The Key Features of the Bookkeeping Software System

Any organization regardless of its size needs to provide an accounting of its finance operations. To do that manually becomes more difficult from day to day as computers and IT technology entered into our lives and are everywhere used not only by individuals of every age in the private porpuses but in almost all business dealings. Therefore, small businesses despite the fact that they operate with fewer data and conduct much less financial transactions than large companies use accounting and bookkeeping software to organize their business transactions, to keep accounts up-to-date, and to make smart business decisions based on the received reports.

Certainly, needs and requirements to accounting software systems of the small businesses and large companies greatly differ. Consequently, software providers design and develop bookkeeping software systems for small companies and accounting software systems for big organizations.

Any small business owner that does not want to spend much time every day on bookkeeping should use bookkeeping software that gives a better, faster, and smarter way to reach the top of bookkeeping. Different bookkeeping software systems provide different features. To choose one of them that will the best meet your business needs and requirements, you need to do some research. How to find the best small business bookkeeping software, we will talk in another article. Now, we give a list of the features of the bookkeeping (accounting) software that can help to run your business better.

The most helpful features of the bookkeeping software solution:

  • Customize invoicing – allows sending invoices as soon as jobs are done and getting paid for works your company does. 
  • Automate banking – allows getting real-time updates on the cash flow and monitoring financial transactions by connecting to the bank accounts.
  • Payment reminding – allows setting up the automatic reminders to customers with overdue invoices. 
  • Inventory tracking – allows managing the flow of products and goods in and out of the company and getting the real-time stock valuations. 
  • Instantly reporting – allows getting customized reports anytime they are needed. 
  • Mobile app – allows staying connected to and running the business anytime from anywhere. 
  • Payroll – allows tracking employees working hours and automatically payroll filing and tax calculation. 
  • Paying bills – allows scheduling bill payments, receiving and storing bills electronically, and knowing where the business is spending money. 
  • Tax rates – allows automatically calculating the sales and other tax rates the business needs. 
  • Purchase order – allows simplifying the purchase order process and maintaining the control. 
  • Contacts list – allows getting extracted lists of contacts based on the needs and reducing the data entry.
Main features of the small business bookkeeping software