Four reasons to streamline your financial reports with Netiquette Software

Growing a business can be challenging and the prime goal of every business owner is to keep the business profitable. Accounting management is one of the most crucial parts of every business which includes strategic planning for the organization, direction, financial processes, and so forth. In addition, accounting software enables efficient and fast processing of financial transactions. 

• Bank reconciliation 
• Saves time 
• Manage on the go 
• Data security

Bank reconciliation 

You are able to view bank receive and payment records for your business transactions in Netiquette Accounting Management System. There are two formats available when viewing the bank statement which are in HTML and PDF file. While you are doing this, it reduces human error as any slight difference in the numbering will mess up the whole financial report. You are also able to view unmarked bank records for outstanding bank statements and mark bank records upon receipt of actual bank statements. 

Saves time

By selecting accounting software that suits your company’s needs, the system itself could save up a lot of time compared to manual bookkeeping. It also improves accuracy due to the reduction of human error and improves collaboration between departments through the centralized database. The software also compromises to cater for multi-currency hence, you could easily set your own preference based on the contact of the customer or supplier with different currencies. Other than the usual standard financial reports, Netiquette Accounting system also provides a feature called the Seamless Filing which integrates with IRAS and ACRA, allowing you to file your statutory reports in xbrl format and income tax return (form c-s). 

Manage on the go 

The cloud-based accounting software can be accessed from anywhere whether it is from a PC, tablet, or mobile phone. It is because the information data of your business is stored online. Thus, users will be able to file an invoice, manage all their statutory reports as usual with real-time data updates as long as there is an internet connection. This is highly recommended as in current situations where people do not only work at the office but also from home, etc. 

Data security 

Every user will have their own unique user ID and password. The accounting manager or upper management will be able to track audit trail modifications made as well as the login history of the users. Thus, if there were any mistakes, records needed for other purposes or tracking issues among the internal organization, it enables management to continuously monitor the financial records of the business and resolve issues early. 

 

What are the main features of accounting software? 

Invoicing and billing- allows you to create and send invoices  to customers on payments 

Standard reports – general ledger allows you to view the entire transactional history of our accounts, trial balance allows you to filter different batches of accounts

Audit trail- this feature allows you to keep track of the before and after transactions, based on the time and user who make the amendment 

Seamless Filing- allows you to submit annual returns for ACRA, financial statements in Simplified XBRL format for ACRA, and income tax return in FORM C-S for IRAS 

Accounting software enables businesses to manage financial procedures and perform financial tasks quickly. Therefore, it helps the organization to have a better vision of their financial health in order to make wiser decisions in the long run. 

Netiquette Accounting Management System is also listed as one of the best accounting software available in Singapore! Contact us now for more information.