Accounting software trading is the solution that helps commercial enterprises to manage the entire accounting profession arising from purchasing – sales – liabilities – inventory – sales – costs on a unified system. In the context of business must handle the large volume of transactions and diverse items and requires strict compliance with prescribed accounting – tax code, the application software and accounting professionals for industry, trading not only helps to reduce errors, but also enhance effective decision-making, financial management.
This article Lac Viet will help businesses understand the true essence accounting software for commercial enterprise, the core features, the actual benefit, selection criteria, hints, solutions appropriate to each scale.
1. Business industry trade are experiencing the problem?
Difficult to control inventory, cost of goods sold
With business, commercial, cargo is the biggest asset. However, when inventory management in Excel or software tools, discrete, accounting frequently encountered condition data inventory on the books don't match with reality. Cost of goods sold is false, leading to reported interest – hole not properly reflect the business performance. This makes leadership difficult decisions about price, promotion policy or plan import.
Liabilities do not match between the accounting and business department
A common problem, the other is the debt customer and supplier inconsistency. Business department monitor the debt under the contract or order, while accounting recorded by the bills and vouchers. When there is no management system focus, the control takes more time to develop a domestic quarrel.
Financial reporting slow, data inconsistencies
Many businesses only report relatively accurate when the “latch window end of the month” or even last quarter. This makes leaders were not aware of the financial situation in a timely manner to adjust the business plan. According to a survey by PwC about effective finance department, the business hasn application of digital technology often takes more time to aggregate and analyze data than enterprise has deployed software management accounting focus.
Much depends on the individual accounting
When the entire data is located in file personal or depends on the experience of an accountant long years, the enterprise faced with major risks when personnel change. The handover of work, loss of time, data, easy to disruption, affecting the general operation.
2. Overview of accounting software trading
2.1 accounting software what is a commercial?
Accounting software trading is tool support business recorded, processed and sum up the whole of the accounting profession incurred in the purchase and sale of goods. Instead of accounting to track tools, books or Excel file discrete software helps data such as purchase, sales, inventory, liabilities, revenue, costs are managed centrally on a single system.
Can visualize simple:
- When businesses purchase, the software automatically records the value of goods for warehousing, accounts payable supplier.
- When sales system at the same time recognize revenue, price of capital, public debt customers.
- End of the period, this data is aggregated available to financial reporting, tax reporting.
Difference of accounting software trade than accounting software for business of manufacturing or service is at the heart business. Commercial business, don't focus on the production process or cost and complexity, which mainly revolves around goods – inventory – purchasing – public debt. So, accounting software commercial is designed to handle fast accurate transaction volume, large variety of items.
2.2 peculiarities of accounting in commercial enterprises
From the practical perspective of accounting, commercial enterprise usually meet the peculiarities follows:
- Firstly, the volume of stock from buy – sell and arise constantly: Just a business-distribution of consumer goods or equipment, per day can be incurred hundreds of bills purchased on sale. If handled, the risk of errors or delay is very high.
- Monday, multiple items, multiple warehouses, multiple unit: An item can be import – export in many different repositories, with different calculation units (barrels, boxes, so...). Keeping track of inventory, price on capital precision in Excel increasingly difficult when the scale businesses to expand.
- Tuesday, creditors, customers and suppliers complicated: commercial Business often sold on credit, payments by states. If not well controlled, debts and prone to too-term, directly affect cash flow.
- Fourth, the pressure for control data fast accurate: the End of the month, accounting not only need the right material, but also to have timely data to the leader board informed business decisions.
The peculiarities of this makes the management accounting methods or tools not specifically become less effective potential risks.
2.3 why commercial business need accounting software specialized?
Reduced risk of errors depends on the person
According to the report of Deloitte about automation in the field of finance and accounting, the business application software and automation can significantly reduce input errors, errors in processing and accounting in comparison with the manual method.
In fact, only a minor deviations in the price of capital or the debt may also cause the financial statements is not accurate, affect the decision of management.
Advanced management capabilities, cash flow, profit
Accounting software trade allows businesses to track sales, costs, profits according to each item, each customer or each sales channel. This is an important basis for enterprises to adjust the list price, discount, business strategy.
Save time, operating costs, accounting
According to research by World Economic Forum on the transformation of business, the digitization and application management software to help the finance department accounting save significant processing time business from that focus more on task analysis, consulting for leaders.
Ensure compliance with accounting regulations and tax
The software is often updated according to accounting standards and provisions current tax help businesses limit the risk of errors when making financial reports, tax reports, work with agency management.
In summary, with particular transactions, complex data requires admin increasingly high, accounting software trade not only is support tool records, which is the platform that helps commercial enterprise control over financial transparency, efficiency more sustainable in the long term.
3. The core features of accounting software trading
3.1 purchase order Management, accounts payable
In business trade, purchasing not only is bill note input, but also directly related to cash flow business plan. The software allows you to follow the whole process from purchase, enter the warehouse to the payment to the supplier.
Instead of accounting to check manually each invoice, the system helps to manage public debt according to each vendor, each payment period. Thanks to that, the business to be more active in the planned payments, avoid penalties due to late payment or miss an early payment discount.
Actual value, bring that good control of cash flow, output, reduce financial pressure to raise reputation with suppliers.
3.2 Management, sales receivables
For commercial business, a sale isn't the end of the transaction, which is more important than the money is collected by the deadline. Accounting software trading revenue recognition according to each invoice to each customer automatically track receivables.
The system can alert the debt due, or overdue, help accounting and business department coordination handled promptly. The data connection sales with accounting also helps avoid the turnover recorded in one place, liabilities follow a path.
The greatest benefit is to reduce the risks of bad debts and improve your cash flow, vital factor with commercial enterprises.
3.3 inventory Management, the price of capital
Inventory management and the price of capital is a difficult problem with many commercial enterprises. Accounting software trading allows to track inventory by multiple warehouse, many items automatic calculation of the price of capital according to the common methods, such as the average or first in – first out.
Thanks to data updated in real time, accounting and management can know the exact amount of inventory value, inventory, cost of goods sold at each point of time. This helps business restrictions, shortage of goods, inventory virtual or mispriced business performance.
3.3 accounting and financial reporting
A point value system of commercial accounting is the ability to automatically accounted for by the business incurred. Upon purchase, sale or payment, the system automatically recorded accounting accounting fit, help to significantly reduce the volume of manual work.
End of the period, the accountant can prepare financial reports, tax reports quickly with the data consistency between the books. This not only saves time but also increase the reliability of the report when working with leaders, partners or management agency.
Core value here is to help the accounting department moved from the “do the books” to role analysis and financial advisory support business decisions better.
4. Selection criteria accounting software trade accordingly
Choosing accounting software trade should not be derived from the number of features or the price of advertising, which is based on the extent consistent with the actual operation and development orientation of the enterprise. Here are the important criteria that businesses should consider.
4.1 in accordance with the characteristics of professional trading
Peculiarities core of commercial enterprises, located in purchase – sale of goods, inventory management, and public debt. So the software should be designed around this, instead of focusing on the production process or price of the complex, such as in manufacturing enterprises.
In accounting, a suitable software should help:
- Track throughout the buying process from entering the warehouse to the payment provider
- Recorded sales associated with revenue, price, capital, liabilities customer
- Manage inventory accurately according to each item in each warehouse, limited discrepancy in the data
For example, with business many items and more inventory, if the software does not support track inventory in detail or price auto capitalization, accounting will have to be handled outside. Meanwhile, the software almost does not solve the “pain” the largest of the business.
4.2 Easy to use, easy to deploy
A common mistake is to choose the software “very strong” but too complex compared to the capacity use of the accounting team. In fact, the majority of business accounting, not technology experts, which need a tool easy to understand, easy to manipulate and less dependent on IT.
Accounting software trade accordingly should have:
- Clear interface, close to the thinking accounting
- Process data entry simple, limited manipulation repeat
- Deployment time is short, do not interrupt business operations
From experience, practical implementation, software more difficult to use then the rate of extraction efficiency as low as. Many businesses invest in software, but after some time back to Excel because personnel do not keep up the system.
4.3 scalable, integrated in development roadmap
Accounting software should not only meet current needs, which need to be aligned with development plans in the next 3-5 years of business. When expanding business scale, increase the number of branches, warehouses or sales channel, the accounting system should be flexible enough to meet.
A accounting software trade is likely to extend well often:
- Connect to system sales, inventory management, hr
- Enables the right to branches and departments
- Upgrades can add features as your business grows
For example, when a business starts selling, multi-channel if accounting software, no connection is sales data, accounting will have to enter the data again, increases the risk of errors and loss of time.
In summary, the choice of accounting software is suitable for commercial enterprise not only is choosing a tool of recording data, but also is to choose the platform to support financial management for the entire enterprise. Appropriate professional, easy to use, has the ability to expand is three key elements, effective decisions to invest in the long term.
5. AccNet ERP – software Solution for business accounting industry trade
Can see that the business sector of trade is not just a software to record books, which needed a system flexible enough to manage at the same time purchase – sale of goods, inventory, liabilities, cash flow, in the context of trading volume volatility constant.
AccNet ERP developed in that direction – a software solution for management accounting overall, fully meet the peculiarities of business and trade. Instead of handling discrete data on many different instruments, AccNet ERP helps businesses manage the entire focus of the data, accounting, purchasing, sales and inventory on a unified platform ensures data throughout consistently.
Points value of AccNet ERP for commercial enterprises, located in ability to keep abreast of the actual operation. The system allows detailed tracking of goods in many warehouse, many items, automatic recognition of revenue, the price of capital and public debt as soon as transaction. Thanks to that, accounting not only reduce the pressure input crafts that leaders can also capture fast financial situation, inventory, business efficiency, to a timely decision.
ACCOUNTING SOLUTIONS ACCNET ERP INTEGRATED AI AUTOMATE ALL BUSINESS
AccNet ERP is a software solution financial accounting integrated in the management system, comprehensive enterprise, which is developed by Lac Viet corporation. Difference highlights of AccNet ERP is the app artificial intelligence (AI) in many accounting process to help businesses:
- Automation of accounting and classified documents.
- Improving the accuracy in data control.
- Shorten processing time business accounting – financial.
Thanks to that, AccNet ERP not only is support tool but also a “smart assistant” with the business in financial management transparent effect.
Feature highlights:
✔️ Automatic accounting vouchers, collate public debt thanks to AI.
✔️ Manage your finance – accounting multi-branch, multi-subsidiary.
✔️ Financial statements consolidated standards of Vietnam & international (VAS, IFRS).
✔️ Cash flow management, budgeting, forecasting the exact cost.
✔️ Connect with the manure management system, hr, production, sales to sync data.
✔️ Integration of AI in data analysis, risk warning and proposed optimal scheme.
TYPICAL CUSTOMERS ARE DEPLOYING ACCNET ERP
- Nitto Denko – control production costs thanks to the application of accounting costing: Nitto Denko has chosen solution AccNet ERP to deploy the system accounting calculating cost ofhelp business control costs more effectively in the production process. After a period of use, company, highly effective, practical system that brings, as well as the degree of stability superior to other software in the market.
- ANTESCO – restructuring process works with management accounting operation: At ANTESCO, our team of consultants and deployment of AccNetERP has collaborated closely with the business in the first phase, reset the standard process and construction work-flow related departments throughout. The solution has helped ANTESCO significantly improve management capabilities, operating in a synchronized way and versatile
- Khatoco – expansion pack solution AccNetC after the successful implementation of original: Lac Viet has successfully deployed package solution AccNetC for trade co., LTD Khatoco in Nha Trang, according to the agreement signed on 29/07/2014. After the system is first put into operation efficiency, Khatoco intends to continue cooperation and expand the distribution finance – accounting and retail management with AccNetC, expressing the deep trust in implementation capacity and quality of service from Lac Viet.
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INTEGRATED AI ACCELERATION CONVERTER OF ACCOUNTING
AI in AccNet ERP't just stop at automate data entry, but also:
- Identification & classification certificate from smart: AI scan, read & sort invoice, voucher, receipt, limit errors due to input manually.
- Financial forecasting & budget: the system uses algorithms machine learning to forecast cost, revenue, business support decision fast.
- Warning risk accounting: AI to detect abnormalities in the book, from which timely warning of false or fraud risks.
- Reports assistant smart: AI suggested report template, automatic data aggregation support, leadership, financial analysis instant.
BUSINESS IS WHAT WHEN IMPLEMENTING ACCOUNTING SOFTWARE LAC VIET?
- Experience more than 30 years develop software solutions business management in Vietnam.
- Ecosystem of comprehensive: AccNet ERP easily connect with other solutions of Lac Viet (HRM, Workflow, Portal...).
- Advanced technology: Integrated AI support, cloud & on-premise flexible.
- Services dedicated support: A team of knowledgeable professionals with accounting – finance in Vietnam, companion throughout the deployment.
- Trust from thousands of customers in many areas: finance, banking, manufacturing, trade, services.
See details, feature & get FREE Demo
CONTACT INFORMATION:
- Hotline: 0901 555 063
- Email: accnet@lacviet.com.vn | Website: https://accnet.vn/
- Office address: 23 Nguyen Thi Huynh, Phu Nhuan, ho chi minh CITY.CITY
With the ability to customize according to the scale and operating model, AccNet ERP in accordance with the commercial business medium and large are looking for a software solution, accounting for commercial and in-depth business support, financial management, it is sustainable in the long term.
