The most important accounting standards of your Company accounting software

Published By Omar Safwat
Date of publication 2019 December 22

 


 

    Since accounting software has become a necessity not a luxury with modern technology in manufacturing and machinery that depend on artificial intelligence and computing systems , we prepared this article to be your guide in purchasing accounting software .Of course any company using paper based system won’t be able to cope with developments and get its marketing share , so we have to  agree that purchasing accounting software and ERP systems is an inevitable decision that has to be made . But before applying modern technology in administration the company should check the efficiency of its employees and their performance . Also the employees should accept the idea of using accounting software and ERP systems . However there are a set of standards to consider when purchasing accounting software the most important of which is to select  the accounting software that is related to the company activity .

 

An Arabic and English accounting software for all business activities 

There is an infinite number of activities that appeared as a result of competitiveness and the variety of economic activities . Consequently, a lot of  software to serve these various activities . There are a lot of companies accounting software :

1- Accounting software for import and export companies .

2 -Accounting software for construction companies .

3 - Accounting software for trading companies.

4 - Accounting software for agricultural manufacturing companies.

5 - Accounting software for restaurants .

6 - Accounting software for supermarkets and ISHOP systems .

7 - Accounting software for hotels .

8 - Accounting software for hospitals .

Thus every activity has its own accounting software which presents appropriate solutions but the company has to select the software that matches the nature of both its present and future  activities . Unless the used software is related to the company activity , it will be a waste of time and effort and a failure which influences the concept of ERP for the employees . Therefore the appropriateness of accounting software to the nature of the company activity is one of the important standards in purchasing the accounting software . So the company should consider it as much as the cost of the software because it might be cheap but useless for the company. Nevertheless the cost of an appropriate software may be less than the resultant loss from purchasing the wrong software .

 

Financial accounts administration of the company :

 The development of accounting software and ERP financial systems has led to a technological revolution in the field of accounting  software for companies . In the past paper based systems were very slow with a high rate of human mistake .Add to this the time and effort  wasted to get a report and the need for a big number of employees  ( human factor ) . Although there were a  lot of employees , outputs weren‘t obtained  as fast as today nor the information was presented to the top management to make decisions . Moreover  it wasn’t possible to connect all the departments and branches of the company as nowadays . Today with accounting software we can input financial data quickly without the need for human interference and as accurate as possible due to the robust  monitoring of performance . In addition the number of  the  human factor is decreasing and also the time needed to get financial information  . Now all users can review data any time and anywhere accurately without a single human mistake . If for example the project management presented a purchasing request so this affects the procurement management and after purchasing with a bill and transferring materials  to warehouses the warehouseman receives them. This process affects financial  ( supplier’s account ) , production and cost management . Moreover it affects procurement management through closing the purchase order as ( imported ) . All this takes place within a few minutes with no human interference . This is also applied to many other activities: attend and leave prints of the employee affect human resources management concerning his personal file and evaluation ( commitment and punctuality , the financial management is affected in employers’  payrolls just as they click attend and leave prints . All of these processes and more helped in developing companies  administration and business .

 

How to use accounting software for organizations ?

To use an accounting software the company must be ready in terms of the readiness of its employees to understand and apply the principles of modern technology and also to accept the software because it only works in the appropriate environment . I f the whole company realize this  ,it can use accounting software in many ways such as :

1 - Using and applying the accounting software for the company as a whole .

2 - No delay in the processes of data input or output to get perfect reports .

3 - aTask assignment without confusion in order to obtain data easily and accurately.

4 - Applying accounting standards on the level of the company and approving accounting software . 

5 - Not use a paper based system again so as not to cause confusion and failure of accounting software.  




 

The importance of accounting software for the company : 

At present accounting software has become necessary for companies of different sizes ( large - mid-sizes -small ) and activities to run their business . It is not sensible to use  a paper based system in this technological world in order to guarantee development and ability to compete in business . Here comes the role of accounting software to plan the company resources management using all modern technology to avoid any human mistake . Can you imagine the absence of accounting software in the supermarket , it was hard for the cashier to calculate the sold items and the items in the inventory and it took too long to issue a bill for any customer . Furthermore , a company with 10000 employees without the attend and leave print system , of course it would be very difficult to compute their times accurately to calculate their wages . Without accounting software , it would be hard to calculate the cost centers expenses and to plan production because of the inconsistency of data . In a construction company you can imagine the absence of accounting software , how can you connect the sites to the headquarters and response to their needs of materials or even cash and check their balances Real estate investment using  accounting software means to monitor clients’ accounts accurately and to review the installments and all data of the client constantly and instantly .  As for banks you can use accounting software to check the client’s account and figure out all his transactions and connect the bank accounting systems to the ATM. We can\t number the activities at which accounting software ERP is useful . The fact is that accounting software is now a necessity. We can't live without electricity or the internet which are major in our daily lives . 

 

The features of company accounting software 

Accounting software has many features but ACCFLEX accounting software has more features considering its cost  , for example :

1 - Quick , accurate and flexible financial data input .

2 - Quick , accurate and flexible financial reports anytime by all users .

3 - Operating as one unit through connecting all the departments and providing them with required information to achieve their work .

4 - The top management will be able to make important decisions using the accurate financial reports of business and costs in order to know the  company financial indicators to avoid any wrong decisions . 

5 - Accounting software excludes any human mistake through the robust  monitoring systems included in the software .

6 - Accounting software cope with the technological development in business by using the modern techniques and connecting them as print systems and machine operating software . Moreover it provides the financial administration with required data to calculate costs automatically without any human interference .  

7 - Minimizing time and effort by reducing the number of employees needed to canary out the work which saves costs for small and mid-sized companies that seek the best product with the least cost to compete in business .

8 - Accounting software creates real opportunities for competition and guarantees the interconnection of the companies .

9 - Increasing  creativity  through providing time and suitable systems to highlight the talented employees which help the company .

10 - Help in company development and growth and transformation of small and mid-sized companies into large ones as well as increasing the marketing shares of large companies . 


The most important questions

 

What is accounting software ?

ACCFLEX accounting software is the most famous accounting software which is distributed by its flexibility in administrative and financial affairs and this helps in saving time and effort as well as eliminating human mistakes and organizing clients’ service .
 

What are the most used accounting software ?

ACCFLEX accounting software is recorded as the most used in Egypt and The Middle East due to its distinctive features including extreme accuracy , flexibility and speed to maintain all financial and administrative transactions in companies and organizations .

 

What is the most important accounting software for companies and organizations ?


It is common that each accounting software for companies . factories , department stores and organizations have a single unique software that makes it special . As for ACCFLEX accounting software , they are all special and different from any other software.

 


What are the features of the most used accounting software ?


Accounting software has a lot of features but when compared to ACCFLEX accounting software the achieved work will be much less than the cost . Accuracy and flexibility of data input and output are among many distinctive features of ACCFLEX accounting software .

 


What are the prices of accounting software in Egypt and Saudi Arabia ?

Prices of ACCFLEX accounting software are suitable for companies . factories , department stores and organizations of different activities .
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