When saving the sales invoice, the software will automatically update perpetual inventory records, sales journal, accounts receivable subsidiary ledger, and general ledger. Accounts receivable may be instantly aged and customer statements immediately printed. In addition, some programs will automatically post finance charges and print collection letters for past due accounts. Preparing Reports and Returns. The software makes monthly and annual accounting chores considerably easier.
All programs provide uncomplicated bank reconciliations.
Recurring sales or purchase transactions are easily scheduled for repetitive use. Aging of accounts payable and scheduling of payments are available at the touch of a few keys or the click of the mouse. The programs will prim out payroll tax worksheets that expedite preparation of quarterly and annual returns with one program capable of printing directly onto forms 940 and 941 and printing W-2 reports. The software's capacity to list data according to designated search criteria simplifies Filing of 1099s. Two of the programs print sales tax return worksheets that greatly facilitate the preparation of quarterly returns, particularly if the company reports to multiple states.