Nov 26

Bookkeeping accounting software

Yer Ant has a decade long experience in using accounting softwares, such as UBS (now Sage), MYOB, DacEasy, Peachtree (to name a few more well-known piece of softwares in Malaysia), to perform bookkeeping task for clients. We have also experience in implementing modular based ERP system where it integrates the functions of purchasing, warehousing, production together with cost management and financial reporting function. For SME and below, standalone accounting software is sufficient for their day-to-day transactions capturing and monthly and annual financial reporting purposes.

All accounting softwares nowadays are created to cater for bookkeeping and simple financial reporting functions. They help bookkeepers to recording of all financial transactions of a business, organising and tracking receipts, purchases and expenses, record transaction in chronological fashion in journals, postings to general, debtors’ and creditors’ ledgers, generating monthly and annual financial statements. Most accounting softwares have spreadsheet (such as Excel) integration for export the numbers into the latter for ease of data construction/manipulation. Exported data can then be presented in the form required by the users; for example, use of recorded data for preparation of accounting schedules, for cost and budgeting analysis, and even for forecasting purpose.

Whilst most accounting softwares now have the capability to “drill-in” for more detailed information pertaining to any transactions captured during the data entry process. As described in the paragraph above, they can then be exported and used for costing and budgeting analysis. Business owners can make the data albeit with the help of the bookkeepers to analysis the business health, profitability, cost efficiency and pricing structures.

Yer Ant also provides financial advisory and analysis services for business owners who like to “drill down” and know more about his/her business’s financial health and profitability using the readily available bookkeeping data for analysis and examination purpose.

Nov 22

definition of bookkeeping

“…definition from www.bookkeeping.net..”

To understand the importance of bookkeeping in business finance, it is good to take a look at its definition and provide some background information on the matter. Many company owners and self employed entrepreneurs avoid things like debits and credits or journal entries like the plague. But this attitude only ends up costing them money in the long run, meaning they have to work even harder to keep up simply because they’re robbing themselves of cash flow that could be gained with greater efficiency.

Bookkeeping is something no company ought to ignore. As a matter of fact, it’s an area that can’t be ignored for too long without major financial repercussions. To get a sense of why this is so, we need to look at what it means to keep the books and how this works impacts the operations of a company.

A simple bookkeeping definition might go something like this: bookkeeping is the recording of the financial transactions of a business. In accounting terms, it is the very first step in the whole bookkeeping process. If this step is not attended to, things like paying taxes can become a real challenge. When bookkeeping is done well, the accountants have the ability to perform reporting, classifying, and analyzing a company’s financial data as well as these other tax related activities. Without accurate and detailed bookkeeping efforts, it is hard to know what kind of financial shape a business is in. Owners can’t really devise long term plans or set goals without a sense of the direction things are going financially. So, accurate bookkeeping is essential to a company.
Bookkeepers have many responsibilities, some of which may vary depending on the situation. In some cases, paid bookkeeping professional do only some of this work and give the owner the raw data needed to do the remainder of the bookkeeping. In any case, their job typically consists of organizing and tracking receipts and making sure expenses are properly noted as soon as purchases are made. Bookkeeping involves tracking canceled checks and other records that are created as a result of transactions by the company. They record transactions in a chronological fashion, whether cash disbursements or sales, and keep them all in a journal. Bookkeeping then takes these journal entries and places them into a general ledger of accounts. Often accountants take over from there and use these account records to prepare monthly statements for the company.

» Newer posts