Whether you are an SME or early-stage start-ups, invoicing, purchase orders, and quotations form the core of your financial activities. While corporations can set up an infrastructure that supports decentralization, small businesses would opt for an integrated Accounts Payable platform.
How To Record Invoices, Payments, And Generate Reports Centrally?
Businesses can deal with invoices, record payments, and generate tax reports through a centralized accounts payable tool, such as Juntrax.
Juntrax offers a rich suite of services with the following customizable modules:
- Generation and direct-sharing of quotations: Create a quotation within a few clicks and share it directly with clients.
- Collection of purchase orders: Access & store the purchase orders conveniently through a centralized location.
- Creation of invoices: Enter the requisite details to create and assess invoices accurately.
- Recording of payments: Record the payment status and track the budget to increase efficiency as well as transparency.
- Generation of reports: Generate reports on cash flow, elements like revenue, expenses, tax, etc.
As one can see, a platform like Juntrax offers a holistic overview of all your financial data through an organized, well-documented repository. Users can enjoy a high degree of control over their budgets and monitor it closely.
Benefits of Centralizing the Invoice and Payments Processes
Having a centralized invoice and payments processing system can grant your business the following advantages:
1. Robust Documentation
Documentation at every stage, right from quotation sharing to reporting, makes it easier to track and manage finances. It also standardizes information capturing and processing uniformly throughout the organization.
2. User-Friendly and Time-Saving
When compared to tools like Tally, Juntrax is more user-friendly with its clean and modern design. The added advantage of real-time collaboration makes it easier to process tasks quickly and efficiently.
3. Easy to Operate
With its simplified user-interface, the platform is easy to operate and does not require the acquisition of any additional skills. The initial training and onboarding are sufficient to empower the staff to use it effectively.
4. Higher Regulatory and Tax Compliance
The different local, regional, and national tax structures can add to the complication to stay compliant. Fortunately, Juntrax comes with global taxation capabilities that can be customized as per the business location.
Since Juntrax eliminates manual human errors and relies on algorithm-based practices, companies will enjoy greater compliance and reduced risks. Further, the reporting features make it easier to carry out audits and file taxes. Users can download these reports in the Excel format without losing out on the functionality.
5. Additional valuable features
Features like direct email sharing of quotation/invoice, payment reminder systems, order tracking, and invoicing based on employee work-hours can reduce the administrative load and manual intervention required during processing or creating payables & deliverables.
Choose Smart, Choose Juntrax
Juntrax is an intelligent sale-purchase management software that offers a single, integrated platform to manage all of the above tasks. From maintaining a vendor & client directory to recording or tracking payments – everything is possible with Juntrax!
