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Business

Why is Accounting Software Essential

Accounting Software

Good accounting software not only helps business owners to properly organize their financial data, but it also helps them make informed decisions about sales. Any accounting programs automated that they even minimize the chances of human intervention.

Feature of Accounting Software

So if you are still wondering which accounting software is best for your business, here are some features that every business accounting software must possess:

  • Automatic invoicing and payment processing
  • Reports and data analysis
  • Quotation and estimate preparation
  • Payment and expense handling
  • Production and inventory management
  • Taxation handling
  • HR and payroll
  • Account reconciliation
  • Benefits of  Accounting Software
  • Escalated Productivity
  • Reduced Monthly Expenses
  • Improved Accuracy
  • Simple Tax agreement
  • Improved Security

Why is Accounting Software Essential?

Implementation of accounting software helps in improving work accuracy and curtailing errors. It hastens the work process and saves plenty of time. They helps users to create and customize a variety of financial reports that helps in providing business insights to the company. It reduces a lot of tension that the user generally faces while preparing the taxes. The features embedded in accounting software to reduce manual labor and save money & time at an affordable rate make an accounting software popular. QuickBooks is the topmost among all the accounting software.

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Minimum System Requirements

System requirements for the desktop versions of QuickBooks are mentioned below.  QuickBooks accounting program requires

  • At least a 2 GHz processor and 1GB of RAM, though a faster processor is recommended and 2GB of RAM is necessary for multi-user systems.
  • 5 GB of hard disk space is required; not only to store the program but to store data files info as well.
  • 4X CD-ROM drive is required for program installation.
  • QuickBooks will also support up to one extended monitor.
  • Third-Party Integration

The integration between the QuickBooks accounting application and a third-party application is very simple. The communication process between the two programs takes place behind the scenes. Often we only see the end result. But there are certain issues that can take place even while integrating the two programs.

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Accounting Software Errors Faced by the User

Here’s a list of some of the most common QuickBooks errors that business owners usually run into:

  • Error 6000: This QuickBooks error 6000 occurs when you try to log in, maintain backup, or even restore a company file. To solve the problem, you need to back up the file on your local drive and then restore and update it.
  • Error -6147,0: This error code indicates that your QuickBooks company file is damaged. To resolve the error, try to copy the data file to your desktop, and open it in QuickBooks.
  • Error 1603: This error is the result of a damaged Microsoft Windows Installer or a corrupt QuickBooks desktop installation. To solve the problem, you need to uninstall and reinstall Windows Installer 3.1.

For every error code, there are certain solutions recommended by Intuit. But since the solution is not every time available on the open-source platforms thus you either need to work through it or hire a ProAdvisor to do that for you.

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