Akaunting

Accounts Payable

The Accounts Payable feature within Akaunting streamlines the process of managing your company's outgoing payments. It allows users to easily record and track bills, set payment due dates, and monitor outstanding obligations. This feature addresses the challenge of cash flow management by providing a clear overview of what is owed and when payments are due, helping businesses avoid late fees and maintain good relationships with suppliers.

Accounts Receivable

Akaunting’s Accounts Receivable feature enables businesses to efficiently manage incoming payments. Users can create and send invoices, set payment terms, and track customer payments in real-time. This functionality solves the challenge of revenue collection by providing clarity on outstanding invoices and overdue accounts, ensuring that cash flow remains healthy and predictable.

Bank Reconciliation

The Bank Reconciliation feature automates the process of matching transactions recorded in Akaunting with those on your bank statements. By simplifying this task, it helps identify discrepancies quickly, ensuring accurate financial records. This feature addresses the common issue of reconciling accounts manually, reducing errors, and saving valuable time for finance teams.

Billing and Invoicing

With the Billing and Invoicing feature, Akaunting facilitates the creation of professional invoices tailored to your business needs. Users can customize invoice templates, automate billing cycles, and send reminders for overdue payments. This feature solves the problem of inefficient billing processes by enhancing accuracy and professionalism while improving cash flow through timely invoicing.

Cash Management

The Cash Management feature provides a comprehensive overview of cash flow within your organization. It allows users to monitor inflows and outflows in real time, helping businesses make informed financial decisions. This feature addresses the challenge of managing liquidity by ensuring that you always have a clear picture of your available cash resources.

Collections

Akaunting’s Collections feature helps businesses streamline their receivables collection process by automating follow-ups for overdue invoices. It provides tools for tracking collection efforts and communicating with customers about their outstanding balances. This functionality addresses the challenge of delayed payments, enabling companies to improve their collection rates and maintain a steady cash flow.

Expense Tracking

The Expense Tracking feature allows users to easily record and categorize business expenses in real time. With capabilities for attaching receipts and generating expense reports, this feature simplifies expense management. It addresses the problem of hidden costs by providing visibility into spending patterns, enabling better budget control and financial planning.

Fixed Asset Management

With Fixed Asset Management, Akaunting assists businesses in tracking their long-term assets throughout their lifecycle. Users can log asset purchases, manage depreciation schedules, and monitor asset values. This feature solves the challenge of managing fixed assets effectively, ensuring compliance with accounting standards while maximizing asset utilization.

General Ledger

The General Ledger feature serves as the backbone of Akaunting’s accounting system by consolidating all financial transactions into one centralized location. Users can easily manage journal entries, view account balances, and generate financial statements. This functionality addresses the need for accurate financial reporting and compliance by providing a comprehensive view of all financial activities.

Multi-Currency

Akaunting’s Multi-Currency feature enables businesses to operate seamlessly across different currencies. Users can conduct transactions in various currencies, automatically convert amounts based on current exchange rates, and generate reports in their preferred currency. This feature solves the challenge of global trade by simplifying transactions with international clients and suppliers while minimizing currency conversion errors.

Payroll

The Payroll feature streamlines the entire payroll process by allowing users to calculate wages, withhold taxes, and generate payslips for employees effortlessly. This functionality helps address the complexities of payroll management by automating calculations and ensuring compliance with local labor laws, thereby reducing administrative burden on HR teams.

Project Accounting

Project Accounting allows businesses to track income and expenses associated with specific projects or jobs. Users can allocate costs directly to projects, monitor profitability, and analyze financial performance on a project basis. This feature addresses the challenge of project cost management by providing insights that help in budgeting and resource allocation.

Purchasing

The Purchasing feature simplifies procurement processes by enabling users to create purchase orders, track supplier information, and manage inventory levels efficiently. This functionality addresses challenges related to supply chain management by facilitating better order