financial management system
AssistTech's FMS is an adequate financial management system enhances short- and long-term business performance by streamlining invoicing and bill collection, minimizing record-keeping redundancy, ensuring compliance with tax and accounting regulations, helping personnel to quantify budget planning, eliminating accounting errors, assisting personnel to quantify budget planning, and offering flexibility and expandability to accommodate change and growth.
Other significant features of a good financial management system include:
- Keeping all payments and receivables transparent
- Amortizing prepaid expenses
- Depreciating assets according to accepted schedules
- Keeping track of liabilities
- Coordinating income statements, expense statements,
and balance sheets - Balancing multiple bank accounts
- Ensuring data integrity and security
- Keeping all records up to date
- Maintaining a complete and accurate audit trail
- Minimizing overall paperwork
