Impact on Accounting Education

Accounting is considered to be the language of business. The number of globalized businesses in the world is vast and increasing, which emphasizes the importance of achieving a common accounting language. Accounting is predominantly known as the profession that analyzes the past, but because of globalization it is important to look into the future.

As a result, it is important to educate the accounting field on the standards of other countries. The IRSF was created by the International Accounting Standards board. The Financial Accounting Standards Board created the generally accepted accounting principles.

Accounting is predominantly known as the profession that analyzes the past and looks into the future. Globalization plays a huge role on accounting education. Thus it is more important to educate accountants on the standards of other countries, so that they are knowledgeable in their field because many businesses operate with countries across the world.

The accounting education is more important in such a way that the accountant becomes a part of the management and decision-making team, rather than just providing the financial information. Accounting in the future will require not only specific knowledge but also must also be able to change with the globalization. Accountants will need to be well prepared in computer skills, the ability to learn new software and new accounting rules.

Realizing the importance of information technology most of the colleges and universities have added a new track called Accounting Information System. The Professional accountants employ extensively in the computer applications to perform their tasks such as email to communicate, Internet for search, and accounting software to record and analyze financial transactions for decision-making. Computerized accounting systems have now replaced manual accounting systems in most of the organizations.

Significance of Accounting Payroll

Payroll Accounting is important for an Employee and the Employer, which deals with the payment of your employees and paying the appropriate taxes to the government. The payroll system is the most frequently updated part of financial record in most of the organizations. Nowadays even a small business can manage this system with the online processing sites.

Payrolls are considered to be the lifeline of any organization. It consists of procedures and mechanisms ensuring that an accountant processes the employee salary information in complete manner with accuracy. Also allows the business owners to create a function that is easy for them to understand and use. Usually small businesses run their payroll systems like that of the larger organizations.

In many organizations there are several pension plans, offered to their previous employees based on the duration and the importance of their responsibilities. It is very important for an organization to maintain and manage their payrolls. If the payrolls are kept by the organization in an efficient manner, it would keep the employees, in the healthiest state of mind.

If there is any occurrence of issues in the payrolls of the company, then it may lead to the employee dissatisfaction having a direct bearing on the efficiency of their services. Thus the Payroll accountant has to take care of the payrolls right from the salaries and wages such as paid vacation, insurance coverage of the company. They must properly integrate the pay records with the payroll and the benefit systems.

A manual payroll system requires that the payroll to be processed by hand and is therefore a considerably slower procedure. But an automated payroll system enables the employer to process its payroll through a computerized system which makes the process faster by reducing the errors that occurs in manual system. This may be considered as one of the demerit that the employer must invest in for the payroll software and maintain it.

Closing of Account in Numia

Numia provides you a way to close your account by retrieving all your accounting transactions. Closing of your accounts prevents you from logging in and to access any of the services provided by Numia. The steps followed in closing of account in Numia are

1) Select Company -> Close Numia Account.
2) A new window will be opened similar to the screenshot as below.

3) By clicking the "Close Account" Button, Your account will be closed.

As soon as you closed your account, You are not logged out immediately. You may manage your accounts even now too and it will be audited as before.

If you want to reactivate your account with Numia, You will be given a period of 48 hours or 2 days (from the time you closed your account) to login again. You or the persons linked with this account can login to the website within this stipulated period of time to activate your account.

After the deadline given by Numia to reactive your account is completed, Your account will be permanently closed. You can contact support@numia.biz for retrieval of your accounting records or any kind of assistance.

Banking Registers

Register is basically the official written record of names or events or transactions. Banking Registers are the records which are maintained in order to keep track of your banking transactions.

Numia, online accounting software not only helps you to record your accounting transactions or maintain your banking records, but also enables you to edit or delete the transaction. You can view the report of the transactions each and every bank separately within your desired time period.

The steps involved are as follows:

• Select Bank-> Banking Registers.
• Select the bank name to view the accounting transactions in that specified bank.
• Select the account name.
• Now you can view the list of transactions made in that bank in the corresponding account name.
• Edit or delete the transaction by just clicking the edit or delete icons which is viewed by moving the cursor over the transaction.
• You can also customize the report by clicking “Customize” option. Customizing allows you to view the transaction report within specified dates and to differentiate the transactions based on reconciliation.
• You can also export the report to “Excel spreadsheet” or simply print it.

Exporting your Report to Excel Spreadsheet

In Numia, You can easily export your report to excel spreadsheet. By exporting your report, You may be able to save the report under any name in your desired path and you can make whatever changes you want to do. The steps involved are given below:

1.Select Report -> Choose the report you want to export.
2.Click “Excel Spreadsheet” Button.
3.Choose “Save file”.
4.Select the folder where you want to save the file. You can also change the name of the file.
5.Open the file in excel and make the changes you want. This change does not affect the data in the Numia reports.

The screenshot is as follows.

Ebay Transactions :

Ebay is an American internet firm which acts as a world’s online marketplace. It manages a website, ebay.com which is the place where buyers and sellers come together and trade goods, services and almost everything. Ebay has been started in 1995 and it is now multi-billion dollar business comprised over thirty countries.

The basic working of Ebay includes two factors such as Bidding and Buy it now.

•A seller can list any kind of item like antiques, cars, books, sporting good and almost everything on Ebay.
•The seller has to decide whether he prefers bidding by accepting bids on the item or he may choose buy it now option to make the buyers to buy the item right away at a fixed price.
•In the bidding method, the auction is opened by the seller for some price and it remains in ebay for certain number of days. Then, the buyers are allowed to place the bids on the item. When the specific period ends, the buyer with the highest bid will win.
•In Buy it now option, the buyer who accepts the seller’s price at first gets the item.

Numia, the online accounting software is making lots of improvements with simpler accounting modules, each aiming to make this accounting software better and easier to use. In the path of development, Numia’s future plan is to include the access to Ebay transactions to make the accounting processes in a effective manner.

Sending Report Through Email

Reports act as a document for viewing all of your transactions in a same place. They are the formal account of the proceedings or transactions of a group. The basic purpose of reports is to inform, in terms of a written document featured with informations.



Numia provides a simple way of sending any report to multiple email ids in a easier way. The steps involved are as follows.

• Select Reports -> click the report you want to get emailed.
• Click "Email" option.
• Email form will be shown.
• Enter the email address to which the report has to be send.
• You can also enter the message, if you wish the report to be sent with the message.
• Then by clicking "Send Report", Your report will be sent.