Implementation of proper accounting procedures in a company makes it easy to track down revenues earned or incurred. Basics of business finances begin on deciding if the company's finances will be managed through cash or accrual accounting method. In cash based method, transaction is recorded only when cash is finally exchanged and also when the same is used to pay expenses. In accrual based method, every transaction is recorded when it actually happens which is also known as double-entry is bookkeeping. Only few use the double-entry bookkeeping method, as most companies prefer to use the more complex accrual accounting process to manage the overall company finance scenario.
Is Spreadsheets good for Accounting
Accurate bookkeeping method requires accounting procedures ranging from tracking down cash flows, calculating tax filings, managing payrolls along with generation of regular financial reports. Small companies mostly manage their company's finance processes by using basic spreadsheets like microsoft excel. But the scenario changes as the company's business keeps growing, age-old spreadsheets accounting process may be become a hassle to handle and need to be replaced with proper accounting software. Choices range from stand-alone desktop applications or cloud based solutions depending on how much you spend. In order to keep costs down, switching over to cloud based accounting is the ideal solution and it doesn't mean you would lose control over your business transactions; you can securely access all your data round-the-clock.
Can Nimble Accounting make a difference to my Company
Nimble Accounting provides simple yet affordable business accounting solutions for non-accountants as well as company accountants and entrepreneurs which can be easily applicable in staffing industry, restaurants & retail outlets. Contemporary designed user interface includes a business intelligence dashboard to see instant real-time financial health on a single window including support for multi company accountings. It's not just convenience that might compel you to move your company's accounting to the cloud, the ability to generate customized income statements, balance sheets, cash flows in real time along with email updates changes the prospective of your accounting process.
Loaded with business intelligence features like instant invoices, due date reminders; future forecasts, state wise tax filings, automated budgeting combined with office automation helps you to organize finances and stay focused on your goals. You can instantly track and run indefinite reports on basically any information in the framework and drill down into the source records within a snap. The affordable online accounting solution is integrated with smart automated budgeting; forecasting, business intelligence tools combined with office automation, easy data migration and more. Even multiple company accounts can be managed from an individual user account which can be accessed from a single dashboard window. Inter-Company transfers are made easy with funds transfer, bill transfer and debit memo transfers amongst all companies owned by user.
Calculating of Taxes is made easy
Sales tax is a critical source of revenue in 45 States apart from Oregon, New Hampshire, Montana, Alaska, and Delaware which do not have sales tax policies. Many states use a true object test to determine whether the product or the service is taxable. Nimble Accounting is designed to handle all of your taxing needs right from calculating taxes to generating reports based on your tax collections along with automated compliance filing and more. Area wise taxing policies are constantly updated so that your tax calculation is always accurate along with quick generation of summary and detailed reports.
Be assured your Accounting Data is Safe with us
Most of the accounting data is instantly backed up, as information always remains within the application with servers located in United States and only you can have access to your company's database. All systems are engineered to stay up even during multiple server failures ensuring you have access to your fianancial info round-the-clock. Rest assured all your accounting data is completely secure and stays confidential with us.
Moreover there is no upfront investment on infrastructure needed to set up, as Nimble Accounting requires a small one time subscription making it a cost-effective accounting solution. Subscribe today with Nimble Accounting for effective management of accounts with ease of implementation and maintenance.
Nimble Accounting provides simple yet affordable business accounting solutions for non-accounting as well as company accountants and entrepreneurs which can be easily applicable in staffing industry, restaurants & retail outlets, connect with us to know more.