Category: Accounting

UBS Accounting in Malaysia is one of the biggest Accounting Software firms throughout south east Asia, suitable for any small and medium size industries, but for medium size company, there are few alternatives that works better! Compare to UBS Accounting, alternative accounting such as MYOB Accounting and Mr. Accounting seems to enjoy more user friendly experience.

However, all the above mention software is not suitable for company with the development team, because the source code based accounting software will be a better choice. 5 Reasons to choose source code based accounting:

Reason #1 – Save tons of client licenses.
Source code based accounting always comes with royalty free and re-brand-able rights, so the company can expand as many clients as they like without further paying any license fees.

Reason #2 – Business process highly automated.
With developer that able to modify the source code, they can basically design, modify and integrate the software to the company advantages. The power of customize software allowed highly automation between the different sub system, such as human resources, inventory, point of sales, warehouse and e-commerce. All data can be passed between the systems without human intervention, provide highest automation possible and better security control.

Reason #3 – Faster integration.
For general integration, this can happen in as fast as 24 hours through Stored procedure user interface! There is no need to export and import data between systems, all sub systems can pass data easily through stored procedure.

Reason #4 – SQL database power.
While another accounting system still using dbf files as storage, the source code based accounting mostly support SQL database, this give the company highest scalability and powerful integration convenient. For medium size company, the database can store life time data, up to terabytes of financial data without clearing!

Reason #5 – High expandability.
Developer can prepare any reporting requested by the company without limitation, they do not need to rely on vendor to customize the reporting for them. Report is a very critical component to management decision support.

Unless your company has a good in-house development team, you won’t be able to enjoy source code based accounting benefits, at most it is just another alternative accounting software to UBS Accounting!

Copyright 2008 – Cynics Software. Feel free to distribute this article, along with the resources box in place without modification.

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The Payroll Accounting Management Software helps in your management needs relating to PF, EPF, FPF and ESI, etc. it helps you to use your skills in accounting software in a more efficient manner. All your problems are solved just with a click of a mouse; the self explanatory program helps you to use the software easily. The software is developed with the needs and requirements of the clients, and it has been programmed in accordance with the rules and regulations stated in Employee’s Provident Fund Provision Act, Employee Pension Scheme and Employee Provident Act.

The Payroll Accounting Management Software helps you to maintain all your office accounts easily and gets updated automatically without any office staff doing it; this will reduce your expense you can log on scripts-to-sell The Payroll Management Software helps you to add any number of staff at any time of the year; it updates to new additions automatically and calculates salary once the data is entered. This software has the capability of handling multiple companies at a time and by providing multiple financial years. The software has the capability of traversing through any financial years, the accounting software helps in easy calculation of PF fund of employees, and it also automatically files PF return and also does ESI calculation for the employees. The care has been taken to develop the software as per government rules and acts set as per in accordance with employees act, the software also calculates bonus for the old employees.

You can rely on Payroll Accounting Management Software for any of your accounting needs, its 100% safe to use and there is no chance that your data being hacked as the software has great security features like it has password facility that will ensure the validity of the user who is using it, each of the data access can be done by individual user defined data access, the accounting software also uses Intelligent validation for each entry, it also provides data secrecy feature in the Management software.

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The Payroll accounting Management software is a versatile, one of its king software enabling you to manage employees payroll quickly without a doubt of a mistake, it is capable of generating all types of reports relating to outputs of the company and statutory reports needed by each department. The payroll accounting software is flexible and can be used as per the user preferences you can define various allowances, deductions if any, leave rules, etc.

The Payroll accounting Management software is a versatile, one of its king software enabling you to manage employees payroll quickly without a doubt of a mistake, it is capable of generating all types of reports relating to outputs of the company and statutory reports needed by each department. The payroll accounting software is flexible and can be used as per the user preferences you can define various allowances, deductions if any, leave rules, etc.

Managers want to earn a profit. Investors search for companies whose stock prices will increase. Banks seek borrowers who’ll pay their debts. Accounting provides the information these people use for decision making. Accounting can be based on either the

Accrual accounting records the impact of a business transaction as it occurs. When the business performs a service, makes a sale, or incurs an expense, the accountant records the transaction even if it receives or pays no cash.

Cash-basis accounting records only cash transactions cash receipts and cash payments. Cash receipts are treated as revenues, and cash payments are handled as expenses. Generally accepted accounting principles (GAAP) require accrual accounting. The business records revenues as the revenues are earned and expenses as the expenses are incurred not necessarily when cash changes hands. Consider a sale on account. Which transaction increases your wealth making an $800 sale on account, or collecting the $800 cash? Making the sale increases your wealth by $300 because you gave up inventory that cost you $500 and you got a receivable worth $800. Collecting cash later merely swaps your $800 receivable for $800 cash no gain on this transaction. Making the sale not collecting the cash increases your wealth.

The basic defect of cash-basis accounting is that the cash basis ignores important information. That makes the financial statements incomplete. The result People using the statements make decisions based on incomplete information, which can lead to mistakes. Suppose your business makes a sale on account. The cash basis does not record the sale because you received no cash. You may be thinking, let’s wait until we collect cash and then record the sale. After all, we pay the bills with cash, so ignore transactions that don’t affect cash. What’s wrong with this argument? There are two defects one on the balance sheet and the other on the income statement.

Balance Sheet Defect If we fail to record a sale on account, the balance sheet reports no account receivable. Why is this so bad? The receivable represents a claim to receive cash in the future, which is a real asset, and it should appear on the balance sheet. Without this information, assets are understated on the balance sheet. Income Statement Defect a sale on account provides revenue that increases the company’s wealth. Ignoring the sale understates revenue and net income on the income statement. The take-away lessons from this discussion are as follows:

Companies that use the cash basis of accounting do not follow GAAP. Their financial statements omit important information. All but the smallest businesses use the accrual basis of accounting.

Accrual accounting is more complex and, in terms of the Conceptual Foundations of Accounting, is a more faithful representation of economic reality than Cash-basis accounting.

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