At Prestige Australian Financial Services we are experts in the installation and use of many types of accounting software.
Our experts will meet with you and get to know your business, advise you on the software you need, assist in software installation, guide you through the use of the software, and provide ongoing training.
We are experts in cloud based accounting. Cloud Accounting allows users to access accounting software through the internet, as opposed to buying and installing it on a computer.
Accounting software is typically composed of various modules, different sections dealing with particular areas of accounting. Among the most common are:
- Accounts receivable — where the company enters money received
- Accounts payable — where the company enters its bills and pays money it owes
- General ledger — the company’s “books”
- Billing — where the company produces invoices to clients/customers
- Stock/inventory — where the company keeps control of its inventory
- Purchase order — where the company orders inventory
- Sales order — where the company records customer orders for the supply of inventory
- Bookkeeping — where the company records collection and payment
- Debt collection — where the company tracks attempts to collect overdue bills (sometimes part of accounts receivable)
- Electronic payment processing
- Expense — where employee business-related expenses are entered
- Inquiries — where the company looks up information on screen without any edits or additions
- Payroll — where the company tracks salary, wages, and related taxes
- Reports — where the company prints out data
- Timesheet — where professionals (such as attorneys and consultants) record time worked so that it can be billed to clients
- Purchase requisition — where requests for purchase orders are made, approved and tracked
- Reconciliation — compares records from parties at both sides of transactions for consistency