Trade takes place with the exchange of products. It may be online or in a traditional form but one is much focused on managing multiple products. This management of products is said to be inventory management.
What if you get a system that can professionally manage your inventory and keep track of its purchase and sales. This accounting system is designed to help you manage your inventory of what got in and out.
Whatever product you are manufacturing you keep in contact with many suppliers who provide you supplies or material. It is necessary to record your dealings with suppliers in terms of both material and money.
Our accounting software functionally manages all the suppliers you are dealing with. You may input all the data of your suppliers individually and check their current status by applying the given filters in the system.
Your customers are the backbone of your company’s strength and how to smartly manage them is basically an art. The saved data of your customers helps you to make core decisions about business and marketing.
It is now easy to record your customers, their preferences and trends through our accounting software. You can keep a record of your customers’ actions that what they usually buy so you can re-target them accordingly.
Stock transfer is basically a branch accounting management concept where the head office purchases and sends raw or finished goods to its branch or branches.
As the transactions between head office and branches require complex accounting, Webnet Accounting Software serves this requirement and plays an effective role in managing and maintaining their accounts.
In connection with products, the prices need to be effectively managed because buying and selling of products are recorded through their variety of prices like cost price and selling price.
Through this accounting software, you can easily manage the pricing of your variety of products. The system reads the product pricing and makes calculations accordingly and accurately.
This accounting software maintains a comprehensive chart of accounts spanning assets, liabilities, expenses, revenues and equities. It also maintains proper statements like profit and loss statements, statements of financial position, statements of cash flows, etc. It creates ease for the user who can quickly overview what’s going on and can mould his decision of what to do next.
In the statement of profit or loss, all the income and expenses are accurately recorded in our online accounting system. It covers up total net sales, net operating income, interest income and all the flows coming in and then the income is adjusted by all the expenses which a company does over a period of time. It deduces tax and shows a net earning which is finally proceeded to the balance sheet.
This accounting software records all the assets and liabilities and prepares a proper statement of financial position. This statement shows the financial status of the company in one go. It helps to analyze and forecast the trends that how progressive the company can perform in coming years.
Finance is the lifeblood for every company, it’s recording is mandatory in all respects for the good growth of the company and its finances. All the sales and purchases are recorded in our software to check the actual “cash flows” of the company and to set the companies’ financial statements.
Whatever you purchase from your vendors can be in cash or credit, these transactions need to be recorded, considering other expenses as well, to take out the actual cost of the product. You may easily record these transactions through this software no matter how many vendors you have. It notifies you about the payable status so your flow works timely.
Recording of sales is necessary to calculate the profit. This accounting software allows you to manage your sales accurately by inputting all the customer data. It also records and notifies about your receivables and reduces the possibility of missing bed debts collection. Your company’s strength is based on the good frequency of sales so it must be properly recorded.
The core factor of any software is reporting that gives a complete overview of what is done in a selected period of time. Similarly, this accounting software also generates reports of all the accounts like Accounts ledgers, Profit and Loss report, Purchase and Sales report, Tax report, Suppliers and Customers report, Stocks and Stock Adjustments report, Trending products report, Product Purchase and Sales report, Purchase and Sale Payment report, customer Outstanding report, Collection report, etc.
It is the management handling part of this accounting software where the admin sets basics like company name, email address, currency, financial month, default profit percent. It is also the main hub for linking all the accounts like Equity, Assets, Liabilities, Expenses, Revenues, Customers, Suppliers, Customer Advance, Bank cash, profit and loss account, sales (local and Export sales), Purchases (Local and Export Purchases), etc.
In this accounting software, you can set multiple tax rates like Sales Tax, Value Added Tax (VAT), Central Goods and Services Tax (CGST), State Goods and Services Tax (SGST), etc. You can also create combinations of multiple taxes using this software. It makes the taxation process simple.