SQL Accounting is the foundation of any successful ERP (Enterprise Resource Planning) implementation. With accurate financial reports, businesses can understand who buys what, when and how much and more importantly, how to improve efficiency. SQL accounting is a powerful tool that many companies can use to improve their efficiency. Businesses that rely on SQL databases for secure, flexible, and convenient interactions with customers, vendors, and other internal resources will reap the benefits of the SQL in accounting feature. The following benefits of using an accounting program like SQL accounting are just a few of the reasons why organizations choose this type of database for their ERP system. Find out more about SQL accounting.
Real time reporting This is one of the primary reasons why SQL accounting software is such a popular choice among business houses. Real-time reporting allows you to track sales, inventory, personnel movement, and other information at any given moment. This makes it easier for businesses to get things done faster. Streaming data also reduces network transaction drops that could impact your bottom line. Integrated Open Source solutions and real-time reporting allow you to store virtually unlimited years worth of historical data. This will help with better decision making. All SQL-based solutions include data mining, which allows you to extract the information needed for analysis.
Improved inventory management The ability to track and monitor inventory levels is another advantage of using an accounting program like SQL accounting. You can prepare reports and use other functions like sales order tracking to view the supply on hand and to track the status of pending orders. Flexibility in the data model and reporting abilities will allow you to manage your inventory more accurately and at a lower cost. The ability to integrate your software with other systems also provides greater compatibility and portability. You can access your reports on multiple computers if you have the data properly archived.
General ledger It is one of the primary financial documents in your company. This document contains all transactions that your company made during the past year. The General Ledger includes information about your company’s accounts payable, receivables, gross income and loss as well as inventory balances. It is used to calculate the company’s net worth, or cash on hand. General ledger software enables you to make direct access to the data in the General Ledger by using Data Mart modules, or install your own third-party accounting application that has SQL database support. For more convenience, there are various modules that you can use in SQL accounting software that allow users to create reports and to make general ledger transactions.
Advanced Features Real-time posting – This feature makes it possible to post orders to your customers without waiting for the next day. Your bank accounts are instantly credited with any incoming payments. Posting can be either through internet banking or through mobile devices. You can easily integrate these features with the rest of the sql accounting core modules for an incredible experience.
Small and medium-sized companies need to manage inventory. This feature makes it easier to track inventory and products as they pass through the sales floor. Inventory management allows you to have complete control of your stock including broken stock, excess and quantity, as well as sales floor stock. With real time posting, you can easily track your sales floor stock levels and make necessary adjustments to optimize your inventory management processes. The advanced inventory management features also enable you to enter order information and make sales and returns, quickly and easily.
Module Sales – This module allows you to easily calculate the price of your products when they are purchased and sold by customers. You can enter sales amount, date of purchase, and price history to determine price history. This function will allow you to give accurate and near-real time quotations. This function is great for businesses that sell products online or receive multiple orders from customers.
Invoice module – If you want to view your invoice history, then the Invoice module in your sql database management can help you. You can create custom views for each product/ item that you have in inventory management. This feature can help you view bill summary, quantity, date of invoice, and many other related information that pertains to your invoices. The Invoice module in your sql server is a valuable tool for your company’s invoicing needs.