Financial Accounting
monitor and track your business with Ezy online accounting software from anywhere and from any device
Why Would Business Need Accounting Software ?
Key to success in any business is the management of accounts ie monitoring and managing income and expenses. It does not matter how well is teh business if there is no proper management of accounts , income and expenses then the business is doom to fail very soon.Any accountant know how to use a pencil and paper to manage accounts using the old school of debit/credit to each transaction , whether its an income or an expenses. Its the basic principle of accounting. While managing business accounts using pencil and paper isnt bad , there are few questions that one needs to address before taking any direction from the old school of a pencil and paper to manage accounts
Key Questions :
- Are you still using paper and pen to keep up with financial management ?
- How long does it take to compile a financial report /financial statement ?
- Do you know your numbers ? e.g assets , fixed assets , cash in hands , cash at bank
- How accurate are those manual reports ?
- How quick do you get information when needed?
- Do you have an accountant with proper skills on computerized accounting ?
- How detailed are those financial reports ?
- How honest and accurate are those information you are getting ?
- How quickly do you handle documents such as invoices, purchase orders and payroll?
Reviewing Ezy online accounting package
You can review the system by visiting here https://accounting.bosc.co.tz, and login using username : demo and password: demo. After you login click that demo company name ABC…. and there you are. Review all the system features by creating transactions as many as you can to see and test all features of the system including accouting , payroll management and inventory management.
The system is very flexible , easy to use and comprehensive featuring all standard reports which run by user variables to make very flexible and user friendly financial information. The system features the following features among many
General Ledger
Cash Management
Bank Reconciliation
Fixed Asset Management
Capital Accounts
Profit & Loss Statement
Expense Claims
Account Receivable
Account Payable
Estimates & Quotes
Purchase Orders
Billing & Invoicing
Credit Notes
Delivery Notes
Sales Orders
Stock & Inventory
Time & Service Billing
Billable Expense
Balance Sheet
Statement of Changes in Equity
Trial Balance
VAT, GST or Sales Tax
Multi-Currency
Custom Fields
Customizable Invoices
Chart of Accounts
Journal Entries
Aged Receivables
Aged Payables
Customer Statements
Remittance Advices
Comparative Reporting
Project-Based Accounting
Bank Statement Importing
Recurring Billing
Cash-Basis Accounting
Accrual-Basis Accounting
Departmental Accounting
Payroll Management
Manufacturing Management
Email Templates
Drill Down Reports
Why small businesses can not afford it ?
Its obvious that to have a clear visibility of the financial performance of any business , one needs proper tools to be able to get report and be instantly informed of the numbers that the business is giving , in income or expenses. It comes as a truth that many if not all business will need accounting software or accounting system to be able to manage and monitor financial performance of a business.
But the fact is , not all business have the ability to acquire or afford these accounting software since some of them will require huge initial cost of investment plus annual subscription fee for its license maintenance . This will put many small and medium business at disadvantage to adopt these financial accounting packages/system in their businesses , not because they don’t need it , but because they can’t afford it
- huge initial cost of investment , hence need long time for return on investment. Some of these software will be sold per user license basis , meaning the cost will keep going high as the number of users keep increasing
- per feature license - initial cost is sold per feature license means that the more features you ask the more you have to pay eg if I need both account payable and account receivable features i have to pay more than the one asking only for account payable or account receivable feature alone
- per user licensing : This means every time i want to add a new system user i have to purchase a separate license for that user. This means that the cost will get high as the number of user get increasing
- annual subscription fees: what is considered to be initial cost of investment in actually an annual license fee and not cost of ownership. The licensing maintenance fees has to be paid each year for a whole lifetime the client will be using the accounting package
why use online and not on-premise installation ?
Ezy accounting software offers affordable business accounting solution for small and medium businesses to manage their financial accounting information whle offering business owners and managers with an insight to monitor their businesses. Ezy accounting software is affordable , very flexible, comprehensive , easy to use and accomplishes almost all standard accounting practices that one need to manage and report financial accounting
Its affordable to many businesses because
- It's offered online , no need to worry about the cost of IT infrastructure e.g servers , routers , firewalls etc which otherwise would add huge cost to the initial cost of investment that many small and medium business could not afford
- Business would only pay small monthly service charges which is very affordable to small and medium businesses
- No per user license , it offers access to multiple users with no increase in prices /subscription charges
- No per feature license : it is offered with all full features at the same subscription rate per month
- It offers all standard financial reports so far needed by any business
- No annual subscription fee, the business keep using the system at the same rate throughout its lifetime
- No initial cost of investment . you only pay monthly services charges and after that no any other payment . This offers flexible plan for small and medium size business
- Most secure servers as all information is encripted and the servers are all protected using all standard measure for inernet security , no compromise
- Data is always safe and is confidential
- Offers a flexible working plan for small and medium business to manage and improve their financial accounting and hence efficiency and profitability
- Accessible from anywhere , an employee can use it from a tablet, laptop or desktop computer while at office , home or on travel.It doesn't matter where you are located or which device you have you can always work from anywhere , and this add effciency and productivity
