Bookkeeping Software Can Simplify the Bookkeeping Process

The advent of efficient bookkeeping software has revolutionized the way Bookkeeping Services is performed in organizations. With large volumes of accounts receivables, account payables, billing and Payroll Services to handle, organizations found it difficult to manage the different segments of bookkeeping. Competent bookkeeping software has enabled companies to work better and save on time and effort.

There is a wide range of bookkeeping software that bookkeepers can use today. The following is a list of the different bookkeeping software available and the benefits that each offer:

QuickBooks

Quickbooks Bookkeeping Software is one of the easiest to use financial software. It has an easy to use interface, simple navigation toolbars and a user-friendly graphic menu. The Quickbooks software is divided into various sections, such as the help section, customer section and vendor section. There is a help button on every option and users can go through FAQs in the quick help menu. The Quickbooks software gives users flexibility on a variety of tasks related to accounts receivable, accounts payable, payroll, inventory and banking. Other features include a general ledger and job costing tools.

Quicken

The advanced features of Quicken make it the software favorite software among accountants. In the latest version of Quicken enables users to see more of workspaces and reports at the same time. Financial data can also be viewed more easily. The tabs in Quicken enable users to easily access different functions at the same time. Summarized versions of critical information can be seen on the home page and activity center. With features such as, financial overview, cash flow center, investment centers, Quicken Billminder Gadget and Quicken account bar, Quicken is a good choice.

Peachtree

The latest version of Peachtree is packed with advanced options to enable bookkeepers to maintain accurate records efficiently. It has an easy-to-use interface, an informative business status page, input screens for (billing, payroll & invoicing), advanced reporting tools and high-end options. Bookkeepers can synchronize contact information with ACT and set up this software without any difficulty. All these advantages make the Peachtree accounting software a favorite among bookkeepers.

NetSuite

The NetSuite Accounting Software is a single, integrated suite that has advanced accounting, ERP, CRM and e-commerce abilities. With the NetSuite accounting software, bookkeepers can competently mange accounts receivables, accounts payables, general ledgers, billing and payroll amongst others. NetSuite has efficient tools for sales force automation, support management, marketing automation, global CRM, productivity management, e-commerce, partner relationship management, financial management and employee resource. With its flexibility, real-time decision making and seamless integration bookkeepers find this an easy-to-use software.

Business Works

The business works accounting software is simple yet powerful accounting software. It is flexible, easy-to-use and has integrated modules. With business works, bookkeepers can provide extensive reports and even share data with other users. Business works enables bookkeepers to manage the entire operation flawlessly.

Advantages of using bookkeeping software

• Saves time and effort
• Saves on manpower
• Enables bookkeepers to work more efficiently
• Different segments of bookkeeping can be handled with ease
• Data can be shared easily
• Errors can be minimized
  

Use bookkeeping software and watch your bookkeepers work more efficiently.

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How to Become a Financial Auditor

Auditors are an important part of the accounting sector. An auditor is a person who performs a job that is related closely to an accountant. The job of an auditor is to personally review and do a follow up of the financial credibility of a particular company. The methods for the job can be rather straightforward and simple, although it can be somewhat time consuming.

A financial auditor needs to evaluate and analyze financial records and make financial reports. Internal audit jobs require reviewing of the financial records of a company and this includes receipts, taxes as well as purchase orders. Auditors scrutinize the financial statements of a company to ensure that all the statements as well as information is accurate and is compliant with the federal laws. The internal Auditors work with the records of the business that employs them, while a tax or independent Auditor works with more than a single individual or company. Added to that, you need to furnish the right credentials required for the job. A financial auditor checks the financial information of an organization and reviews the information for any inaccuracies that might be present. These may be in the form of an error, fraud or discrepancy that you are supposed to check.
Requirements

Academic: You need to meet the educational requirements of becoming a financial auditor with an advanced degree in accounting from a reputed or widely recognized institution. Next, you need to get a certification and once that is done, decide on the area of interest.

If you want to go for an auditor's job, make sure you are good at mathematics and accounts in high school. This helps you sharpen your math skills when you are pursuing higher studies and a financial degree. A business qualification with the highlight being on finance is a boon for an aspiring auditor. The option for a lot of students is to decide between choosing a bachelor's degree, if not a Master's that adds additional authority and significance to their qualification.

After completing your graduation at a well known or credited college or university, you need to be a major in accounting or a related field. Even after the qualification, if a financial auditor finds a job, getting a certification is necessary in the field. Generally, this is something that takes a couple of years, and the field of certification includes internal auditor, certified government auditing professional as well as financial services auditor. The designation depends on the kind of career you are interested in.

A financial auditor needs to be competent with a sound educational background focused on the fields of mathematics and accounting. A number of certification opportunities are also available for the Auditors. You are required to have good knowledge in accounts and credit as well as have good analytical skills.

Training: Internal audit jobs can be bettered with training; so it is advisable to go for a training or internship program if you get a chance. Look for employment opportunities in your local newspaper in the accounting firms in our neighborhood or government agencies. Auditors can also apply for a clerk's position if no internal audit vacancies are available. This makes you familiar with numbers which is crucial for an auditor's job.

Prior experience: Auditors can work for a couple of years as an internal auditor. This is required if you want a certification of the Certified Internal Auditor agency. Ordering the official transcripts from your college is also beneficial as a part of the applying procedure.

Employment Outlook

Career prospects (globally): There is a lot of scope for auditors who can find good openings with a viable qualification from a recognized institution. As the careers can be pretty varied in nature, you can expect a lot of opportunities compliant with your field of interest or choice.

Salaries: The standard median for a financial auditor in the US is $72,000 and more if you have years of experience.

A financial auditor is likely to work for a company and audit the books of the organization. Internal auditors may also work for a private firm and can be even hired for conducting an independent review of the books as well as records of the organization or company in question. The job of the auditors involves the overseeing of the books and records of the financial or government organization and approval of the budgets for the requirements of the local government.

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A New Approach To Bookkeeping - Outsourcing

The corporate world seems to be going through a unique phase and this has definitely created a sea change in the way companies conduct their businesses. Even though the size and nature of each business vary, one area that has always assumed importance is the accounting or the bookkeeping department. This special section is one of the most prominent parts of an organization and holds an important say in determining the financial decisions and their implications pertaining to the company.

Given the kind of importance that this department has in any organization, it is natural that people working in this department are expected to be intelligent and highly efficient. They are usually well-versed in the various aspects of accounting and financial planning. However, as per the recent trend, businesses find it worthwhile to take up bookkeeping assistance from an outside firm. This has happened because the cost of hiring such people is on the rise and has become a drag on the company resources. Such circumstances have led to steps like outsourcing accounting services to reputed bookkeeping firms.

Outsourcing the bookkeeping functions implies that you are hiring another firm to keep a tab of your company transactions. In other words, you are delegating the responsibility of up-keeping your financial records to an outside agency instead of having your own staff do the job. By following this practice, companies have been able to substantially reduce their costs. Though many may have shied away from this practice for fear of third party misuse of the information they provide, many companies have of late, joined the bandwagon.

This may seem a new thing to most people, but it is not so to many companies who have been doing it for quite some time. An increase in the number of companies following this example proves that there is indeed some sense in doing it. The primary reason for outsourcing is that, when a company is outsourcing its activities, it can drastically reduce the labour cost associated with it. The company saves a lot in terms of administrative costs when these activities are performed in-house. The company doesn’t need to worry about giving higher emoluments for a work, which can be done at a much lesser cost.

In order to get the most out of bookkeeping outsourcing, the company has to choose a bookkeeping firm which has got sufficient experience and qualified personnel to handle different types of business accounts. In today's competitive world, every organization who wants to re-invent itself is seeking bookkeeping assistance from an outside service provider to keep up with the changing business strategies around the world. For small businesses, a sensible strategy to gain the expertise of a bookkeeper and the auditing skills of a CPA will be to hire a bookkeeper to complete the daily entries; and at the same time, to hire the services of a CPA either monthly or quarterly to ensure that everything is in place.

About Author: Vish is an SEO copy writer, for more information about London Bookkeeping and Bookkeepers visit lbks.co.uk

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The Home Based Bookkeeper

If you are looking for a home based business to start in Huntsville Alabama and you are good with money and numbers, consider starting a home based bookkeeping business. There are many micro and small businesses in Huntsville that need someone to do their books that they can reasonably afford on an independent part time contract basis. That person could be you.

Internet technology and broadband allows a bookkeeper to do most of the work from the comfort of their home via their computer. You can work for clients locally, and at a distance. You can work with small and micro bricks and mortar businesses or other home based business in Huntsville on an independent contract basis. This means that you are not their employee, you are an independent business owner. They pay you a straight fee and you are responsible for your own taxes, business licensing, and registrations.

To start a bookkeeping business from home you need the following:

Training or Education in Bookkeeping or Accounting

You do not need a special license to be a bookkeeper but it is nice to have training, certification, and the honest ability to do the job. In Huntsville you can get bookkeeping training in a variety of places, one is via online training through the University of Alabama's Division of Continuing Education. You can go there and click on Certified Bookkeeper. If you have no training at all in bookkeeping please choose bookkeeping the easy way or consider attending Calhoun Community College. You can earn a two year accounting degree. You may earn an Associates of Science degree or an Associate in Applied Science degree at Calhoun.

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No Plans to Outsource Tax Processing Work To India, Says UK

LONDON: Britain has dismissed reports that it is contemplating outsourcing sensitive tax processing work to India, saying it does not have any such plans right now.

These services are not permitted to be delivered from outside, said a spokesman for Her Majesty's Revenue and Customs (HMRC).

"We currently have no plans to change this. HMRC is constantly looking at how it can provide better value for money to the taxpayer. Project Quantum is specifically focussed on value for money in the IT field," he said.

The spokesman was refuting a report in 'Computer Weekly' that Britain's Finance Ministry is considering proposals to contract out sensitive tax processing work to India.

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Confusion over New Requirements for Tax Bookkeepers

Confusion has broken out around the requirements that bookkeepers who prepare Business Activity Statements will need to meet to become registered under the Federal Government's new registration regime for tax agents.

Assistant Treasurer Senator Nick Sherry released the final draft of the regulations for the for the new national tax agents system. The new system will require bookkeepers who prepare BAS statements to register with a new national board.

A transition period will run for two years, after which all registered BAS bookkeepers will be required to hold the Certificate IV bookkeeping qualification.

The new regulations have been largely welcomed by Matthew Addison, executive director of the Institute of Certified Bookkeepers, despite the fact bookkeepers costs could rise by as much as 40% due to the new requirements.

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