Accounting Management Software
Why are you dependent on Account Manager for the annual filing paperwork and submission?
Account Managers in any business are an integral part of any organization, responsible for managing relationships with clients and ensuring customer satisfaction. However, relying solely on account managers for annual paperwork and submission can be a risky strategy for the business.
For a very small transport business, you can surely depend on them as there are no other things to worry about. However, if you are a big business, there are a lot of things you need to worry about.
In the same way business account managers have multiple responsibilities, and for this reason, it takes more amount of time to get your work done.
Relying on them for annual paperwork and submission may result in delays and missed deadlines, which can lead to penalties and legal issues.
If you give all responsibilities such as annual paperwork and submission to account managers, you might want to keep in mind certain things. Account Managers are most effective when they focus on building and maintaining relationships with clients, which is their primary responsibility.
So, what’s the solution? Well, you can use transport management software to automate these things.
(a) Income Statement
The accounting management software can help the logistics and transporter to generate an income statement automatically, eliminating the need for manual calculations.
All you need to do is click on the generate input statement and you are done. You can easily input all your revenue and expenses into the system, and it will provide you with an accurate income statement, giving you a clear picture of your company’s financial performance.
Don’t worry if you are having multiple warehouses and branches. Bharat Software Solutions (BSS) The accounting management software can help you with a consolidated income statement that includes all of the branches and warehouses. This makes a lot of work easier.
The income statement that we generate for you is valid and accurate. As you have already entered all the information on the software and we just need to check the data, there are no chances of mistakes. Unless there is a mistake from your side during the input of data, there are no other inaccuracies you will face.
(b) Balance Sheet
The accounting management software can also help you generate a balance sheet that summarizes your company’s assets, liabilities, and equity.
Most of the data is already fetched from the finance module of our software. However, if there is more information that is needed, you can simply financial information into the system.
The best part is that the accounting software will automatically create a balance sheet, saving you valuable time and effort. Just select the financial year for which you want the data and you will get it. We work with the Indian markets.
So, you will get the balance sheet just like an Indian transport business will want.
Once the balance sheet is available, you can contact one of your accountants and work along with them. You can also provide access to our tool to your accountant and they will help you in generating the sheet. So, you can have peace of mind about the accuracy as well.
(c) Statement of Cash Flows
Worrying about generating a statement of cash flows. As a transport company in India, there will be many types of transactions you will do. You can input all your cash inflows and outflows, and the software will automatically generate a statement of cash flows, providing you with an overview of your company’s cash flow for a specific period.
If you don’t just want an overview and want in-depth details about the cash flow statement, you can generate the same using the account management tool. This is generally used if you are not sure about certain transactions you made.
The cash flow of a transport company can be tricky. As there are many ins and outs, you need a team who has experience working in the same field.
BSS has the same experience in the field. Therefore, you will get the best results here.
(d) Statement of Retained Earnings
Retained earnings are the portion of a company’s profits that are not distributed as dividends to shareholders but instead are kept by the company to reinvest in the business or pay off debt. If you are running a transport company, you should have these earnings as they have more debt.
If you want a quick statement of the retained earning, you can get it from the software. You can send the same report to your investors as well as use the same for accounting purposes.
Retained earnings are very much important and should be presented in the most accurate way possible. You can easily make the work easier by giving the details of the same. If you have entered the same on the software, you can get the retained earnings statement with ease. In this way, you can get the work started and make the accountant’s work a lot easier.
(e) Dedicated Account Management
You will still need a human being who can help you with all the stuff.
At BSS, we are always committed to making the software easy to use for every logistics and goods movement service provider. However, you will still need support. The problem with support is that they are not always aware of the account you are handling. Therefore, it will take some time for them to get the results.
Instead, your software comes with dedicated account management, which means that you will have a dedicated account manager who will assist you with any questions or issues that you may have. This ensures that you have a smooth experience and can make the most of our software.
The support manager or account manager is for you. So, they know about the details of your company. You can get the query solved in the least time possible here. Therefore, it’s always good to have an account manager who can do the work for you.
(f) Save Considerable Time and Effort
With the accounting management software, you can save a considerable amount of time and effort that would otherwise be spent on manual calculations and paperwork. This financial management automates most of the financial processes, providing you with accurate and up-to-date MIS report at your fingertips.
Till now, you have seen many ways a business accounting management software the account manager can help you with. What is the biggest benefit of all these things? Well, you can save a lot of time here. When you do all these things, you will save a lot of time. The main aim of Bharat Software Solutions is to help you by saving your time and increasing your revenue.
With amazing features on the app and highly talented customer support, you won’t face any issues in managing your transport software. As everything is automated, you will save a lot of effort as well. You can get more done in less time.
Final Thoughts
An accounting management software can generate and automate the preparation of financial statements such as the Income Statement, Balance Sheet, Statement of Cash Flows, and Statement of Retained Earnings, which can save businesses considerable time and effort.
Additionally, the best thing you will get here is dedicated account management, enabling businesses to manage their finances more effectively and efficiently. The manager can communicate in Indian regional languages as well. So, you can always ask them questions in your preferred language.
With these features and amazing support by Bharat Software Solutions, businesses can improve their financial reporting, reduce errors and inconsistencies, and focus on their core operations, resulting in increased productivity and profitability.
Rishit Bhatt is a content strategist and a professional writer with a keen interest in technology and tech-enabled businesses. He aims to help businesses integrate tech into their on-premises infrastructure with technical documentation and helpful articles.