Top Accounting Softwares To Choose From In 2017

TOP Accounting Softwares to Choose From in 2017A Quick Guide to Entrepreneurs who value Financial Data.

Contents

• What can you do with an Accounting Software?

• What you cannot do with an accounting software?

• Desktop/Local Vs Cloud Based accounting softwares

• TOP 5 Accounting Softwares in 2017

• About Relativity

• Conclusion

What can you do with an Accounting Software?

✓Invoicing

✓General Ledger Management

✓Basic Tax Management

✓Track Account Receivables

✓Track Income, Expenses, Asset, Liabilities

✓Reporting of Profit & Loss, Balance Sheet

✓Reconciliation

✓Document management

✓Purchase Orders

✓Budgeting

✓Automated Bank integration to read transactions (not payment processing)

✓Support Multiple Currencies*

✓Integrate with other apps*

✓Payroll*

✓Inventory Management*

✓Customer/Vendor Portals*

*- Denotes not a part of basic accounting feature. May be required to be purchase separately or supported only by a few.

What you cannot do with an Accounting Software?

✓Track Un-necessary / Excess Expenses

✓Loss Making Customers

✓Loss Making Products

✓Break-even point for a month or quarter

✓Profitability Analysis

✓Cash Flow Analysis

✓Cash Flow Optimization

✓Bill Payment

✓Track Employee Loans / Advances

✓Customer Credit Management

✓Credit Control

✓Audits & Assurance Activities

✓Financial Advisory

✓Tax Planning / Optimization

✓Tax Filing – Service Tax Returns, TDS Returns, Income Tax or VAT Returns

✓Employee Tax Declarations

✓Form 16 issuance

Most of the above Services are offered by Relativity’s Accounting & Taxation Team. We work to ensure Financial Data is transformed into Insights & Actions.

Desktop/Local Vs Cloud Based accounting softwares

▪ Desktop Based :

▪ Client Server concept, hence most suitable for Large Organizations

▪ Capital Investment in some cases

▪ Legacy softwares still run as Desktop softwares

▪ High Level of Customization

▪ In some cases, Data remains inhouse Or hosted on your servers

These are the views/opinions of the Author & is not a recommendation. Reader’s Discretion Advised.

▪ Cloud Based :

▪ Anywhere, Anytime Access – On the Go

▪ Simple & Easy to manage, no specific IT hardware / software required

▪ Cost effective, More as operational cost & not as capital cost

▪ Suitable for Small & Medium businesses

▪ Software upgradation / improvements happen automatically

▪ Backups are automatic, hence better data access capability

TOP 5 Cloud Accounting Softwares to choose, In 2017

#1● Stays ahead in the accounting

software race with its easy invoicing

and integration with online banking

and payroll

● Offers a real-time insight of all your

business indicators and business

reports.

TOP 5 Cloud Accounting Softwares to choose, In 2017

#2● Automates business workflows and is

customizable, just how small

businesses crave

● Is GST compliant, the much needed

feature of the hour and is also scalable

TOP 5 Cloud Accounting Softwares to choose, In 2017

#3● Serving SMB’s for more than a

decade, boasts of being user-friendly,

simple and time-efficient

● Aids in making quick and effective

business decisions with accurate

critical business data

TOP 5 Cloud Accounting Softwares to choose, In 2017

#4● Designed with a simple interface, this

powerful financial accounting software

is exactly the one for business owners

with minimal accounting knowledge

● Helps to track entire inventory lifecycle

from purchase to sales at ease and

also maintains positive cash flow

TOP 5 Cloud Accounting Softwares to choose, In 2017

#5

Reach Accountant

● Real-time consolidation in mobile app

thereby offering day end reporting via

sms or email

● Allows to track orders and send

quotes, also captures leads directly

from emails and website

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About RelativityWe make your Accounting Data speak.

Data into Insights into Action.

3x your growth. Triple your success by making better & informed financial decisions. Relativity’s Finance, Accounting & Payroll outsourcing solutions will help you focus on the essentials.

Visit us at www.relativity.co.in or

Contact [email protected] | 093611-41436