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Highlight four accounting tasks performed by accounting software packages

Highlight four accounting tasks performed by accounting software packages

Answers

S Managing customer invoices, payments, outstanding balances, bad debts and customer
statements.
S Managing suppliers' invoices, returns, orders and payment due.
S Production of income statement showing the profitability for the period.
S Producing the VAT and other tax reports for submission to the revenue authority.
S Reporting on top selling products and most purchased items.
S Reconciliation of cash books and bank statements
S Reporting on total cash received and payments.
S Posting of bank account transactions and tracking the entity expense items.

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Kavungya answered the question on May 15, 2019 at 13:29

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