accounting processes? Discover the Information to Undertaking Accounting.
8. Tax Accounting
Monitoring taxes—revenue tax, gross sales tax, property tax, payroll tax, and so forth—and all of the associated exemptions, deductions, and charges can change into a large drain in your time. If an organization sells retail items in, say, six jurisdictions, that usually means you’ll have to trace six completely different gross sales tax charges. Worse, charges and guidelines can change any time a neighborhood, state, or federal authorities decides that it’s obligatory.
Accounting automation takes the duty off your palms for monitoring charges and calculating taxes. You’ll have extra time to advise government management on learn how to reduce their tax invoice, as a substitute of simply calculating it.
Be taught extra about Accounting Seed’s gross sales tax accounting automation.
9. Information Safety
Inner knowledge saved in your accounting software program would virtually actually be worthwhile to your competitors. The danger of exterior or inside hacking is a reality of life, however the perfect accounting software program for accountants comes with strong safety features. These defenses might embrace a safe API, two-factor authentication, and monitoring for doable knowledge breaches.
Be taught extra in our information to Accounting Cybersecurity: The whole lot to Know.
10. Configuration and Customization
Completely different accounting departments want completely different accounting automation options. In case you concentrate on working with eating places, your industry-based accounting wants will differ from, say, for those who labored with banks or oil corporations. Shopping for software program you may customise and configure to fit your accountants’ wants is good. For instance, this system you purchase needs to be scalable, to deal with extra purchasers and accounts as your small business grows.