Top 5 APPS FOR ACCOUNTING PROFESSIONALS

In this digitally ruled world, there are various apps that have made work life simpler. Today, professionals have access to various accounting apps that assist them in their businesses. Here are some apps to help you conduct daily accounting practices with ease. What’s more, most of them are free!

QuickBooks: This app is one of the best free accounting apps and is widely used worldwide. QuickBooks is used for recording day to day transaction, invoicing to clients and billing to customers. You can also see your balance sheet reports through the app among other features.

Book Keeper Accounting: Book Keeper Accounting is simple to understand and is packed with features. The app allows you to send invoices and estimates, track expenses and receipts, and manage inventory. It also gives the option of viewing and sending various reports along with helping you maintain company books. It has a 45-days trial period after which it becomes a paid app, but it is totally worth it.

Zoho Invoice and Time Tracker: Zoho Invoice is a free app, and one of the best and the most convenient ways to remind and accept payments from clients. Quotes can be sent along with tracking time for projects, and it can even accept credit card payments or send thank you letters to clients.

Indian Accounting Standards: This app is especially designed for accounting and auditing professionals. These professionals abide by the Indian Accounting Standards that is issued by ICAI. Through this app practitioners can assess the accounting standards on the go.

Financisto: Another free app that is an open-source personal finance manager. You can manage multiple accounts and currencies through this app. The app offers automatic daily backups.

These and many more apps provide assistance in finance for non- financial professionals, and they can explore more about these apps and other topics with similar solutions through the workshops conducted by Welingkar’s Distance Education Programme.

 

Accounting Software Every Account Should Know!

Years ago, in an age where the existence of computers was still a mystery, work was done manually and accounts were religiously maintained by hand. Then, a savior called Technology arose and saved humanity! The internet has become a way of life, a thread that connects us to the world. Of course, this technology has had a powerful impact on every aspect of professional activities, accounting including. In recent years an array of software have cropped up, each of them offering financial management solutions.

What is Accounting Software?

Before purchasing accounting software, you should be able to understand what an accounting software does. In simple words, a business accounting software keeps track of the financial transactions within an organization. A package basically includes general ledger, accounts receivable, accounts payable, payroll and reporting modules. At times, these systems may come with specialized functionality for particular kinds of business/companies.

In the past couple of years a number of companies have launched various software that make an accountant’s job quite easy. Listed below are names of software that an accountant should definitely be aware about.

Sage Peachtree Accounting

Sage Peachtree accounting software has four versions since it was launched. The various versions meet the needs of a variety of businesses, including Peachtree Pro for small business. They have even developed versions for nonprofit organizations, manufacturing, construction and other industries.

ProfitBooks

This software is amazingly simple to understand and quick to use, especially for small business. Its features include banking, email integration, expense handling, HR and payroll, inventory management, invoice, multi currency, multi location, multi user login, roll based access, online document storage (back-up), payment handling, product database, production management, project management, purchase management, quotation & estimation, recurring invoice, task management, tax handling, time tracking and warehouse management.

BUSY

One of the leading software in India, BUSY is a solution for small to medium businesses. The software has more than 1,20,000 installations and some of its features include email integration, job costing, online banking integration, POS invoice and much more.

Crave Accounting Pro

One of the most used software in India; Crave Accounting Pro is handy software for accounts. This software is perfect for multiple businesses and features includes balance invoicing, inventory management and provides all the necessary features that are needed to successfully manage a company. An added bonus is that it has the power and flexibility to be the all-in-one solution for running multiple size companies.

Issues to pay attention

These software are just a few, for there are many more available in the market. But before buying any of them, there is something that you should keep in mind. Buyers belonging to certain industries should make sure the proper modules are included in the system. For example, a construction company should pick a system with a project accounting module. The other factor to be considered is the rate of growth chose software that won’t outgrow the company soon.

All things said and done, do take advantage of this technology and make your work simpler!

Must use Apps for Accounting Professionals

Ours is a digitally ruled generation comprised of our computer or laptop screens. Today, everything imaginable is a click away. Since the introduction of smartphones and Android, the world has shrunk even further. There are various apps boosting our social and professional life. We are reaping the benefits of the efforts of a few innovative minds. The field of Accounting too has received that attention and transformation. We have various apps available today that have proven to be beneficial. Here are some of the apps that an accountant should definitely be aware about and what’s more, most are free!

Accounting:
Accounting is a vast subject and understanding what exactly you need and how best to do that can be tricky. This is where the app ‘Accounting’ comes in. The app is divided into small chunks and provides quick summaries of essential concepts in accounting by delivering snack-sized chapters and flashcards. Though the app is a paid one, it is worth the money.

Zoho Invoice and Time Tracker:
Zoho Invoice is a pocket friendly app and along with being free it is the best and the most convenient way to remind and accept payments from clients. Quotes can be sent along with tracking time for projects, and it can even accept credit card payments or send thank you letters to clients.

EasyMoney:
Combining the management of activities, EasyMoney is one of the best money management apps. This app includes an expense manager, a bill reminder, a checkbook register and a budget planner is thrown in for good measure! The expense manager gives an organized and detailed view of your personal finances and money management needs. It is easy to track and manage daily expenses. All sorts of expenses, for example business expenses, travel expenses, personal expenses and more can all be managed with the help of this application. The interactive reports and graphs on the app helps you analyze income, expenses, cash flow and balance over varied data range and accounts. The biggest advantage of this application is that it is free!

Check:
An awarding winning application, Check (which was formerly known as Pageonce) keeps a track of all your bills and money for you making sure you never miss a bill or get hit with an overdraft and late fees. A free app, it is simple to use. Just set it up and off it goes to work, monitoring your bills, bank account and credit card bills, all at once! Check will alert you when bills are due or if you are low on finds, so now you will never be caught off guard again.

Expense Manager:
Expense Manager is another great application for managing your account. It manages our expenses and income by tracking expenses and income by week, month and year as well as by category. You can add multiple accounts in multiple currencies along with scheduling the payments and recurring payments. This application can be used to take pictures of receipts, budget by day, week, month or year and you can also export account activities in CSV for desktop software. Expense Manager is absolutely free and to make things better, the app offers a backup on Dropbox and SD cards.

Financial Calculators:
Financial Calculators is an amazing application for calculating, as the name suggests. The app has 13 different calculators ranging from a Time Value of Money (TVM) calculator to Currency Converter to a variety of loan calculators. It also includes a Credit Card Payoff calculator, Annual Percentage Rate (APR) calculator and a Return on Investment (ROI) calculator. Financial Calculators is a free application and only the currency convertor requires online access to work.

These are just few applications; there are many more out there that can make accounting very interesting. There is PayPal, Yendo Accounting, Xero, Shoeboxed and many more that are designed to aid you in handling accounts. So now that you know what to look for the next time you are on the App Store or Play Store!

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