Integrated Accounting Systems

2008-03-19 10:00:02

( Financial )



Common Problems of Non-Integrated Accounting Systems

A business organization is a highly complex set-up, with very diverse functions operating together. Each area of management, such as production and human resources, may have independent databases which may provide either limited or no access to other departments.

If you are still maintaining an accounting and record keeping system that is structured in the old way, you may have experienced problems in looking up pertinent information and in implementing some functions. For instance, you may have to make hard copies of some databases so that you can use the information to perform functions that are specific to a department.

Many companies who use conventional systems may not have computerized all their forms and data, so this also slows down work processes, especially processing of orders and responding to customer issues.

Benefits of an Integrated Accounting System

While conventional accounting systems may need several types of software to operate together, an integrated accounting system can perform multiple accounting and operational functions just by using one program.

Integrated accounting systems combine all your office functions, databases and documents into one, so that with a click of a button, you can come up with an invoice that already contains basic customer information automatically picked up from the database. Or your employee time records can be automatically accessed to enable immediate processing of pay slips.

You can link your databases to your accounting functions in order to generate financial statements and schedules. This speeds up preparation of financial reports. You can also extract old databases or archives and utilize the information to process new reports or create new files.

Most of the applications are customizable, so that you could adapt it to your company's own structure.

Getting Integrated Accounting Software

Many software developers offer their own versions of integrated accounting software for business use. As the software can be customized, it may cost a sum of money to get it and adapt it to your system. It will be best for you to discuss your options and needs with a software company.


All rights Reserved © Tradenet Services srl
Do not duplicate or redistribute in any form.