If you have reached this article, then you are definitely one step away from purchasing a financial accounting program and are weighing up more than one option. If so, then you are in the right place.

In this article, we will provide you with a complete guide to the most important features and capabilities of financial accounting programs, according to which you can compare more than one program and make a sound decision in the end.

Whether your company is a startup, small, medium, or even large, you need to be familiar with these features and capabilities so that your choice is 100% correct. Ready? Let's go!

Types of financial accounting programs
First, we need to explain to you the difference between the different types of financial accounting programs so that you have a better and deeper vision of your needs and the most important capabilities that suit the needs of your organization.

The types of financial accounting programs differ not only according to their advantages and capabilities, but also according to the needs of institutions, and are divided according to this into the following:

Accounting programs that contain ready-made templates and specific input elements in their elements.
Cloud computing accounting programs, these programs work on cloud systems that are easy to access at any time and from any device, and a backup copy of that data is stored on their servers.
Programs that work with the (ERP) system, which are programs that include a number of integrated tools and applications such as managing financial and accounting data in all its details, managing customer service data, managing human resources, managing sales, etc.
📌 For more about accounting software, you can read this article: What are financial accounting programs? | Concept, importance, features and types

What are the features of complete financial accounting programs?
Inventory management
Sales management
Purchase management
Tax data management
Account management
Financial accounting programs contain a number of tools and systems that provide users at all levels of commercial and industrial sectors with ease and flexibility in use for more professional financial management. However, there are basic systems and features that must be available in any financial accounting program, which are as follows:

Inventory management
Inventory and item management has now become easier and more professional. Through financial accounting programs, you will be able to:

Record data for all items in detail in terms of (colors - sizes - types, etc.).
Record item prices in terms of cost price, wholesale price, and sectoral sale price.
Create and record a barcode for each item and link it to its item for easy access or inclusion in sales invoices.
Record supplier data.
Record all disbursement and supply permits for all items.
Easy inventory counting at any time and issuing various reports.
Create alert messages when any item in the warehouse is about to run out to create its purchase order.
Sales management
Financial accounting programs provide a professional management system for your organization's sales department to achieve your sales goals in terms of:

Record customer data and create a file for each customer containing all their transactions.
Record sales invoices and link each invoice to its customer for easy review.
Follow up on your customers' accounts, invoice collection dates, installment data and payment dates.
Enter returns data and link them to their sales invoices.
Record discount notices and link them to invoices and customer accounts.
Link each customer's file to the sales employee responsible for dealing with him.
Link the sales process to the employee commission percentage.
Purchasing management
One of the most important powerful systems that any accounting program should provide you with is the purchasing management system. Through this system, tracking your purchases is now done with ease, and knowing all the details of dealing with suppliers from one place. This is in addition to many advantages regarding managing your company's purchases through the following:

Enter all supplier data.
Create a file for each supplier containing accounts, payment dates and items for each supplier.
Record invoices and price data and link them to supplier files.
Record returned item data.
Enter data on items to be purchased, including data on required quantities, prices and agreed payment methods.
Tax Data Management
Tax management is one of the most important operations that every company must perform correctly and submit at its appropriate times to the relevant authorities; so as not to fall under the law or be exposed to legal violations. Through the financial accounting program, you will be able to:

Enter sales tax data for all items.
Record value-added tax data.
Link this tax data to your sales invoices.
Easily extract all tax returns for different time periods.
Account Management
By using the advantages of financial accounting programs, managing your company's accounts has now become easier and more flexible, without the need for any previous experience in accounting and without the need to perform complex equations. Through the program, you will be able to:

Record daily financial data from various expenses.
Record treasury data from bonds and revenues.
Record all company bank account data and track balances instantly.
Record partner account data.
Record check data and payment and due dates for each check.
Record all company asset data and depreciation data.
Linking the journal entries and sub-ledger entries with the general ledger to automatically record data once entered.
💡This is what the Fekra POS financial accounting and point of sale management program actually provides you with, in addition to a set of the latest advanced financial accounting systems.

❓Did you come across other systems and features of financial accounting programs during your search?

Financial accounting software capabilities
There are other advantages and capabilities included in financial accounting programs that help provide flexibility in performing workflow tasks. And