Book-keeping & maintaining of Accounts is an important
and integral part of a successful business operation. Without knowing the
financial status of your company/business it is impossible to take decisions
related to it. The process of recording all transactions of a financial nature
is called as Book-keeping and is part of the Accounting process of a business.
The transactions include sales, purchases, receipts and payments done by an
individual or an organization.
Any business will have multiple financial transactions
associated with it every month. All of these transactions have to be recorded
correctly so as to be able to deduce whether the business is making money or
losing it. After all, there is no point in continuing to run a business if it
keeps losing money. Apart from that, it is also essential to keep a track of
financials from a tax point of view. Every country has tax laws that have to be
obeyed, especially when trying to earn money by selling products and/or
Accounting Software is an application that ideally consolidates all the processes associated with day to day managing of a MSME (micro, small or medium enterprise), and manages all financial data in one place. A software solution like Neoxcel Books automates a lot of calculations and procedures related to core financial activity and administration, while giving a framework to the revenue calculations. This enables the business to manage all finances in-house without having to outsource and thereby reducing Costs as well.
Insight into Cash Flow:
A critical need for a business is stable cash flow. It is
also the reason most businesses fail because they are unable to maintain enough
cash flow to sustain themselves. While one of the reasons for irregular cash
flow could be a bad economy, more often than not it is lack of planning or
organised accounting process. That is where Neoxcel Books steps
in and saves the day by giving crucial insight into cash flow and payment
processes to help manage it better. It also does all calculations for you automatically,
helping eliminate errors.
Digitization of Accounts also makes it easy to create and send Invoices & Bills to customers via email or direct messaging online. There is also the added advantage of them being able to make payments online as well which can then be tracked in real-time. There is a huge time & productivity saving that happens when using an Accounting Software like Neoxcel Books on account of no paperwork & filing that needs to be done, apart from the absence of manual calculations. Our software also allows for integration of payment channels for seamless coverage.
The ability to access your data anytime and anywhere with just a simple internet connection makes Cloud-based Accounting one of the most favored options for a lot of MSMEs. This SaaS (Software as a Service) module offers the flexibility of not having to depend on any specific computer or device to access your financial data and thus improves its efficiency multi-fold. The convenience of opening any device in any part of the world to take a look and manage your accounts is what makes Neoxcel Books such a perfect solution for businesses in today’s Digital World.
Note : If that hasn’t encouraged you to try our software yet, please get in touch with us and give us an opportunity to convince you otherwise.