Fly Accounting

Description

About

Fly Accounting is an accounting application designed for freelancers & small businesses with the purpose of being able to keep record transactions and business assets. Accounting software is an important tool in business as it helps for stakeholders to evaluate the financial performance of a business to see whether or not it has a healthy cash flow which is needed to see if the business is performing as expected.

Features:

✔Management of sales
✔Management of general Inflows
✔Management of Payrolls
✔Management of Purchase Orders
✔Management of general Outflows
✔Management of the Business’s Inventory
✔Management of the Business’s Services Offered

Dashboard:

This section will give you an overview of the business. This information includes:

✔Name of Business
✔Occupation of the Business
✔Type of ownership of the Business
✔Revenue, Gross profit & Net profit
✔Total expenses, expenses from payroll & expenses from purchase orders
✔Basic information on the types of items offered such as products and services
✔Total number of sales within the current month with a graph showing which items have been sold

Inflow Overview

This section will give you a breakdown of all of the funds that are flowing into your business. This will include cash from sales as well as any other inflows that were inputted in the “Other Sources of Income Tab”.

Management of Sales:

In this section you will be able to keep track of your business’s sales. Here you will be able to add new invoices which can contain:

✔Date of purchase
✔Customer Name
✔Customer Address
✔List of Purchased Items
✔List of any Services included in the Purchase
✔Total Number of items purchased
✔Total price of the purchase

Management of General Inflows:

For any other sources of income that would not fall under the sales category. This can include revenue from advertising, sponsors and any other source that drives money into the business. Each new inflow will consist of:

✔Date of the inflow coming into the business
✔Name of the Inflow
✔Short Description of the Inflow
✔Total money received from the inflow

Outflow Overview

This section will give you an overview of all the money flowing out of the business. This will include money from purchase orders as well as money that contributes the employee salaries and any other outflows that are inputted in the “Other Expenses” tab

Management of Payrolls:

Here you will be able to manage your employees within your business as well as the payouts that they receive at the end of each month. You will be able to store relevant information about each employee which will include their:

✔Name
✔Address
✔National Insurance Number or Social Security Number
✔Monthly Wage
✔Department that they work in
✔Job Role
✔Gender

Management of Purchase Orders:

Purchase orders are used to keep record of purchased items or services from external suppliers. ‘Fly Accounting’ allows for you to manage and create new purchase orders which will automatically update your inventory with the item that had been purchased. Each purchase order will consist of information such as:

✔Date
✔Item Name
✔Supplier Name
✔Amount paid
✔Status (Paid/Delivered)
✔Quantity of the item purchased

Management of General Outflows

For any other outflows that do not fall into the previous categories (payroll or purchased orders) fit into this section. Each general outflow will consist of data such as:

✔Date
✔Name of outflow (or source)
✔Amount paid
✔Short description
✔Type (whether or not the outflow is contributes to the total Cost of Sales (also known as Cost of Goods Sold) which will affect the overall gross profit of the business)

Management of Inventory:

In this section you will be able to manage and update your inventory. ‘Fly accounting’ also has a feature that allows for you to see the overall “health” of your inventory which will take into account the total percentage of items within your inventory that are considered to be low in stock. Each item in your inventory will consist of:

✔Name
✔Quantity
✔Type (whether the item is restockable or not, for instance digital assets will not be restockable while merchandise will be restockable)
✔Category that the particular item falls into
✔Short description of the item
✔Unit of measurement (for instance: KG, Per Unit etc)
✔Low stock threshold (used to determine whether or not a particular item has reached a stage where it is considered as low in stock. This value will be compared against the Quantity value of the item)

Management of Services:

Lastly, you will be able to manage the different types of services that your business has to offer to its stakeholders. This can include things such as App development as well as Custom T-Shirt Printing Services. Each service will consist of data such as:

✔Name of the service
✔Short description of the service