What is Integrated Accounting Busy Software ?

 

With an integrated accounting system, all accounting functions are integrated into a single application which is self-balancing. This means that there is no need to re-key data from one system to another, such as re-keying data from an order management system to a standalone accounting system. This eliminates the potential for human error. There is also no need to reconcile the various ledgers and functions, as they update automatically and in real-time.

As a result, the business receives accurate financial information much more quickly. This helps management make sound business decisions and course corrections instantly, based on timely, complete data.

Features of an Integrated Information System in ERP

Most systems will have core and non-core modules. The core modules include accounts receivable and accounts payable ledgers, general ledger, purchase order, stock inventory, billing and bookkeeping.

Non-core modules tend to be optional add-ons that you can purchase or develop, depending on the needs of your business. These include such features as electronic payment processing, debt collection, payroll, time sheet, departmental accounting, support for multi-currency or value-added taxation, and other things. Some fully integrated enterprise resource planning (ERP) systems will also hook your accounting and financial management modules up to an inventory management and customer relationship management system.