ERP for Accounting
When implemented intelligently and cost effectively, ERP (Enterprise Resource Planning) and Microsoft Business Central can provide big opportunities for small business.
What is ERP for Accounting?
ERP allows business’ to streamline their data in a centralized location that is accessible to all divisions of a business. ERP has very powerful tracking capabilities that are very beneficial for accounting, saving your business time and money. This ability allows ERP to oversee billing, payments, and revenue with ease. ERP software automatically transfers data onto its database. Without ERP, data would need to be manually transferred over to a separate database, which takes a lot more time and is less accurate and consistent.
What are examples of ERP For Accounting?
ERP helps the accounting process by managing sales, inventory, purchases, revenue, costs of production, invoicing, taxes, and many more.
Why Your Business Needs ERP For Accounting
ERP makes the accounting process much simpler because of its automated transfer of data. Since ERP is centralized, an Accounting department or firm will have all the data of the business accessible in a single database. ERP simplifies the data transfer of accounts receivables, accounts payable, and cash flow from operations. ERP also has different modules that allow the data transfer to be in many different accounting standards. The software can create a general ledger that is GAAP approved for your accounting needs using your stored business’ data, saving you time and money.
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