Why Accounting Software?
Technology has revolutionized the world of business. SMEs as well as large organizations in UAE have permeated technology in their business processes. When it comes to the accounting section, accounting software is used to perform various financial functions like recording, analyzing and storing business transactions. Accounting Software stands as a clear surrogate for blue-collar management of financial records.
How can Accounting Software help your business grow?
Accounting software is a class of computer programs that enable you to manage your business’s financial transactions. By using accounting software, companies are able to use the resources in their accounting departments professionally and can trim down expensive bookkeeping mistakes.
- a) Cost-saving
A business owner can use the accounting software without outsourcing the work to an external expert for simple transactions and save the expense. It also helps you save money as it is a one-time purchase.
- b) Easy to handle
A beginner or a new employee with little training can use accounting software effectively in his own computer or mobile device
- c) Enhances productivity
An accounting software works more rapidly and smarter on transactional and computational tasks than a human being. One can get error-free and more accurate transactions on accounting software compared to manual work
- d) Secure and safe
Accounting software can secure the most valuable information about the company. By using this software one can decide who must have access to sensitive data of one’s business. The software provides manifold security features such as Barcode Integration, Production Management, Banking Integration etc.
- e) Quickly build realistic profit budgets to predict the future
Accounting software helps small business owners to continually assign transactions relating to income and costs to appropriate accounts. This in sequence helps the small business owner to recognize trends in income and separate the fixed and variable costs of their business for examination.
- f) Allocate resources and manage cash shortfalls
Accounting software can produce reports and analyze revenue and expenses with ease. This allows the small business owner to extract the information needed to create a cash flow forecast that can predict the closing cash balance. This in term allows the small business owner to use their thinking ability to grow the business.
- g) Better financial management attracts resources
Accounting software helps a small business owner administer his finances much better with instant access to financial reports and the easy preparation of future profit and cash flow budgets. This stimulates confidence in the business and its management by resource owners like banks, investors and suppliers.
- h) Accounting software will keep all the records up-to-date in one place.
Features Available in an Accounting Software
Accounting software relieves the business process as it includes the following features:
- Budget estimation and forecasting
- Fixed assets management
- Inventory management
- Accounting
- Billing and invoice
- Payroll management
IOA Accounting Software Services
IOA, as software consultants, perform an organized study of our client’s requirements and advocate the suitable accounting software pertaining to the client’s needs. We help out and accomplish the implementation of better accounting software in the UAE and to computerize the process. Besides providing accounting software services in UAE.
Training on the accounting software
Accounting Software is an application that allows a business to file and maintain the track of money for internal and external review. IOA helps you to select suitably and the latest Accounting Software for your company. Accounting software helps you decide the areas to cut expenditures or to capitalise more for growth. Having a better outline of your current financial status, it will be easy for you to develop clever strategies and assign resources in a proper manner. IOA provides free training in accounting software based on the type and kind if necessary our experts handle this with at most care.
IOA Training Services for Accounting Software Includes:
- Provide briefing of the software usage to the Accounting and operation team for the efficient use of the software.
- Preparation of Chart of Accounts in new accounting software.
- Migration of Data from old software to the new one.
- Preparation of Financial Reports as per the Monthly reporting to Management.
IFBS ERP System:
IFBS ERP is a complete accounting system product of IFBS management services based in Dubai, UAE known as the sister company of IOA. IFBS is the friendly user developed as per UAE accounting and VAT requirements. ERP consist on the following modules,
- Administration (Company info, Control penal, User, Audit trail)
- Master (Multi Currency, Document remarks, City & Country, Project costing……….. etc.)
- Inventory (Product, Stock transfer, consumption, Manufacture, Adjustment, Reports………. Etc.)
- Purchase/procurement (Purchase Order, GRN, Purchase Invoice, Return, Payments to Vendor, Vendors, Reports…………….Etc.)
- Sale (Quotation, Delivery Not, Tax invoice, Tax credit Not, Receipt from customers, Customers, Reports……………. Etc.)
- Accounts/financials (Chart of accounts, Vouchers (Expense, Payment, receipt, transfer), Reports………….. Etc.)
- VAT (Summery, Input details, Output Details)
- Fixed Assets (Depreciation, Disposal of assets, schedule)
- Help
IFBS ERP is a friendly user complete accounting software with fully controlled.