Managing your company’s finances can be challenging, so accounting software is essential for tracking money flow in and out of your accounts business. Depending on the specific program, accounting software can simplify tasks such as invoicing customers, recording payments, and managing overdue receivables.
However, the sophistication of the software can vary by vendor. Some systems provide basic functionality for tracking financial inflows and outflows, while others offer advanced tools like automated data transfers, bank feed reconciliation, and recurring invoicing.
What Is Accounting Software?
Accounting software is a tool that helps you track your business finances. It allows you to record transactions, generate reports, manage customer and vendor contacts, create purchase orders, track stock levels, bill customers, and monitor account balances.
Learn More: Understand the Power of Accounting Software For Your Business
Why Use Accounting Software?
Using accounting software can save your company time and prevent errors. Instead of manually inputting data from spreadsheet to spreadsheet, all your transaction information is consolidated in one place. This lets you easily track expenses and income and quickly access information.
The software can generate various reports and financial statements, such as profit and loss statements and balance sheets, which are essential for seeking funding from investors. You can also compare transaction activity or statements from prior months and years to the current ones to analyse your business’s growth and sales trends, aiding in informed decision-making.
With the software, you can categorise expenses, schedule and pay bills, and manage cash flow efficiently, regardless of payment method. Additionally, you can record cash or check payments and create and send invoices and past-due notifications.
Accounting software automates many repetitive tasks, improving data accuracy and bookkeeping efficiency. Using cloud accounting software, you can manage your finances from anywhere with an internet connection.
Benefits of Unlimited Users in Accounting Software
Many are now aware of accounting software’s benefits for business rather than the prospect of multiple users. Understandably, they would be wary of who is using the software and who is handling the data within.
However, having multiple accounting software users can benefit a company in the long run. It can also be helpful for companies that involve different teams in tasks such as data entry, approval, and reconciliation.
1. Cost Effective
Software providers like Info-Tech offer unlimited users at no extra cost. Businesses often require multiple users’ access to their accounting software, each responsible for different tasks. With the option for unlimited users at no extra cost, companies can easily accommodate these additional users. This feature becomes even more cost-effective as the business expands and the number of users increases.
2. Scalability
Info-Tech’s web-based, multi-user software simplifies supervision across multiple accounts, enabling accounting supervisors to access accounting data effortlessly. This streamlines review and workload tracking and also simplifies the process of assigning or reassigning rights. Additionally, the feature supports scalability, eliminating worries about additional user costs as the company expands.
3. Easier Financial Management
Info-Tech’s unlimited users feature significantly enhances SMEs’ operational efficiency by enabling many users—including accountants, finance departments, suppliers, and business owners—to collaborate seamlessly within a single, unified platform. By offering the capability to assign varied access permissions, Info-Tech ensures that sensitive data remains accessible only to those with authorisation, safeguarding critical information while maintaining a centralised system for financial management.
Info-Tech’s Accounting Software
The cloud accounting software market is highly saturated. Finding one that works for an accounting firm like yours can be daunting. Besides providing unlimited user access for no extra cost, Info-Tech’s e-invoicing compliant cloud accounting software impresses with its essential features, including bank reconciliation, sales analysis, inventory tracking, customisable invoices, payroll integration, and much more, all presented in a clean and intuitive interface. Its user-friendly mobile app lets you access all the accounting features.
Empower Your Business With Our Accounting Software for Unlimited Users
For more information on Info-Tech Cloud Accounting software, contact us at +603 6050 0333 or at [email protected].