What are the operations that accounting software can complete

  Among the various operations that an accounting software can complete is the creation of invoices and estimates, the monitoring of expenses and payments, the management of suppliers and even the control of warehouse stocks . This type of software is also particularly suitable both for companies that have just entered the market, such as in the case of start-ups, and for SMEs that have already conquered a slice of users in their sector of reference.

 To choose the best accounting software for the needs of your company, you can resort to the help of best companies, which in addition to collecting the most popular accounting management tools also offers the possibility to compare them thanks to its internal comparator. Last, but certainly not least, factor to take into account when choosing an accounting tool for your company is its advantages.

 In this regard, allows users to select software based on some essential criteria, such as the presence of accounting services in Dubai and billing tools or the possibility of accessing a free trial. It should also be noted that there are also entirely free and open source software, which however are not in line with the laws on finance in force.

 What features must accounting software have?

 Usually the accounting management tools can count on a wide range of functions. An excellent news that, on the other hand, could put in difficulty those who try their hand at choosing the most suitable tool for their needs.

 For this reason, especially if you are a beginner, it is advisable to work closely with more experienced accountants who can help identify the features necessary for your business needs.

 Let's try to put the characteristics and some of the critical aspects to consider in choosing an accounting software black and white :

 Basic accounting tools - Before even analyzing the advanced features, you need to have a clear understanding of the basic tools that your company needs. Typically merchants choose standard arrangements such as customer management, estimates, billing, as well as tracking expenses and revenues. In the case of a shop with a wide range of items, functions such as purchase order, supplier management and inventory management may be useful.

 Mobile-friendly - Accessibility from Smartphone’s is now a standard among accounting tools. Of course, the cloud is great for allowing team members to access the tool remotely from anywhere. But, today, this is not enough to manage a company's finances efficiently. For this, the software must guarantee a mobile experience operationally similar to that of a PC.

 Data security - Financial data is unquestionably one of the most sensitive information within e-commerce: every single violation is a potential damage to the company. For this, the security features made available by the various accounting tools must be a priority. How are the saved data managed and how are they protected during transmission? What are their safety standards? What about their privacy policy? What measures do they implement to monitor their networks and prevent possible attacks? These are just some indications to understand if and how much security is central for those to whom you can entrust the most intimate information of a company.

 Forecasting functions - The most modern accounting tools have developed artificial intelligence systems in order to fully analyze the financial models and, consequently, forecast revenue and growth. These are tools so powerful as to push more and more accountants to rely on artificial intelligence. Are the predictions really accurate? The direction taken is the right one. Certainly, the choice must take into account how deep the proposed analyzes and forecasts are.

 Automation - Automation is certainly one of the main reasons for relying on compatibility tools. The best products include automatic systems for reporting, global payments, invoice management, tax compliance, supplier accounting, etc.

 Tax support - A clear picture of a company's money cannot be separated from tax monitoring. To do this, it is necessary to rely on an updated Customized ERP Software's in Dubai on the laws in force that can automatically process the required taxes. The free tools usually do not guarantee the punctuality of this function making the choice of a paid tool obligatory.

 Read also: Are you looking for Auditors in UAE

 Integration with third-party tools - E-commerce is a dynamic ecosystem where several elements intersect which is always in sync with each other. Such a fluid environment obviously needs versatile accounting tools that can integrate with a wide range of third-party tools. To be clear, the best accounting tools should be able to connect with Google apps, in addition to email marketing tools, customer relationship management, inventory management, payment processing, etc.

 Reporting - In the end, what really drives you to use an accounting tool is its ability to efficiently generate relevant financial reports. While some systems simply provide basic profit and loss reports, the best solution can only be a tool that can dig deep to offer real and in-depth reports that can photograph your financial performance in real time.

 

 

 

Corporate Finance Services in Dubai

 We are reputed  Corporate Finance Services in Dubai; offer a range of auditing company services in UAE, Sharjah UAE. Audit & Assurance is one of the core practices of our firm in Dubai. Get more information: 97142287774

Why rely on an audit service in your company?

 Auditing is the process of validating the activities carried out by an entity or a part of it, and it may even be specific to only one activity. Her main objective is to validate what was done with what was planned. Among the various types used by companies, one of the most common is the accounting audit service, whose main objectives are to prove the facts that change the assets of companies, the presentation of errors or fraud and, consequently, the suggestion of measures that can be taken to prevent them, as well as verification of the accuracy of the company's internal controls.

 It also checks for the existence of these internal controls and if they are applied correctly. Thus, accounting auditing can be understood as a technique that checks accounting records so that, with this, it can attest to their correct reliability, which means that they must reflect the equity presented.

 What is the final result of an external audit?

 The final product of the external audit is the issuance of a report, previously known as an opinion, on the adequacy of the financial statements in relation to the Accounting Principles and United Arab Emirates Accounting Standards.

 For this, it is necessary that the external or independent auditor has independence as its main characteristic. Furthermore, he cannot have any relationship with the audited company. This report will present the auditor's technical and substantiated opinion regarding the correct observance of current legislation and that this was correctly used in the preparation of the audited financial statements.

 Where does internal auditing come in?

 Auditors in UAE is defined as a set of procedures whose main objective is to examine the integrity of procedures, as well as to verify the adequacy of the internal, physical, accounting, financial or operational controls of a given company.

 The internal auditor's work is defined by the company's management, that is, the points that will be worked on are discussed or even passed on by the board so that the internal auditor can work. In addition, the nature of the work of the internal audit is more linked to the internal routine of the company's work, as this professional will observe compliance with internal rules.

 What is the difference between internal control and internal audit?

 The internal audit can be understood as a review work, in an organized way and that will be developed by a specific department. Internal control, in turn, can be understood as a set of procedures and controls adopted by a certain company.

 These controls and procedures range from the preparation and observation of an organization's plan, through methods and measures observed to compare and understand the company's results, as well as asset protection systems, such as observing certain standards for accounting for assets, the correct adequacy of the company's chart of accounts, administrative policies such as rules and functions for each employee and others specific to each type of business.

 How to optimize your audit process?

 It is necessary to understand that the internal and external audit must work together, that is, it is necessary to continuously verify internal processes, a function performed by the internal audit, which will facilitate the work of verifying the adequacy of the financial statements by the external auditor. Thus, the internal audit must observe some points. Let's go to them.

 All company procedures need to be determined and known – this is necessary for all employees to know and adequately perform the company's internal procedures and so that, as a consequence, the internal auditor can verify possible failures.

Checklist – that is, a checklist, which can be done by department, of the procedures that are required and that are actually being carried out, helping to minimize failures.

 Independence – even if the internal auditor is linked to the company's management, he/she needs to point out what is not in accordance with internal controls, that is, he/she needs to be impartial and point out the path to be followed.

 Of course, all procedures and, later, the internal auditor's findings should always be presented and discussed so that the company can know if it is on the right path or what it should do to correct its course.

 Is it worth investing in the audit?

 Both the Internal Audit and control system reviews in UAE, by issuing the audit report that certifies the reliability of the records, and the internal audit, which uses internal controls to suggest paths that can be traced, are extremely useful and necessary procedures that guarantee the veracity and use of internal rules and procedures and, consequently, the adherence and adequacy to the current legislation. Use Aaa-cas services to improve your controls and get better results.

THE ADVANTAGES FOR THE COMPANY WHEN HIRING PAYROLL MANAGEMENT

 In United Arab Emirates, labor legislation is one of the most complex and detailed things when compared to other countries. Thus, professionals working in this area must be extremely capable, detail and meticulous.

 In many companies, the HR service does not have a good structure to manage the payroll. Thus, they choose to outsource this service, seeking out companies that are experts in the subject, having a lower probability of errors, more efficient operation and reduced operating costs.

 Many companies go beyond the outsourcing of payroll management to the outsourcing of benefits management, in this way, entrepreneurs can focus on their business leaving these sectors in the hands of specialists dedicated to the segment.

             These are some advantages for the company to hire payroll management:

 1 - Decrease in errors:

 Specialists trained to do this service, that is, they have mastery of the subject, making the payroll management process agile and reducing errors normally made by people without this knowledge.

 2 – Practicality and focus in each area:

 When the company chooses to manage its payroll internally, it often runs the risk of having people performing this function who are not experts in the field. In addition to outsourcing there is a reduction in costs in hiring employees, vacations, overtime, labor obligations.

 3 – Reduction of fines:

 By hiring an outsourced company, there is a great reduction in failures when making payslips. Your company will have greater control over overtime, additional night hours. Remembering that the execution of payrolls in the wrong way can generate labor lawsuits.

 4. Time reduction

  Instead of spending time doing payroll management, the company could be more efficiently dedicating itself to its business. By outsourcing the service, the company reduces the time spent and is able to focus on what really matters.

  Ecar Pay, in addition to managing your company's payroll and benefits, guarantees its customers insurance against any errors in the process, providing even more security for your company.

  With Ecar Pay performing your company's payroll and benefits management services, you will have a reduction in operating costs, in addition to leaving you in the hands of qualified specialists to perform these services quickly and correctly.

 If you are interested in knowing if your company can reduce costs and improve Payroll services in UAE and benefits management processes, contact our team and request a visit. We take a free survey of the last 5 years of your payroll and show you how much you could have saved and improved your process.

Read also: What is business consulting, types and areas of expertise

 

Read also: 3 tips to improve your company's financial management

 

Read also: Learn about 3 advantages of payroll outsourcing

 

Step by step: learn how to use ERP software in accounting.

 

Taking care of a company's accounting is definitely not an easy task. It is necessary to consider personnel expenses, supervise contracts with suppliers and customers, deal with tax obligations, make and monitor investments, in addition to many other activities. And all of this must be done without missing deadlines, always keeping an eye on the overall financial balance.

 In the past, to account for so many details, it was necessary to manually feed and control many spreadsheets. Only in this way was it possible to deal with such a varied and numerous mass of accounting data. It was, therefore, a slow, bureaucratic and very delicate activity. However, thanks to technological advances, this reality has been changing from water to wine.

 Thanks to ERP Accounting Software solutions in UAE, it has become infinitely easier to handle all these numbers in a fluid, automated and secure way. Do you want to know how this is possible? So keep following today's post!

 Understand ERP software

 ERP: this is the acronym for Enterprise Resource Planning or, in good Portuguese, a business management system. ERP software is a program that centralizes your company's information in one place, making the real monitoring of the business a more accessible and agile task.

 For this, it is divided into modules (such as sales, inventory and  Human Resources ), which are fed in an automated or manual manner and, most importantly, are integrated into a single interface. So you can analyze the numbers of Human Resources together with the accounting and tax information of your company, for example.

 Automate your processes

 Some of the tasks in the accounting area are quite repetitive and time consuming. Launches of water, electricity and rent bills, for example, are repeated month by month. But you don't need to write them monthly, you know?

 A  good ERP software  can automate this type of release. So, without any direct human intervention, he already considers the daily expenses of his business. In addition to streamlining processes , automation also reduces the risk of  human error , avoiding its consequent losses and rework.

 Read also: Are you looking for Auditors in UAE

Control cash flow

 If you don't already know, it's time to know: cash flow is a very important metric to monitor the financial health of absolutely any company. So it is important that you monitor it in real time.

 With an ERP software, you can see the entries and exits practically immediately, still foreseeing future financial movements that are already registered. This is the case with the purchase of certain equipment or the  payment of taxes , for example.

 Track the right metrics

 Each type of business requires the monitoring of specific metrics, right? For e-commerce, for example, it is essential to find out how many visits to the online store are converting into sales. But what about your company?

 The important thing is to know that, in the business management software, you select the indicators that really matter, having easy access to them to be able to analyze each one individually or in parallel. Thus, you have the data that matters always available to make strategic decisions with the right foundation.

 Observe business evolution

 We have already spoken briefly here about the importance of the ERP system for monitoring (in real time) the accounting movements of your company. But the system is also an important repository of data about the business!

 This information can be consulted at any time so that you can compare what the company was like months ago and how it is progressing now. With that in hand, it becomes much easier to define the best way to achieve your goals for the future!

 Do you want to know more about how ERP software can help your company management? Get in touch and know our solutions!

 

WHEN IS THE RIGHT TIME TO IMPLEMENT BUSINESS INTELLIGENCE?

 The data and information that companies handle are increasingly essential to run a retail business, and one of the best tools they can use to manage it is business Customized accounting software. Due to the advancement of technology and globalization, companies need a great deal of information in order to understand their customers, detect and anticipate trends with the right products, and create successful campaigns.

 Data is critical to the success of retailers, but at the same time, it is not enough just to have it. There is surprising information in the data you collect daily in your business, but you need the right tools to extract it. The solution that has been used the most in recent years is Business Intelligence (BI).

 With a BI solution, they can transform the information they collect into an invaluable source of knowledge and, ultimately, revenue. It allows you to consolidate information from multiple data sources into a single, clear snapshot of your business. As a result, it's easier to monitor your key metrics, such as sales, performance per salesperson, or over-budget revenue. It can also help you capture data entry issues in a timely manner.

 WHEN TO IMPLEMENT A BI BUSINESS MANAGEMENT SYSTEM?

 If they have companies that collect data, they will benefit from a BI solution. So if you wonder when should you install a solution? The answer is as soon as possible, especially if you are in the implementation of a new ERP system. Far from making things more complicated, the BI system will complement the ERP implementation.

 In many cases, implementing a predefined Business Intelligence solution for your ERP system will take only a few hours or a few days at most, depending on the size of the database. If your company already uses a standard ERP solution, implementing the BI solution is faster and easier.

 Until a few years ago, BI solutions were designed for large companies and required large investments during implementation and extensive IT resources to maintain them. This is no longer the case today, as they are increasingly accessible, especially for small and medium-sized businesses, as cloud solutions offer retail companies of any size the opportunity to deploy, configure and use. the latest analysis tools without the need for special knowledge.

 Cloud-based BI is also often available at a subscription price which makes it an affordable solution for companies that cannot afford a large initial investment. Even better, free trials are often available to test and see if it is the best solution for your needs.

 To choose the version that is right for you, you must begin by analyzing your needs and your environment; the choice will depend on several factors, such as company culture, technology, and internal skill set. The most versatile that adapts to any company is SAP Business One software, the market leader in business management. If you want to implement it in your company, contact the experts at aaa - cas, where our consultants will support you with their extensive experience.

Read also: Are you looking for Auditors in UAE

WHY DOES YOUR BUSINESS NEED BUSINESS INTELLIGENCE?

 Business intelligence software is called a set of strategies for the creation of business knowledge from data analysis, that is, it is the ability to transform data into information and knowledge. This is essential, since it is not only a matter of collecting, or even analyzing the information, but of processing it, turning it into a suitable reference for decision-making.

 Properly implemented, it acts as a strategic factor generating a competitive advantage, based on the ability to acquire privileged information: entry into new markets, financial control, cost optimization, production planning, analysis of customer profiles, profitability.

 Among the fundamental characteristics of business intelligence are:

 Observation through data collection.

• Comprehension, thanks to the analysis and crossing of data.
• Prediction, given by understanding the evolution of the data that allows prospecting.
• Collaboration, through the circulation of results and cooperation between departments.
• Decision, through which knowledge is converted into actions.

 BENEFITS OF USING BUSINESS INTELLIGENCE

 There are many benefits in the implementation of this system, such as support in making decisions that are no longer taken blindly, the accessibility of information, which will now circulate in a timely manner among those responsible and interested, and better planning, benefiting among others. things for a significant time saver.

 Business Consultant in UAE, like SAP software, is translated into a set of methodologies, applications and technologies to gather purify and transform data from transactional systems and unstructured information into structured information, suitable for analysis and transformation into knowledge. BI systems and components differ from other systems, such as operational ones, in that they are optimized for acquiring and disseminating data.

 By making use of this system, they will gain competitiveness compared to other businesses, which will not only improve the performance of their companies, but will also be able to face unexpected problems and be faster in innovation.

 If you have already been convinced to implement a system, we invite you to contact phone at 97142287774 for more information and in Monterrey by email: info@aaa-cas.com . We are specialists in the ERP SAP Business One system, the best business intelligence solution for your businesses.