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Accounting Software Questions & Answers

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Q:

What is Navision Accounting Software?

Nilesh . Aug 07, 2024 A:

Microsoft Navision or Microsoft Dynamics NAV is an ERP-based solution built by Microsoft to help in effective business management. The software is designed to enable users to automate manual and repetitive tasks in finance, sales, operations, purchase, accounts, and inventory.

Richa Sharma . Jul 25, 2024
Q:

What is Accounts Payable (AP)?

prathiba harish . Aug 07, 2024 A:

It refers to the amount a business owes its suppliers or vendors for goods or services bought on credit. It signifies a liability on the balance sheet since the business has received the goods or services but has not yet paid. Accounts payable typically include supplier invoices due within a specified timeframe, often 30, 60, or 90 days.

aman varshney . Jul 25, 2024
Q:

Is Tally an Accounting Software?

Rupali Bhatnagar . Aug 07, 2024 A:

Yes, Tally is an accounting software. Businesses extensively use it for various accounting and financial management tasks. Tally offers features such as bookkeeping, inventory management, payroll, tax management (including GST), and financial reporting, making it a comprehensive solution for businesses of different sizes.

Rishi Pandey . Jul 25, 2024
Q:

What is SQL Accounting Software?

Sandeep Manek . Aug 07, 2024 A:

SQL accounting solution is a comprehensive accounting platform designed for small- to medium-sized businesses so they can easily manage their financial and operational processes without much hassle. Some of the essential features offered by SQL accounting software are general ledger, financial reporting, sales and purchase orders, and more.

Sarita sharma . Jul 25, 2024
Q:

What are the uses of an accounting software?

Nishtha Sharma . Aug 07, 2024 A:

Some of the common uses of an accounting software are:

Generates profit and loss statements to show revenues, expenses, and profits over time.
Provides an overview of the company's financial position at a specific point in time.
Tracks the inflow and outflow of cash to manage liquidity.
Maintains the core accounting records of a company.
Automates the calculation of taxes such as GST, VAT, and sales tax.
Calculates employee salaries, deductions, and net pay.

farid ansari . Jul 25, 2024
Q:

What does SAP Accounting Software stand for?

sameer AB . Aug 07, 2024 A:

SAP accounting software stands for system, application, and processing where all the applications work collectively as a part of a reliable and automated financial system.

pankaj gupta . Jul 25, 2024
Q:

What is a Software Escrow Account?

Himanshu Varshney . Aug 07, 2024 A:

A Software Escrow is an agreement that is simple and an efficient tri-party setup consisting of mutually agreed terms between the software customer, software supplier, and an independent escrow service provider.

Subhash Chaturvedi . Jul 25, 2024
Q:

What is Accounts Payable Software?

Sumit Bhalekar . Aug 07, 2024 A:

Accounts payable software is an organized solution responsible for paying vendors and suppliers for goods and services that the company purchases.

Muskan kathuria . Jul 25, 2024
Q:

What is a Business Accounting Software?

Khadija Poonawala . Aug 07, 2024 A:

Business accounting software is a type of accounting solution designed to help businesses easily manage their financial operations. The platform records and processes accounting transactions with different modules like accounts payable, payroll, and trial balance.

Dependra . Jul 25, 2024
Q:

What is Great Plains Accounting Software?

Namita Agrawal . Aug 07, 2024 A:

Dynamics Great Plains accounting solution is specifically designed for mid-sized businesses. The platform makes use of a Microsoft SQL server for data storage. Dexterity Programming Language, a vital part of the Microsoft Dynamics Suite, laid down the foundation stone for the Great Plains accounting software.

tushar vadhavana . Jul 25, 2024

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