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Glossary

Accounting ERP Packages Australia

Accounting ERP packages are a suite of accounting programs designed to help accounting professionals manage accounts and perform accounting operations. The Accounting Package may include: Payroll, general ledger, accounts payable, accounts receivable, financial statements, stock or inventory management, Serial Batch Tracking, Bill of Materials, Purchase Orders and Sales Orders.

Business Accounting Software Australia

Business accounting software incorporates programs used to calculate, manage and record accounting procedures for a business, on their computer system.

Creditor Management Report

The creditor management report allows users to keep track of and reconcile creditor accounts. Creditors include any person or firm to whom money is due. Tencia’s easy to use interface allows for rapid data entry of supplier invoices, giving clients the insight required, to more effectively monitor the maturity of supplier debts.

Debtor Management

The debtor management feature allows users to keep track of important customer sales and credit information. Tencia gives users the ability to quickly and easily monitor customer’s outstanding balances. The simple and easy to use interface allows detailed on screen inquiries, providing up-to-date information, for efficient customer follow up and collection of outstanding amounts.

Australian Payroll Software

The Payroll feature within an Accounting Software package is the facility used to process, administer and manage employee details, including entitlements, payments, deductions and bonuses. It is used to calculate salaries and wages, annual leave, reimbursements and many other entitlements.

Advanced Sales Analysis

The Advanced Sales Analysis feature, includes a collection of reports that account and present sales statistics, in various formats. These reports have been designed to assist in the analysis and interpretation of sales data.

Bill of Materials

The Bill of Materials feature provides users with a means of managing raw material stock levels, ensuring they are optimized by effective material requirement planning and stock control.

Cashbook

The Tencia cashbook maintains an up-to-date running balance of the user’s cash position, so they are fully informed of the organisations liquidity at any point in time and able to forecast future cash flow based on accurate data. This function is essential in today’s ever-changing business environment, ensuring constant information updates and maximum control.

Fixed Asset Management

The Fixed Assets feature easily maintains accurate and timely balances on assets, calculating both book and tax values. This gives users a complete movement and history of assets, including depreciation calculations, re-valuations, disposals and asset transfers.

Job Costing Software

Tencia’s Time/Job Costing Software is fully integrated to Creditors, Stock, Debtors, Purchase Orders, Bill of Materials, Payroll and General Ledger, increasing efficiency for the business. The Job Costing software is flexible enough to allow users to perform job costing, time costing or both.

Enterprise Resource Planning (ERP)

Enterprise Resources Planning or ERP is an enterprise wide information system, utilised by companies looking to monitor and coordinate resources, information and activities, needed to complete business processes such as order fulfilment or billing. Enterprise Resources Planning or ERP is utilised to assist an organisation in getting the most value out of their resources in the long term.

Customer Relationship Management (CRM)

Customer Relationship Management or CRM is a process of tracking and organising organisation contacts or customers and prospective customers. Tencia’s software integrates with business CRM software utilised to support these processes in gathering, entering and storing information about customers.

Inventory Management

Tencia’s stock module gives the user control over the entire stock cycle; from the initial purchase of the goods to the eventual sales, making it easy to track stock movements and inventory levels for accurate itemised stock management.

General Ledger

The General Ledger feature is an integral part of an accounting system. Tencia’s General Ledger offers real time data and is fully integrated, which is fundamental to ensuring the integrity and accuracy in financial information.

BAS Report

The BAS Report or Business Activity Statement is a form submitted to the Australian Taxation Office, by all businesses to report their taxation obligations. Balance Sheet A balance sheet or statement of financial position, is a summary or snapshot of a person or organisation’s financial situation. The balance sheet is comprised of three parts; assets, liabilities and ownership equity.

Small business
A small business has between 5 and 20 employees with a turn-over of $1 million - $10 million.

Medium business
A medium sized business has 25-50 employees and a turn-over of $20 million - $50 million.

Large business
A large business is more commonly referred to as corporation or enterprise. These organisations have in excess of 50 employees and $50 million plus in turnover.

Australian Taxation Office

The Australian Taxation Office is the Government’s principal revenue collection agency, ensuring that all legislative requirements are adhered to within accounting software solutions. Tencia has inherent functionality that integrates directly with the Australian Taxation Office, enabling businesses to easily and efficiently submit their business activity statements, in order to comply with Government legislation.

GST

GST or the Goods and Services Tax is a levy of 10% on most purchases within the economy.

For more information on Australian accounting software, Australian accounting packages, business software, business management software, job costing software Arrow Financials Software, or Tencia, please call Arrow; the leading supplier of Business Accounting Software in Australia, for your nearest distributor 1800 248 264 or Submit an online form.

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