Open Accounts' Accounts Management Software For Small & Medium-Sized Businesses (P-0515) (MFN 2798)

Abstract

This product is basically audit and monitors the company financial data. This software helps the organization in different ways e.g. in sales invoice, in purchase invoice, in debit memo, in credit memo, in Administration etc. This software records each of these activities. This software identifies all of the above activities by using three components 1. Business documents are used to record the occurrences the business activities. For example, when a credit sale is made, a document called the sales invoice is created to record the sale. 2. For any business activity that involves a change in the financial position of a business, a transaction record captures the changes. For example, when a credit sale is made, changes to the customer accounts, the sales account, the sales tax account, the inventory account and the cost of goods sold account are captured in a transaction record. 3. Accounts are the records that keep track of the accumulated effects of all the transactions have on the financial positions of a business.