Accounting Management:
Accounting management or Cost accounting is the internal process of analyzing the business cost and operation cost for achieving the business goals.
Financial Management:
Financial management refers to the management of the funds flow in the organization related to the financial assets and cash flow of an organization.
The main difference between accounting and financial management is prior internal process accounting for the business transaction and later is to create financial statements based on the accounting data collected.
With this little introduction, you will have an idea of what accounting and financial management is. In detail, we will discuss the benefits of accounting and financial management, how it plays a vital role in business growth, avoiding error, effective reporting in the aspect of cash and manufacturing process details, and data security.
1.Accounting & Financial Management Integration:
- Increase Profit margins
- Reduce expenses
- Improve savings
- Safe and optimized investment plans
- Increase Goodwill value
- Inventory management
- Payroll Management
- Bills payable and receivable management
This integration is done by the ERP system which saves cost, time and improves productivity and process.
2.Tracking & Managing Accounting & Financial Data:
Customer Relationship Management (CRM) in ERP system helps to send a reminder for the payables, effective customer inspections of purchases made, raw materials tracking, tracking profit and invoice, cost and budget analysis, further investment plan, the stock value of the business.
3.WorkFlow Automation:
Automation in the workflow helps with the productivity and integration of these two important things that can streamline account receivable and account payable management and cash management, easy tracking of the financial transaction in various departments, and save time. And remainder for the bill payments
4.Data Security & Management:
Data security is important in financial-related data as it is highly confidential and does not get in the wrong hands which will be a threat to the business growth. With the ERP software the access-based authorization can be given and multi-layer lever production password and end to end encryption. Duplication data entry can be avoided, data entered at one branch gets reflected in the system avoiding conflicts, fast and consistent, and avoiding error.
5. Financial and Accounting Control:
With the financial and accounting control even the bottom-line impact of events and decisions in real-time can be understood and analyzed. Build in and customized filters help in preparing the financial and accounting reports in different formats based on the need like tax, banks, shareholders, and others
This is accomplished with the advanced ERP (Enterprise Resource Planning) Software which becomes an inevitable part of the modern business and its growth. Tally is the best ERP software for the accounting and financial management of the business and its growth.
Contact us at the Axn Infotech Office nearest to you or submit a business inquiry online.
Tally customization
Axn Infotech Offers a wide range Tally customized Software Products for your business needs. Ranging from small vendors to multi-company industries tally suits perfectly.
read more
Authorized Tally Partner
Being the best Tally Authorized Partner, we help our customers to by understanding what their business needs, to grow better and stronger.
read more
Tally Education Partner
Axn infotech is an Authorized Tally Education Partner providing latest Tally Courses for various professionals. We provide 100% job Assistance.
read more
Tally Mobile App
To make important details accessible 24/7, Axn infotech introduces the AXN Tally Mobile App. We are constantly updating the mobile app features with every release.
read more