Accounting

Development of software for accounting automation

Accounting software optimizes, increases the efficiency and accuracy of financial transactions, thereby freeing up a lot of time and resources that can be redirected to business development. However, the issue of finance is very specific for each large company, which makes it difficult to find a ready-made product that would be ideal for solving all the necessary tasks. Therefore, the best solution in this situation is the development of individual software for the automation of accounting processes.

Why invest in custom accounting software development for business?

Custom development of accounting software requires investment, not only financial, but also time, since the technical implementation of such software can take more than one month. But what does the business get in return? Let's consider the main benefits for entrepreneurs in more detail:

• Save time. With powerful accounting software, you can spend less time on repetitive tasks like data entry, invoicing, or tax reporting because these processes can be automated.
• Minimizing errors. Working with company finances is a labor-intensive process that requires maximum precision, as each error can lead to legal consequences and fines. Accounting software operates on the basis of clear algorithms, which minimizes the human factor.
• Easy access to data. Accounting programs collect and store large volumes of disparate data and can provide information about the current financial status of the company in a convenient format, which allows entrepreneurs to make more effective decisions aimed at business development.
• Improving the efficiency of accounting. Modern software increases the speed and accuracy of financial transactions, which contributes to increasing profits and the company's competitiveness in the market.

What tasks do accounting programs solve?

Accounting programs help companies manage finances more efficiently and accurately, and to do this they solve a number of important tasks. We suggest considering the main ones in more detail:

• Financial accounting. One of the most important functions of accounting software is to maintain a company's financial records. Such programs automate the process of recording and classifying financial transactions, ensuring the accuracy and consistency of all data.
• Payroll management. Accounting software helps automate payroll calculations, taking into account tax deductions, contributions, and bonus accrual. This reduces the likelihood of errors and ensures that employees are paid on time.
• Formation and submission of reports. Accounting software automates the generation of financial reports and tax returns, in full compliance with standards and legal requirements. This reduces the burden on accounting and minimizes the likelihood of errors.
• Accounts receivable and payable management: Accounting software helps track incoming and outgoing payments, monitors invoice due dates, and sends timely reminders to avoid non-payment, allowing the company to build healthy financial relationships with customers and partners.
• Financial analysis and planning: Accounting software can generate various financial reports for data analysis, such as balance sheets, cash flow statements, and more. This helps the company make more accurate and informed decisions regarding future investments and expenses.
• Inventory and warehouse accounting. Accounting programs automate warehouse operations such as receipt, expenditure and monitoring of product balances, which improves inventory management, optimizes warehouse processes and reduces costs.

Main types of accounting software

There are several types of accounting software, classified by size, complexity of functionality, and data storage methods. Before planning software development, it is worth deciding which software best suits your company's needs:

• Commercial accounting software. It has a wide functionality and covers the needs of companies of any size. Such software automates many processes in the company, including payroll, generating tax returns, accounting for income and expenses, preparing invoices, etc.
• Enterprise resource planning (ERP) software. These are comprehensive solutions that integrate all financial and accounting processes with the rest of the company's business functions, such as production management, logistics and sales, providing a single information space. This increases data accuracy and improves operational efficiency.
• Cloud accounting software. Such solutions provide access to financial information and accounting functions via the Internet. They allow accountants to work with company data from anywhere in the world, without the need to install software on local devices, which can be useful for large enterprises with offices in different regions and countries. Cloud software is characterized by wide functionality and improved data security.
• CRM systems for accounting. CRMs automate customer and financial management, improving interactions and data accuracy. They help keep accurate records of financial data, track payments, invoices, and customer interaction history, making reporting and analysis easier.

Boxed and customized software - what's the difference?

All types of accounting software that we have reviewed can be classified by the development process into:

• Custom solutions - tailored to your business needs and specifics
• Ready-made applications are supplied in the format of a “boxed” solution with a limited set of functions.

Boxed solutions are implemented faster and are cheaper for businesses at the start, but they only provide companies with basic functionality that is almost impossible to fully customize for your processes. Moreover, they have many limitations and unnecessary functionality, which can cause difficulties in training employees and slow down business processes.

As a team of developers, we specialize in creating custom accounting solutions. Such services are developed from scratch, according to the individual needs of your company, which means they are more reliable, thoughtful, productive and efficient. Therefore, we will focus on this option.

5 Main Benefits of Custom Accounting Software

Custom accounting software provides businesses with several important benefits that help them manage their finances effectively and optimize their internal processes. We have identified five key ones:

• Adaptation to specific business needs. Individual digital accounting solutions are developed taking into account the unique needs of each company, so they are easily integrated into business processes and solve current problems more effectively.
• High data security. Individual software covers specific risks and potential threats of a particular business, and the ability to configure access and data encryption reduces the likelihood of leaks and unauthorized access.
• Flexibility and development opportunities. When creating a project from scratch, developers have the opportunity to think through the correct architecture of the project at the start, which will allow it to withstand any loads, and also make the product as flexible as possible, so that in the future it can be easily developed and adapted to the changing needs of the company.
• Integration capability. Solutions tailored to the individual needs of the company can be easily integrated with other processes such as inventory management, production, sales, etc. This increases the speed and accuracy of data exchange between different departments and allows the business to operate more efficiently.
• Ease of use. Individual software does not contain unnecessary functions and modules, making the interface of such software more intuitive and easy to use. Accordingly, you will have to spend less time on training staff, and the likelihood of employee errors will be minimal.

What technologies and tools for developing accounting software does AVADA MEDIA use?

To develop reliable and functional accounting software, we at AVADA MEDIA can use various technologies and tools. Usually, the stack depends on the software architecture and customer requirements, so it can differ significantly from project to project. Let's look at some of the technologies that help our developers create accounting programs that meet the requirements of modern users:

• Programming languages: Python — for projects with a lot of complex calculations and the use of AI and ML, Java — for creating high-load systems with microservice architecture, or PHP for implementing functional web systems. JavaScript is usually used for the frontend, or with Node.js for the server part.
• Frameworks: for the server side - Django, Flask, Yii2, Laravel or Spring, and for the client side - React, Vue.js.
• Databases: depending on the project requirements, we can use relational (PostgreSQL, MySQL) and non-relational (MongoDB) databases.
• Cloud storage: Amazon Web Services, Google Cloud Storage, Microsoft Azure.
• DevOps tools: Docker/Kubernetes for working with containers, Jenkins for continuous integration and delivery of software, and Git for code version control and teamwork.

Stages of accounting software development

Our main task is to develop software that will create real value for the client's company, minimize risks and help them manage finances more effectively. We provide a full cycle of project development, so we can guarantee the impeccable quality of the final product.

The main stages of development of accounting software in our company:

• Requirements analysis. We study the client's requirements and determine what software functionality needs to be implemented so that it covers all business needs. The result of this stage is setting specific tasks for technical specialists.
• Prototype and design. Based on the approved concept, we create an interactive prototype of the project, which includes the technical and information architecture of the software, UX and a detailed description of the functionality. After its approval, we draw an individual user interface that will ensure comfortable and intuitive interaction with the software.
• Programming and testing. We implement the project at the code level, which includes frontend and backend development of the product. In parallel with programming, QA engineers are involved in the work, whose task is to ensure that the software fully complies with the initial requirements and does not contain defects.
• Launch and development. We implement the product into the client's business processes, conduct staff training and provide all necessary instructions on working with the new software. Our experts can also take on further technical support for the project to ensure its continuous development and prompt elimination of potential technical problems in the future.

Benefits of developing accounting software in AVADA MEDIA

We perform a full cycle of accounting software development — from requirements analysis to integration of the finished product into the company's business processes and its subsequent technical support, and we also build effective communication with the customer at all stages of development. This gives our clients confidence that the final product will fully meet their expectations.

AVADA MEDIA is more than just a software developer. By contacting us, you acquire a reliable partner who will help your business develop successfully by using advanced technological innovations.

Are you ready to start developing? Contact us and let's start discussing your project.