Accounting review: Simplify your complexity with the right tool

October 21, 2019

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Regardless of the size of the company or its sector of activity, the use of accounting software can greatly facilitate financial management. This type of solution simplifies accounting review, performance management and risk management. This tool is intended to fully meet the expectations of the finance department.

Why use an editor for your accounting revision software?

 A software solution provider specializing in the design and integration of accounting revision software is the simplest and most cost-effective solution. Every publisher must offer a tool that exactly meets the expectations and needs of your company’s accounting managers.

Although there are many suppliers from whom you can find different solutions, if you need specific features, contact a manufacturer directly who can create the software you need for you. This is the most recommended option in order to have a powerful and reliable tool in the long term. The importance of the massive data and information produced by this type of tool requires prior verification of its effectiveness and reliability.

Depending on the case, software will be offered in SaaS mode (Software as a Service) or in license mode depending on the company’s requirements.

 What is accounting audit?

 This is an operation consisting in carefully checking all the company’s accounting balances before drawing up the balance sheet, but also on request in case of emergency. It is done in two stages.

The first will be the reconciliation of all balances in accounts 1 to 5 of the balance sheet, i.e. suspense accounts, cash accounts, customers, suppliers and others (tax, social security, etc.). However, each account requires a specific methodology, particularly with regard to the closing of the accounts. For borrowing and fixed asset accounts, reconciliation will be performed according to the depreciation and fixed asset tables.

The second concerns accounts 6 and 7 of the income statement. It will be necessary to proceed in 3 steps: check the accounting charges of expenses and income, the comparison of balances for the year ended with those of the previous year and an analysis of consistency with professional statistics. This is therefore a time-consuming and time-consuming task to be carried out at the end of each financial year, but nevertheless necessary to avoid errors that could lead to a complete correction of the balance sheet. Accounting revision software will simplify certain operations by automating them.

Talentia Software: your accounting and financial management software provider

Talentia is a well-known European provider of business management solutions. Having developed a suite of solutions to optimize company finance monitoring, we offer an effective response to the issues faced by companies of all sizes. And to better meet the expectations of our customers, we have developed products that can evolve in response to continuously changing regulations.

The tool we propose features a complete management solution that takes charge of each step in the operation and provides an objective, real-time view of tasks already completed. Risk of error or omission is virtually nil, but you can still identify unauthorized transactions that were carried out without your knowledge and are having negative effects on your cashflow and budget.

Finally, our accounting and financial management software features a tracking tool for all actions undertaken, enabling you to trace the source of any concerns.