Cost is the amount of money that needs to be spent to make a product or service, both existing and in the planning process. It is important for you to ensure that your costs do not exceed a predetermined budget, this is to prevent your business finances from becoming unhealthy.
That’s why a good accounting software must have a good cost management feature to be able to categorize costs and track the total costs incurred for an item or service, this will make it easier for you to track the amount of unpaid costs.
The item inventory feature in the accounting application can be very useful to help you get direct stock quantities, because the inventory count data will be updated in real time. This will make it easier for you to know the average selling price of a product and know what stocks are empty.
In addition to data regarding the amount of stock of goods, this feature can also provide data on which products are the highest-selling, which will provide insight for your future business movements. Because of that, the inventory management feature is also one of the important features that must be owned by the accounting software that you use.
Financial Statement Management
Last but not least, the feature that accounting software must have is the financial statement management feature. This feature will help you measure the cash used and show how the cash has moved over a certain period of time, this will make it easier for you to see business cash flow more transparently and in detail so as to minimize the possibility of fraud in your business.
That way, you will more easily calculate business profits and losses, and all this you can do automatically because it is assisted by a system owned by the accounting software. Of course your job to make financial reports will be easier and more efficient.
Some of the features mentioned above can be very helpful in developing your MSME business, so before you have the accounting software which you will use, make sure you have these features. as one of the accounting software, Journal has been equipped with all of the features above. In addition, the Journal feature can also be adapted to your business, so there is no such thing as ‘unused features’.