ABOS ACCOUNTING

ABOS ACCOUNTING

A single solution for the entire accounts operations of business enterprises. The ERP can manage all accounting operations, providing flexibility and utility to both small to large sized enterprises. The accounts ERP replace all accounts based software and it performs several business activities like billing, sales order, purchase order, general ledger, timesheet, expense, and electronic payment etc.Objectives of accounting in any business are; systematically record transactions, sort and analyzing them, prepare financial statements, assessing financial position, and aid in decision making with financial data and information about the business.The main object of Accounting is to ascertain the results of the financial transactions of a business concern.

Every individual or a business concern is interested to know the results of financial transactions and their results are ascertained through the accounting process.A businessman can ascertain the operating results and financial position of his business at any time through Accounting.

Accounting Highlights

FORECAST REVENUES

Business owners who pay attention to their accounting are informed and better able to forecast revenues for their company. Revenue forecasts help you understand whether current marketing efforts are working or whether changes need to be made. If you can't forecast revenues for your company, you won't know whether it is safe to make business-related expenditures.

MAJOR BUSINESS PURCHASE DECISIONS

Speaking of expenditures, accurate accounting helps business owners consider the ramifications of making major business purchasing decisions. From a new building lease to company vehicles, major expenditures can have a significant impact on monthly cash flow. When you monitor your company's accounting on a regular basis, you can make an informed decision on purchasing new assets for your company.

TRACK BUSINESS EXPENSES

Accounting helps you to track your business expenses. Whether you are attending industry conferences or fueling your vehicle to make sales calls, monitoring your business expenses is an essential part of owning a company. Little expenses can add up over time; a wise business owner tracks these expenditures on a daily basis via their accounting software. It’s a good practice to snap a picture of every receipt you receive and send it directly to your accounting software.

PERSONNEL DECISIONS

Accurate accounting records can also help you make personnel decisions. Knowing when to bring on additional staff, or when to lay off employees, can mean the difference between having a profitable year and being in the red or not. When you understand how much your business is spending on payroll (including payroll taxes), you are better prepared to make growth decisions for your company.

MONITOR BUSINESS GROWTH

The ability to monitor business growth is one of the top benefits of detailed business accounting. When you know your assets, liabilities, and on-hand revenues, you can easily track the growth of your company. You'll know whether sales targets are being met, whether your social media and content marketing strategies are working, and whether your accounts receivable and accounts payable obligations are being met.

CREATE/CONTROL BUDGETS

Accounting helps business owners create and control company budgets. When you know how your money is coming in and going out, you are better prepared to monitor business budgets. A company without budgets is like a ship drifting at sea without a captain; accounting helps ensure your business isn't heading for a Titanic-style iceberg.