Can the small Indian business owners on-the-go benefit from online accounting software? Well, it is all essential for owners to separate and record personal and business expenses. Regularly updating their books of accounts is their obligation and statutory responsibility.
The timely accounting of business expenses tells owners how much money is leaving and entering their company. Whether the costs were necessary to meet the vital needs of their business?
Online accounting software like One Accounting software assists them in keeping track of their accounts payable and accounts receivable. It gives them unrestricted 24X7 access to their business’ financial data and assists them in managing it smoothly from anywhere.
One Accounting software for small businesses assists owners in the automation of their accounting system and reduce the manual tasks to a minimum. It promotes reuse of their captured financial data while generating various financial statements & management reports.
All in all, the implementation of this software leads to the streamlining and optimisation of day-to-day accounting functions. It reduces common accounting mistakes that one commonly associates with the paper & pen accounting.
Customise Your Invoices
A small business owner has to be wary of unpaid bills. And to get paid on time, you have to raise and send your invoice promptly. It is a general belief that if you send the invoice after 30 days, you have the least chance of getting paid.
The unpaid bills can ruin your cash flow. One Accounting Software assists you in customizing your invoices to enhance your branding. The software comes with professionally designed invoice templates. You can customise one by adding the company name, logo, or trademark.
You can access your accounting software in India from anywhere to raise an invoice. You can be travelling between customers and can still send it instantly by emailing it to the customer you last met.
Ease of Use
One Accounting software was developed to meet small business owner’s requirements. It presents you with a dashboard that presents you with charts. These charts help you in tracking your business’ Cash In/ Out, payables and receivables, and user activity.
The charts are based on real-life data. They allow you to get a sense of what is happening in your business. With it, it is easy to spot the activities of other authorised users, business expenses and income, and customer debts and liabilities of your business.
Ageing Accounts Payable and Receivable Report
Late payments can easily disturb your cash flow. This online accounting software in India allows you to track overdue payments. You can even prepare an ageing accounts payable and receivable report and send payment reminder emails to your customers.
The financial statements like profit and loss, cash flow, trial balance, and balance sheet assist owners in tracking the financial health of their businesses. These reports are also essential when you table your accounts to your Annual General Meeting and while submitting your annual report to the regulating authorities.
Preparing these reports, manually, is a taxing task. With accounting software, you can automate the process and save time and resources.
Implementing online accounting software for your small businesses in India gives you real-time access to your financial and inventory data. Instant access to such valuable data is important in making business decisions. It means you are making your promises on the strength of facts and not on the guesswork.