Why a business needs accounting software and how to choose it

Accounting software helps a small business owner to track & monitor all his expenses and transactions in a month. It provides various financial reports to understand & analyze business health.   When a person starts his own business when he became an entrepreneur. Entrepreneurship sometimes a passion, sometimes to help society but in the end, each & every entrepreneur has a goal of making profits. Making profit is the ultimate aim of every business or entrepreneur but to have accountability of every penny, accounting is inevitable. Accounting can be managed manually as well as by using tools. When a start-up starts its operation officially, it will need some tools to manage business easily also for business growth. And one of the much-needed tools is accounting software. An accounting software helps a business to understand business health, business growth in terms of profits, product demand in the market, proper inventory management etc. Choosing the best accounting software that would fulfill your business requirements is not that easy yet very sensitive as it will affect your business in the long run. You must be thinking how it will affect your business? Let’s take an example: Initially, your business had 5-6 employees so you choose software which currently able to meet your requirements and works perfectly but after a year your business grows with 30 employees. Now your software is not able to perform in a better manner as it’s not made for companies which are making a huge profit and has more manpower. After all, you have to buy new software. This way a bad decision can affect your business. Now, here are some key notes which will help a business owner or entrepreneur to choose the best accounting software. Accounting software is of two types; online & offline. Online is based on cloud technology. A business owner needs an internet connection to access online accounting software while offline software can be accessed without having internet access, as it’s a desktop software. What are some key points to reconsider before selecting accounting software? Software Type: First find out what are your business needs. Try to understand is your business needs an offline or online software. The offline software can be accessed only on the desktop. But online software can be accessed anywhere & on any device. So, first determine the type of software you want for your business. Software attributes: Now let’s quickly jump to the next segment i.e. software attribute. Software attribute is very vital keynote a business need to look for in software. If a small business has an average rate of revenue. Let’s say Rs. 8 Lakhs per year then it must be looking for only an invoice generation & billing. This type of business would never look for full-fledged accounting software with the high package. So, identify business needs with respect to accounting and then pick a list of software that incorporates all features. The best accounting software for all kind of business must possess below mention features; Quick & easy tax enabled invoicing POS mode billing Barcoding Income & expense management E-way bill Bank integration & reconciliation Inventory Management Warehouse management Purchase order & item tracking All GST reports Invoice tracking Auto payment reminder Multi-user facility Multi-currency facility Offline accounting software can’t have some features from above like direct sending of invoices to customer emails, auto due payment reminders etc. Accessibility: Accessibility is very much important as it enhances the quality & usability of the software. In start-ups’ & small businesses, accounting majorly maintained by business owners as they have less budget to hire an accountant or accounting professional. So, the accounting software must be very easy to use & understand as the business owner doesn’t usually have less time to expend in accounting works. In this GST regime return, the filing has to be done on monthly basis. A small or single error in accounting can cause a big trouble for a business. In this aspect cloud accounting software are of a great help as it will do automatic bank reconciliation with a negligible error also can edit entries at any time and they provide 24×7 support assistance. Data Safety: Data safety should a major concern for all businesses. A cloud accounting softwarewould be able to provide more data safety than offline software. Why? Let’s take an example: Your system got corrupted and your engineer asked to format it then all your accounting data will be removed from the software as its a desktop software and data is in the software itself not in cloud or server. But in the case of cloud / online accounting software data will save in server or in the cloud so whether your system broke down or software updated still data will be there with you. All your data will be safe & secure. Its the major benefit of using cloud accounting software. Customer Support: Customer support and after sales service is very important in the customer viewpoint. A customer might face any issue in using a software and the customer support department should be always ready to help their customers quickly. In accounting quick customer support is very much needed. If there is an issue with downloading as an invoice or calculating tax deductions at that time a quick support is of great help & always appreciated. A better after sales service also helps to increase the positive reviews for a software alongside increase sales rate. Software Flexibility: From the time of inception, every business or start-ups’ has set their target market and according to that they designed their product. Some software only made for small business and some for all type of businesses. If you started using an accounting software made for only start-ups’ & small businesses then let’s say after 3 years your business grows but your current software is unable to accommodate your requirements then you have one option left i.e. to buy a new one. It will be an add-on cost to your expenses. So, it would be better for a business to choose a software which is flexible and can function without any issue with huge data. It will be value for money decision. Unseen costs: Normally businesses charge some extra costs for a software upgrade or for updating. Always have a clear discussion with the company about the actual cost of product & any future costs. This will be helpful for your business to avoid any hidden cost burden. Business Budget: Lastly, do a proper budgeting to find out how much cost you can afford. Budget is a major concern for small business and start-ups. Apart from accounting software, budgeting or say cash flow management software is a most needed tool for small business & start-up’s to keep track on the movement of every penny also to do an accurate forecast for profitable business growth. Steps to undertake for finalizing an accounting tool Figure out the needs of your accountant or the features he looks for in an accounting software Then find out your budget to purchase accounting software Make a list of software which fulfills all your required fields and fall in your set budget Analyse all software and finalize two or three of them Go for a free trial to know more about the software Then finalize and purchase the best software that suits your business Conclusion In this GST regime, the need for accounting software highly increased to have accountability in business finance. Above mentioned steps are very necessary and should be followed by entrepreneurs & business owners in order to choose the best software for their business.  

Continuing Transparency on Russian Activity

A few weeks ago, we shared our plans to increase the transparency of advertising on Facebook. This is part of our ongoing effort to protect our platforms and the people who use them from bad actors who try to undermine our democracy. As part of that continuing commitment, we will soon be creating a portal to enable people on Facebook to learn which of the Internet Research Agency Facebook Pages or Instagram accounts they may have liked or followed between January 2015 and August 2017. This tool will be available for use by the end of the year in the Facebook Help Center. It is important that people understand how foreign actors tried to sow division and mistrust using Facebook before and after the 2016 US election. That’s why as we have discovered information, we have continually come forward to share it publicly and have provided it to congressional investigators. And it’s also why we’re building the tool we are announcing today.

Calculate Companies Valuation for Merger and Acquisitions

Naturally, both sides of an M&A deal will have different ideas about the worth of a target company: Its seller will tend to value the company at as high of a price as possible, while the buyer will try to get the lowest price that he can. There are, however, many legitimate ways to value companies. The most common method is to look at comparable companies in an industry, but deal makers employ a variety of other methods and tools when assessing a target company. Here are just a few of them: Comparative Ratios. The following are two examples of the many comparative metrics on which acquiring companies may base their offers:Price-Earnings Ratio (P/E Ratio) - With the use of this ratio, an acquiring company makes an offer that is a multiple of the earnings of the target company. Looking at the P/E for all the stocks within the same industry group will give the acquiring company good guidance for what the target's P/E multiple should be. Enterprise-Value-to-Sales Ratio (EV/Sales) - With this ratio, the acquiring company makes an offer as a multiple of the revenues, again, while being aware of the price-to-sales ratio of other companies in the industry. Replacement Cost – In a few cases, acquisitions are based on the cost of replacing the target company. For simplicity's sake, suppose the value of a company is simply the sum of all its equipment and staffing costs. The acquiring company can literally order the target to sell at that price, or it will create a competitor for the same cost. Naturally, it takes a long time to assemble good management, acquire property and get the right equipment. This method of establishing a price certainly wouldn't make much sense in a service industry where the key assets – people and ideas – are hard to value and develop. Discounted Cash Flow (DCF) – A key valuation tool in M&A, discounted cash flow analysis determines a company's current value according to its estimated future cash flows. Forecasted free cash flows (net income + depreciation/amortization - capital expenditures - change in working capital) are discounted to a present value using the company's weighted average costs of capital (WACC). Admittedly, DCF is tricky to get right, but few tools can rival this valuation method. For the most part, acquiring companies nearly always pay a substantial premium on the stock market value of the companies they buy. The justification for doing so nearly always boils down to the notion of synergy; a merger benefits shareholders when a company's post-merger share price increases by the value of potential synergy. Let's face it, it would be highly unlikely for rational owners to sell if they would benefit more by not selling. That means buyers will need to pay a premium if they hope to acquire the company, regardless of what pre-merger valuation tells them. For sellers, that premium represents their company's future prospects. For buyers, the premium represents part of the post-merger synergy they expect can be achieved. The following equation offers a good way to think about synergy and how to determine whether a deal makes sense. The equation solves for the minimum required synergy: In other words, the success of a merger is measured by whether the value of the buyer is enhanced by the action. However, the practical constraints of mergers, which we discuss in part five, often prevent the expected benefits from being fully achieved. Alas, the synergy promised by deal makers might just fall short. for more visit www.yeforum.in

Industries Growth Rate as per YEforum

A review is an evaluation of a publication, service, or company such as a movie (a movie review), video game (video game review), musical composition (music review of a composition or recording), book (book review); a piece of hardware like a car, home appliance, or computer; or an event or performance, such as a live music concert, play, musical theater show, dance show, or art exhibition. In addition to a critical evaluation, the review's author may assign the work a rating to indicate its relative merit. More loosely, an author may review current events, trends, or items in the news. A compilation of reviews may itself be called a review. The New York Review of Books, for instance, is a collection of essays on literature, culture, and current affairs. National Review, founded by William F. Buckley, Jr.,[1] is an influential conservative magazine, and Monthly Review is a long-running socialist periodical.[2] A review is an evaluation of a publication, service, or company such as a movie (a movie review), video game (video game review), musical composition (music review of a composition or recording), book (book review); a piece of hardware like a car, home appliance, or computer; or an event or performance, such as a live music concert, play, musical theater show, dance show, or art exhibition. In addition to a critical evaluation, the review's author may assign the work a rating to indicate its relative merit. More loosely, an author may review current events, trends, or items in the news. A compilation of reviews may itself be called a review. The New York Review of Books, for instance, is a collection of essays on literature, culture, and current affairs. National Review, founded by William F. Buckley, Jr.,[1] is an influential conservative magazine, and Monthly Review is a long-running socialist periodical.[2] A review is an evaluation of a publication, service, or company such as a movie (a movie review), video game (video game review), musical composition (music review of a composition or recording), book (book review); a piece of hardware like a car, home appliance, or computer; or an event or performance, such as a live music concert, play, musical theater show, dance show, or art exhibition. In addition to a critical evaluation, the review's author may assign the work a rating to indicate its relative merit. More loosely, an author may review current events, trends, or items in the news. A compilation of reviews may itself be called a review. The New York Review of Books, for instance, is a collection of essays on literature, culture, and current affairs. National Review, founded by William F. Buckley, Jr.,[1] is an influential conservative magazine, and Monthly Review is a long-running socialist periodical.[2]

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Eris is already among the top 20 companies in the cardiology segment and ranks among the top ten in the diabetology segment. Since inception in 2007, Eris has focused on the “chronic segments” of cardiology and diabetology. Eris had forayed into the CNS segment only recently. This acquisition cements Eris’s position in the top three chronic segments. Post-acquisition, Eris will break into the league of top 25 companies having a market share of more than 1% in the Indian Pharmaceutical Market. The India branded generics business being divested by Strides had sales of Rs 181 crores in FY 2017. “The transaction is a good strategic fit for Eris and will strengthen our position in the key segments of CNS and Gastro-Intestinal therapies," said Amit Bakshi, Managing Director Eris Lifesciences. "We expect to realize cost and revenue synergies from this transaction given Eris’ strong presence in the branded business in India,” Bakshi added.. “This transaction is the outcome of our portfolio re-prioritization, to focus more sharply on larger regulated markets," said Shashank Sinha, Managing Director of Strides in a statement. "We retain global rights for the divested portfolio, which have significant sales in Africa and will continue to grow our emerging market business. Net proceeds from this transaction will be used to pay down debt to the tune of INR 400 crores," Sinha added. For Strides, MAPE Advisory Group and Tatva Legal acted as the transaction advisor and legal advisor respectively. EY India was the exclusive M&A advisor and Shardul Amarchand Mangaldas & Co was the legal advisor to Eris Lifesciences on this transaction. tags #Business #Eris Lifesciences #Strides Shasun most popular Govt reforms will result in higher sustainable growth for India: Moody's William Foster Govt reforms will result in higher sustainable growth for India: Moody's William Foster Moody's upgrade is recognition of Modi govt's reforms: FM Arun Jaitley Moody's upgrade is recognition of Modi govt's reforms: FM Arun Jaitley JAL seeks staff contributions to raise Rs 2000 crore to refund homebuyers JAL seeks staff contributions to raise Rs 2000 crore to refund homebuyers Video of the Day Govt reforms will result in higher sustainable growth for India: Moody's William Foster Govt reforms will result in higher sustainable growth for India: Moody's William Foster Must Watch I-T department conducts search & recovery operations at Poes Garden: Sources I-T department conducts search & recovery operations at Poes Garden: Sources stay updated Subscribe to our Daily Newsletter Get Daily News on your Browser Trending news After 20 years, man reunites with car he parked and forgot After 20 years, man reunites with car he parked and forgot Japan railway operator says sorry after train leaves 20 seconds ahead of schedule Bengaluru businessman allegedly assaulted by 20 Uber drivers over his seatbelt query WhatsApp 'delete for everyone': Here's how to read deleted text messages Here's what McDonald's said after a customer exposed no change in bill despite GST cut