Software as a Service, or SaaS, has innumerable applications. Of those multiple applications, accounting software is probably one of the most popular and/or most widely used. When the accounting software also functions in real time, you get the most accurate and up-to-date listings of all of your financial accounts. If you choose to move into this particular technology with SaaS, here is what you and your consumers can expect from this software package.
Automatic Billing and Real Time Collections of Accounts Receivable
When you work with real time software, there is no waiting around for bills to be paid or money to be received. Your consumers are billed automatically and payment is promptly taken. Not only does this simplify your accounting, but also your consumers' accounting because they can see exactly what was taken from their financial accounts and when. As an added bonus, some of this software sends your consumers an itemized bill via email, alerting them to the fact that they paid the bill and this is their receipt for the charges.
Charge Tabs Are in Real Time Too
If you request a credit or debit card to which charges may be applied, the consumer can charge goods and services to his/her account with your business. Both you and the consumer can see the charges and credits (for returned items) in real time, even if the card is not fully charged until the end of a business week. Any time your consumers want to see their charges, you can send them the invoice or statement that has steadily been created over the last several hours, days, weeks or even months. Consumers can close out their accounts and promptly pay their bills at any time, and have the funds transfer from their accounts almost instantly to yours.
All Charges for Items "Purchased" Are "Soft" Charges Until Finalized
The other nice advantage of real time accounting SaaS is that all charges for items "purchased" are "soft" charges until finalized. That means that both you and the consumers can see the pending authorizations against their cards and accounts, but there is still time for the consumer to reverse any of these charges and return products and services as needed. Refunds only occur after all charges have been successfully completed, which usually only takes a couple of days after a consumer has cleared and closed the account. If you are interested in acquiring real time accounting software in SaaS format, talk to someone at GP Saas about these types of programs.
To learn more, contact a company like MSPartnership.