Customization: Chances are that no accounting software will exactly match your business's needs. Tax laws, regulations and financial practices change over time, so it's vital to use software that receives fast, user-transparent, automatic updates.ĥ. Automatic updates: Using out-of-date accounting software is like eating food that has passed its expiration date - a risky proposition that could result in severe nausea. Many companies require the full automation of employee expenses, payrolls and time sheets company and departmental budgets purchase requisitions and other complex financial activities.Ĥ.
Automation: For many businesses, support for simple accounting transactions and basic financial management tasks just isn't enough.
Yet graphics, in the form of charts and other illustrative formats, is a powerful tool that can be used to present trends and other concepts in a way that numbers alone can't convey.ģ. Graphics: Accounting is a numbers-focused activity. The Sarbanes-Oxley Act, Basel II Accord and other stringent regulatory guidelines are putting mounting pressure on businesses and finance managers to ensure the accuracy and timeliness of published financial information.Ģ. Besides helping users gain insight into crucial financial activities, reporting and analysis functions help companies conform to government and industry regulations. That's why any accounting program you evaluate must have robust reporting and analysis capabilities. Reporting and analysis: Information is power in today's challenging business environment. Many others, however, are marginally useful or nothing more than marketing gimmicks.ġ. Some of these features can be considered indispensable.
Yet beyond these core attributes lie dozens of other features, covering a vast array of functions and services.
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