Accounting Software Resources

Articles, Glossary Terms, Discussions, and Reports to expand your knowledge on Accounting Software

Resource pages are designed to give you a cross-section of information we have on specific categories. You'll find articles from our experts, feature definitions, discussions from users like you, and reports from industry data.

Contents

Accounting Software Articles

What is Contract Management and Why is It Important?

Contracts govern almost every interaction between businesses.

MCN

by Mary Clare Novak

How to Calculate Cost of Goods Sold (COGS): A Complete Guide

Understanding your costs is essential for sustaining profitability in manufacturing.

by Devin Pickell

Top 9 Free Invoice Management Software for 2024

Unpaid invoices haunting your dreams? Managing multiple clients and tracking expenses can turn into a nightmare for fast-growing small businesses. You might find yourself spending hours creating client invoices, approving vendor bills, tracking your payments, and managing financial records rather than focusing on the heart of your business.

by Soundarya Jayaraman

Accounting Software Glossary Terms

Payroll Management

Payroll management is an administrative process that ensures employees are financially compensated for their work. Learn more about its types and benefits.

by Holly Landis

Accounting Controls

Accounting controls help businesses maintain financial integrity and accurate data. Learn about the types, benefits, and challenges of accounting controls.

by Alyssa Towns

RFID

Radio frequency identification technology (RFID) tracks and identifies objects, animals, or people using electromagnetic fields. Learn more about types.

by Sagar Joshi

Budget Period

A budget period is the particular time frame in which a business plans, implements, and evaluates its budgets. Learn more about its types and benefits.

by Sagar Joshi

E-Signature

An electronic signature, or e-signature, is a digital representation of a person's signature used to sign a document online. Learn about its benefits.

by Sagar Joshi

Bank Reconciliation

Bank reconciliation compares a company’s accounting records with corresponding bank statements. Learn more about its benefits and purpose.

by Sagar Joshi

B2B

Business-to-business, or B2B, describes a transaction between two business entities. Learn more about the types of B2B companies and their benefits.

by Whitney Rudeseal Peet

Cash Accounting

Cash accounting records finances by only recognizing cash transactions. Learn more about this bookkeeping method to see if it's the right fit for you.

by Harshita Tewari

Fiscal Year-End

Fiscal year-end is when a company’s 12-month accounting cycle comes to a close. Learn about its benefits and best practices.

by Kelly Fiorini

Closed Account

A closed account is an account that's been deactivated or terminated by the account holder or a counterparty. Learn more about how it works and its causes.

by Amanda Hahn-Peters

Accounting Software Discussions

Question on: SAP ECC

Which data model is used for SAP's 4hana

I would like to go for memory Computing through SAP, just got to know that it can be done through HANA but I want to know how it can be done what is the process and architecture as well as costing.

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SAP’s 4HANA is a new product which works entirely on in-memory platforms. The data models which are used in this technology consist of many layers. It accesses the database tables directly as well as indirectly through the lowest level. The lowest level has database tables while the consumption views layer are at the top. Between the Database Tables and the Consumption View Layer, there is Interface View Layer which consists of Composite Interface and Basic Interface Views. These views are designed to use by a particular transactional or analytical application. The Consumption views function as an analytical query. So, in a nutshell, there are: 1) Database Tables, 2) Interface View Layer and 3) Consumption View Layer. For details of pricing, etc. you may approach an SAP partner of your region.

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Answered: Zaigham Hasan on September 16, 2019

Your answer

Question on: QuickBooks Online

How do i delete bank and credit accounts that I no longer need.I dont know where to go exactly

My quickbooks interface is very full simply because i have some business and credit accounts that I don't require and i don't know how to trash them

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These days you don't delete them, you archive them. You should be able to do this via the chart of accounts, by checking the box next to the account to modify and click archive.

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Answered: John Cantrell on September 27, 2019

Any accounts that have been used in your books may not be deleted. They may be deemed inactive by going to the chart of accounts and then choosing the option if make inactive. Do keep in mind that if books are being maintained properly, the bank and credit card accounts should be reconciled monthly and If there is no activity then it should balance out to a zero amount in that account if not then you need to allocate the remaining funds to the proper accounts to be able to reconcile. The main reason for this is for record and tax purposes, you see if you had any form of activity in those accounts at any point you will want to have records of those accounts. For instance if you had bank account named ABC and paid bills out of that account or made asset purchases, if you are able to delete the account where will the expenses and assets be recorded? So instead of having access to delete anything but zero activity accounts QuickBooks actually thinks about the long term effect of allowing users to delete needed information. Running a business and deleting accounts is not good practice in the eyes of the IRS as they do audit most new companies within the first three to five years of business. You may delete accounts that have had zero activity . Hope this helps.

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Answered: Shellie A. Worthen on November 4, 2022

See more answers (1)

Your answer

Question on: SAP Business ByDesign

What is the implementation time?

Implementation

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Obviously this depends on the scope, but the average implementation time we see is between 8 and 12 weeks

Accounting Software Resources

Articles, Glossary Terms, Discussions, and Reports to expand your knowledge on Accounting Software

Accounting Software Articles

What is Contract Management and Why is It Important?

How to Calculate Cost of Goods Sold (COGS): A Complete Guide

Top 9 Free Invoice Management Software for 2024

W-9 vs. 1099 Forms: What's the Difference?

History of Accounting: How It's Evolved Over the Years

Free Balance Sheet Template for Easy Accounting

Venture Capital: What It Is, How It Works, and Types

How to Calculate Your Gross Profit and Gross Margin

11 Best Accounting Software in India for 2023

What Is Accrual Accounting? How It Works, Pros, and Cons

Small Business Bookkeeping Essentials (+5 Tips for Newbies)

Introducing the Returns Management Category on G2

What Is a General Ledger (GL) and Why Does Every Company Need One?

Some Well Known (and Lesser Known) Facts About GAAP

22 Basic Accounting Terms Every Small Business Owner Needs to Know

2021 Trends in Accounting and Finance

The Role of Artificial Intelligence in Accounting

The Importance of Accounts Payable (AP) Automation

Key Components of Accounting Automation

Financial Forecasting: The Crystal Ball of Your Business

What Is a Current Ratio? (+ The Current Ratio Formula)

13 Accounting Principles Essential to Financial Accounting

What Is Cash Basis Accounting? (+When You Should Use It)

What Is Cost of Debt? (+How To Calculate It)

Share to Grow: Why and How Companies Use Equity Capital

Using Project Portfolio Management (PPM) to Determine Value

Accounting Software Basics (+ Some Key Features to Look For)

What Is Debt to Equity Ratio and How Do You Calculate It?

Accounting Software Glossary Terms

Accounting Software Discussions

Accounting Software Reports