ERP Software Vs Accounting Software
As the growing demand of various business management software day by day, companies need to integrate accounting into all departments and therefore a requirement for durable accounting software arises.
The software solution is needed to check the cash flow and proper coordination between the departments. Today, many large-sized organization are looking for Enterprise Resource Planning (ERP) software. ERP covers functional areas such as HR, Sales and Logistics, Finance, Production, Customer Relationship and Payroll. It is used for making best usage of the resources of a business organization.
ERP covers all the facets of small to large businesses including accounting and integrates all the aspects of an organization under one consolidated software to allow the data to flow from one division to another in real time and produce seamless results which can reflect status of overall organization. The software is competent of dealing with all the functionalities of an organization, such as in manufacturing business, it can start from storing track of raw material suppliers up to after sales informations of the products. On other side, accounting software keeps records of money flow by account receivables and payables and creates reports which shows the accurate standing of a business in terms of profit and loss.
Accounting is just like a module of an ERP system. The software deals with accounts transactions like balances and payroll, accounts payable and accounts receivable etc. To determine the vast variation between accounting software and Enterprise Resource Planning software one must need to know that accounting software begins from cash and bank vouchers, purchase, sale, and finishes at balance sheet illustraiting the financial status of the company within stipulated period.
Benefits of Accounting ERP software:
Flexible Cash Flow Reporting: The software helps to keep a check on all cash that is flowing in and out of the organization. In other way, it will help you correctly define the financial status of a business.
Business Intelligence Reporting: An Accounting ERP software allows you access to financial management reports with just in a few minutes. One can quickly check to find out how much profit the organization is bringing in and track how much money has been expended.
Article Tags: Accounting Software
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ABOUT THE AUTHOR
The author is a content writer by professional and wrote various articles for ACG Infotech on a number of software products such as online ERP software, construction ERP, web based ERP software solution, hospital management information system, calibration Lab software, ERP software for buying house, CRM software solution, web based CRM solution etc.