By Marlene Blevins
An accounting journal is a book where transactions of any kind are first recorded when they take place before being recorded in the different respective documents. With advancement in technology and the emergence of web-based businesses the concept of online journal diary has emerged. The merits of online journals are as outlined below.
The web-based journals use automated sequences of instructions in such a way that any activity in the website of the online business automatically gets recorded. When a person logs into the website, a record is made, when someone tampers with information or data on the site a record is also made. This works to prevent errors of original entry and to prevent fraudulent activities.
An automatic billing capability which sends out charges to clients when bills are due is the other advantages of web-based journals. The workload associated with offline journals when you are using manpower to go through all entries and send bills each billing period is a forgotten case with this. Invoices are created and automatically send to all clients.
Group emailing can be enabled for automatic emails. All you need is to create emailing groups of clients and you memorize the reports to be send, they will be send on the schedule you have set. In offline journals, you have to create these schedules and send them manually which is prone to delays caused by human errors or emergencies which are unavoidable.
The locations of your clients will be saved on the web-based journal when they access your business. This is information you can't get when you are using offline journals since you can't be asking clients where they come from. Having this information you can know which goods are needed more from which area. This can make you start marketing campaigns on that area on those products which will see your clientele grow meaning more sales and ultimately growth in profits.
The web-based journal gives an opportunity for multiple transactions to be recorded at the same time. With traditional journals, you can only record a transaction at a time. The web-based journal is thus able to save time for the employees of the organisation. This also ensures easier consolidation of the accounts at the end of the accounting period for two reasons. One, the consolidation is only a button click away and secondly because the system can run multiple functions at a time.
In web-based journals updates of transactions are done immediately as they happen unless there is technical error or server error on your site which happens very rarely. The bank transactions are updated immediately too error free. Sometimes hackers can get hold of your site and deface it losing all data in it but with the online journals which update in real time means all data that was in it and had been backed up will not be lost all you need is to use the backup to get back all the information you had.
The list of advantages of online journal entries does not end there. Due to automation of these entry recordings, operational costs of running the business will be lowered. You only need one administrator to be managing the journal.
The web-based journals use automated sequences of instructions in such a way that any activity in the website of the online business automatically gets recorded. When a person logs into the website, a record is made, when someone tampers with information or data on the site a record is also made. This works to prevent errors of original entry and to prevent fraudulent activities.
An automatic billing capability which sends out charges to clients when bills are due is the other advantages of web-based journals. The workload associated with offline journals when you are using manpower to go through all entries and send bills each billing period is a forgotten case with this. Invoices are created and automatically send to all clients.
Group emailing can be enabled for automatic emails. All you need is to create emailing groups of clients and you memorize the reports to be send, they will be send on the schedule you have set. In offline journals, you have to create these schedules and send them manually which is prone to delays caused by human errors or emergencies which are unavoidable.
The locations of your clients will be saved on the web-based journal when they access your business. This is information you can't get when you are using offline journals since you can't be asking clients where they come from. Having this information you can know which goods are needed more from which area. This can make you start marketing campaigns on that area on those products which will see your clientele grow meaning more sales and ultimately growth in profits.
The web-based journal gives an opportunity for multiple transactions to be recorded at the same time. With traditional journals, you can only record a transaction at a time. The web-based journal is thus able to save time for the employees of the organisation. This also ensures easier consolidation of the accounts at the end of the accounting period for two reasons. One, the consolidation is only a button click away and secondly because the system can run multiple functions at a time.
In web-based journals updates of transactions are done immediately as they happen unless there is technical error or server error on your site which happens very rarely. The bank transactions are updated immediately too error free. Sometimes hackers can get hold of your site and deface it losing all data in it but with the online journals which update in real time means all data that was in it and had been backed up will not be lost all you need is to use the backup to get back all the information you had.
The list of advantages of online journal entries does not end there. Due to automation of these entry recordings, operational costs of running the business will be lowered. You only need one administrator to be managing the journal.
About the Author:
When you are looking for information about an online journal diary, you can go to the web pages online here today. Details are available at http://www.journalways.com now.
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