cloud accounting software

Increased Adoption of Accounting Software

Adoption of Accounting Software, Cloud Accounting Software, Accounting Software, Singapore Accounting Software

Accounting Software automates and accelerates the work of an accountant or bookkeeper by reducing or simplifying recurring tasks like paying bills, entering double entries, issuing of invoices and generating several types of financial reports. These days various Accounting Software has an auto-matching feature which facilitates the performance of monthly bank reconciliation.

With the introduction of Cloud Accounting Software, it brings immense convenience to users by allowing them to simply record transactions, retrieve accounting information, issue invoices and produce reports on the go, anyplace and anytime. For businesses, such convenience at a reasonable cost only means bigger adoption of the Accounting Software over the years. We trust its popularity will keep on going.

New buyers made up a major portion of the market for accounting software last year, at 37 percent. More companies are finding that inheritance accounting systems can’t stay up with their needs and say that online accounting software is more in line with their company processes. The findings, revealed in a survey, point towards an express increase in the adoption of accounting software, as well as the adoption of cloud computing.

More than one-third of upgrades last year was QuickBooks users, and 11% come from Sage 50. One-fifth of buyers were looking for functions that go beyond accounting, such as payroll, inventory and invoicing. Bigger companies tended to hunt for business intelligence capabilities: Businesses with more than 50 employees were over 70 percent more likely to need software that handles budgeting, business intelligence, and fixed assets.

The buyers looking for the major additional feature aside from core accounting, invoicing, inventory management, payroll, order management, and procurement.

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Does Your IT Services Company Understand How Your ACCPAC Software Works

Does Your IT Services Company Understand How Your ACCPAC Software Works 1280 x 780

Does Your IT Services Company Understand How Your ACCPAC Software Works

ACCPAC software is properly integrated and streamlined to suit the particular needs of your company or organization

Does your IT services company really understand all the customized features which you can find using this powerful tool? Is you company getting the most effective use from this vital software?

ACCPAC provides many vital tools that can be adapted in a variety of custom templates including:

  • Accounting and Finance
  • Sales and Customer Management
  • HR and Payroll
  • Business Intelligence and Reporting
  • Purchasing and Supplier Management
  • Inventory Management and Warehousing

ERP or Enterprise Resource Planning is a vital process for any company that is growing and expanding their markets and customer base.

It is equally crucial that your IT services company understands all the features of ACCPAC software so that the software is properly integrated and streamlined to suit the particular needs of your company or organization. Every company is unique. The service provided or the product line each company uses will vary from industry to industry, and your IT services company must also understand all the nuances and ways to effectively customize this software to tailor fit your company.

ACCPAC accounting software integrates all your needs in one package to achieve your goal oriented solution.

Your IT services company must understand and be able to understand how ACCPAC can best applied to your company with the following aspects:

  • Panning out your objectives
  • Installing and Implementing the right ACCPAC solution
  • Provide training to all applicable employees
  • Customize the product to suit your special needs
  • Provide the most beneficial reporting system to fully examine your business analysis and forecasts
  • Provide day-to-day support for macro management
  • Provide the most appropriate ecommerce solutions

If your company isn’t getting the most out of this incredibly valuable accounting software because your IT services company just isn’t up to snuff then it might be the right time to move to a company that fully understands the comprehensive nuances of ACCPAC software.

Source : computerhelpnj

For free demo please visit www.singaporeaccountingsoftware.com

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Revenue Recognition Software

Revenue Recognition Software

Revenue Recognition Software Helps Tech Vendors Meet Accounting Rules

Software Vendors that are gradually shifting from on-premises to Cloud Deployment

Today, in the decade of cloud computing, it is significantly different. You have a subscription model and customers might move up and down in the subscription. You have an unpredictable fluctuation of your subscriptions and therefore of your business.

Revenue recognition issues also affect more traditional industries that have fluctuating revenues, such as utilities, especially private ones that provide energy from renewable sources, like solar and wind, and aren’t price-regulated monopolies. Given FASB’s stated intention to unify industry-specific rules into a single revenue recognition standard, and to merge that with the standards its global counterpart, the International Accounting Standards Board (IASB), promotes, most companies will soon fall under its purview, say software vendors and users familiar with the process.

While compliance issues are driving initial demand for revenue recognition software, companies can get additional benefits in the areas of financial planning and forecasting. Software vendors that are gradually shifting from on-premises to cloud deployment are a prime example. “They know that if they shift over 10% of their customers into cloud subscriptions, they have a dip in the balance sheet, because the revenue gets shifted into a deferred model”.Without the more nuanced view that revenue recognition software allows, financial analysts might believe something is wrong and undervalue future opportunities to increase market share, for example. Good revenue recognition software can therefore be a change-management tool to transform traditional independent software vendors (ISVs) from the perpetual license business to the cloud business.

Revenue recognition software could also boost companies’ profitability, according to reports published around the time of the FASB changes. Generally Accepted Accounting Principles guidelines overseen by FASB, companies had to estimate a fair value for each element — evidence of which could be hard to find. They would often wait for all the pieces to be delivered before counting any revenue on their books. Under the new rules that Apple and 33 other respondents argued for, companies can allocate the revenue based on certain percentages. In many cases, that means being able to report and use revenue much earlier than before.

Source : www.searchfinancialapplications.techtarget.com

For free demo please visit www.singaporeaccountingsoftware.com

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And The Best Small Business Cloud Accounting Software Is…

Cloud Accounting Software

Cloud Accounting Software

The Best Small Business Cloud Accounting Software

Source: Forbes Magazine
1. Online applications are not for everyone. Although the benefits are many, the book stresses that there are tradeoffs, including their dependence on a good internet connection and a culture that accepts less control over your data. As I’ll further describe below these applications mostly lack certain advanced features, have potential data and user limitations and contain less functionality for certain vertical industries.

2. The applications reviewed are still immature. Most do a good job handling the accounting basics, from invoicing to payables management to general ledger postings. But companies looking for more complex processing such as advanced inventory management, purchase order control, human resources, CRM and detailed fixed asset management are not good candidates for these products. End users looking for the ability to significantly customize the applications or implement advanced workflow processes will likely also find themselves disappointed.

3. The applications are mostly horizontal. Right now, they’re designed to handle the bookkeeping needs of most small businesses, regardless of their industry. But most small businesses I know have more industry specific requirements and will not have their needs addressed with these services. I’m keeping my eye on some of the up and coming online products not reviewed, like Plex for manufacturers and ServiceMax for people in the service industry, as well as bigger players like Intacct and NetSuite. The author’s approach for this book was to focus only on applications for micro-business, small business and invoicing. I’m not so sure they had much of a choice otherwise. There are few players on the market yet who do much else.

4. Online applications are positioned for an online world. They are all geared towards the mobile user, with access from iPhones, iPads and Android devices. They like to integrate with banks and online payment services. They are fighting with each other to partner with other online leaders like PayPal, Square, Bill.com and DropBox.

5. There are data and user limitations. As previously mentioned, the applications reviewed in this ebook are all geared towards micro and small businesses. To this end, the reviewers warn that even though some of the service providers say they can handle as many as a thousand transactions a month or even unlimited users you should still do your due diligence.

The book does a good job at breaking down and comparing the most popular deliverables offered by these applications and covers 18 categories of functionality including reporting, sales tax, inventory, job costing, payroll and fixed asset tracking in addition to the basic accounting and banking features. My only suggestion is to consider offering the book as a paid for monthly or annual service that’s continuously updated, just like the products it reviews. That way I can be assured of the most current information while I go through my research.

The Sleeter Group also steps up and names which online accounting products are the best for both the micro and small business categories. And who are the winners? Oh, wouldn’t you like to know.

Besides Forbes, Gene Marks writes daily for The New York Times and weekly for Inc.com.

To avail the best cloud accounting software please feel free to reach us on www.singaporeaccountingsoftware.com

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