What is Accounting System Software?

An accounting software is an application widely used by accountants and businessmen to organize and manage their finances in one place. Normally, accounting software comes with a myriad of features that are tailored to all business needs. It helps businesses to keep track of their accounts.  

Most of the software allows the user to create and send invoices, manage expenses, record transactions, reconcile bank, filing taxes, generate reports, and much more. Accounting software has an edge over traditional accounting process by delivering comprehensive data reports. These analysis reports are the key element to make important decisions and allow efficient forecasting. 

There are accounting platforms that offer free accounting services along with accountant consulting. They help to develop small businesses by enabling them to stay on top of their finances. Today, Many accounting platforms have adopted advanced technology like cloud computing, blockchain, and triple entry which ensure secure and reliable bookkeeping.  

What Does an Accounting System Do? 

Manages cash flow – from supplier expenses to customer income, an accounting system manages and streamlines every cash inflow and outflow. While older methods of accounting require hours of effort for manual entries, the automated accounting systems make faster entries and better organization. 

Generate finance reports – with all the input data in the system, accounting software generates efficient financial reports. It mostly comprises of profit and loss report, trial balance report etc with easily comprehensible data.  

Creates invoices  accounting systems is a godsend for invoicing in a professional way. It allows to create and send invoices to customers and suppliers instantly. With multiple customizable options, these platforms make it possible to generate invoices suitable to your business. 


Learn More

Accounting Myths and Facts

The world has lots of false impressions regarding many professions, especially jobs that seem incomprehensible to the public. A prime example of this is accounting. Many people including business owners have misconceptions on financial matters. It is important to know the actual truth behind the stereotyped beliefs so that you avoid serious consequences in the future. Here, we are throwing some light upon those accounting myths and facts.

Myth 1: My business is small, I don’t need an Accounting Software.

Accounting software is necessary for even small businesses to stay on top of their finances. It makes cash handling easier and keeps business intact. These digital solutions cater specifically to your business needs. Accounting software speeds up the data entry process, that is with less time and effort you get efficient financial results of your company. It eliminates manual errors and improves accuracy. All these benefits your company to make better decisions and forecasting.  

Myth 2: Accounting is only important during tax season. 

Tax season is an important and busy period for all businesses and accountants. Some companies make a huge mistake by making their accounts active only during this tax season. Rather, it is important to keep track of your books throughout the year. This helps data entry and tax filing much easier. Staying on top of your finances all through the year ensures that your business performance is intact.  

Myth 3: It is not affordable to own accounting software. 

This varies according to the different accounting software you go for. There are many accounting software that are affordable to your business in the market. There are accounting platforms that even give free packages. Certain online accounting systems provide different plans from which a user can choose a suitable one that complies with their business needs. This allows the user to customize financing according to their business niche and pay only for what he uses.  

Myth 4: Adopting new technology is unnecessary.  

There have been businesses which has flourished without any advanced accounting technology. But with the breakout of a digital era, we cannot miss out the benefits yielded from a system enabled by innovative technology. With blockchain, triple entry system, Automation etc. being the next big things in accounting, you cannot deny the fact that staying away from these technologies may slow down your business performance. 

Instead of hesitating to try out new things, be open to every innovation around you. All these streamlining makes your job easier and effortless. Thus, enhancing your organization’s efficiency and increasing the company’s overall turnover. 

Do not fall into these accounting misconception traps, instead understand these accounting myths and facts. It’s better we know the reality and act according to it.

Learn More

10 Effective Ways Accounting Systems Improve Your Business


t’s not unusual that business owners get busy with several management operations. One among them is the bookkeeping process of the company. It can get you caught up for days and monthsThis is why companies have started adopting different accounting systems to run their business hassle-free.

Today, businesses have a higher scope for improvement through several ways. With better and enhanced technology of accounting software, every establishment is finding roads to their financial destination. You cannot deny the fantastic ways by which these accounting systems improve your business sustainably. Let’s look at some of them –

10 ways accounting systems improve business

1. Financial Stability

As the saying goes ‘you can’t do it unless you organize’. If you can’t get your finances organizedyou cannot do your business properly. If the cashflow of your company is stable, you get a precise understanding of how much the money comes in and goes out. Accounting systems improve business by getting accurate insights of the financial stability of the business. Having a systematic money management also helps to take accurate forecasts for future revenue and expenses.  

2. Effective Marketing

When your financial records are stable and organized, it delivers insights into the cashflow and expenses of the company. The company gains clear monetary information which helps to make informed decisions regarding business marketing. 

You get to decide the right time to launch a marketing campaign with accurate accounting information and helps you understand whether the marketing efforts are worth it or not. 

3. Easier Tax Filing 

The tax month is said to be the most stressful time for every business owner. Identifying every penny spent and calculating the taxes can be really taxing and complicated. With a systematic accounting system in hand, it turns out to be the easiest task. It aids you to record your financial operations throughout the year and allows you to generate taxes in a single click.  

Do you want to generate VAT from your financial records seamlessly? Click here to learn more.

4. Real-time Financial Reports 

Real-time financial reports provide a snapshot of the company’s financial health and help to keep track of the operations. Financial statements like profit and loss statement, trial balance report and detailed ledger indicate the firm’s standing in the financial status. Moreover, you can understand business performance and identify business trends which eventually improves the accuracy of business forecasts and goals. 

5. Better Decision Making 

Financial information delivered by accounting systems is a great decision-making tool. A sophisticated accounting system improves a company’s accounting management. With elementary reports and graphical representations, it makes it clear to understand the financial condition of the business. In turn, you are able to make insightful, smarter strategies easily based upon the accounting data.  

6. Automates Your Accounting  

When everything around is transforming into an automated mode, why not accounting too? While it’s notoriously known that accounting process is a manually exhausting, automated accounting systems comes as a great relief. It makes accounting operations simple. From generating invoices to bank reconciliation, automated accounting systems improves your business by delivering a hassle-free business management. 

7. Faster Error-detection 

Accounting transactions are recorded instantly into the accounting software. This makes it easier to spot mistakes or any malicious activities within a matter of time. This way quick actions can be taken. As there’s a bulk of data flowing into the system, automated accounting tools consolidate it and give accurate results. You have less room for errors when the software computes expenses and revenues in real time.  

8. Financial Data Security 

A company’s most confidential information is the financial data. You have to make sure that the financial information is highly secured, or it can create a huge data loss in your company. Data security planning is important and accounting software ensures that. With end to end cloud security or protected firewalls, accounting systems safeguard your financial information strongly. Unless you are not granted rights to enter into the system, you cannot see the data. 

9. Quick invoicing  

Accounting systems improve your business by offering automated invoicing suitable for every business. They allow you to create and send infinite invoices to your suppliers or customers and get you paid before due. Another significant benefit of having that is, it saves a lot of time and eliminate mistakes. And they say time is money. So, imagine the factors you save by adopting an accounting software – time, money, effort.  

10. Determine Business Profit 

The ultimate purpose of running most of the business, whether standalone or in partnership, is to determine the profit of the firm. Without systematically computing the business revenue and expenses, it is difficult to evaluate the profit earned by the business. A business may or may not be profitable initially but measuring and streamlining it throughout the course of time is important.  

With so many strong lifesaving elements put out, no businessperson would hesitate to embrace an accounting system for their own company. An accounting system improves business by giving financial stability effortlessly and quick accounting operations done within a matter of time. Besides, it helps to get better insights into data and makes you take informed decisions for the company. 

Learn More

Full-fledged accounting features fulfilling your business needs

While our developers are brewing the Accounting Software, let us serve some hot features of our product that will elevate your financing senses. 

We have come up with user-centric features for our accounting software that make your job easier, quicker, and organized. SimpleAccounts does not take the edge of the users’ excitement. We offer a myriad of features with our very first launch.

Have a look at some of our exclusive features that manage your books seamlessly.  

accounting features

Customizable Software

Get customized software with premium features as per your business needs. From professional to traditional business, every line has its own way of working. So is the bookkeeping. SimpleAccounts enables you to create a bespoke accounting dashboard according to your company requirements. Don’t miss out on this premium feature, go SimpleAccounts, and bring the best out of your business. 

Professional Invoicing

Create and track professional invoices for a smooth-running business. Whether it’s a small or large business, loose invoicing can dread everything. SimpleAccount’s easy invoicing system helps you maintain healthy cash flow. Generate multiple statements distinctly for your expense and income. Create and send competent invoices to your customers and track all the lazy payers. 

VAT Compliant

With easy invoicing, your VAT reports are a click away. While handling your business accounting, you must be wondering how to manage your company’s VAT in a simple way. Hakuna Matata! SimpleAccounts automatically generates VAT from your invoice transactions. It saves a lot of time. Indulge in your long-forgotten hobbies now as you have ample time. 

Link your Bank

Connect your bank and keep track of your expenses easily. Link your bank account with SimpleAccounts and just watch it do the work for you. SimpleAccounts goes through every transaction and keeps them updated. Our high-level software helps you to set-up your bank transactions with SimpleAccounts account effortlessly. 

Blockchain Accounting

Blockchain empowered accounting system for efficient bookkeeping. We are pioneering the gamechanger Blockchain Technology right into your accounting system. By cryptographically storing your data in the system, we are promising a secure and agile bookkeeping experience. Our blockchain integrated accounting delivers an error-free and automated conduct of business.  

On Premise

Get your data encrypted end-to-end on your desktop securely. SimpleAccounts exclusively brings you a choice to go the desktop way. It ensures you 100% security. If you are still looking for ways to manage your data under your own firewalls, we have on-premise feature for you. Manage your data in-house with our unique on-premise provision. 

Triple Entry Accounting

Uncompromised security for your business. Secure, consistent, real-time – Triple-Entry accounting has an edge over previous accounting systems.  We integrate this cutting-edge technology with your business and allows you to take a chill pill. Watch it do wonders for you effortlessly! 

The list does not end here, we are working head-on to develop innovations that make your job easier. Take a tour through our Roadmap to learn about our upcoming features. 

Learn More