In today’s world of advanced technologies and computers, everyone understands what software is, and in the world of accounting, there are software packages that have become powerful tools of the trade, so to speak. These software packages help with recording every financial transaction that is part of an operation through modular functions that pertain to accounts receivable, payable, trial balances, (for financial reporting), and payroll.
These software programs, or rather applications, have replaced physical journals and ledgers and have become the accounting information systems utilized throughout the business world because of their ease of use and operation. This latter point becomes evident in the ability of a business to have complete control over how the software package fits within their business model. In addition, using certain accounting software packages enables online accessibility coupled with its desktop functionality. The central operations of these software packages are:
Bookkeeping, (general ledger and journal)
- Accounts receivable
- Sales Orders
- Accounts Payable
- Stock & inventory
Envolta utilizes the following Accounting Software: