Tips To Choose The Best Accounting Software

Do you know what is an accounting software? What are its benefits? How can you select the best accounting software? I think these are the common doubts that we have while thinking about an accounting software.

Let's start with the term, accounting software. Actually, what is it? Accounting software is a computer software that is used to manage accounts and to perform accounting operations. Accounting software is useful to keep the records of each transaction. It is useful for small business to automate day to day tasks. If you are planning to start a business, then this should be the first software that you should buy because it will be very useful to track your income and expenses.

What are the benefits of accounting software?

Following are the benefits of an accounting software Bahrain -

⦁ Data entry will be simple
⦁ Reports can be generated automatically
⦁ Can save price and time
⦁ Accurate forecasting
⦁ Useful to minimize errors
⦁ Improve productivity
⦁ Simplify tax compliance
⦁ Can improve relationships with customers
⦁ Financial data will be secure

How to choose the best accounting software?

Selecting the best accounting software Bahrain is not at all an easy task. Business owners should have a clear picture of their business then only they will get an idea about what kind of software they have to use. The accounting software that you are going to select should handle payroll, inventory management, and cost accounting. You have to decide whether you need an online software or offline software. It will be better if the software can support multi-currency transactions. Apart from this, to get the best accounting software, consider the following factors -

⦁ Check whether it has an integrated invoicing module
⦁ It should be customizable
⦁ It should be user-friendly
⦁ It should be secure
⦁ Check whether it is affordable

Also, try to get in touch with the people who have used that particular accounting software Bahrain. It will be useful to know more about that software. You can schedule a demo of it to know more about it. Hope these points are clear to you. Nowadays many accounting software like iCresp is available. You have to choose the best one according to the factors discussed above.

Which Is The Best Van Sales Management System In Saudi?

Do you know what is a Van Sales Management System? What are its benefits? How can you get a van sales management system? Van sales management system is useful for managing van sales, distribution and route accounting efficiently. This system will be suitable for distributors to manage their daily transactions. Van sales ERP system will be useful to automate mobile sales which will be good to improve the sales cycle and it will reduce your workload.

What are the advantages of van sales management system?

The key benefits of using Van sales management system are as follows -

⦁ Improves sales and accounting cycle
⦁ Reduce manual data entry
⦁ Accurate data
⦁ Accurate route definitions
⦁ Sales promotions
⦁ Improve stock visibility
⦁ Real-time inventory management
⦁ Better productivity

                                             
Hope now you got some idea about van sales management system and its benefits. I think now you are looking to find the best van sales management system. Am I right?

Today, different types of van sales ERP software are available so that you may face some difficulty in choosing the best one. All you have to do is to make sure that the software which you have chosen can be customized to your business and check whether it is robust, flexible and user-friendly. If a software meets these criteria, then you can select it. Do you have some confusion in choosing the best van sales management system in Saudi? No need to worry. iCresp will be suitable for you. This ERP system software can be customized to any kind of business.

iCresp includes tablet-based android application and web-based ERP to manage marketing executives and business operations respectively. One of the most attractive features of this software is that its android application can work in offline mode. This android application will be useful for marketing executives to manage their daily tasks such as sales, receipts, sales return, quotation etc. Managers can check whether the executives are meeting their assigned tasks.

Want to know more features of this van sales management system Saudi? Then refer : http://www.icresp.com

VAT Return Filing in Bahrain 2018

You have heard that Bahrain is going to introduce VAT from January 2019, right? Actually, they have introduced it at a rate of 3-5% from the mid of 2018 itself and became the third GCC member state to introduce VAT. The minister of finance in Bahrain has appointed a tax authority to administer VAT. As a result of this, all companies have to register for Value-added tax and the authorities will take actions against the companies which have failed to do this.

Depending on local VAT regulations, VAT will vary for each GCC member state according to the place of supply. The majority of people have a lot of doubts about this like -

• When will be the VAT due
• Do we want to keep VAT invoice
• How can we do VAT return filing
• What is the threshold to register for VAT

VAT should be given before the supply of goods or services. We have to keep VAT invoices for at least 5 years from the year it was issued. But in the case of real estate properties, it should be kept for 15 years. The minimum VAT period is 1 month. Do you have a doubt that is there a threshold to register value-added tax? Yes, there is a threshold of BD 37,700.

What is VAT Return?

A VAT return is a formal record statement of paid VAT for goods and services during a specific period. It can be paid on a quarterly basis and monthly basis. If you paid the VAT tax, then you can file the VAT return. VAT return is a proof of tax payment. Now you might be thinking of how to file this. Am I right? If so, continue reading this.

How to File VAT Return?

VAT return filing in Bahrain is easy. There will be e-filing portal provided by the tax authorities. You can easily file VAT returns through this portal. Keep in mind that you can't file this in an offline mode. Don't feel that it is a hectic task because VAT return filing is very important. Through this filing only, you can inform the system about the VAT tax that you have paid. Actually, this filing method is a digitized way to store the details of taxes that you paid.

Hope now you might be aware of the importance of VAT and VAT return filing. Since all companies have to follow these rules, it will be better to try some VAT enabled ERP software like iCresp to manage your business efficiently. This software will be useful to reduce tax issues, accounting issues, penalties for VAT tax, manual data entry issues and so on.