Following this article for a better understanding of ERP accounting software. In this article, Viindoo will provide you with a comparison between ERP accounting software and usual accounting software. In particular, Viindoo Enterprise management software also introduces to you the best ERP accounting software available nowadays.
What is ERP accounting software?
ERP accounting software is an application that supports the financial management of businesses. This is also considered a crucial part of business management solutions because accounting has a close-knit relationship with all other functions in the business.
ERP accounting software
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Difference between ERP accounting software and ordinary accounting software
The following table summarizes the differences between conventional accounting software and ERP accounting management software:
ERP accounting software
Conventional accounting software
Each operation in the production and business process is recorded via a transaction on the system.
The ERP system defines linked accounts with the entry of compatible transactions, so users can be assured of their consistency.
Professional operations in the production process are recorded with many limitations, not achieving high consistency.
Setting up intermediary accounts
Transactions in intermediate accounts will not affect the annual financial statements of the enterprise.
Accounting balance is not guaranteed like ERP accounting softwares
Automatically recording transaction
Support to record entries manually or automatically.
The software allows multi-tier control and a more transparent approval process
The software compiles general accounting vouchers to make direct entries.
In ERP accounting software, users are not allowed to delete any existing entries. Therefore, all accounting data is more reliable.
The accounting data of conventional accounting software is not guaranteed high reliability because there is no feature of “reverse transaction”.
Finalization of accounts
The system is designed as a complete system and no stage or process should be interrupted.
However, for the intervention needed for some processes, it is required to create binding objects or rules that the user must follow.
The process of finalization of accounts in conventional accounting software is not well optimized compared with ERP accounting software
Account structures and account categories
Accountants can build a system of accounts with diverse additional legal information according to the Ministry of Finance.
Besides, it is also possible to add different account categories for multi-dimensional analytics.
Users can not flexibly build systems of accounts
Consolidated financial statements
The ERP accounting system allows the consolidation of reports and data from member units and branches. Therefore, management becomes extremely easy and convenient.
Consolidating reports in conventional accounting software is difficult and unproductive.
A realistic picture of business operations
ERP accounting software will give users an honest picture of overall business operations with a prompt and truthful reflection of business activities at each stage.
The picture of business activities is reflected in limits and delays.
ERP accounting software support comprehensive management
ERP software with a financial management system will provide businesses with superior support functions compared to conventional accounting software. Some of the highly appreciated functions of this software include financial reporting, sales management, inventory management, HRM, CRM, etc.
Comprehensive management software
Conventional accounting software limits specific needs
The ERP software for Small and Medium businesses can provide full functions for management without requiring any connections to third-party systems like conventional accounting software. Therefore, businesses will be able to capture problems for appropriate decisions and reduce labor costs.
Hence, ERP accounting software could be adjusted to accommodate the demands of many different needs such as accounting software for construction companies, and pharmaceutical accounting software, etc.
Conventional accounting software often lacks functions of customer relationship management and sales management
ERP accounting software includes a CRM module that allows users to access and manage customers. This feature is limited in conventional accounting software. Therefore, ERP software can provide full functions which are convenient for users.
The ERP system can provide full functions for management without requiring any connections to third-party systems like conventional accounting software. Therefore, businesses will be able to capture problems for appropriate decisions and reduce labor costs.
ERP allows consolidations of reports from member units
Consolidating reports and data from member units and branches is convenient with a centralized data mechanism of the ERP accounting system. Consequently, managing members of the business will become an accessible task. Besides, users can easily check the consolidated data using available tools.
ERP accounting software allows consolidating reports from member units
Conventional accounting software cannot present data in real-time
Conventional accounting software can not store all documents in a common management system. Therefore, managers must contact each employee for specific data of departments. This is time-consuming and interrupts working processes.
On the contrary, ERP accounting software stores data on the cloud system. As a result, users can access data in real-time at any time and any place, and with any internet-connected device. Besides, the synchronization of information on a single database, eliminating single management software is another convenience.
Viindoo accounting software - Provide the overall picture for businesses
The above comparison between ERP accounting software and conventional accounting software have highlighted the benefits of the accounting solution integrated in an ERP system. If you are looking for effective and easy-to-use ERP accounting software for your business, Viindoo Accounting can be the best choice.
Viindoo accounting software is the most popular corporate financial management support system nowadays. This software provides an overall picture of the financial status of businesses with a smart and informative interface, providing details about ledgers, debts, invoices, banking transactions, etc. In addition, Viindoo accounting software is also useful in other fields such as Auditing, Education, Foreign Trade, etc.
Moreover, Viindoo accounting software pricing is reasonablr for all type of business.
Viindoo ERP accounting software
Viindoo accounting software is integrated with different capabilities in features such as:
Automate all accounting operations in business operations
Control financial data in real-time
Comply with multinational accounting principles and standards
Forecast cash flow and effectively plan corporate finance.
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Hopefully, the information will provide you with an understanding of the difference between ERP accounting software and conventional accounting software for the best solution for your business. If you want to learn more about Viindoo accounting system, contact the hotline at 02257309838 for support.