Accounts Software - Businessware Product Overview

Financials

The Financial section is the heart of Businessware's accounts and financial management. However it has been designed to be easy to use and understand without the need for bookkeeping or accountancy know how.

It stores your company's financial balances for upto 3 years which enables you to produce extremely comprehensive reports for any period or combination of period ie quarterly, half yearly etc. Periods can be automatically opened without the need to close previous periods first and any back-dated transactions are automatically written forward to the current period, allowing for tremendous flexibility and putting no restraints on how you operate the system.

Transactions available in the Financials section include direct journal entries which are useful for your accountant. Often disregarded transactions such as prepayments and accruals which enable you to properly deal with advance payments such as rent and for accrued payments such as rates are also catered for.

The Financial section is fully integrated into all the other sections such as Customers, Suppliers and Bank. All updates are made immediately and automatically ensuring your financial information is always up-to-date.

You can setup your core financial reports such as profit & loss and balance sheet. This enables you to breakdown and group your financial accounts in the way which makes most sense to your business. You can compare different periods on financial reports to give you virtually limitless versatility in your management accounts and financial reporting.

Also covered in your Financials section is the VAT Return report which has been designed to look like the VAT 100 form. Simply set the period you want your VAT Return to be calculated for and the system calculates your figures for you automatically. Full drill-down is provided right back down to the make-up of transactions to enable you to fully justify and reconcile the VAT return. Both standard VAT and VAT cash accounting schemes are fully supported.

Budgets Vs Actuals reports are also available which links through to the monthly budget figures that can be entered for upto 36 financial periods. As with other financial reports you can produce budgets vs actuals analysis for any period or combination of periods which makes for an extremely flexible analysis tool.

Keep your accountant and bank manager happy with the features in the Financial section and the reporting power it brings.