Proper accounting practices ensure that the company manages its finances, tracks revenue and expenses, complies with tax laws, and makes informed business decisions. Here are some accounting solutions and practices for a software development company:
Accounting Software
Chart of Accounts
Accrual Accounting
Financial Statements
Budgeting and Forecasting:
Invoicing and Payment Tracking
Effective accounting practices are essential not only for compliance but also for making informed business decisions and managing resources efficiently. Regularly reviewing your financial reports and working with accounting professionals can help ensure your software development company’s financial stability and success.
Accounting Solutions include;
1. SIMPLEX FAWIN
Simplex Fawin is the intelligent fixed asset manager that performs most assets management procedures with ease. It eliminates the unforgiving bureaucratic bottle necks encountered in depreciation and such like calculations. It also generates various reports upon demand.
2. SIMPLEX BEACON
Simplex Beacon is a bank reconciliation solution that gives you the ability to reconcile your cash book to all your bank accounts in no time and without stress. Print reconciliation statement at any time all year round with no human intervention.
3. SIMPLEX iGALAXY
Simplex iGalaxy is a combination of General Ledger and Moneybook. General Ledger is the central hub where all transactions are consolidated and
used to provide real-time information on your financial position. Moneybook processes all payments & receipts and generates appropriate entries to the G/L with effective tracking of account payables and receivables. The entire process is fully automated from requisition to cheque printing. Money book recognizes electronic fund transfers dimensions of all banks, as well as allowing users to define new ones as they occur. iGALAXY is fully IFRS compliant and generate IFRS statement.