Benefits of Running Accounting Software on AS400 Operating System

Are you wondering if your business could benefit from the AS400 operating system?

Well, for companies that need a reliable and secure framework to operate mission-critical applications, it is especially an ideal investment.

The AS400 operating system is developed for medium- to large-sized companies. It is a platform that offers a lot of versatility along with a broad spectrum of software applications to serve various organizational needs.

The IBM i framework has been employed for over two decades now, and the software solutions built on it are widely implemented by many organizations worldwide. Finance, banking, healthcare, manufacturing, and insurance are to name a few industries that leverage the capabilities of the AS400 system.

One of the most preferred software applications by businesses that are run on the IBM i platform is the AS400 accounting software. This software solution assists businesses in managing their accounts, financial transactions, and other relevant functions.

In this blog, we’ll cover all details pertinent to the AS400 accounting software. But before that let’s go through the various types of AS400 operating software.

What Are the Different Types of AS400 Operating Software that Businesses use?

The AS400 operating system is a powerful platform for businesses that seek a reliable and versatile computing ecosystem. The following are some of the popular AS400 software applications used by businesses in all industries:

1. ERP Software

One of the most popular AS400 software used by businesses is enterprise resource planning (ERP) software. Businesses can manage their finances, inventories, supply chain, customer interactions, and other essential operations with the use of the AS400 ERP software.

2. Database Software

The AS400 supports a relational database management system (DBMS) called DB2. In addition to DB2, the AS400 operating system can employ Oracle and Microsoft SQL Server, other third-party database software solutions.

3. Financial Software

Financial software that enable companies to manage transactions across various banking platforms and systems are also frequently built on the AS400 operating system.

4. Security Software

The AS400 platform is renowned for its robust security features. There is a range of software solutions supported by the AS400 operating system for businesses that improve security, including data encryption, intrusion detection, and security management tools.

5. Accounting Software

The accounting software developed on the AS400 platform aids in the management of accounts receivable, financial transactions, accounts payable, general ledger, financial reporting, etc.

Now let’s understand what AS400 accounting software is in more detail!

AS400 Accounting Software Overview

The AS400 accounting software is a technological solution that is built to manage financial and accounting operations on the AS400 IBM i platform.

It equips organizations with a comprehensive set of advanced capabilities for handling invoicing, payroll, and other accounting tasks, as well as financial transactions.

By integrating with other applications, the software enables companies to automate their business processes. As a result, companies can increase operational effectiveness, minimize human error, and cut costs and time spent on manual tasks.

Critical Features of AS400 Accounting Software

As mentioned before, the IBM i AS400 accounting software offers a range of features that can assist businesses in streamlining their accounting procedures. The following are some of its critical features and functionalities:

1. General Ledger

The general ledger is a critical component of any accounting software, including the IBM i AS400 accounting software. Organizations can use this feature to keep track of all their financial activities, such as orders, expenditures, and payments.

It also enables the generation of financial statements, like income statements and balance sheets, that give a brief overview of a company’s financial situation.

2. Payroll Management

For most companies, managing payroll is a vital task, and the accounting software, built on the AS400 operating system, provides many capabilities to make this process easier to manage.

Businesses can use this tool to monitor vacation and sick leaves, manage employee benefits, and determine employee compensation.

In order to ensure that companies are in compliance with every applicable law, this software also enables the generation of tax filings and payroll reports.

3. Budgeting and Forecasting

Budgeting and forecasting tools are necessary for companies that want to manage their finances effectively and make reliable business forecasts.

To their rescue comes the IBM i AS400 accounting software, which offers a range of budgeting and forecasting features. These capabilities help businesses establish budgets, monitor expenditures against budgets, and predict future cash flows and income.

4. Accounts Payable

Another critical feature of IBM i AS400 accounting software that enables companies to manage all of their payments and outstanding invoices is accounts payable. This feature ensures that your invoices are paid on time, preventing late fees and penalties.

Additionally, it facilitates the tracking of payments from vendors and the generation of reports to enable organizations to evaluate their cash flow and manage their expenditures efficiently.

5. Inventory Management

Many organizations, especially those in the retail and manufacturing industries, place a high priority on inventory management.

AS400 accounting software offers a great many capabilities to help manage inventory and track stock levels. Additionally, it assists in managing the transfer of inventory between centers and reordering goods as inventory levels drop.

6. Compliance with Regulations

Accounting software can assist companies in complying with tax regulations and accounting standards such as SOX (Sarbanes-Oxley Act) and GAAP (Generally Accepted Accounting Principles). This reduces the likelihood of incurring monetary or legal implications.

Additionally, the software solution offers tools for financial reporting, audit trail creation, and tax reporting to help organizations comply with regulatory standards.

7. Financial Reporting

The financial reporting feature offered by this software enables organizations to build financial reports, such as balance sheets, income statements, etc., that are reliable and accurate. You can generate these financial reports in real-time and tailor them according to your business requirements.

8. Fixed Assets

The fixed asset management feature of the software keeps track of your assets and monitors their depreciation over time. It gives businesses a realistic estimation of the worth of their assets, enabling them to decide effectively on purchase, sale, or replacement of them.

Benefits of Leveraging the AS400 Accounting Software

The following are some of the key advantages of using the IBM i AS400 accounting software:

1. Accessibility

Accounting software gives numbers meaning while carrying out automatic calculations. They give non-accounting users the power to manage finances. Business owners and other employees can carry out all accounting tasks without any or minimal training.

You can perform all tasks while adhering to legal requirements using a desktop computer or a mobile device. And you can accomplish it without spending money on a third party to update the budget.

2. Security

The most important information for a business is its financial data, which must be protected from theft or accidental loss.

Exactly that is what accounting solutions do for their users—they guard against any threat to accounting and maintain a backup in case you need to recover the original documents.

The AS400 operating system is renowned for its security features, which include access controls, embedded encryption, and audit logs. This essentially means that organizations can rely on the security of their financial data.

3. Scalability

The AS400 account software solution provides its users with scalability by managing a massive number of monetary transactions. They accomplish this without any system crash or shutdown. That’s why it is an excellent choice for companies that need to process big chunks of financial data frequently.

4. Seamless Integration

This software application is compatible with other tools and apps built on the AS400 platform. Its integration capability makes it easier for accounting software to integrate seamlessly with:

• Customer relationship management systems
• Supply chain management systems
• Inventory management systems

5. Reliability

The AS400 platform has a reputation for reliability. The software is known for its outstanding uptime and is built to run nonstop 24 *7. This means that companies don’t need to be concerned about system outages or downtime when employing the software to organize their accounting data.

6. Multi-currency Support

Multi-currency capability is a crucial component of AS400 accounting software for companies that operate internationally or trade with foreign currencies. Businesses can use this functionality to track currency rates and manage multiple-currency transactions.

7. Automation

The AS400 accounting software provides organizations with automation capabilities that assist them to save time and eliminate human errors.

Setting up your accounting software requires an initial time investment, just as with any new software system. But once you do, it will automate tedious and repetitive bookkeeping and accounting operations, saving you hours of effort every week.

For instance, companies can automate the steps that involve creating reports, generating invoices, and setting up payments. This frees up resources for other operations and saves organizations money and time on manual tasks.

8. Customization

There isn’t any “one-size-fits-all” accounting software system because each organization performs different financial calculations and follows a unique set of standards.

However, the AS400 accounting software is a flexible software application that you can customize according to your business operations. This is one of the best advantages of the AS400 platform and can certainly help your business grow.

This functionality helps you add new capabilities to your accounting software, update its user interface, and integrate it with other tools and applications.

9. Cost Savings

Accounting software solutions take charge of your revenue stream and automate administrative procedures and fundamental calculation processes. These applications also reduce the need to hire external finance management expertise.

In addition, they lower the cost of printing and publishing finance documents and store critical information in secure places that are carefully monitored at all times.

10. Accuracy

When you use accounting software, you don’t have to manually update several cells in multiple sheets every time you make an adjustment to your records. Rather, any adjustments you make will be automatically reflected in your financial statements and reports, enabling you in maintaining accurate data.

Now you are aware of all the critical features and benefits of the AS400 accounting software built on the IBM i AS400 operating system. The only concern that remains is where you can get one developed tailored to your business needs or update your legacy accounting software.

Build a Customized AS400 Accounting System with Integrative Systems

Are you looking to custom develop, upgrade, and optimize your IBM I AS400 software application cost-effectively?

If that’s the case, Integrative Systems is here to help you!

Integrative Systems is an AS400 development company whose primary goal is to help you transform your vision into reality by providing you with excellent AS400 software development and support services.

Our in-house AS400 development team boasts technical expertise and experience in designing and creating high-end AS400 software solutions for various industries, domains, and verticals.

As we have 20 years of experience in this field and are an IBM Silver Business Partner, you can put your faith in us when it comes to AS400 applications of any complexity.

Contact us today at contact@integrativesystems.com for your IBM i AS400 accounting software needs!

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