Tag Archives: accounting

Review on Tally ERP Software

Review on Tally ERP Software

Tally is well known product for accounting software. But when it comes in ERP there are few pros and cons, which you must know. After an effective application of Tally 9, there were still a few problems that were experienced. User conflicts due to multi-users of the system were thought to be permanent.

The major disadvantage of Tally ERP is- it starts from accounting whereas business starts from sales. Even tally has faced so many problems to launch Tally ERP. They want to give same flexibility in their ERP like Tally accounting software, because Tally existing customers have the same expectations.

TDS calculation has become simpler in Tally ERP it can be done with great ease. The overall data for the same is generated in the software system, and updates the bank account and is included in the report generation. This single feature makes ERP extremely good. The installation process of Tally ERP has been made easy as compared to other ERPs available in the market. Once installed it lets tones of information accessible throughout the day. It also provides incremental implementation which allows many functions to be run at the same time from even different locations. The problem with the EVAT computations with the vast collection of files into a quick and easy step preparation is possible without any ignore. Payment of water, electricity, telephone bills and other bills from any location and generating business report or stock status is made easier.

Moreover, this software enables powerful remote capabilities that enhance collaboration. It has enabled finding qualified personnel. Customization in this software is easy and faster. Great support, good brand, faster implementation and Tally integrator has made the software reduce cost of ownership, hence better equipped to be used in businesses. It is highly recommended a trail for any business needs. Also for those who want to experience the most easy and convenient way of keeping the business data on complete cycle, all key reports, cash, receivable, and month end bank reconciliation, from human resources information to each performance report, all is traceable in fast effective step. Forecasting and predicting future business performance is also possible.

Tally ERP is good to buy for small and medium size organization. But if your organization is based on process manufacturing, discrete manufacturing or any other process which Tally may not support, you should think twice before buying it. Take proper consultation before finalizing ERP for your organization.

Read about Tally ERP Software Review and other useful information on enterprise solutions. Also know Aplicor ERP Software Review and how it can help the efficiency of your organization. Know what are the Roles and Responsibilities of ERP Consultants?

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Point of Sale Software – For Speedier and Smoother Retail Transactions

Point of Sale Software – For Speedier and Smoother Retail Transactions

Point of sale is the place where a transaction takes place. A retail point of sales system usually includes a computer, monitor, cash drawer, receipt printer, customer display and barcode scanner. Point of sale software is used to calculate sales and operate the cash drawer. It sums up the sales total, figures the official sales tax, calculates the change back from the amount tendered and automatically adjusts the store inventory levels to debit the amount of inventory sold.

The POS software is also programmed to handle functions such as pre-planned promotional sales, manufacturer coupon validation, foreign handling and multiple payment types. They are certainly cruicial for large department stores that handle hundreds of customers everyday. However, their importance cannot be undermined even for small retails as they help to streamline the daily transactions and make it simple for the business owners to keep a regular tab on their revenues. By extracting the up-to-date data from a POS software, the calculation of profits is made simpler and precise.

ERP software, Accounting software and Distribution software are also quite useful for retail stores. Along with the POS software, these additional units help to consolidate the complete business transactions and enable the retailers to record their staff salary, their inventory levels, their vendor payments and the over all maintenance of their store operations. A brief description of these software may be put as:

-ERP Software: ERP stands for Enterprise Resource Planning. The software is used to take care of important aspects of retail operations including estimation, order entry, scheduling, purchasing (from wholesalers), inventory management and maintenance of financial records.
-Accounting Software: This software records and processes accounting transaction such as accounts payable, accounts receivable, payroll and trial balance. A record of all vouchers, financial statements and the business balance sheet are controlled through accounting software.
-Distribution Software: This is an integrated software to manage order purchasing and inventory control as well as accounting, purchasing, sales and financial management.

An integrated retail software system can be customized with all or any of the products described here and help retailers in accessing crucial business information at any point of time.

Esuite is a Sydney (Australia) based company that provides business software solutions to different local and international companies. A fashion software for retail stores in garments trade, a franchise software for a restaurant or any other kind of business software can be programmed to suit your needs by esuite. You do not have to import and export data between different sections of your business activities as these are incorporated into one system. They provide totally flexible solutions to ensure that you have real time access to your business information at anytime, from anywhere!

Related Articles – Point of sale software, accounting software, payroll software,

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POS Installer

POS Installer

Point of Sale (POS) refers to cash wrap that is the point in a restaurant or a location where the transactions for the goods and services are done. The POS systems may differ and therefore it is important that you know what to consider when getting a Point of Sale installer.

You will need to consider the cost of the system that the POS installer has since many companies may offer you systems that look much the same but there is a big difference when it comes to the cost. Note that getting a cheaper POS system may also imply that it is less efficient. The cheaper system may be lacking the software that is needed to provide the functionality that will help in reducing the cost of labour as well as other expenses that you may incur on the software in the long run.

If you get a micros POS system for example, there will be both the food cost option and the stock option in the system which may make it to cost more than others. Getting an installer that does not have these features will force you to hire someone to be calculating the cost manually and then enter the details in the accounting system.

Another thing to consider when seeking a POS installer is the ease of use of the system they have. It is okay to get a great and advanced system but you have to put in mind that it is operated by employees who may not stay for a long time. A Point of Sale system that is very easy to use will not cost you a lot when it comes to training new employees how to use it.

Training sessions can be very expensive and therefore it is better if there are few members of the team that understand the system so that they can train the new members. The POS installer customize the interface for you once the system has been installed. He or she does things like adding buttons for products, cancellations, discounts as well as other mechanics.

The POS Company usually considers the business needs as well as its work flow, but it is very important for you to also consider the experience as well as knowledge of the POS installer if you want the task to be done efficiently. A lot of times the POS system will be able to work well with other systems in your company such as the accounting systems.

The POS installer should be able to test and verify that the POS system can interface very well with other systems in your company. A lot of POS systems also allow remote connections for reporting and administration. This makes it easy for you to print reports, add new products and also adjust prices or menus from office or at home as long as you have a VPN connection.

If you are looking for a reliable company that can help you get the best POS Installer for your business, then don’t hesitate to visit IT-NetLogistics today!

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Financial Accounting has its Limitations

Financial Accounting has its Limitations

Download Financial statements – Stock Photography
from © Dreamstime.com If one takes a deeper look into the different aspects of accounting, one will find that it is not free from limitations. Financial accounting gives room for alternative treatment. Basically, accountancy is based on the ‘generally accepted principles’, but one will see that there is more than one principle when it comes to the documentation of a single item. The entities permit alternative treatments for different purposes. But it has to fall within the framework of ‘generally accepted principles’ that have gained acceptance. One of the flaws of financial accounting is that it does not provide timely information. But, this cannot be considered a limitation at all, since highly useful software applications of the likes of Myob are used to produce online and concurrent accounts and the balance sheets can be made available almost immediately. Manual accounting has got a problem or shortcoming with this. The information provided by financial accounting personnel is, at best, one that has got some historical interest only. What takes place is only the post-mortem analysis of the details. In fact, all businesses require access to timely information made possible at frequent intervals. Then, the management of a company will be in a better position to plan and take corrective actions.

As everyone knows, financial accounting cannot be expected to supply information at short notice. With the introduction of computerized accounting and customised soft ware, financial accounting is made easy. It generates monthly profit & loss accounts and balance sheets, and has overcome the limitations that existed earlier. There is some influence of personal judgment happening in financial accounting domain. This so-called ‘Convention of objectivity’ is acceptable and assumes some respect in the accounting area. This is due to the fact that personal judgment is required in order to record certain events and making estimates. It is well nigh impossible to maintain accuracy in future estimates and as a result objectivity suffers. For instance, if one wants to determine the amount of depreciation that has to be charged every year the estimation done cannot be counted authoritative, but just an approximation.

Financial accounting pays no attention to non-monetary information; transactions that are non- monetary in nature. Take a few examples, the intangible things like the extent of competition faced by the company, loyalty levels and efficiency of the employees etc. are some of the important matters which are of interest to the top management. But, accounting does not take note of such matters. Thus the end user of these kinds of financial information is, in effect, deprived of some crucial information that are of a non-monetary character. But, in today’s world, good accounting software or packages with MIS and CRM will be found to be useful in overcoming this limitation, but only partly. Financial accounting, in fact, does not supply one with detailed reports of analyses. But, there is no denying the fact that it enables one to study the overall result. The important information regarding the revenue, cost and profit of each product is not got by simply relying on financial accounting.

The author is an SEO copy writer and internet marketing specialist. To know more about

accounting & bookkeeping and accounting services visit lbks.co.uk/

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38; How it Can Help Your Business

What is ERP & How it Can Help Your Business

ERP – it stands for Enterprise Resource Planning — but the problem with this definition is that it doesn’t illuminate what is possible with the system. And that’s a problem – because there are many users of ERP who don’t realize the full potential or nuances of a good ERP program. So let’s dig a little deeper.

�Ш�ШLet’s suppose there’s a business that wants to buy a good that you sell. In this typical business-to-business (B2B) transaction, the ERP program allows your organization to take the order while checking to see if there is inventory in the stock ledger. But it’s more than an order taking and inventory system. The ERP also allows for the timing and planning of payment requests. In this example, when the order is fulfilled, the system can generate a request for payment through an invoice and account for the payment via a cash receipt.

These accounting capacities are all part of the finance function within an ERP.�Ш�ШSo as you can see – there is a great amount going on within an ERP just by the sheer accounting function alone. It allows for your business to plan ahead and schedule key action in the organization without the need to have multiple Excel sheets or other various programs to keep track of various customer information and purchase data.�Ш�ШIn essence, an Enterprise Resource Planning program is managing all the areas where there is a commitment to act.

ERPs differ dramatically from their less complicated cousin, the Customer Relationship Management system. The CRMs track speculative actions such as Marketing and Sales. An ERP, on the other hand, manages all the areas where there is a commitment to act such as purchasing, distribution, manufacturing, warehousing, shipping, and accounting. When there is a promise to fulfill on the part of the customer, the ERP is the system that makes for a smooth delivery of those promises among the many actors in all but the smallest organizations (when there are only one or two people involved, they can get away with lightweight ERP systems such as QuickBooks).

As a result of an evolution without a design-in-mind, in many businesses, you will find that there are typically multiple systems to track the accounting and fulfillment functions. As you can imagine, this causes a lot of headaches – so much time is spent tracking down and pulling together lists, performing information lookup, or creating reports, that valuable time and money is lost.

In many cases, businesses hire employees to keep track of the information that can easily be stored and managed in an ERP system.�Ш�Ш

What makes an ERP system so important is precisely this: it is more efficient and it is more cost effective to track your fulfillment and accounting functions in one system. And ERPs also allow owners to plan these communications and work ahead of schedule – for example, if you have a monthly subscription program, the system can automatically handle recurring credit card charges while creating future orders to fulfill in a fully-automated fashion.�Ш�ШA quality ERP system allows for the planning of your future growth. QuickBooks,for example, works for a very small business. But the QuickBooks design breaks down when there are 15 or more employees; it’s not the right tool as you grow; — think of it as using a shovel to dig a swimming pool when you really need a bulldozer. Most any organization that has experienced significant growth has at least contemplated or captured the value offered in an ERP system.

Copyright © Marty Zigman 2011

Marty Zigman, founder of Prolecto Resources, has developed scalable eCommerce systems for companies such as Time Warner and Bank of America which processed over $1.6 billion in order revenue within 12 months. Prolecto Resources invents with Cloud based software to make business owners more profitable. For more info, visit http://blog.prolecto.com

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Myob and QuickBooks Software What makes them different

Myob and QuickBooks Software What makes them different

MYOB and QuickBooks determining the difference.

Feel Confused about whether you need MYOB or QuickBooks Software for your business? So why are we trying to compare these two? Well becuase both MYOB or Mind Your Own Business and QuickBooks are the largest accounting and bookkeeping software companies on the market. Some MYOB products are better then QuickBooks products for different reasons and it is becuase of this that makes these products have there advantages and disadvatages. Thus, a sensible method would be to study the entire scenario and then make a choice. On the other hand, the choice of accounting software should be in sync with one’s needs, requirements and budget too.

Becuase the software has been built for the same purpose and therefore will seem very similar on the surface of the software. These similarities include the following:
ØThe way you integral with the software are both different, but the core functions that are the majority of the main tasks are the same.
ØBoth the softwares are essentially proprietary properties of the software development company that has created them
ØWindows and MAC both support these two softwares, while Linux compatible version is yet to be developed
ØWheather you get MYOB or QuickBooks both will do the job by themselves. However there are still additional additions that you can make to make one better then the other. These add on equipment are used separately

The major difference between MYOB and disadvantages is that QuickBooks is better for people that understand the technical side and MYOB of the less technical people. If you wanted to use MYOB all you would have to know is just the basic’s of computer, basicly just your daily use. Where as QuickBooks is for the type of person that love technology and understands it like the back of his/her hand. There are certain buyers who feel that both the software target different markets. Fundamentally, there are certain features that differ but there is no such evidence which goes in to confirm the fact that both the softwares target different market segments.

The most important thing to remember is that both these two pieces of software, both offer efficiency and fast data retrieval, making decision making easy. While both the softwares are extremely simple to use and install, each of them have their distinct advantages.

QuickBook Advantages:
ØThere are many software options that include the following versions. These versions are good for users which include whole sellers, manufacturers, retailers, non-profit entities, contractors, professional accounting firms and professional service firms
ØAnother important part of business is knowing the different taxes in relations to where you are in the world. Thus there are many different version for this also.
ØThe On-line screens are identical to paper-based forms
ØThe standard accounting procedures can be complicated. A user does not necessarily have to be well versed with them while using QuickBooks.
Advantages for MYOB Users
ØComprehensive package of several online services like e-mail hosting, domain registration and web hosting ØUnbelieveiable range of functions like accounting bookkeeping, invoices and payrolls are avaiable. These options are available for a start up to small businesses to corporations that need multi-user software ØOther MYOB products include POS ( point of sale software) assest management and payment services.
Ø Online Management of customers, vendors and employees
Ø It has a unique function of being able to work with several currencies

Even know both piece of this software are impressive, it’s important to remember your business goals and expansions. Accounting is a large selection of a companies requirements and should be with in certain goals of the business.

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WHAT DOES ERP MEAN

WHAT DOES ERP MEAN

Enterprise Resource planning, more commonly known as ERP over the internet is not an unknown term now. It can be heard in every corporate office. Although the acronym is complex, its meaning is quite simple and is all about integrating the different software systems like management systems, data tracking into a single software system. The domain of ERP is fairly large. It includes the automation of manufacturing, accounting, sales, services, management information and customer relationship information with the help of integrated software. That is all what ERP means.

The acronym ERP was first used by Gartner Group in 1990. There was a rapid growth in the ERP systems in the 1990s because of certain issue like Y2K and introduction of Euro but the sales sank later in around 1999 after these issues had been solved.

There are many differences in enterprise resource planning softwares but their mission is very much similar: To run the enterprise, the whole of it. This software connects different areas of the company and their external resources that include their clients and partners. ERP provides integrated software for tasks such as accounting, finance, purchasing, inventory, customer relationship management etc. The system is developed into modules. The modules for each task such as finance can be either set-alone or bundled with the system. All the different modules developed are placed on one managing module. This makes the merging of various software programs together to complete an accounting task unnecessary. The ERP system will work as an all inclusive system and will provide all the software applications required to complete the tasks.

The integrated approach pays back very well if the right software is installed properly in an industry. When a customer places a order in the company, a series of paper work begin. These paper works are keyed in and keyed out at various levels in different departments. This results in greater chances of loss and misplacement. No department knows the true current status of the product because each department has its own system designed for its particular needs. There is no way for the account department to check whether the product has been shipped from the warehouse department. The answer to all these issues is ERP.

The software vendors have realized the importance of ERP for industries. There are many ERP vendors who are very much interested in knowing your needs and developing an integrated system for you. Salesforce.com, Microsoft Dynamics Group, NetSuite, Infor ERP SyteLine, Intuitive ERP, BatchMaster ERP, Oracle are among the few famous vendors

ERP may have some disadvantages like cost overhead in migration from the existing system, problem in customization and resistance in sharing information from one department to other. But if deployed properly, it would minimize human intervention during work and hence will lead to fast disposal and better accuracy.

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VB Net POS Accounting

VB Net POS Accounting

VB dot Net framework provides the best base ground for POS and Accounting software, because both systems need great support to access and process data frequently, and Visual Basic with .Net framework seems to work very well. Since VS2005, Rapid Application Development tools enable developer to create business software in the fastest time ever!

Only RAD development will guarantee the database related project to success in the shortest time and deliver the highest quality. VS2005 comes with SQL server 2005 express edition, which is free for desktop application and small business software. SQL Server 2005 plays an important row to ensure scalability of storage and software.

There are many source codes based POS and Accounting software, but only very few employed Rapid Application Development methodology and design, this brings lots of work for developer if the source code not already supporting RAD programming.

When choosing the suitable source code, one should consider to adapt to the latest tools and technology, legacy coding will only slow your overall development time! Why pay for legacy technology when you can enjoy the best out of the newest tools and coding! Cynics POS and Accounting is built on the pure dot net platform, SQL stored procedure and RAD tools such as visual inheritance and Dataset Designer.

Cynics POS even enjoy the offline benefit of dot net remoting! Your POS system will store all information locally and synchronize back to the server when connection are available. Up until now only very few software in the market can provide such a great feature, and this feature is expected to gain popularity by the introduction of Microsoft Sync Framework for ADO.Net.

Let’s summarize some of the great features that a good source code based POS and Accounting system should have:

Feature #1 – Offline Capability.
Able to work offline and not dependent on network connection to store data.

Feature #2 – Stored Procedure Processing.
Using powerful database stored procedure to speed up the processing time.

Feature #3 – RAD Design and Coding.
Use the latest Design and Coding method, code the software using RAD tools and speed up the maintenance process!

These are the 3 most important features, beware to check for these criteria before proceed… Invest your money carefully.

(C) Copyright 2008 CYNICS SOFTWARE – Feel free to reprint this article in its entirety as long as all links and author resources box in place.

Find out more information about fully RAD coding and Offline Capable source code based Software: VB Net Framework POS Accounting System.

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Ways EPOS Systems Improve Business Performance

Ways EPOS Systems Improve Business Performance

The latest advancements in EPOS technology over the last few years have transformed EPOS systems as an indispensable tool for not only to manage business processes but also help perform better in their market segments. Almost all small and middle level business entrepreneurs have realized the significance of electronic point of sales systems for boosting their sales and improving business efficiency. However, large number of business owners and manager are still unaware of several ways which can be used to increase business administration, boost business sales and improve customer satisfaction.

Following are the ways which can be utilized to improve overall business performance of an organization:-

EPOS systems integrated with accounting software offer convenience of not entering each and every sale in accounting system. Accounting package linked directly with EPOS system facilitates in entering information of all sales transaction into accounting software. Updated and latest accounting information can be gathered at any time. Significant amount of time and efforts can be saved in this way which is utilized in traditional cash registers for maintaining accounts.

Stocks can be controlled more conveniently and effectively through this latest EPOS technology. EPOS software alerts stock managers about low stock levels of all products present in stock. Re-ordering of stock products can be done automatically and most profitable and suitable suppliers can be sorted out through stock management software. Also most sold and profitable products in stock can be identified. Availability of products in inventory can be checked out with just one click of EPOS software.

Customer satisfaction is one of the most vital factors responsible for success of a business organization. EPOS systems offer an excellent medium for improving customer satisfaction and monitor customer behaviour. The latest state of the art technology used in electronic point of sales systems can be utilized for studying buying trends, customer behaviour, customer response on a particular discount scheme and consumer history, which can be utilized for seeing likes and dislikes of customers. Consumer data obtained through these systems can be used for increasing customer loyalty and satisfaction.

Such electronic point of sales systems are ideal to use for businesses with multiple retail channels and branches. All business sections can be connected together through this latest technology. Business activities going on at different locations can be monitored from one single place. Overall business and sales performance can be known and updated at any time and weak areas of business can be identified.

E-Till Solutions specializes in offering customized and most affordable pharmacy stock control Systems, Dry cleaning EPOS Systems and distribution point of sale Systems in UK.

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CRM Software and MYOB Integration – Is This Possible

CRM Software and MYOB Integration – Is This Possible

Ever thought of having a software powerful enough to integrate an MYOB into a CRM software? Businesses, especially those whose concerns involve accounting and marketing, are wanting of a system that can work both as CRM and an accounting tool to manage customer data. Figuring out which system works and which does not, or trial and error, place businesses at risk of losing customers. Why? While trying to figure out a better way, you are missing out on the most important component of your business – your customers! If you think your CRM software is not doing you any good, look no further. Find out how an MYOB and CRM integration can bring about these changes for you.

1. Businesses that have not started using CRM yet.

-These companies makes use of Microsoft Outlook, spreadsheets from Excel or an ACT for keeping track of basic contacts
– Simpler software that lacks the data sharing, workflow automation or other key features provided by CRM software.The owners of these businesses are often aware of CRM and plan to look at it but sometime in the future.

2. Companies that uses CRM but keep their financial data separately.
-These businesses are already using CRM for targeted, automated marketing as a strategy for growing revenue and new customers. However, their CRM has no information about customer purchases or payments in it. An MYOB is mostly used to keep all the accounting info.The effectiveness of marketing and targeting analysis for an automated business process is often attributed to a lack of access to up-to-date financial data.

Where are the businesses with all their customer data in the one place, accessible through a single software program? None of them are practically in the SMB space. The software just hasn’t been available.

Why? Simply because CRM and accounting software have evolved separately with different goals in mind. Here’s why.

The Software Problem

-CRM software is optimized for reporting and analysis, workflow automation, capturing both structured data (customer addresses, phone numbers, job positions, etc.) as well as unstructured data(email and other forms of correspondence, notes, comments, etc.) and two-way communication with clients and prospects.

-Accounting software is mainly designed for the purpose of managing numbers (structured data),as well as for accuracy and process.

So can they ever meet in the middle? Is there a product that one product will combine both functions?

Luckily, a solution is finally found.

Thanks to software developers who came up with such a tool such as a hosted software solution that links CRM software together with accounting and more. Designed to turn your business into an automated revenue machine, this software helps you generate more sales and profits while you invest the same or fewer hours of work each week.

Popular commercial software such as SugarCRM and MYOB are linked tightly together as an end-to-end business automation solution.

CRM software is designed to be the “control panel” for your marketing, with which you could:
-Assess data for campaign strategies.
-Execute marketing campaigns.
-Monitor campaign results both in financial and activity terms.
-Establish marketing and sales “workflow” by setting up automated response actions basing on customer inquiries and other events.

As a result, it offers the best of both worlds: the distinct features and performance of marketing – leading point products, with the breadth and thoroughness of a complete solution.

This multiple process of MYOB CRM integration is to achieve one common goal- Business Success! Secure the future of your business by opting to integrate a user friendly system which is cost effective. It can mean the difference in success or failure.

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