Pegasus Opera II Business Accounting Software

Standing as the fastest selling accounting software, with over 50 enhancements and a polished, professional new interface, Pegasus Opera II Business Accounting Software has gained a massive 20,000 users in the last two years.

Pegasus is committed to excellence and has risen to become an industry expert with well over 20 years of experience. Pegasus is award wining in customer service and accredited by the Inland Revenue.

So what can Pegasus do for you? It has been redeveloped as a 32-bit product, making it a powerful Microsoft Windows compatible product, delivering a 32-bit solution. It integrates fully with your other Microsoft Office products and provides clear data that is up-to-date, meaning tracking stock, searching for BACS payments and browsing purchase history is just a click away.

The alerting and scheduling tools that you get with Pegasus Opera II Business Accounting Software allow you to improve the productivity of your business through tact and strategy when it comes to planning.

Pegasus Opera II keeps you on pace with your competition and the market, allowing you to take advantage of the opportunities as they arise.

Its advanced modular design means that you can add modules and expand functionality as your business needs grow. Pegasus Opera II offers your business more than just Accounting, it gives you; Financial and business management, eCommerce, Payroll and HR as well as Manufacturing.

Pegasus helps you to run your business more effectively and also more profitably. While you are busy being productive, Pegasus will be keeping an eye on the everyday running of your business, with management information at your fingertips.

Despite of the size of your company, it is possible to adapt Pegasus Opera II to fit the precise needs of your business. It gives you increased flexibility and wider access to management information as well as saving you time.

Since Pegasus Opera II is internet and email enabled it means that reports, sales and purchase documents, etc can be emailed to customers and suppliers. Other features of Pegasus Opera II are; cash management facilities, sales history, VAT 100 reporting, price lists, discount matrix, stock traceability, purchase invoice register, budgeting, real time updates, Electronic Payments/BACS, advanced POP, management reports and nominal consolidation.

Since 1982, Pegasus Software has been developing market leading financial management software, with Opera II being the focus of a significant amount of development. Building on its already strong foundations, it is clearly focused on the needs of businesses and delivers the market leading SME product.

By adding Pegasus Opera II to your organisation it will give you the ability you need and match the requirements you have. It is the most flexible and adaptable accounting and business solutions you can buy.

Pegasus Opera II is designed to grow with your business. It has an open architecture, allowing more information to be processed concurrently, creating a greater utilisation of hardware and operating systems.

Its flexible reporting and analysis functions put you in control of your business. It ensures your organisation operates as efficiently as possible through being a financial and business management solution.

Pegasus Opera II demonstrates a real competitive edge. It meets more business requirements than any other accounting system, helping customers manage their business to their full potential.

How To Choose The Best Accounting Software For Your Business?

With more and more people self employed and setting up businesses from home accounting software are becoming much more of a necessity. If your business is lucky enough to be growing rapidly you may have trouble keeping a track of all your finances. If you don’t want to spend every evening yourself going thorough the accounts you could pay an accountant to do all this for you, but this is costly and not feasible for small businesses that are starting out. The best way is to buy reputable accounting software. And if you get this right is could be a major investment for your business. But you don’t want to spend a lot of money on accounting software only to find out that a few months down the line your business is growing so rapidly and your accounting software cannot handle it.

The problem with accounting software is that there is no single best product that suits every businesses needs. To find the best software you need to evaluate what your needs for your particular business are. Some of the questions you need to ask are:

• What exactly do you want the software to do?

• Will it cope if my business trebles in a year’s time?

• Will the software meet my current and future needs?

• Does the package provide web integration?

• Can the software be customized? If so will it be capable of meeting your full requirements?

• Is the vendor reputable and do they offer customer and technical support?

• Does the software produce the reports your business needs?

• Is it easy to use?

The best way forward is to research your particular business accounting needs. Read reviews and find similar companies to yours and find out what software package they use and ask all the pros and cons of that particular software. There are many websites that evaluate and review software for you, but remember many businesses have different needs and are of a different size. And if your business is successful and growing rapidly then your accounting software needs to be able to have the resources to take on the extra accounts that it might produce in the future.

You must be careful not to buy accounting software because of its price. You may find some software that is very reasonably priced and then only to find out you have to upgrade it to it can run your business effectively. But this does not necessary mean that the more expensive software packages are any more suitable for your business. This is why you must be careful before you buy any software, research is a must. You might find all the different software packages on the market quite daunting and be put off and just buy one that’s in the price range you have available. And you may also use the excuse that you have little time to research what software package is most suitable. But a little amount of time spent before you purchase your software could save you an awful lot of hassle and time in the future. Don’t be afraid to ask companies for advice, they may tell you some horror stories they had and how to avoid these yourself.

How To Set Up A Simplified Accounting System For Your Home Business

A lot of home businesses fail because they lack the necessary financial system to track down the flow of their money. More often than not, home based business owners are not really very keen at keeping their books of accounts, thinking that as long as money keeps coming in, they will be alright.

Unfortunately, things are not really that simply when you are engaged in business. If you want to stay in business for a long time, you will need to keep track of your financial flow for your own use and for taxation purposes. Note that if you do not keep track of your income, sooner or later the IRS will be unto you and you will get into big trouble.

Setting up your own simplified bookkeeping system is not really very complicated. If you like to keep your records in your computer, you might want to buy accounting software or just simply use whatever programs that will allow you to make a spreadsheet in your computer to record your daily transactions.

However, you have some money to spare for an accounting program, it would be better to have one. There is a number of easy to use accounting software being sold in the market today. The good thing about these accounting programs is that you do not need to worry about balancing your books of accounts. You simply input all your data in one page and the program will run on its own. Most accounting programs will automatically perform the different accounting process and will immediately update your statements of accounts. Retrieving data from an accounting program is also easy. All you need to do is to go to it archives and select which ones you want to see. For instance, if you!

want to know how much your net income is for the month, you simply pull-out the income statement page and you will see your income instantly. Another advantage of using a computer accounting program is that you get rid of all the papers and ledgers in your workplace.

Now, in case you are not comfortable using your computer to balance your books, then you just have to you things the old-fashioned way. What if you do not know anything about accounting processes? Never mind if you are not good in accounting and balancing statements of accounts, just keep a simplified records of your transactions. A three column worksheet will do nicely. You can easily find this type of worksheet in the bookstore. When dividing your worksheet, you can have one column for all the money you received in connection with the business, another column for all the money that you spend for your business and the third column will be for your running balance.

How To Choose Your Accounting System For Your Home Business

Your accounting system is a very important part of your business. Your accounting system allows you to have records of all of your expenses and other financial transactions. These records are important for both personal uses as well as for tax purposes. When it comes to choosing which accounting system you want there are tow choices. You can purchase accounting system software or you can do bookkeeping and accounting by hand. The choice between these two options is really a matter of which system works best for you personally.

Accounting System Software

You can purchase accounting software online or at a local office supply store. These products are usually easy to set up and easy to use. They can be expensive, though prices vary depending on the software company name brand. You can search online or you can speak with a representative at the office supply store for detailed information on each product.

Handwritten Bookkeeping

The uses of books and hand written accounting have been around for centuries. You don’t have to have a fancy journal; instead you can keep track of your finances in notebooks. Keep separate notebooks per area of spending. One notebook for payments another for invoices and so on.

With either of these choices it is very important to input your financial transactions in correctly. If even a slight mistake is made it can cause large amounts of trouble due to just the tiniest miscalculation. If you find that either option leaves you feeling uncomfortable you can choose to hire an accountant. Depending on your budget allowance, will depend on this option is available for you. Do some research for yourself. Look into all three of these options and see which will make your business life easier and which option will keep your affairs in the best order. You can look up more information on home business accounting online or at your local library. There are hundreds of books and websites available to help you know and understand accounting and the system that may suit you best.

Once you know which accounting system you want to use, begin immediately. You want to make sure that past payment information is updated and that all of your spending is calculated and recorded. These records will allow you to know what is being spent, if changes can be made to save money and if you are going to reach your profit goals. Accounting systems keep your business affairs and financial happenings in order that allows you to keep all of your focus on your business and not just the money aspect of it. Once you have your accounting service up and running you will be able to look back and smile. You’ll be glad you made the accounting system choice that you did.

Good Business Sense: Microsoft’s Free Accounting Solution For Sb

To be truly successful, you have to treat your business like a business, and good accounting practices are a big part of that. Yet only twenty percent of the twenty million small and home-based businesses in the U.S. use accounting software to track their business finances. Many home-based business owners’ “bookkeeping systems” still consist of pens, paper, and boxes stacked in closets. Worse, many more don’t keep records at all. They have no idea where, or if, they’re making or losing money.

There are two main reasons business owners cite for not automating their finances and getting their businesses in order: price and complexity. However, according to Eric Gilmore, Product Manager for Microsoft Office Accounting, Microsoft’s latest edition to their Office line-up eliminates both those excuses. Says Gilmore, “Office Accounting Express is available for FREE, no strings attached, no training required, at http://IdeaWins.com.” Designed to be simple and user-friendly, the software necessitates no training manuals or courses and can be downloaded for free.

Simplify, Simplify

What does automating your finances do for your home business? It does several things, actually:

•It saves you a tremendous amount of time. You no longer have to manually enter and re-enter data again and again—you can enter it once, and re-use it across different applications. Many tasks that had to be performed manually also become quicker and easier. With automated accounting, you can create quotes and invoices that you can export to other programs and customize for your business.

•It helps you organize your finances. Utilizing accounting software lets you track your expenses, your profits, even your employees’ hours. When you can clearly see where money is coming in and where it’s going out, you can see what areas are profitable for you and where you need to make adjustments. You also know you’re not paying too much in taxes; and should you ever be audited, you have good records to back you up.

•It simplifies your online business transactions, accepting credit cards and PayPal payments. With Office Accounting Express, you can use Microsoft’s merchant account provider or your own merchant account, integrating that account with your software. Through Equifax, you can monitor your customers’ credit reports, right in the application itself. With a few simple clicks, you can convert a quote to an invoice, email it to a customer, and accept their payment online.

Employing accounting software helps you run your business more efficiently and streamline your processes. You can save a great deal of time and you’ll be better equipped to handle your company’s growth, because you’ll be in control. Says Gilmore, “This new software is free and incredibly simple to use—so whatever excuse you’ve been using for not getting your business organized, it’s no longer valid.”

Business Accounting: 7 Steps To The Best Software Solution

It is important to know in business where money is coming in and where it is going out. As such, accounting is one of the most vital processes in any business. It is even more important than developing products and selling. The management of the flow of revenues and expenditures is what ultimately makes a business fail or succeed.

Accounting is simply called the language of business. The requirements of every business may vary, but the general requirements of a business like collecting, classifying, reporting and analyzing of financial data is what constitutes the crux of accounting.

An enterprising businessman always looks for opportunities to make accounting simple. Without proper accounting process, your prospering business can take an unexpected nosedive towards bankruptcy. That is where the importance of accounting lies. Accounting is a critical component of a prospering business. It plays a role in every financial decision you make, like that of purchasing machineries and vehicles, equipment and supplies, to increasing production, selecting inventory quantity etc. But if you lack any extensive background in accounting, where do you begin?

Hiring an accountant is an option. But the best bet would be to invest in accounting software which aids you to save money and time as well. Maintaining accounts is challenging task. You may find it difficult and daunting to select the perfect software with so many options before you. However, remembering some criteria will help you in your endeavor. The following are the different aspects that you should keep in mind before purchasing any accounting software.

1.The first thing to take note of is your budget. That is, how much you are willing to pay for the software. Your software should be able to compliment your business, rather being a liability. Generally the more features the software supports, the more is the cost of it. Certainly, you do not need all the features available in the market. So according to your accounting needs pick a decent accounting software at reasonable price

2.Secondly, look for a software which is user-friendly and is easy to use. It should be compatible with your existing system, so that as you can cut on time in training your staff.

3.Scalability is another thing which you should keep in your mind before buying a software. It is particularly important for a growing business. You should choose a software imagining where your business would in future. A good accounting software should be able to grow as your business grows. It is always better to invest in a slightly costly accounting software that can compliment your business in future also.

4.Fourthly, you should be open to take in to account the views from different quarters, mostly from accountants. The views of accountants are important as they live and breath among this stuff. They are particular about the different business needs and their peculiar features requirement. You can only ignore their views at your own peril.

5.It is also important that your accounting software have all the features you need. It must have all the modules and reporting categories necessary for your business. Accounts payable and accounts receivable are some of the general modules an accounting software must have. Most of the accounting software come in different versions. You should look for a software which provides future versions also to match your future needs.

6.Value for money is the sixth aspect which you should keep in mind before buying. Selecting the right package means that you can get the best value. For the same lines of products, prices vary greatly. So just shop around. You can also purchase the product cheaply from online merchants such as Amazon or eBay.

7.Last but not the least, the manufacturer whose product you buy must provide after sales service. Most of the companies provide support after sales. But you have to think about local support which is more feasible. A perfect after sales support must have a complete FAQ package, a toll-free call center, and local service center.

All in all, the best thing would be to shop around, read some reviews and invest in software with expandable features. Your software must be capable of handling your growth. To sum up, you need to do some meticulous planning before purchasing. This smart decision to invest in a accounting software will save a lot of money and trouble in the future.

Accounting - All Businesses Need One.

As business becomes more and more global, and complexities continue to emerge, certain fields have gained prominence in today's career market. One of these is accounting. Accounting is a very conceptual career or task, more a question of information handling than any hands-on approach to product development. However, as trends change, accounting is becoming a little more diverse and less just a question of 'crunching numbers'.

These days, there are specific kinds of accountants who do separate jobs as part of a given company. There are accountants who monitor spending and resource use; these are called 'audit' accountants. Then there are other professionals who use accounting information to guide procedures and to facilitate decision-making, and these are referred to as 'management' accountants.

One could say that while audit accountants are involved in book-keeping history, management accounting is a process of looking to the future to try to foresee events and plan for these in terms of a company's resources. 'Ledgers' and classic ideas of accounting belong more to audit accounting, while management accounting deals directly with the machinery of a firm. Both positions require people skills and analytical skills; both types of accountants need to know how to use computers. Spreadsheet software like Microsoft Excel is popular in keeping accounting information available in a flexible format.

As to the issue of how the two are related, audit accounting is often considered more essential to small businesses. A small business may not need any more oversight than the owner or general manager can provide, but someone always had to keep the books. Also, in management, the old adage may apply that 'too many cooks spoil the broth'. Management accounting seems to be a more useful role in large companies that need many consultants to micro-manage a variety of projects.

In general, accounting is becoming a popular career choice. Some may shy away from it due to an aversion to how accountants have been described in the past. Some people 'don't like numbers' and consider accounting work to be unbearably dry or tedious. Others, however, have already completed their degree to become a CPA (Certified Public Accountant) and these may find themselves well placed in high-profile audit accounting positions. For others, management accounting provides a new look at a classic career.

Either way, the study of this valuable field can be a good way to get into a certain kind of company. many companies are hiring temporary accountants, and the abundance of opportunities means that employers and university graduates may be able to find each other through the phenomenon of accounting, as the majority of businesses turn their efforts toward the study of resource allocation, asset management, or more simply, crunching numbers.

How is accounting used in business?

It might seem obvious, but in managing a business, it's important to understand how the business makes a profit. A company needs a good business model and a good profit model. A business sells products or services and earns a certain amount of margin on each unit sold. The number of units sold is the sales volume during the reporting period. The business subtracts the amount of fixed expenses for the period, which gives them the operating profit before interest and income tax.

It's important not to confuse profit with cash flow. Profit equals sales revenue minus expenses. A business manager shouldn't assume that sales revenue equals cash inflow and that expenses equal cash outflows. In recording sales revenue, cash or another asset is increased. The asset accounts receivable is increased in recording revenue for sales made on credit. Many expenses are recorded by decreasing an asset other than cash. For example, cost of goods sold is recorded with a decrease to the inventory asset and depreciation expense is recorded with a decrease to the book value of fixed assets. Also, some expenses are recorded with an increase in the accounts payable liability or an increase in the accrued expenses payable liability.

Remember that some budgeting is better than none. Budgeting provides important advantages, like understanding the profit dynamics and the financial structure of the business. It also helps for planning for changes in the upcoming reporting period. Budgeting forces a business manager to focus on the factors that need to be improved to increase profit. A well-designed management profit and loss report provides the essential framework for budgeting profit. It's always a good idea to look ahead to the coming year. If nothing else, at least plug the numbers in your profit report for sales volume, sales prices, product costs and other expense and see how your projected profit looks for the coming year.

Accounting Outsourcing Service to augment your business prospects

Are you unable to keep a tab on the heavy accounting work undertaken by your accounting firm? This is just no reason for anyone to despair about his/her business prospects. Opt for accounting outsourcing service from an outsourcing firm to meet hectic customer demands. Accounting is a seasonal business, which witnesses heavy demand from customers to get their tax returns prepared and pay their taxes timely. This is the time when accounting outsourcing service comes as a boon to accounting firms and CPAs.

Several outsourcing companies deal with accounting and provide their clients with accounting outsourcing services. If you are eager about earning revenue through your accounting business, outsourcing the process is the best source for you. Accounting outsourcing services are offered considering the urgent requirements of CPAs and accounting firms to meet customer demand during the tax season in the US.

To run your accounting business successfully, you will have to choose a good outsourcing company which meets all your requirements. Take a few minutes out of your busy schedule to scout the best accounting outsourcing service provider to work for you. The World Wide Web is the best source for information regarding bookkeeping outsourcing service.

While researching for a good outsourcing company, it is very essential to check out the different features provided by the company. See the different types of security features which are put in place for protecting customer’s financial security and personal identity by the accounting outsourcing company. In this age of advanced communication, it has become all the more important then ever to maintain strict secrecy about customer’s finical details and personal identification. Customer security must be of major concern for any outsourcing company.

Compare the cost offered by different companies for doing accounting outsourcing work. Opt for the firm which provides you good quality service at an affordable price. Sometimes however compromising on the price for the service offered to you can actually spell loss for a business. This is to say that always the highest price does not guarantee the best services and vice versa. So you must undertake careful considerations before you actually choose a company for doing the outsourcing work for your firm.

You can get many benefits and enjoy peace of mind by outsourcing your accounting work to an outsourcing firm. Accounting outsourcing service work is done by trained professionals in the developing countries. This means the cost of labor is low compared to other places. Professionals in developing countries are highly qualified, but lack job openings. So by accounting outsourcing your customers can get their work done by highly qualified professionals, without spending an extra cent.

Another benefit of accounting outsourcing service is that if you are at anytime not satisfied with the work done, you can fire the accountant and hire new ones for doing the job. With plenty of opportunities available, you will not find any dearth of talent and manpower in this field. There are plenty of opportunities open for you to explore on the internet.

Accounting outsourcing service spells instant success for a business. The simple reason for this is the reduced cost of the services provided. By accounting outsourcing service the entire method of accounting is made cost effective and simple for CPAs and accounting firms to handle.

Accounting In Business Management

In any part of the world, engaging in business ventures to participate in the ever growing number of players who want to make their mark in the business sectors will be one aspect that needs to be carefully studied. Key aspects that include the industry that anyone is planning to penetrate, the target market and the potential buying behavior of the consumer market are only some of the factors for consideration. A thorough study of the entire matter needs to be evaluated. It is not merely a venture wherein people can simply decide to put up a business and offer a service or good. Nor is it a matter of hiring the best marketing and sales people available today to ensure a successful business venture.

A business venture entails a lot of research work to be done. It needs consideration such as currency, basic necessities, affordability and brand familiarity. It is never simply about what the management team of a company that complete the whole business mix has. The need to also consider factors as actual consumer demands, the need for substitutes for a wider selection of variants and brands is what most consumers in the market today would look at and such is something that should be considered by would be entrepreneurs and business groups.

Such are points for consideration being taken into consideration in the overall evaluation and management process for Chin Chin products that are distributed today. The demand for products in areas such as Canada, the United States and the Philippines vary in nature, especially in terms of demand. Cultural familiarity and actual needs of consumers in the regions need to be carefully analyzed. It is not merely a question of trial and error. It is identifying what a consumer wants and would purchase for a specific price. While some would disregard this consideration, it is a step towards business disaster and corporate downfall. In any business planning ordeal, the key factor of targeting the right consumer market, assessing the volume of demand and supply and focusing on the actual goods that have potential that will surely be key indicators for successful business ventures.

The price at which people pay for a certain commodity or good would depend on the overall quality of products offered in the market today. This can range from basic needs to lofty paraphernalia that most people feel to be more of a vice rather than a need. Based on the belief using Maslow’s Hierarchy of Needs, people have changed to total viewpoint when it comes to detailing what the important needs of survival are today.

For people who are not adept in understanding the whole business methodology, there should be something more than just plain reference towards the financial statements of a company such as the Balance Sheet, Income Statement and the Cash Flows. People need to also consider the overall operations, the level of investments made and the paid-up capital before they would start bellyaching about poor corporate performance.

The operations aspect of companies should be taken into account. It is not merely relying on revenues and expenses and not overseeing what the company’s actual operations are. Administration is one thing and operations is another, and both must be addressed to have a fully operating business.

The need for broader analysis and understanding of such cases is a must. Top managers cannot simply judge from what they hear. They should be able to learn how to properly evaluate a business and financial statements do not show the entire business operations of a company.

Accounting For Home Based Businesses

Home based businesses are still businesses, and as such a financial accounting is needed for several reasons. Taxes are one of the most important reasons for a home business to keep accounting records to show money made and money paid. There are several ways to do this, and your knowledge of accounting practices is not a roadblock. Some small business owners think that since they work from home, income and expenses do not need to be tracked, but this is totally untrue.

Keeping account books and records can be done with a variety of accounting software available for sale. This type of software has easy to understand spreadsheets that make it very easy for a small home business owner to balance books and get an idea of the profitability of their home business. The software for these applications is made by a variety of trusted manufacturers, and some of these programs even have fields for important tax return information for the end of the year. These software programs greatly simplify bookkeeping for home businesses, even for someone with no accounting experience.

Some home business owners prefer to do things the old fashioned way, with a pencil and paper. With computer hackers and viruses out there, some owners would prefer not to keep their financial records on their computer. In this case, a general accounting ledger with three columns will work as effectively as the expensive software. One column can represent money that is received for the home business, one column can be used for money that is paid out on behalf of the home business, and one column can be used to keep the running balance of your home business. This accounting system is easy to use and follow, because each day every transactiion is recorded in the ledger. The ledger is also an important record for the tax preparation of your home business at the end of your fiscal year.

Accounting records are a very important part of running a home business. Whether you purchase software or just an old fashioned ledger, keeping track of the payments received and sent on behalf of your home business is a very important step in running a successful home based business. A lot of home business owners do not worry about accounting in relation to their home business, and this can be a fatal mistake for you and your home business. Make sure that you keep track of the accounting for your home business, and whether you use software or the old pencil and paper method, keep records of your financial dealings. This will ave you a lot of time and trouble at the end of the year.

Copyright © 2007 Joel Teo. All rights reserved.