Saturday, February 13, 2010

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SAP Business One: Integrating Businesses

SAP Business One: Integrating Businesses   by Alice Shown


in Finance / Accounting    (submitted 2010-02-12)




An increase in competition is forcing companies to optimize their business processes, reduce operational costs and enhance customer base. All companies, whether small or medium sized, must fulfill changing customer requirements and attain the most favorable return on investment. The best way to achieve this is to buy and implement SAP Business One application software.

Why Opt for SAP Business One?

There is a variety of software business solutions in the market that offer diverse and customizable modules to integrate all business functions. A SAP Business One application comprises modules for performing various activities, such as customer relationship management, operations, finance, inventory and sales.

Developed by SAP, the fourth largest software company worldwide, this software allows companies to attain enhanced control over their business.

Small companies cannot afford to maintain a core information technology department to develop their own software. So, it is best to buy the affordable software and integrate the everyday business activities. Companies do not have to go through a series of installations integrating multiple modules. It is single integrated business management software that fulfills all business needs.

Benefits of SAP Business One

SAP Business One is a user friendly application that can be easily deployed across the organization. The best feature of this software is its country-specific localization, which enables employees to use it without any training. Being highly flexible, it adapts to various business applications easily and features effective upgrade process. As all business activities can be recorded at a centralized virtual location, there is no redundancy of data entries and costs. All business operations can be streamlined end-to-end.

People at various levels in different departments can retrieve up-to-date information instantly. This speeds up decision making and enables faster response to client queries.

The software features more than 550 add-on solutions to cater to various business needs. This enables companies to obtain tailor-made solutions for their businesses. It increases operational efficiency by allowing business partners, subsidiaries and headquarters to easily integrate into the updated environment. This harmonizes business processes and promotes easy flow of information.

It operates on Microsoft Windows and allows you to replace data with other applications on Windows desktop. Being facilitated with new XL Reporter tool, it enables small businesses to access critical data. Companies can also leverage on its CRM and e-commerce functionality to open online stores.

Sapphire offers its clients affordable and highly advanced business applications. To know more about their products, visit http://www.sapphiresystems.us.com/.

Financial Software Standards and Modules

Financial Software Standards and Modules   by Alice Shown


in Finance / Accounting    (submitted 2010-02-12)




Are you looking for financial software to record your daily accounting activities? Different companies have diverse accounting requirements that call for sophisticated software to incorporate these requirements. The financial accounting software has separate sections, popularly called modules, to handle specific areas in finance.

Financial Software Modules

Financial software typically comprises the following core modules:

Accounts payable: This module records the paid and outstanding bills. It also keeps track of other expenses.
Accounts receivable: All money received is entered into this module.
Ledger: All journal financial transactions are entered here.
Billing: It is used to produce invoices.
Inventory: This section keeps track of stock.
Purchase order: This section is used to order stock
Sales order: All customer orders for stock are recorded here.

Financial accounting software also features various non-core modules, such as electronic payment processing, payroll, timesheet, purchase requisition, expense, debt collection and reports.

Financial Software Standards: What is IFRS?

In 1973, International Accounting Standards Committee (IASC) was formed to standardize various country-specific accounting activities. Continued innovation and improvement in these standards resulted in the formation of International Financial Reporting Standards (IFRS). IFRSs were introduced in 2006 by The International Standards Board (IASB). IFRSs ensure the preparation and presentation of financial statements in compliance with the set standards and framework. As of 2009, over 100 countries have authorized the use of IFRSs. Major technology-oriented countries, such as Canada, the US, Japan and India, are also on the road to conversion to IFRSs.

Financial Software Standards: Implications of IFRS

It is a challenge to implement IFRS in everyday business accounting activities. This is because the conversion involves several technical issues and requires thorough business planning. Companies may be concerned about the impact of IFRS on reported performance measures. They may also have queries about additional data to be collected and the ability of the systems to capture that data. These prepare companies to decide their conversion to IFRS.

Sapphire helps its global clients attain IFRS compliancy and recommends software solutions to clients as per their business requirements. The company's professional knowledge and solutions are designed to improve the corporate visibility of clients. So, visit http://www.sapphiresystems.us.com/ today and convert to IFRS conveniently.

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Wordpress and Automatic Blogging: Wordpress and Automatic Blogging   by Karthick in Web 2.0 / Blogs    (submitted 20.. *

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Choosing the Best Accounting Software

Choosing the Best Accounting Software   by Alice Shown


in Finance / Accounting    (submitted 2010-02-12)




Purchasing accounting software is a crucial decision as it involves considerable investment. The software should be able to handle all financial transactions of your company and also incorporate upgrades in the system.

Accounting Software: Define


Application software that is used to keep a record of the various financial tasks of your business is accounting software. This software comprises several modules that record diverse financial transactions and other related information. Some modules include payroll, accounts receivable, accounts payable and trial balance. The cost and level of complexity of software may vary considerably.

Tips on Choosing Accounting Software

With the vast number of application software developers in the market, it is almost difficult to find software that suits one's business requirements. There are a number of factors to consider before buying software for maintaining accounts. The factors include:

Graphics: The software should have the ability to incorporate graphical figures. Accountants must be able to make bar graphs and pie charts for data evaluation. Such diagrams convey trends more effectively than numbers.

Automation: Now-a-days, companies are required to manage enormous complex financial activities regarding payrolls, employee expenses, departmental budgets and purchase requisition. This calls for software that provides full automation, apart from standard financial management tasks.

Internet connectivity: The software must be able to send and receive documents online. Also, you should be able to transfer funds electronically.

Customization: It is rare for software to fulfill all your business requirements. However, ensure that the software is able to incorporate your needs in terms of forms, screens, statements and reports.

Interoperability: The ability of the software to interoperate with other company software must be an important factor to consider. The software should be able to draw information as and when required from other software. For instance, the finance department must be able to retrieve and use the information entered by the sales or HR department.

Security: A company's financial data
is handled by it's accounting software. So, if it is not secure, companies not only lose money and time, but also their sales and profit data.

Multilingual and Multicurrency: Companies today operate on an international level with customers spread across the world. Multilingual and multicurrency features add to a company's goodwill and keep the customers happy. The multicultural corporate environments of today can also benefit from this software.

Being one of the top providers of Infor FMS SunSystems, http://www.sapphiresystems.us.com/ offers state-of-the-art accounting software that suits a variety of business needs.

Why Its Best to Outsource Small Business Bookkeeping?

Why Its Best to Outsource Small Business Bookkeeping?   by Loretta Valero-Smith


in Finance / Accounting    (submitted 2010-02-12)



Running a small business is loaded with all manner of complexities. There are many tasks and duties that need to be taken care of in order for the business to run in a smooth and efficient manner. One area of extreme consideration is that of the bookkeeping for the business. When bookkeeping is in proper order, a great many problems can be circumvented and avoided. Conversely, poor bookkeeping can lead to a host of problems. That is why outsourcing a small business' bookkeeping to a reliable service is certainly beneficial. Finding the right bookkeeping service can certainly yield the desired effect of the business books always remaining balanced and accurate.
Of course, there is also another huge benefit to seeking to outsource bookkeeping services. The cost of hiring someone to perform all the bookkeeping in-house can be significant. Since most small businesses have to operate on a tight budget, it is not always possible to maintain the salary of a full-time bookkeeping professional. When the small business opts to work with an outsourcing service, the costs are significantly diminished. This is clearly why these bookkeeping services are so popular. They deliver on the professional services they promise while doing so at a rather fair price. Outsourcing is popular in many fields for the same reason: it allows small businesses to become more solvent than they would if they needed to constantly handle things in house.
It is advisable to stick with those bookkeeping services that have clearly established themselves in the field. Established companies will often a safe bet since they are handling a lot of business from a variety of companies. That means they are obviously professional in their service since they would not rise in popularity if their bookkeeping service was less than desirable.
A professional bookkeeping service also can be extremely efficient in terms of the speed it can employ to deliver the work requested. The service will have all the modern software and materials needed to perform the tasks required. This not only reduces costs but it also reduces processing time. As a result, a small business can experience extremely reliable and expedient service that is performed with a high level of accuracy. Honestly, you could not ask for much more than that in a service provider.
When a small business hires such an outsource service, it is best to be as highly detailed with the company as possible in terms of letting them know exactly what the business will need. This will greatly reduce problems associated with lack of clarity or potential confusion. Yes, the bookkeeping services can prove extremely helpful but the small business will have to handle its end of the equation as well.

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