Automation is transforming the accounting and finance profession. Accounting and finance software is essential for every organization so that they improve their business and work efficiency and accuracy. Accounting is not only about ledgers, bills, credit, and debits but good accounting provides features like analysis and reports apart from ledgers and bills only. Research from the United Kingdom has revealed that 37% of small and medium-sized business owners think that accountancy is becoming more automated and that they can complete a range of tasks themselves. Organization heads expect services that utilize accounting automation to deliver a smooth experience.Skolaro school accounting software deals with the complexities of found accounting and financial reporting have everything an institution business manager needs to operate efficiently, including sophisticated financial reporting. Modules include Company Ledger & General Ledger, Accounts Receivable, Accounts Payable, Bank Reconciliation, Budget, Income & Expenditure A/C, Day Book, Bank/Cash Payment, Cash Receipt/Bank Receipt, Journal Voucher cum Voucher Printing, Trial Balance, Modification of Voucher, Facility to Combine Department’s, Balance Sheet and all General Accounting features.
Accounting provides information on the resources that are available to a firm, ways applied to manage fiscal resources and outcomes that are achieved through their use. Analysis- is a basic key to any business as reporting and analytics helps in decision making and in turn saves time for management. In future, machine learning will give accounting and finance professionals unprecedented insights into their client base. Accounting and finance software should be friendly and intuitive that even a naive person can use it. Once implementation of software is done and accountants are trained, it will take less time to complete their daily tasks. Keeping client requirements in mind, accounting software is totally customizable as per the client’s ease. Accessing data is easy between accounts department, HR department and other related departments as entire data is stored in one place.
Skolaro financial accounting management system aims at making accounting and financial process understandable by a common man with limited and no exposure to the world of finance and accounts. The application enables all departments within an Institute in maintaining their book of accounts across different companies as applicable. The Accounting entries done across all the departments get consolidated at a central Institute level and are available for quick reference and corrections is required. Security is a concern when data is shared, but we promise to maintain data integrity and does not support data sharing between different organizations.
Accounting and finance reports or periodic statements which show financial position of a firm at a given time, or over a stated period, resulting from its business transactions and operations are entertained by every organizational head.These reports provide sufficient information for an accountant to forecast future performance and recommend changes necessary to keep an Institute on track with the business plan. It is revealed that fee defaulters have reduced by 45% as per the information gathered after using accounting and finance management system.Few of the reports that our system provide are listed below:
- Class-wise Fee Defaulter
- Class-wise Due/Collection/Pending Amount
- Fee Collected (Online/Offline) per Trimester
- Cumulative Fee Default Amount per Trimester
Key points of Skolaro Accounting and Finance Management System:
- Budget preparation and financial planning
- Master setup for financial accounting
- Group company/Sub company formation
- Cash payments/Receipts
- Bank payments/Receipts
- Journal Register
- General Ledger and Sub Ledger
- Income and Expenditure
- Trial balance and Balance sheet
- Bank Reconciliation (BR Report)
- The input of ledger entries with an easy and intuitive interface makes the whole process riotous and error-free
- Prepare and Record vouchers with ease
- Reconcile and Prepare P&L, Balance Sheets, and Cash Flow statements quickly and expurgate your flow
- Prepare standard statutory reports
- Enjoy Real-time Reporting and Multi-dimensional Analysis
Accounting is systematically based on principles called accounting principles viz process of recording, classifying, summarizing, and communicating financial information. School financial management system is necessary for every organization to focus on all features so that using accounting software proves beneficial to them and all requirements of an organization are fulfilled so that it marks growth in their business.