Universal Accounting Software Pricing, Reviews and Features (June 2023)

Universal Accounting Software Features Show All Features

Retail Features

Sales TrackingHelps to track sales systematically
Returns ManagementHelps with the supply chain management including returns, gatekeeping, reverse logistics, etc.
Multi-LocationThe Multi-Location Accounting feature of Connected Business is a feature that allows companies, who have multiple locations or branches, track the financials per location. Some multi-location companies forgot how important reaching their local customers was. When companies started marketing online, they believed their success would be found through nationalization. So, they built huge websites to compete with the online-only providers. They found some success, but they lost the advantages of targeting local customers. All of this was done to protect the corporate brand and image and save on resources. But then the web became more local. With the advent of the smartphone, more customers started reaching out to local businesses through the web. Suddenly, reaching customers locally became more important than ever.
Gift Card ManagementManages prepaid payment card processing that helps the cardholder purchase goods online or within a specific retail store
eCommerceAn eCommerce integrated system allows users to carry out all their transactions starting from registration to making the payment through a Single Sign-On (SSO). As they don't have to switch between multiple platforms, they get a seamless browsing experience which in turn helps boost your sales.
Customer DatabaseHelps with a collection of data assembled from each customer.
Inventory ManagementInventory management refers to the process of ordering, storing, using, and selling a company's inventory. This includes the management of raw materials, components, and finished products, as well as warehousing and processing of such items. For companies with complex supply chains and manufacturing processes, balancing the risks of inventory gluts and shortages is especially difficult. To achieve these balances, firms have developed several methods for inventory management, including just-in-time (JIT) and materials requirement planning (MRP). nventory represents a current asset since a company typically intends to sell its finished goods within a short amount of time, typically a year. Inventory has to be physically counted or measured before it can be put on a balance sheet.
PurchasingProcurement or purchasing is the act of obtaining goods, supplies, and/or services. Therefore, project procurement is obtaining all of the materials and services required for the project.
Discount ManagementHelps in enjoying better visibility so that suppliers avail discounts

Accounting Features

PurchasingProcurement or purchasing is the act of obtaining goods, supplies, and/or services. Therefore, project procurement is obtaining all of the materials and services required for the project.
Tax ManagementThe aim of tax management is to ensure that the provisions of the Income Tax Act and related laws are followed. Through the tax management function of various tools, you can handle local and foreign tax rates.
Spend ManagementThe end-to-end management of an organization's spend is referred to as spend management. Spend analysis, spend categorization/classification, spend data management, and spend performance management are all covered. Spend management is a continuous and ongoing mechanism that aims to improve a company's bottom line by managing and maximizing its spending.
Revenue RecognitionRevenue recognition is a generally accepted accounting principle (GAAP) that identifies the specific conditions in which revenue is recognized and determines how to account for it. The revenue recognition principle, a feature of accrual accounting, requires that revenues are recognized on the income statement in the period when realized and earned—not necessarily when cash is received. Having a standard revenue recognition guideline helps to ensure that an apples-to-apples comparison can be made between companies when reviewing line items on the income statement. Revenue recognition principles within a company should remain constant over time as well, so historical financials can be analyzed and reviewed for seasonal trends or inconsistencies.
Project AccountingProject accounting is a type of managerial accounting oriented toward the goals of project management and delivery. It involves tracking, reporting, and analyzing financial results and implications, and sometimes the creation of financial reports designed to track the financial progress of projects; the information generated by this analysis is used to aid project management. While project accounting was traditionally used for large construction, engineering, and government projects, it has now expanded into several other sectors. It is commonly used by government contractors, where the ability to account for costs by contract can be a requirement for interim payments. A specialized form of project accounting, production accounting, is used by production studios to track an individual movie or television episode's costs.
PayrollPayroll is defined as the process of paying salary to a company’s employees. It starts with preparing a list of employees to be paid and ends with recording those expenses. It’s a tangled process that needs different teams such as payroll, HR and finance to work together. But, businesses can manage all the complexities effortlessly by choosing modern technology. Simply put, the process involves arriving at what is due to the employees for a particular payroll cycle after adjusting the necessary deductions like TDS, employees’ PF contribution, meal coupons, etc. A payroll cycle is the time gap between two salary disbursements. Businesses can opt to pay salaries on a weekly, bi-weekly, or monthly basis. Generally, it is processed every month in India.
Multi-CurrencyMulti-currency means using more than one currency (such as Canadian currency and American currency) in a multi currency bank account.
General LedgerA general ledger represents the record-keeping system for a company's financial data with debit and credit account records validated by a trial balance. The general ledger provides a record of each financial transaction that takes place during the life of an operating company.
Fixed Asset ManagementFixed asset management is the process of tracking and maintaining an organization’s physical assets and equipment. Asset types include vehicles, computers, furniture and machinery. Fixed asset management enables organizations to monitor equipment and vehicles, assess their condition, and keep them in good working order. In this way, they minimize lost inventory, equipment failures and downtime — and improve an asset’s lifetime value. Fixed assets such as servers, transport trucks and elevators require a large capital investment. They may comprise a large portion of a company’s net worth. In some businesses, as much as 40 percent of investment goes to buying equipment and vehicles. The better and more effectively a company manages its assets, the greater the prospect of maximizing value from these investments.
Expense TrackingBeing able to manage and track expenses is what keeps the project within a budget. Expense tracking means to track the expense that each project has.
CPA FirmsA Certified Public Accountant Firm (CPA firm) is simply a firm that is licensed in the state in which they operate and owned, at least in part by a Certified Public Accountant. CPA firms are comprised of auditors who conduct both public and private audit engagements. Apart from the auditors CPA firm usually consists of people at various levels in their accounting career. Hence, CPA firm consist of staff accountants and seasoned accountants who are experienced in all aspects of accounting. Most CPA firms, are auditing firms and seldom provide tax and accounting for the general public. While remaining CPA firms provide only tax and accounting services.
CollectionsCollections is a term used by a business when referring to money owed to that business by a customer. When a customer does not pay the business within the terms specified, the amount of the bill becomes past due and is sometimes submitted to a collection agency. When a business sells a product or service to a customer, payment is expected either at the time of the transaction or within a defined period of time such as 30 days. Unfortunately, some customers do not pay the business within those set terms and, at this point, the account can be considered in collections.
Cash ManagementThe method of gathering and handling cash flows is known as cash management. Individuals and businesses alike benefit from good cash management. It is an important part of a company's financial stability in business.
Billing and InvoicingBilling and invoicing feature allows you to bill project services directly to customers, employees and external service providers. Invoices can be created based on milestones, partial payments and final payments as well as at cost (time and material). Timesheets required in many industry sectors are generated by the system.
Bank ReconciliationA bank reconciliation statement is a summary of banking and business activity that reconciles an entity’s bank account with its financial records. The statement outlines the deposits, withdrawals, and other activities affecting a bank account for a specific period. A bank reconciliation statement is a useful financial internal control tool used to thwart fraud.
Accounts ReceivableAccounts receivable refers to the outstanding invoices a company has or the money clients owe the company. The phrase refers to accounts a business has the right to receive because it has delivered a product or service. Accounts receivable, or receivables represent a line of credit extended by a company and normally have terms that require payments due within a relatively short time period. It typically ranges from a few days to a fiscal or calendar year. Companies record accounts receivable as assets on their balance sheets since there is a legal obligation for the customer to pay the debt. Furthermore, accounts receivable are current assets, meaning the account balance is due from the debtor in one year or less.
Accounts PayableAccounts payable include all of the company's short-term debts or obligations. For example, if a restaurant owes money to a food or beverage company, those items are part of the inventory, and thus part of its trade payables.

Universal Accounting Software Technical details

Support

Business Hours

Customer Type

Medium Business Small Business

API

Location / Phone Number

Edgewater, New Jersey / 800-536-1633

Deployment

SaaS/Web/Cloud Installed - Windows

Official Website

http://www.u-a-s.com/specialty-retail-software/

Category

Retail Software Accounting Software

Universal Accounting Software Pricing

Pricing ModelFree Trial , Quotation Based

Custom

Features are

Efficiently-designed POS entry screen
Hot-keys and clicks speed up the process
Multi-store operations
Deliver efficient, personalized service
Quickly transform your computer into an efficient POS station
Flexible price structures provide the most versatile system
Integrated credit/debit card processing
Attach images, specifications, drawings
Extensive reporting equips you to optimize profitability
Take an immediate pulse of your business
Enter phone and pre-orders easily
Partial pickup/shipment
Driver`s License Scanning integration
Product returns
Due-From Driver function
Product replenishment and re-ordering
Luxury item sales
Generate barcode labels and plain item labels
Security controls allow you to tailor user-access
Client/Server or Cloud…take your pick

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Disclaimer: The pricing details were last updated on 07/06/2018 from the vendor website and may be different from actual. Please confirm with the vendor website before purchasing.

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