Role of Accounting in Business Operations
by Bilal Akmal
Accounting in a business is a fundamental process that involves systematically recording, summarising, and interpreting financial transactions to provide crucial information for decision-making, planning, control, and performance evaluation. Its key roles include financial recording, reporting, decision-making support, planning and budgeting facilitation, performance evaluation, compliance with regulations, investor relations, and risk management.
Accounting serves as the backbone of a business, providing stakeholders with insights into its financial health, facilitating strategic decisions, ensuring compliance with legal requirements, attracting investors, and managing financial risks. Overall, accounting is essential for effective management and the sustainable operation of any business entity.
Features of Numla Advanced Accounting
Numla advanced accounting is a comprehensive solution that goes beyond mere bookkeeping, empowering businesses with the tools and insights needed to thrive in today's dynamic financial landscape. Numla advanced accounting is brimming with an array of features designed to streamline financial management and decision-making processes. Among its robust capabilities are:
Week 14 (01/Apr/24 → 07/Apr/24)
This week, we added some new features and improvements to Numla Accounting. These changes make the platform even better, helping businesses manage their finances more efficiently. Following is the list of new features added and enhancements made.
Week 16 (08/Apr/24 → 15/Apr/24)
This week, we added the following new features and made improvements to Numla Advanced Accounting.
Week 17 (22/Apr/24 → 28/Apr/24)
The following new features have been added this week.
Week 18 (29/Apr/24 → 05/May/24)
The following new features have been added this week.
Purchase Requisition Improvements
- Significant enhancements to purchase requisitions to simplify and expedite the procurement process.
- The request owner field is now read-only and prefilled with the employee creating the record. If no employee is designated, the system prevents the creation of the record.
- A new field, "Direct Manager," is added and auto-filled with the direct manager of the request owner. This field is also read-only and serves for initial approval notifications.
- The addition of the "Request Manager" field, initially prefilled with the direct manager, allows for subsequent approval routing based on direct manager approval.
- Each line item in a purchase requisition supports attaching a single file, enhancing documentation capabilities without mandatory fields.
- Automatic addition of related users as followers ensures streamlined communication and notifications within the system.
Numla Advanced Accounting offers a comprehensive suite of features designed to streamline financial management and empower businesses. With real-time reporting, multi-currency support, automated processes, and more, Numla Advanced Accounting is your solution for efficient accounting.
Experience the benefits of Numla Advanced Accounting
Take control of your organisation's financial management.