Accounting software is making the lives of accountants pretty easier. This software has integrated the end-to-end processes pertaining to a business at one place. It offers a fast, accurate, safe and resource-efficient way of performing, monitoring and analyzing the business interactions of financial nature.
Many software like QuickBooks offer the added advantage of responsiveness and remote access and makes it easier for the accountants and the decision-making entities to have required information with them even while on the move.
Some of the most important activities performed by the accounting software that covers the business activities end-to-end are mentioned below.
- Generation of reports automatically A business environment generates lot of data which needs to be reported and sent to the concerned authorities regularly. If there is a system in place that allows generation and sending of reports in a scheduled manner, no process goes off the radar. Simply by including the details such as recipient email IDs, generation frequency and the duration of report, one can regularize the report sending work. Be pre-defining the user roles, one can grant access to the reports according to the relevance to the work done or roles played by them.
- Smart searching of information A business may require the support of banks, financial institutions and other lenders for meeting the operational objectives. Association with these generates lots of account numbers, customer IDs, etc. The smart search allows the users to search the information by entering any of the easily memorable fields. It saves lot of time and adds accuracy to the process. Also, the correct details help in doing the transactions in error-free manner.
- Tracking of bills Lot of purchasing and vendor management goes into a normal day of work at business. The ability to track the status of the bills and the notification system about the pending payments make it easy for the accountant to find the correct financial health at any point of time. The management of payables becomes easier when the bills’ status is available and alerted about on time.
- Download transactions All the transactions done through bank or credit card account become easier to track when it becomes possible to download them at one place. The accounting software allows downloading of the transactions and statements in the period-specific manner directly into it. Thus, you need not maintain multiple records. The software can provide the information of transaction done under different heads at one place. Thus, the overall picture of the expenses and earnings is generated swiftly.
- Customer information All the details of customer are required for finding the nature of relationship. Software should offer ease of operation to any new user. The customer information feature tabulates all the details about the existing customers at one place. How they are related to the business and payment pending or closed deals make useful piece of information for any new hand in the system. This allows the users to find the receivable or payables in one go and also helps easy takeover of the accounting process by a new user.
- Inventory information Accounting software also has the head for inventory status. The account of finished orders, raw materials available, etc. forms an important part of production plan. The accounting software can reveal the inventory details to the relevant entities in the organization and help them make purchase plan with added awareness. This software makes it easy to tackle the situations like increase in demand, promotional campaigns, etc. The process of warehouse management can also be brought into the mainstream with this feature of accounting software.
- Reports and forms template support Accounting software is designed to automate the repetitive processes happening in any business environment. Since there are pre-defined formats and templates applicable in any business, availability of the same in the accounting software saves the effort. It also helps in compliance with the regulations and eliminates errors of any sort. The software, therefore, makes it easy for the business to maintain professionalism in the matters.
- Memorizing of transactions There are various transactions of repetitive nature such as EMI, rent, recurring estimates and invoices and so on. The pre-fed information in the accounting software allows the business owners to find the fixed cost structure of the establishment. They can also arrange for the payments beforehand when the timely alert reaches them from the accounting software.
- Sending invoices Businesses need sending invoices on a regular basis to the clients, vendors, suppliers and others. The accounting software can be pre-loaded with invoice template for ensuring uniformity. Also, the invoices that are of recurrent nature can be scheduled to be sent in advance in the accounting software. This makes the process of sending invoice systematic as well as regular. The invoice can be sent from any third party mailing application such as Gmail, Yahoo, etc.
- Manage contacts All the contacts stored in excel or the contact book in Gmail can be imported to accounting software. Thus, all important email IDs and phone numbers stored at one place make the communication faster and easier.
How to download accounting software QuickBooks
All the features mentioned above must have charged you enough to download the accounting software on your desktops. Here is how it is done.
- Go to the QuickBooks download link or visit its website to get the downloadable version
- Select the region as applicable
- Select the applicable version. Please note QuickBooks is available in various versions such as Pro, Enterprise, Premier, Accountant and so on. You can read about their features first and then select the one.
- Press Search.
- Your product image appears with a button that says ‘download’. Click download.
- After running the set up and setting certain permissions, the software is ready to use.
The accounting software QuickBooks for desktop is certainly a useful tool that makes the management of the businesses easier and accurate. This software brings an element of automation in the business processes. It can also help in payroll management by integrating it with the employee information.