A client “write-up” is the terminology accountants use to describe the preparation of a “compiled” financial statement. Compiled means that the financial statements have not been audited or reviewed yet. However it is not helpful to give clients updated and accurate financial statements six months after the fact. Write-up software has also evolved and allows clients to know accurately where they are financially today and what needs to stay the same and what needs to change to ensure their business success.
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Key Features of Write Up Accounting Software
Reporting and analysis: Information is power in today's challenging business environment. That's why any accounting program you evaluate must have robust reporting and analysis capabilities. Besides helping users gain insight into crucial financial activities, reporting and analysis functions help companies conform to government and industry regulations.
Graphics: Accounting is a numbers-focused activity. Graphics, in the form of charts and other illustrative formats, is a powerful tool that can be used to present trends and other concepts in a way that numbers alone can't convey.
Automation: For many businesses, support for simple accounting transactions and basic financial management tasks just isn't enough. Many companies require the full automation of employee expenses, payrolls and time sheets; company and departmental budgets; purchase requisitions and other complex financial activities.
Customization: Chances are that no accounting software will exactly match your business's needs. That's why you'll want to look for a product that allows the easy customisation of statements, forms, reports and screens.
Connectivity: With the whole world moving to the Internet, it's only logical that accounting software should follow the crowd. That's why you'll want to make sure that any accounting software you consider has the ability to send and receive digital documents and handle electronic fund transfers.
Scalability: Look for a product that accommodates, or can be easily upgraded to accommodate, a progressively larger number of users and a growing amount of financial data and transactions. Ask vendors about their programs' limits in these areas.
Expandability: Your business may grow in scope as well as size. The accounting program vendor should either offer add-on modules that allow customers to slap extra capabilities to its product, or a migration path to a full ERP environment.
Security: When dealing with client financials, security is key. More and more companies are looking to understand the precautions you are taking to ensure their data remains secure. Client write-up software packages include sophisticated multi-level security with password protection and role-based access.
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