Conventional Bookkeeping Software can be Perilous

Conventional Bookkeeping Software can be Perilous


It is time to be proactive and understand the changing needs of the business. Conventional bookkeeping software doesn’t have modern features as compared to the most up-to-date small business bookkeeping software. There are many vendors of bookkeeping software, CRM software and accounting software for small businesses.

Software manufacturers keep contacting people to buy their products but businesses need to understand that there is a need for a modern and multi-functional easy bookkeeping system for small businesses. The software should be able to aid in planning, forecasting, and the most important – analyzing data. It is also imperative for small businesses to find out which software solutions are beneficial for them and what the USP of the product is.

Nomisma Solution has all the features to be rated the best simple small business bookkeeping software. The application is quite capable of analyzing data and setting an organizational level strategy by evaluating the data and presenting insights based on historic data along this forecasted data. Our cloud-based white labeled accounting software for small business is a fully integrated compliance and bookkeeping software programmed to meet the needs of accountants. Nomisma is very cost-effective and the features offered by our simple small business bookkeeping software are best compared to any modern bookkeeping software. All the accounts are updated automatically and the software captures additional information such as Value Added Tax (VAT), dividends, and payroll. Nomisma Solution can also help businesses with their income tax filings.

Conventional Bookkeeping Software can be Perilous

Modern Software for Cloud Bookkeeping

Nomisma Solution has unmatched features and the accounting software for small business is best suited for the modern scenario. Small business bookkeeping software is an easy way of keeping track of the monetary transactions. Conventional bookkeeping software lack the financial management aspect and are not very effective for business operations. Putting together the financial data and customer data for forecasting needs a framework that is easy to operate and has good functional capabilities.

Read Also: Create and Manage your Accounts on Cloud

Nomisma Solution is very useful for small businesses:

• the financial information available to businesses whenever they need
• data is updated automatically, giving businesses the latest information they need
• small businesses don’t have to wait for the month-end to analyze the monthly sales, and profit and can get information anytime to make key-decisions beneficial for the business

Nomisma Solution is a single basic bookkeeping software for small business that can do all the accounts and taxation tasks and prepare the business for a long-term growth. The unique features offered by Nomisma Solution include:

• Sales / purchase invoices, only VAT Invoices, and credit / debit notes
• Strong reporting capabilities including;
✓ Financial Statements: trial balance, P&L, and balance sheet
✓ Detailed ledger and journal entries
✓ Comprehensive audit reports
✓ Department-wise analysis and reports
✓ Transaction summary
• Mobile app for viewing accounts from anywhere
• Contractor and sub-contractor statements
• Auto-reconciliation and reports available in .pdf or .doc / .docx format
• Working capital management
• Payroll and self-assessment modules
• Direct feeds from banks
• Invoices can be e-mailed directly from the software
Exclusive modules: reimbursement and allowance modules and management receipts
• Dividend processing and voucher generation
• Accounting by department and query sheets to resolve issues
• Safe and fully secured

Nomisma Solution is a fully integrated system which performs all the bookkeeping functions and there is no requirement for any other software. Business owners / freelancers can view all the information on a single screen without having to swap between different programs. Conventional bookkeeping software’s were only restricted to on-premise functionality whereas, Nomisma Solution operates on the cloud. All the processes are streamlined and business process are simplified. Bookkeeping activities are automated and business owners can work towards meeting their short-term objectives and long-term goals.

Read Also: Why your CRM system is your most valuable asset!

Bookkeeping activities on a daily basis

• Cash-in-hand summary
• List of debtors
• Follow up with potential customers
• Auto-reconciliation
• Bank balance summary statement
• Tax summary
• List of creditors
• Stock statement

Quarterly Bookkeeping activities

• Update on filing deadlines and tax payable
• Updates on debtors and creditors
• Summary of quarterly sales and revenue
• Growth and business performance
• Value added tax (VAT) payable
• Payroll summary
• Summary of business expenses

Bookkeeping activities at the Year-end

• Analyze and verify the statement of accounts
• Financial analysis of the business
• Scope of improvement
• Payroll calculation and incentive due
• Salary increment
• Financial ratios, working capital management
• Projection based on historical data
• Analysis of yearly goals
• Stock statement
• Outstanding debtors and creditors
• Direct and Indirect tax computation
• Setting goals for the next financial year

Nomisma provides a clear overview of the firm’s financial health to aid the small businesses is better planning and inventive distributions. Bonus and salary increment are all dependent on the performance of the business and Nomisma Solution provides insights for the management to take better decisions.

PRICING

As mentioned earlier in this article, Nomisma is cost-effective and has the best features. The Bookkeeping module is offered by the company at £8 per month plus (+) VAT and the all-in-one package is available at £20 per month plus (+). Based on parameters such as price, usability and comprehensive features, Nomisma Solution is very competent small business software.



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