"Accounting" is a subfield of business management that deals with the recording, processing, and analysis of financial transactions and information. It includes accounting, financial reporting, cost accounting, tax accounting, and other aspects that serve to control and plan a company's financial activities. The aim of accounting is to ensure a reliable and transparent representation of a company's financial position and to provide the basis for informed management decisions.
Typical modules and functions of software in the "Accounting" area are:
Accounting: Recording and processing of financial transactions such as income, expenses, payments, and invoices.
Account management: Management of accounts for various financial categories such as bank accounts, creditor accounts, and debtor accounts.
Financial reporting: Generation of financial reports such as balance sheets, profit and loss statements (P&L), cash flow statements, and financial analyses.
Cost accounting: Allocation and analysis of costs to various cost centers, projects, or products to determine profitability and cost-effectiveness.
Asset accounting: Management of fixed assets including depreciation calculations, valuations, and disposals of assets.
Tax accounting: Recording and calculation of taxes as well as preparation of tax returns and documents in accordance with legal regulations.
Liquidity planning: Forecasting and monitoring cash flow as well as planning income and expenses to ensure the company's liquidity.
Budgeting and planning: Creation of financial budgets, planning of income and expenses, and comparison of actual results with planned values.
Internal control and compliance: Implementation of control mechanisms to ensure accuracy, reliability, and compliance with internal policies and external regulations.
Integration with other systems: Ability to integrate with other enterprise systems such as ERP (Enterprise Resource Planning) or CRM (Customer Relationship Management) for seamless data transfer and processing.