Business accounting softwares are the softwares, which helps in carrying out the procedure of maintaining the account of a company. This software helps in the storage and processing of the information regarding the accounts of the company. These softwares handle various modules of the accountancy like accounts payable, accounts receivable, payroll and trial balance. These

accounting softwares are an integral part of every company these days thus many of the companies develop these softwares in their own company and some of them buy these softwares from the market. Since the rise in the demand of these softwares they are available in the market very easily and in varied forms. The buyer must be very careful while choosing the software as the functioning of the business organization greatly depends on these softwares.

Functioning of the Software

There are various modules involved in the accountancy. All these modules collectively work together to achieve the desired result out of accountancy software. Each module in the accountancy software is meant to work out a particular area of the accountancy. Thus to know the functioning of the accountancy software it is very important to know the functioning of the various modules of the accountancy software. There are two basic modules working for the accountancy software. They arte core module to execute basic functions and the non-core module to execute the miscellaneous functions.

1) Core Modules: All the functions under this module are designed to meet the basic requirements of the accountancy. Thus it is the major part of the accountancy software.

Accounts receivable function: this is the function that keeps a track of the funds received by the company through various sources.

Account payable of the company: this function keep track of the various bills that has to be paid by the company. It also keeps a check on the money owed by the company through various other sources.

General ledger function: this actually one of the main modules of the accountancy software. This software helps in the basic functioning of the bookkeeping in the accountancy. This module actually helps in the processing of all the available data.

Billing function: this function helps in creation of the invoices for various client of the company. This module prepares the bill for the company, which is then forwarded to the clients.

Inventory management function: this function helps to keep a track of all the goods received and moved out of the company. This function is very helpful in making the optimal use of the warehouse.

Purchase order function: this function is very useful in the placement of orders for the inventories of the company. This helps in keeping a track on various requirement of the company and get them before due time.

Sales order function: this function helps to keep track of the various orders placed by the customers. This function helps in maintaining a record of as to which particular inventory is needed to be dispatched. This is also done in accordance with the popularity of a particular product.

2) Non-core Modules: this is the module, which helps in doing various miscellaneous functions that adds value to the software. There are various functions though are very necessary but does not come under the basic module of accountancy. Such functions are very important for the smooth running of the business.

Debt collection function: this is the function, which manages the outstanding invoices of the company. This helps in tracking the overdue bills and maintains the record of these bills as to what is the nature of the bill and the time duration of the bill.

Expense function: this function helps in monitoring all the expenses related to the business organization.

Inquiries function: this module is there to assist the people working in the company with various information regarding the company. This function displays the information without any edition or addition in the content of the information.

Payroll function: this function is related to keep record of the employees of the company. This record includes the salaries, wages and the related taxes of the employees. This function also keeps the record of various other aspects of the employees. This in a way helps to decide the annual budget of the company.

Report function: this is the function, which helps to get all the information in the physical form of data. Through this the accountancy related informations could be printed or scanned to use them in various other source.

Timesheet function: this function is particularly used by the attorneys and the consultants who work on the basis of duration of time. This function record the duration of time for which the work has been done. Then the bill is being prepared in accordance with the amount of time the company has worked for the client.

Advantages of the Business Accounting Software:

The business accounting software is advantageous to both the smaller and bigger organization. The nature of the function of these softwares generally changes when they are used in a big organization than a small organization. But the basic functioning of the software remains the same. Herein some of the advantages, which are common to all, are being discussed.

There are various accounting tools required to execute accounting. Thus due to this software all the accounting softwares are there at one place.

An automatic check on the expenses can be kept as this software helps to get the daily report on the expenses of the company. Thus according to this strategizing can be done.

This software can create invoices within no time, which is otherwise not possible manually. The invoices created by the software are freed of human error thus are very accurate.

Through this without spending much time the exact report can be sought out. The searching of a particular report is very easy with this software.

It can be easily calculated that how much the employees are costing the company through tracking their salaries, wages and duration of work.

Due to this softwares time spend in the payroll management is almost negligible.

The business accounting softwares are useful for both bigger and smaller business organizations. The purchase of the software should be made according to requirements and the nature of work of the company.