Accounting software systems should be able to do your invoicing for
you, as well as keep track of what your debtors owe you, what payments
they’ve made etc. Here are some important features to look out for when
comparing different accounting software packages for your business.
Features for receiving payment
Invoice processing
Automatic invoicing
Processing of payments
Most accounting software systems offer electronic payment options so
that customers can pay their accounts directly, instead of making bank
deposits, sending cheques etc. This offers great safety and security
benefits and quicker processing times. There are additional costs
involved however for features like these, similar to credit card
processing companies.
In order for your business to run
successfully, it is important to know what you owe your suppliers or
service providers. Accounting software will be able to help you with the
following features:
Purchase orders
Scheduling of payments
Banking
Accounting software is usually linked to your bank account, making
direct payments and data importing from your bank into your accounting
system easily. Some accounting software systems have some great
additional features such as:
Reconciliation of accounts
Preparation of bank deposits
Handling of cheques
Inventory
Through stock and inventory features the day to day running of your
business can be streamlined, assisting you in determining which items
are in stock and which items need to be re-ordered.
Inventory tracking
Set inventory levels
Include item images