Accounting Report is necessary for company management to manage and monitor his company performance. If you want to be successful, please make sure you have accounting reports at least once a month.
Most SMEs do not employ accountant. Most of them will say that the company could not afford to add the accountant overhead cost to the already low profit. OfficeCentral Automated Accounting feature is the solution that most of you waiting for.
Automated Accounting will read the data from the various departments on your company and automatically do the debit and credit in the accounting automatically. If you do not have accountant, this is fantastic. If you already have accountant, this will free him from the tedious debit and credit work and enable him to help you on other things that are more value added.
Automated Accounting for CRM Sales.
Your sales team will do their normal work using the OfficeCentral CRM System. She will issue the invoice to her customers as usual. The Automated Accounting will understand what Revenue (category) to Credit and What Debtor (customer) to debit. Practically 100% done by computer. If you click the Profit and Loss report, you can already see the additional revenue and the impact on profit. If you click the Balance Sheet, you can already see the additional value in Debtor account. When she received payment from her customer, she will record the payment in the CRM Sales Credit to Debtor (customer) and Debit the Bank. If you click the Balance Sheet, you could immediately the update on the Balance Sheet that the Debtor is already paid and the Bank balance goes up by the same amount. Everything is done automatically. Of course you can see the general Ledger, Trial Balance and Cash Flow reports immediately.
Automated Accounting for Purchasing Sales.
When you use the OfficeCentral Purchasing, you can also turn on the Automated Accounting feature. You will issue Purchase Order. You will receive Delivery Order. You will receive the invoice from your supplier. The system will immediately update the Purchasing record and Credit the Creditor (Supplier) and Debit the Cost of Goods Sold or the Overhead or Asset. What account to debit is configured during the setting process earlier. You will immediately can see the impact in the Profit and Loss report and the Balance Sheet.
You pay the supplier, the system will automatically debit the Supplier (Creditor) and credit the Bank. The function probably done by Finance department. The Automated Accounting is also available in Finance module.
Automated Accounting for Finance
You will do payment process using the Finance module. When you issue payment, the Automated Accounting will be doing the debit and credit automatically. The finance department may issue payment for purchases, payroll, staff advance and claims and others.
Automated Accounting for Payroll
Automated Accounting will also do these Payroll transactions effortlessly. The Payroll involves many transactions such as staff salary, EPF by company, EPF by staff, SOCSO, PSMB, Zakat, other deductions and additions. Every month there can be hundreds or thousands of accounting transactions for the Payroll. Automated Accounting will save you 100% accountant time. If you are running a SME company, this could be the feature that you have been waiting for. No need to add additional staff. No need to employ fulltime accountant. Your accounting reports are prepared automatically by the OfficeCentral Automated Accounting.
Automated Accounting for Project Costing
OfficeCentral Accounting also have the feature for project Accounting. Basically, the system will give you the Profit and Loss report for every project that you do. Many companies wanted to know the P&L for every project that they do. The Automated Accounting feature will do the necessary debit and credit transactions inside the system. You can click the Accounting reports on project Accounting and will see the transactions reflected in the report immediately.
Automated Accounting will significantly increase your staff productivity. You will get your financial reports immediately. There is no delay. You do not need to employ accounting data entry clerk. You do not need to employ full time accountant if you could not afford it yet. It is not that you do not need Accountant. You will now use your accountant to analyse your business performance and advice you on what to do. They can analyse the past performance and help you predict the future. You take action to ensure your continued growth. You take action to avoid predicted problems.