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Accounting Software - Overview

A good accounting software system is designed to give financial control of your business. It is designed for people with little accounting knowledge. It is designed to make the financial administration of your business easier. It is designed to save you time. Businesses with a good accounting software systems have a better chance of doing well.

Choosing the right accounting system for your business is important. Choosing the wrong system could be a costly mistake. Before recommending a system to you, at Amel, we will take the time to understand your business and it’s requirements. We will ask the right questions to determine which system best matches your requirements.

Having done this we will recommend a system that best matches your business requirements. We consider carefully your current requirements but we also take into account your future plans and build into the requirements future potential development of your business so you are not purchasing a system with a short shelf life.

We will then arrange a free of charge, no obligation system demonstration.

We work closely with both QuickBooks and Sage Accounting Software Packages and are confident that we can offer a package that adds value to your business.

In particular, a good accounting system will allow you to be up-and-running quickly, easily with little accounting knowledge. It will provide comprehensive help and support which is context sensitive. It will allow you to amend mistakes with speed and ease.

It will be an integrated system covering all of the financial areas of your business. This means it will cover all activities associated with:
Customers: from estimates, quotations, invoicing, statements, receiving and allocating customer payments, credits and refunds. It will identify at any point in time how much each customer owes you and based agreed credit terms when payments are due.

Suppliers: enter supplier bills and allocate costs according to the type of expense. The system will identify at any point exactly how much you owe to suppliers and based on agreed credit terms when you need to pay those suppliers. Remittance advice can be produced to support supplier payments.

VAT: Manage all your VAT in one place. Systems allow for Accrual, Cash Accounting and flat rate schemes. It makes your VAT return process much simpler and provides detailed reports to assist in understanding what is behind your VAT returns. System generated VAT 100 reports are available in the same format as your VAT 100 return, making the paperwork a dream as opposed to a nightmare!

Banking: As you process customer receipts and make supplier payments they are automatically posted to the system bank account. You can write cheques on the system, transfer money between different accounts and set-up automated standing orders or direct debits. It puts you in control of your finances, you know exactly how much is in your bank at any point I time. You will know before you write a cheque if there are sufficient funds in your account to cover it. The system also makes bank reconciliations easy.

PAYE: If you employ staff you can use the system to calculate gross to net payroll calculations and to track payroll liabilities automatically. You can also monitor such things as holidays and sickness within the system.
Stock Management and Control: If you buy and sell products then there is an option to mange your stock covering purchase ordering, sales and stock reporting.

Reporting: As you would expect the reporting is comprehensive. A good reporting system will allow you to:

  • See where you can save money
  • Improve your cash flow though a better understanding and planning accordingly
  • See at any point the business earnings and expenses
  • Make better informed business decisions and plan ahead
  • Find out who your best customer is
  • Track costs and profits to specific projects or customers
  • Find out which products or services are most profitable to your business
  • Handle everything to do with product or services
  • Manage your credit control more effectively
  • Control budgets for key areas of your business
  • Produce regular management accounts suited to your specific business which gives you greater financial control.

If you decide to purchase an accounting system we will be with you every step of the way. We can assist with the system set-up, provide training covering all aspects of system use and functionality and also help you with understanding the comprehensive system reports that are available. That support is available to you even after you are up and running with your system. If you need support using any part of the system we will assist you either over the phone and we also provide an email reply service.

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