10 Benefits of Accounting softwares

1. Accounting softwares are very useful to record correctly and fastly . With these software , accountant can maintain company's account payable , account receivable and payroll .
2. Accounting softwares are also benefited to do online accounting because 24 seven office , cubit accounting , lawson , NetSuite , Oracle E-business , Ubikwiti and tally.ERP 9 are made fully web based structure and with these accounting softwares , you can coordinate all the resources, information of Accounting from shared data stores or data base .
3. Accounting softwares are used to record the information about customers and customer interactions and accessed by employees in different company departments .
4. Accounting softwares are managing budgets and some accounting softwares are also helpful for fixing standard accounting performance according to trend of market and after this you can compare with your historical data . So by this accounting softwares are now becoming the part of management's controlling system .
5. Accounting softwares can be used by non accounting background personnels and also to record the transactions because , there are large number of accounting softwares can work on single mode without any knowledge of journal entries rules , you can record purchase , sale , receipt and payments .
6. Automatic time sheet can be easily made by accountants with the help of accounting softwares . Time sheet is a sheet which shows the record of worker's time spent on each job . When a factory worker enters into factory , he has to insert his time card into time record machine which is connected accounting software and when the employee goes from factory , he again inserts his time card into time recording machine . With this sheet accountant can get the information about when employee of company starts his work and when he ends his work . This facility can be also used for making payroll , client billing and calculating employee's incentives and bonus.
7. Accounting softwares are also providing the facility to transfer of money electronically . These softwares are used in Paypal , Electronic funds transfer (EFT ) and bill payments . Banks and other financial institution are using these accounting softwares for getting the benefits of convenience , privacy, increased efficiency of transactions, lower transaction fees .
8. Accounting softwares are useful to keeps control of its inventory because with these softwares , you can get the facility to track closing stock after recording raw material's quantities with different measurement units , rate and value .
9. Accounting softwares allow accountant to record transactions in multiple currencies .
10. In the modern age , accounting softwares are also providing the report of Business intelligence (BI) . Business intelligence is used for business decision support system (DSS). Analysis and use of large number of accounting information of Competitive can help to grow own business is main benefits of business intelligence (BI ) and it can be covered only by accounting softwares like Access Accounting and Sage Pastel Evolution .