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Accounting Software

The document describes different types of accounting software, including spreadsheets, personal, commercial and enterprise accounting software. It explains that accounting software records and processes financial transactions such as purchases, sales, payments, and receipts to generate financial statements. It also classifies and describes the features and functions of accounting software.
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0% found this document useful (0 votes)
123 views12 pages

Accounting Software

The document describes different types of accounting software, including spreadsheets, personal, commercial and enterprise accounting software. It explains that accounting software records and processes financial transactions such as purchases, sales, payments, and receipts to generate financial statements. It also classifies and describes the features and functions of accounting software.
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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INTRODUCTION

This research refers to the topic: “accounting software” which can be defined as a
computer program that allows accountants to electronically record and process financial
transactions. For this, there are several types of accounting programs depending on the type
of company and the size of business operations.(Osmond, 2014) .

Take into account that it is important to generate financial statements and thus be able to
know exactly the movements that are recorded in the entity or company since the use of
accounting software is very useful, we have several programs that can help, these may be
simple such as spreadsheets or personal accounting software, commercial accounting
software, business accounting software, these are characterized by being flexible, compatible,
and easy to use, providing us with uniform security in the required reports. Depending on the
requirements, we also have advanced options to ensure the data we need.

Its function within the company is to process and simplify the transactions carried out by
the company; which normally include expenses, income and payroll o Facilitate the
electronic billing process and in some cases the personalization of said documents.

GOALS

GENERAL
 Investigate existing accounting software in companies through bibliographic and
virtual sources, achieving a good understanding of the proposed topic.

SPECIFIC

 Search for information on accounting software, making known its importance and
characteristics.
 Detail the classification of accounting software.
 Create users in the FENIX accounting system through a fictitious company.
DEVELOPMENT

ACCOUNTING SOFTWARE

Accounting software is a computer program that allows accountants to electronically


record and process financial transactions. There are several types of accounting programs
depending on the type of company and the size of business operations. (Osmond, 2014)

The accounting software records and processes the historical transactions that are
generated in a company or productive activity: the functions of purchases, sales, accounts
receivable, accounts payable, inventory control, balance sheets, production of items, payroll,
etc.

IMPORTANCE OF ACCOUNTING SOFTWARE

The accounting software and the generation of financial statements allow us to know with
accuracy and neatness the entire financial movement of a business, to prevent resources from
being wasted, diverted into unprofitable activities, and the activity is carried out in a balanced
manner, understanding that expenses are related to income, more is not borrowed than can be
paid, non-productive assets are not held in significant amounts, there is sufficient liquidity to
meet short-term obligations, and in general it can be planned accordingly. orderly way the
financial development of the company. All this thanks to accounting software and the
generation of financial statements. Accounting software is very useful and necessary for your
business.

CLASSIFICATION OF ACCOUNTING SOFTWARE

Spreadsheets

Some entrepreneurs, businesses or small companies choose to do their accounting in


spreadsheet-type software. Since your needs do not imply the need to have complicated and
expensive programs that support the accounting area. And although it may seem strange,
spreadsheets can be configured to keep track of lists of expenses, income, payroll and any
other financial data that you consider relevant. Example:
Excel

Personal Accounting Software

This type of program is characterized by being “created in-house” by and for the needs of
the company itself. Typically, these software are born when a company begins to expand and
the workers themselves are motivated to create computer tools that solve their main needs.
These software can be developed using advanced spreadsheet techniques or you can have an
IT department that takes charge of the project.

Often, these programs are extremely personalized and are not typically marketed to the
public; Since they are created to satisfy the needs of their staff and/or company, they may not
have the necessary flexibility to function in other types of environments.
Commercial Accounting Software

This is the other side of the coin, since these programs are created specifically to be
marketed and sold. They serve to support the needs of any company at an accounting level;
By having the flexibility characteristics that we mentioned previously, they are capable of
adapting to the needs of almost any company and offering you several work advantages.

They are characterized by offering the user statistical reports on the health of business
finances through colorful graphs and reports that can be printed if necessary.

Business Accounting Software


It can be said that it is the evolution of the type of commercial accounting software, since
its functions are more focused on meeting the needs of huge companies. Not only in the
accounting field, but also in the administrative management of the same company; Therefore,
it offers much more robust tools, a larger number of modules and various functions that are
associated with:

 Project planning.
 Workflow management.
 General administrative support for decision making and control.
 And support to provide service to your company's clients through personalized
statistical reports.

SOFTWARE CHARACTERISTICS.

Flexibility

 Adaptation of the program scheme to the company's requirements.


 Definition of typical documents that are most used in the company.

Compatibility

 With other most used office programs such as Office.


 With other accounting and financial programs.

Easy drive
 It does not require specialized computer personnel to manage the
software.
 Immediate consultation of accounting information at any level.

Security

 Only allow the allocation of auxiliary or last level accounts.


 Definition of users with different attributes.

Uniformity

 Permanent presentation of the chart of accounts on screen.


 Standardization of formats and processes for information management: queries and
reports.

Basic Required Reports

 List of documents by periods.


 List of movements by accounts.

Advanced Options

 Have a specialized report generator.


 Ease of software update.

ACCOUNTING SOFTWARE FEATURES

 Process and simplify the transactions carried out by the company; among
which are normally expenses, income and payroll.
 They are used to organize operations in specific accounting accounts; in order
to provide the accountant with an order that facilitates the creation of an accounting
balance.
 They facilitate the electronic billing process and in some cases the
personalization of said documents.
 They have a database with all the operations carried out, logs and records of
the movements made between accounts.
 The generation of historical reports on accounting accounts, operations and
billing.

TYPES OF BUSINESS ACCOUNTING SYSTEMS:

Finance system:

It is aimed at informing third parties, be they shareholders, banking entities and even to
make a decisive decision for the company. Example:

 CACPECO LTDA. Works with the financial 2 software that this system develops
and offers treasury management, capital market and wealth management solutions
for financial institutions, this software is fully integrated to provide direct
processing in a wide range of instruments, activities and markets that credit it
segment 1 to CACPECO, one of the best and largest cooperatives.
 BAN ECUADOR uses the COBIT system, a model created to audit the control of
information systems and technology, it is aimed more at IT administrators and
users, this model is extremely important, because it provides adequate tools to
manage in an agile, consistent way. and clear. Everything related to the fulfillment
of control objectives, ensuring technological information processes and resources.

Tax system:

It is directed to inform and/or enforce the tax obligations of the institutions, it is generally
used and required by the SRI.

LATINIUM FINANCIAL ACCOUNTING SOFTWARE

1. Quick and easy taxation


Obtain with one click the Simplified Transactional Annex, form 104 (VAT), 107
(PAYMENT ROLE) of the SRI. You can also review each of the boxes through
interactive reports. Easy and exact fitting of the modules.
2. Easy to use
Easy to learn, configure and use, allowing assistants to generate almost all the
accounting information needed.
3. Electronic billing
You can very quickly and easily submit and review the tax information required by
the SRI and you will avoid paying fines and return home early with your work
completed.

Administrative system:

It is aimed at facilitating the company in its administrative requirements, it also influences


its decision making, planning new expectations for the benefit of the company. Example:

DATABOX has been designed to answer questions, making available to any type of user,
regardless of their level of knowledge, a tool that will allow them to view, analyze and store
the energy data of their installation, having all the data in a structured and accessible.

Contributes: Storing the data will make it


easier for us to analyze it, evaluate the
progress of the objectives and identify
report
anomalies or deviations.

Report consumption.
Compare between installations
Compliance with energy efficiency
Compare between facilities, areas and uses. legislation.
Compare offers from marketers. Verify the return on investments.
Present information in a way that is easier
to use.

Detect and avoid

Detect and identify atypical consumption.


Rationalize consumption and

Identify billing errors. processes


Detect potential savings (reactive penalty
Quantify kW·ha € savings.
and/or maximum demand).
Simplify the energy management process
Alarms and events.
and reduce reporting time.
CONCLUSIONS

 Accounting software is a very useful technological tool, which records and processes
the transactions that are generated in institutions as a product of their activity. Its
importance lies in the fact that it allows the accounting cycle to be carried out,
optimizing time, simplifying and systematizing the process, facilitating the task of the
counter allowing quick and efficient information to be obtained so that information
users can know the company's business at any time.
 The classification of accounting software ranges from very simple to very complex
ones that adapt to the needs of each business, for example, the spreadsheet can be
used by small businesses that start as an enterprise and do not have the necessary
resources to acquire expensive software and your transactions do not require it,
another option is to create personal software that consists of basic programming
personalized to the requirements of whoever creates it, who may well be the owner of
the company himself or hire a person to program the functions that needs; On the
other hand, there is commercial software, which is made especially to be sold and is
generally focused on small and medium-sized companies, but can also be used by
large companies if it adapts or covers their needs, and business accounting software
has functions. directly for large companies and covers, in addition to accounting and
administration, because it has larger modules that adapt perfectly to the complex
activities and transactions carried out in this type of company.
 Once the investigative work is completed, it is concluded that the preparation of the
report has been of great importance, since the topic of the creation of the FENIX
accounting system has been deepened. On the other hand, it is also concluded that the
accounting system is a tool that is aimed to provide immediate solutions to processing
difficulties and obtaining results that may be in the Accounting, Financial or Tax area
that are of importance to companies. The program or system serves to reduce daily
tasks, taking advantage of time and optimizing resources, in order to achieve greater
professional performance, generating new income and benefits, and thus satisfy
clients when using the accounting system.

RECOMMENDATIONS
 That in the institutions, the personnel who will be in charge of using the software be
adequately trained so that all its benefits are taken advantage of and true, efficient and
real information is obtained on the transactions carried out day by day in the running
of the company, which They will be consolidated in the financial statements reflecting
the economic situation of the company.
 Whether companies are large or small or those that are just starting, choose to acquire
accounting software that, according to the classification, can acquire a very simple
one if their transactions are not so complex or one that has more functions and covers
more areas of the company, You should only take into account when purchasing it
that it will allow you to keep your accounting in order, according to the characteristics
of the software, evaluate whether the implementation cost will be accrued through the
benefit that it will provide if it is flexible enough. to adapt to the needs of the
company.
 Present to interested users the necessary information about the creation of the FENIX
Accounting System so that they achieve greater understanding and can perform in an
easier and faster way in the business environment, since many people do not know
how the system is managed and have difficulty in time to carry out their activities.

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