Question

Accountants rely heavily on using Excel to perform a wide range of activities to record transactions and report their results. Identify and discuss at least three (3) tools an accountant can use to make the recording and reporting of accounting transactions efficient and effective.

Answer 1

Answer:

The following tools can be utilized to make the chronicle and revealing of bookkeeping exchanges proficient and powerful.  

1. Tally:

Tally is a bookkeeping device used to record business exchanges, evaluating work costing, overseeing stock, producing reports for changed business purposes. It is exceptionally viable instrument for little and medium measured business. It works at a fast and gives precision and adaptability. It can likewise be tweaked according to the business needs. Top notch information uprightness checks at customary levels guarantee reliability on the records.  

2. Quick-book:

With the appearance of online instruments, Quick-book facilitates the assignment of the bookkeeper and aides in recording the exchanges in the most gainful and financially savvy manner.It assists spare with timing by handling mass exchanges rather than one at a time.The device gives generally perspective on the customers and help deal with the records productively.  

3. Sage-One:

Sage-One is facilitated on cloud and permits to get to the framework from any area. It assists with overseeing incomes, track cost and pay, record buy and deals, track and control stock development. It likewise permits to connection to web banking and interface with the cashbook. Different highlights incorporate dashboards, cites and gauges, planning reports.