3 Things Why Need To Link Inventory Software With Accounting Software

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Linking an inventory software Singapore with an Accounting Software is critical in Singapore trend nowadays due to the fast pace company need to know real-time information about their stock levels with their accounts statements real-time daily. Through this, company sales revenue can be boasted such as real time information about company stock can be known to clients T and delivery can be made on the dot and statement of accounts by accounts department can generate instantly. Therefore, businesses have to identify ways of getting a good real-time inventory system to monitor stock level and link to accounting modules or accounting software in real-time instantly.  What exactly is accounting software in Singapore? And why must link the inventory system with accounting software?

Examining Company Operation Flow

A detailed close examination of a company’s operation is important. Example: A trading company operation is different from a manufacturing company with a load of Bill of materials management required (B.O.M). Identify the key elements involved such as how many employees need to get involved in setting up the inventory list and the category and grouping of each item so that when viewing reporting is easy when sorting by groups of items for management for review. Without proper grouping, it will be messy should you need to know which items are fast-moving items and which group items are not earning any profit margin as selling below cost.

Distribute Work Load

After details set up of items and grouping are done, it’s now next to distribute workload to staff. Who is in charge of issuing daily invoicing or billing? Who is in charge of accounting daily to make sure clients pay on time and the statement is emailed to clients every week? A good system is important but a good task by staff is important to execute it and be responsible for it so that management can see reporting without any errors such as inventory list stock balance and others.

Firm Strategy

Last by not least, you need to have a team leader to make sure daily operation is successfully input to the inventory list which in turn is linked back to accounting software or accounting module. Look for professional Accounting Software Singapore who can provide you with good support. When you encounter some difficulties you are able to ring them up to remote instantly troubleshoot for you rather than you spend the whole day trying it yourself. Remember every time spent is important and must not be wasted. Monthly, you need to review your whole company account statement from the accounting software reports generated and take action such as if the budget had to be exceeded based on the profit and loss report quickly cut cost for next month and if debtor owing is a lot based on debtor aging, quickly ask the key person in charge to email and chase for payment which can easily be emailed out from our accounting software.3 Things Why Need To Link Inventory Software With Accounting Software

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