Financial Reporting Software:
Financial Reporting Software is a software that is used to help storing data and producing reports related to costs, performance, and a variety of other metrics.
The collection of financial data can be automated and trends that impact business goals can be more accurately tracked. A greater visibility and insight into the workings of the business can be provided by the financial reports to the business owners. The task of reporting of financial results, status and transactions of an organization can be automated by using Financial Reporting Software.
Features and Benefits of Financial Reporting Software:
The Financial Reporting Software has several features that can benefit the user in many ways to grow their business. Some of these include:
- The software will help you save much of your time as the tasks like organizing expenses, tracking time and following up with clients can be automated.
- It is easy to look like the professional as a sleek looking estimates and invoices can be generated that show off your brand.
- It will help you get paid faster with accounting software that offers online payment solutions to make your client happy
- The financial and accounting tasks of an organization can be performed very easily.
- The software can help to keep your books accurate and you can also get timely reminders to avoid late penalties.
- Accounting costs can be reduced and efficiency can be enhanced by using this software.
- Creating and Customizing your invoice, adding your logo and personalizing your thank you email becomes simple and easy by using this software.
- Task like sending reminders to securely charging the credit card of your client can be automated.
- As the software follow-up with clients automatically, so you get more time to focus on what matters most.
- All your information are securely stored.
- Unlimited invoices can be created and send. The invoices can be customized. Recurring invoices can be automated, deposits can be requested and client retainers can be managed.
- Credit card payments and bank transfers are accepted online. International currencies are accepted. Late payment reminders can be automated.
- Unlimited estimates and proposals can be created and send. eSignatues are accepted and client account summaries can be send.
- Unlimited expense entries can be added. Expenses from your bank can be auto-imported. pictures of receipts can be taken and stored. Expenses can be Categorized. With all this features Expenses can be tracked easily.
- Projects can be managed very easily by creating unlimited projects, inviting your clients to projects and managing projects under client retainers.
- Time can be tracked by tracking billable hours and generating automatically bill or invoice for tracked hours.
- Bank reconciliation can be used to match financial records and your accountant can be invited to join your account. Chart of accounts can be generated.
- Tax reporting, Business reports as well as Accounting reports can be generated and managed.
- Project budgets can be calculated that keep your team on track.
- Any number of special reports can be generated to reflect the unique structure of your organization, the nature of your markets and customers, and the specifics of your operational activities that generate financial transactions.
- The standard and required financial reports such as income statement and balance sheet, general ledger reports, open receivable and payable reports, trial balance, cash flow forecasts, etc can be produced.
- Multiple versions of the standard report such as departmental P&L, product or customer specific reports, various consolidations across departments, divisions, subsidiaries or market can be easily and quickly created.
- Flexible reporting is provided by the software that gives you the ability to clearly see cause and effect, sort out significant trends and affects, and project the possible result of changes in strategy and tactics.
- The day to day financial tracking software can be transformed into a resource for real business value.