Cash Flow Analysis Software

Written by Patricia Tunstall
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Cash flow analysis software saves the accounting department time and effort. Accountants no longer must plug in raw data each year and go through the painstaking process of comparisons to last year's report to find increases, decreases, and bottom line profit. With software, the department automates the procedure of financial analysis.

Daily, weekly, and monthly updates are revised and stored technologically so the crucial, annual cash flow statement is less of a burden. The days of handwritten ledger-type entries and summaries are gone for companies that can afford to purchase the computer systems and software. With data already retained in the system, accountants can turn their attention to other responsibilities.

Working with Management

Accountants and controllers are not just bookkeepers. They have many other complex duties and responsibilities in a company or corporation. They recommend to management the type of financial system to be used as the basis for periodic financial reports and for the mandatory annual report.

They also set up detection systems and internal controls to prevent or discover fraud and embezzlement, for instance. Their expertise is needed in many such vital areas that protect the company from damaging activities. Using time-saving, cash flow analysis software, accountants have more time to attend to establishing such essential systems.

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