{"id":31761,"date":"2017-05-18T14:00:51","date_gmt":"2017-05-18T06:00:51","guid":{"rendered":"https:\/\/zahiraccounting.com\/en-my\/?p=31761"},"modified":"2017-05-18T13:36:27","modified_gmt":"2017-05-18T05:36:27","slug":"creating-a-financial-statement-with-accounting-software","status":"publish","type":"post","link":"https:\/\/zahiraccounting.com\/en-my\/31761-creating-a-financial-statement-with-accounting-software.html","title":{"rendered":"Creating A Financial Statement With Accounting Software"},"content":{"rendered":"

\"Creating<\/a><\/p>\n

Financial statement is required to provide the detailed insight for decision making and external reporting requirement. This encourages the business owner to make report faster and easier. Most businesses still make it manually. Mostly, the manual process is time-consuming and error may occur.<\/p>\n

These risks make the business owner start using a tool to prepare the report. the software that process reporting able to make detail financial analogy, speed up the process, reduce errors, and time. The most critical point to consider in the software application is having detail information of the software should do for the company.<\/p>\n

Accounting software application will simplify the financial report making. These are the steps preparing the financial statement by using accounting software.<\/p>\n

    \n
  1. Create new data<\/li>\n<\/ol>\n

    The first step is creating new data where users enter company information, accounting period, business type, chart of account, and set currency.<\/p>\n

      \n
    1. Enter data master<\/li>\n<\/ol>\n

      Users are required to enter name and address data, COA adjustment, item data, etc.<\/p>\n

        \n
      1. Enter beginning balance<\/li>\n<\/ol>\n

        The established company before implementing an integrated accounting is required to enter the beginning balance, payable-receivable, and inventory.<\/p>\n

          \n
        1. Enter transaction<\/li>\n<\/ol>\n

          Separate the transaction notes into its category, such as payment into general transaction etc. In the integrated accounting system, general ledger is attached in the specific module, such as in General Ledger module. Select the proper account in debit and credit, enter the value, then save. The entered transaction are automatically posted in the general ledger.<\/p>\n

          Sales record is also available in the specific module with complete features, such as inventory, quotation, sales order, delivery, invoicing, return, payable receivable payment, etc.<\/p>\n

          Inventory module with item adjustment, assembly, disassembly, inventory movement, consignment, etc enable users to make inventory adjustment or stock opname.<\/p>\n

          Cash transfer record, purchase of fixed asset, etc are recorded in Cash & Bank module.<\/p>\n

            \n
          1. Data review<\/li>\n<\/ol>\n

            Review the entered data through Tools menu to check the ending balance, inventory balance, unbalance journal, etc.<\/p>\n

              \n
            1. Entries closing<\/li>\n<\/ol>\n

              Most accounting software is equipped with monthly and annual closing entry. Preparing entries closing, depreciation, etc will no longer manual.<\/p>\n

                \n
              1. Automatic Financial report<\/li>\n<\/ol>\n

                Press Posting button in each transaction, then it will be automatically posted in general ledger. Subsidiary ledger, financial statement , and the supporting report is made automatically.<\/p>\n

                The advanced technology allows the business owner to do the accounting tasks faster and more accurate. The financial report serves the detail information for precise decision making. An integrated accounting system is the best solution for business.<\/p>\n","protected":false},"excerpt":{"rendered":"

                Financial statement is required to provide the detailed insight for decision making and external reporting requirement. This encourages the business […]<\/p>\n","protected":false},"author":11,"featured_media":31800,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[35,8],"tags":[40,41,64,63],"yoast_head":"\nCreating A Financial Statement With Accounting Software<\/title>\n<meta name=\"description\" content=\"Financial statement are required to provide the detailed insight for decision making & external reporting requirement.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/zahiraccounting.com\/en-my\/31761-creating-a-financial-statement-with-accounting-software.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Creating A Financial Statement With Accounting Software\" \/>\n<meta property=\"og:description\" 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