The Nextsoft Accounting system is a full suite of operational and administrative functions that is used for managing your business’ books. Nextsoft Accounting is tightly integrated with the Service and Jobcost offerings, allowing you to automate the time consuming task of entering hours and materials into the system. Since all data flows in real-time, financials are always current and do not require posting or end-of period procedures. Complete financial statements are always available and current, including the present day’s activity.
A major feature of Nextsoft’s Accounting solution is the elimination of end of month processing. Because there are no batches, or procedures to run, all transactions (e.g. invoices, purchase orders, payments, timesheets) result in the immediate updating of all other related areas, such as receivable balances, checkbook balances and the Chart of Accounts. There is no need to perform any month-end functions, yet at the same time you can continue entering information for a new month even as you are preparing financials and statements for a prior month. All transactions and reports are based on actual date, so you can easily backdate a transaction into a prior period if needed. At the same time, a prior period can be locked so that additional transactions cannot be entered accidentally, such as after the tax return is prepared.
All financial data in Nextsoft is stored in three dimensions; allowing you to view all General Ledger account balances by department, location, or both. Departments are used to assign sales or expenses to customer demographics, such as wholesale, retail and commercial. Locations include your physical store or office locations. As a result, management decisions can be based on performance of a single location, a single department within a location, or a department across all locations.
The General Ledger is broken into two parts; shown on two separate pages but directly tied into each other:
Chart of Accounts
The Chart of Accounts is the heart of the Nextsoft Accounting solution. This chart organizes all accounts into a hierarchical tree. Each account will show you a complete transaction history with details, highs and lows, month-to-date and year-to-date balances. Each account can be drilled down to show and edit underlying transaction details; which will automatically result in the recalculation of account balances. Budget information on a month-by-month and year over year basis is maintained for preparing budget and variance reports. Finally, for ease of use and to reduce your staffs learning curve, the chart of accounts is operated by a simple, intuitive drag and drop interface.
Using the Chart of Accounts the General Ledger will manage all top-line transactions, such as: depreciation, capital assets, account transfers and other non-standard transactions, most of which can be automated. Additionally the GL holds summary transactions form other areas of Nextsoft Hosted Solutions. The GL can generate reports of any type, such as Trial Balance, Chart of Accounts, General Ledger Detail and General Ledger Summary; and each report can be run for any current or prior period.
Order Entry & Invoicing
This page allows your staff to quickly create quotes for customers, turn them into sales orders or invoices, generate purchase orders from sales orders, and communicate with shipping and your warehouse. The Order Entry & Invoicing page gives you great flexibility in creating your Orders. Orders can be entered into a customizable form that allows you to select inventory items or labor rates.
If you need to generate an order for services or other non-product sales you can use General Ledger billing codes on the order. In the Order creation process, you will automatically be shown the customer file, allowing you to see invoices, payment history, and credit/collections activity. Additionally, your staff can attach comments to a customer file, which will be displayed each time a new order for that customer is entered. Finally, you are able to enter descriptions of unlimited length for each order or billable line item.
The Payables page will manage your payables by allowing you to enter all vendor invoices, including invoices for non-purchased items, to be entered into a single vendor invoice form which handles all terms, discounts, freight, tax and schedule to pay. If there are discrepancies with invoices, you can enable to hold function which allows you to enter a payable but not pay until resolution.
The AutoPay feature allows you to automate the process of finding unpaid invoices and paying them. This function will check for discounts and compare due dates to determine which invoices should be paid. Checks can be preprinted or essentially empty, with only the MICR encoding line at the bottom. Finally, the Form Designer allows you to design your own forms, including logos, color and all other design elements.
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