Features every online accounting software should have

With the need of accounting growing day by day, the number of online accounting software’s have also increased. And this need has lead to increase in the amount of features in the existing as well new online accounting software’s.

Although the number of features constituting the online accounting software’s have increased, it becomes important to choose the best amongst the available features. Features which cannot be compromised with and demand their presence in the online accounting software include:

1. Audit trail

Audit trail is something which looks small from business point of view but holds huge importance to the end user. What if the user needs to have a look at the deleted transactions? Or, what if the user wants to retrieve the transactions he deleted by mistake? The feature of Audit trail comes very handy at that time since keeps a trail of everything and lets the user know about it.

2. Certified by an online secure tool

It is also important for the online accounting software to be certified by an online secure tool, possibly, Trust E or VeriSign, or any other such secure tool. This is because the end user will lose interest in proceeding with online transactions since they are not secured.

3. Ability to sync with bank

The online accounting software should also be able to sync with the bank so that all the information with the bank and information with self can be exchanged easily.

4. Category-wise record of income and expenditure

It becomes very much important for the online accounting software to have a category-wise record of its overall income and expenditure. This feature comes very handy when the business and multiple products and (LOB) line of business.

5.User friendly

Not only should the online accounting software have a range of features, but it should also be user friendly so that the end user does not face any complexities while using the software.

6. Nitty-gritty but cannot-be-overlooked features

There are some nitty-gritty but cannot-be-overlooked features of online accounting software’s, a part of these features include, ability to manage even minute business transactions, generating monthly/annual business reports, and so on. These features might seem small but give an edge to the accounting software.