It's
nonsense to perform accounting activities manually in 2020, without using
accounting software.
Similarly,
it's unproductive to perform the activities on regular software, instead of custom accounting software.
Hence,
today we’re going to share the essential features that your custom software
must-have for the ultimate benefits.
Here
are the details:
Calculate Taxes:
Accounting
software needs to perform tasks related to
●
Taxation
●
Payments
●
Reporting
Moreover,
it should also handle the VAT and other taxes.
As
you’re planning to pay a significant amount for software, so you deserve to
enjoy the maximum ease in those matters.
Generate reports:
Based
on your business size, your accounting software needs to provide reports on a
monthly or quarterly or an annual basis.
Advanced
accounting software is embedded with features like:
●
Auto reporting,
including auto-mail services.
Thus,
try to get a premium accounting software to use those options and make the
accounting operations up to date.
Handle Invoices:
A business should send and receive invoices to its clients and dealers for
transparency.
For
that, the accounting software should do the above tasks automatically, besides
it has to manage:
1)
Invoice orders
2)
Prints
3)
Emails
4)
Store your partner's data
This the last feature is available in advanced level software, which requires more
charges.
Integrate with other
software:
It must
integrate with existing software to keep the procedures' inflow.
You
can't change your digital system just for a single software.
Thus,
ask your developer to create software that can collaborate with various software
without any problem.
The
commonly used other software are:
●
CRM
●
e-commerce platforms
●
online banking
software
Process payroll:
The custom accounting software
should facilitate in calculating and managing salaries automatically.
Humans
are bound to mistake like errors and delays; that's why there should be the
least human intervention.
Furthermore,
it should compute bonuses and fines.
Therefore,
don't forget to include those options in the custom software unless you want to
regret later.
Set multiple access
levels:
Create
several access levels by setting passwords for each level in your software.
For
instance, you may set a specific level for:
1)
Managers
2) tech
staff
3)
regular employees
And
others.
We
recommend you to create 5-6 levels for efficiency.
Support e-payments:
Enable
the software for the digital banking system to amplify your business
productivity, like
●
Credit card
●
E-wallets, e.g.,
PayPal
Thereupon,
inform your software developer to integrate digital banking features in it.
Track expenses:
Use the
custom software to make a record of your business expenses.
You
shouldn’t rely on your employees for that because they can't be as efficient
and accurate as the software can be.
Consequently,
make the software designed for tracking expenses as well.
Visual data:
Psychologists
say that humans comprehend visual data more quickly and with a better
understanding than in other formats.
Therefore,
besides those features, the software has to transform all the data in visual
form of:
●
Charts
●
Graphs
●
Diagrams
Because
of it, you can analyze the data and evaluate your business performance in the
best manner.
Conclusion:
Based
on the above,
Please
note down the summary of the points and keep them in mind when guiding your
developer about the software features.
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