Amazines Free Article Archive
www.amazines.com - Wednesday, December 11, 2019
Read about the most recent changes and happenings at Amazines.com
Log into your account or register as a new author. Start submitting your articles right now!
Search our database for articles.
Subscribe to receive articles emailed straight to your email account. You may choose multiple categories.
View our newest articles submitted by our authors.
View our most top rated articles rated by our visitors.
* Please note that this is NOT the ARTICLE manager
Add a new EZINE, or manage your EZINE submission.
Add fresh, free web content to your site such as newest articles, web tools, and quotes with a single piece of code!
Home What's New? Submit/Manage Articles Latest Posts Top Rated Article Search
Google
Subscriptions Manage Ezines
CATEGORIES
 Article Archive
 Advertising (133321)
 Advice (160962)
 Affiliate Programs (34735)
 Art and Culture (73690)
 Automotive (145680)
 Blogs (75057)
 Boating (9840)
 Books (17218)
 Buddhism (4125)
 Business (1328593)
 Business News (426311)
 Business Opportunities (366264)
 Camping (10962)
 Career (72734)
 Christianity (15844)
 Collecting (11637)
 Communication (115054)
 Computers (241956)
 Construction (38997)
 Consumer (49681)
 Cooking (17061)
 Copywriting (6567)
 Crafts (18204)
 Cuisine (7538)
 Current Affairs (20388)
 Dating (45780)
 EBooks (19687)
 E-Commerce (48204)
 Education (185249)
 Electronics (83499)
 Email (6392)
 Entertainment (159832)
 Environment (28937)
 Ezine (3039)
 Ezine Publishing (5446)
 Ezine Sites (1550)
 Family & Parenting (110900)
 Fashion & Cosmetics (196390)
 Female Entrepreneurs (11842)
 Feng Shui (130)
 Finance & Investment (310274)
 Fitness (106140)
 Food & Beverages (62868)
 Free Web Resources (7938)
 Gambling (30225)
 Gardening (25108)
 Government (10513)
 Health (629556)
 Hinduism (2205)
 Hobbies (44044)
 Home Business (91557)
 Home Improvement (251361)
 Home Repair (46137)
 Humor (4823)
 Import - Export (5453)
 Insurance (45130)
 Interior Design (29553)
 International Property (3485)
 Internet (190990)
 Internet Marketing (146338)
 Investment (22825)
 Islam (1167)
 Judaism (1356)
 Law (80490)
 Link Popularity (4591)
 Manufacturing (20842)
 Marketing (98779)
 MLM (14136)
 Motivation (18213)
 Music (27005)
 New to the Internet (9479)
 Non-Profit Organizations (4048)
 Online Shopping (129617)
 Organizing (7803)
 Party Ideas (11856)
 Pets (38079)
 Poetry (2234)
 Press Release (12674)
 Public Speaking (5618)
 Publishing (7523)
 Quotes (2407)
 Real Estate (126625)
 Recreation & Leisure (95279)
 Relationships (87563)
 Research (16158)
 Sales (80322)
 Science & Technology (110221)
 Search Engines (23454)
 Self Improvement (153102)
 Seniors (6232)
 Sexuality (35942)
 Small Business (49286)
 Software (82995)
 Spiritual (23465)
 Sports (116081)
 Tax (7658)
 Telecommuting (34066)
 Travel & Tourism (307422)
 UK Property Investment (3121)
 Video Games (13428)
 Web Traffic (11727)
 Website Design (56829)
 Website Promotion (36569)
 World News (1000+)
 Writing (35770)
Author Spotlight
ADRIAN JOELE

I have been involved in nutrition and weight management for over 12 years and I like to share my kn...more
ALFRED MEARS

Former English Teacher; Musician (20+ years); Freelance Writer ...more
BELINDA SUMMERS

Belinda Summers works as a professional consultant. She helps businesses increase their revenue by l...more
CACEY TAYLOR

Im just a man who likes to be happy and see others happy. Im into home business, sports, family, and...more
SHOVON JOARDER

Shovon Joarder has been working as Freelance Marketing Project Manager for over four years. He also ...more


Some types of financing software an NBFC should hire: Part I by Leon Grant






Article Author Biography
Some types of financing software an NBFC should hire: Part I by
Article Posted: 12/02/2015
Article Views: 113
Articles Written: 640
Word Count: 540
Article Votes: 1
AddThis Social Bookmark Button

Some types of financing software an NBFC should hire: Part I


 
Business
Non-banking finance companies function the same like a bank, except the deposit. That’s why, they also take huge responsibilities in terms of business. Hiring the right type of accounting software makes this hectic task, smooth and hassle-free.
Non-bank financial companies or NBFCs are the commercial organizations that provide all kinds of banking services, but is not registered as a bank. They are not allowed to take deposits from the public depending on the jurisdiction. However, they have to follow all the banking policies before making any function.
NBFCs are more a business than a finance company. They cannot accept demand deposits, cannot issue demand drafts and cheques drawn on itself. Unlike banks, NBFCs are amalgamated under the company act of 1956. They cannot accept or renew public deposits for 12 months to 60 months. Their deposits are not insured. The repayment of deposits is not guaranteed by RBI.
Still, these firms carry a significance, especially in the rural areas for their simplicity and plays an important role in the development of economy. Accounting is the major thing here, which includes monetary transactions, the loan and EMI calculations, the debt clearance and many other functions. An accounting software makes this job easy by offering a wide range of applications that can acclimatize work flow as per requirement. It is used to assess the economic feasibility of the business and allows the company to enter in expenses like payroll and equipment expenses and revenues like income from sales.
NBFCs also purchase accounting software for the proper administration. But before deciding which software to use, you should know about different types of software.
Our market provides many types of NBFC Financing software, some of them are simple, some complex. They follow two main modules. That are-

Core modules

These are the system and the process of using a finance software.
Payable Accounts- It is the series of accounting transactions which enables the payment of money the company owes. The bills are also entered here.

Receivable Accounts- This series of accounting transactions enters the billing report of consumers who owe money to any person or organization. It is generally done by writing an invoice and mailing or delivering it to each customer.

Billing Service- It is a procedure of sending accounts documents or invoices to clients.
General ledger- Also known as the nominal ledger, is the financing record of a business for the accounts including present possessions, static belongings, obligations, income and expenditure products, gains and losses, kept by using double-entry book keeping. It also consists of the records of collection and payment of money.
Stock/Inventory- This is the list of goods and materials held available in stock.

Some of the non-core modules offered by the NBFC Financing software are below,

Monetary Outlay- Expense are like assets or liability. The expenditures dealing with trade are entered here.
Collecting Debt- Here, the company gives efforts to accumulate unpaid bills.
Other things to be discussed in the next part.

Leon Grant has performed a series of interview with the non-banking finance company of many countries. His survey has proved that the NBFC financing software is popular because they have some inbuilt features which makes the work smooth and fuss-free.

Related Articles - NBFC, Financing, softwares,







Email this Article to a Friend!

Receive Articles like this one direct to your email box!
Subscribe for free today!

 Rate This Article  
Completely useless, should be removed from directory.
Minimal useful information.
Decent and informative.
Great article, very informative and helpful.
A 'Must Read'.

 

Do you Agree or Disagree? Have a Comment? POST IT!

 Reader Opinions 
Submit your comments and they will be posted here.
Make this comment or to the Author only:
Name:
Email:
*Your email will NOT be posted. This is for administrative purposes only.
Comments: *Your Comments WILL be posted to the AUTHOR ONLY if you select PRIVATE and to this PUBLIC PAGE if you select PUBLIC, so write accordingly.
 
Please enter the code in the image:



 Author Login 
LOGIN
Register for Author Account

 

Advertiser Login

 

ADVERTISE HERE NOW!
   Limited Time $60 Offer!
   90  Days-1.5 Million Views  

 

Great Paranormal Romance


GENE MYERS

Author of four books and two screenplays; frequent magazine contributor. I have four other books "in...more
STEPHEN BYE

Steve Bye is currently a fiction writer, who published his first novel, ‘Looking Forward Through The...more
LAURA JEEVES

At LeadGenerators, we specialise in content-led Online Marketing Strategies for our clients in the t...more
SUSAN FRIESEN

Susan Friesen, founder of the award-winning web development and digital marketing firm eVision Media...more
STEVERT MCKENZIE

Stevert Mckenzie, Travel Enthusiast. ...more
TIM FAY

I am not a writer nor am I trying to become a writer. I am an average person with average intelligen...more
MICHAEL BRESCIANI

Rev Bresciani is the author of two Christian books. One book is an important and concisely written b...more
KIRAN KAUR

Kiranpreet (Kiran) Kaur, D.D.S., who received her Doctor of Dental Surgery degree from the prestigio...more
STEVE BURGESS

Steve Burgess is a freelance technology writer, a practicing computer forensics specialist as the pr...more
JOANNA MORGAN

Joanna Morgan has a huge passion for making money online from home and enjoys traveling around the w...more

HomeLinksAbout UsContact UsTerms of UsePrivacy PolicyFAQResources
Copyright © 2019, All rights reserved.
Some pages may contain portions of text relating to certain topics obtained from wikipedia.org under the GNU FDL license