Multi Features of Small Business Accounting Software
Business Intelligence
Small Business Accounting Software gives you production financial reporting, dashboards, Business Intelligence coupled with drill-down all in one package.
Easy-to-use, fast, powerful reporting without IT
Graphical visualization
Accurate info in real-time
On-demand dashboards and pivots
Workflow
Enhances your control and oversight of all internal control functions by providing a visual medium for the setting up and monitoring of all your authorization and review processes.
Visualize then actualize your approval process
Automatically route tasks and assignments
Automates responsibility and accountability while providing visual clarity of routing activities
Budgeting & Forecasting
Budget and forecast your organizations long and short-term goals. Create budget approval workflows and compare budget to actual results. Budget various ways using general accounting structure, payroll or allocations.
Collect budget inputs into a single point of truth
Improve budget planning driven by behavioral analysis of historical data
See process status at a glance
General Ledger
Puts the financial information you need within reach, and guarantees you timely access to the information your organization requires, both now and into the future.
Helps you comply with regulators & auditors
View performance data from any perspective, from a single database
Eliminate errors & extra work
Operate in multiple currencies
Accounts Payable
Gives you complete control over payments and payment strategies, without the need to involve your IT personnel to get the job done. Built-in policy tables enhance control, speed processing and make it easy to tailor system functions to your unique requirements.
Control cash with ease
Get the most out of your banks
Enhance vendor relationships
Accounts Receivable
A comprehensive system for managing receivables, cash receipts and customer credit that allows you to control this critical business function, yet retain the flexibility you need to adapt to changing business conditions.
Collect cash efficiently
Stay ahead of credit and collection problems
Adapts to any business model, so work the way you know best
Know what is Accounts Payable ?
Accounts Payable
Definition of Accounts Payable:
SOURCE: ACCOUNTINGTOOLS
Definition: Accounts payable is the aggregate amount of an entity’s short-term obligations to pay suppliers for products and services which the entity purchased on credit. If accounts payable are not paid within the payment terms agreed to with the supplier, the payables are considered to be in default, which may trigger a penalty or interest payment, or the revocation or curtailment of additional credit from the supplier.
When individual accounts payable are recorded, this may be done in a payables subledger, thereby keeping a large number of individual transactions from cluttering up the general ledger. Alternatively, if there are few payables, they may be recorded directly in the general ledger. Accounts payable appears within the current liability section of an entity’s balance sheet.
Accounts payable are considered a source of cash, since they represent funds being borrowed from suppliers. When accounts payable are paid, this is a use of cash. Given these cash flow considerations, suppliers have a natural inclination to push for shorter payment terms, while creditors want to lengthen the payment terms.
From a management perspective, it is of some importance to have accurate accounts payable records, so that suppliers are paid on time and liabilities are recorded in full and within the correct time periods. Otherwise, suppliers will be less inclined to grant credit, and the financial results of a business may be incorrect.
Other types of payables that are not considered accounts payable are wages payable and notes payable.
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