➤Audit Trail

An audit trail is a time-stamped step-by-step record of all actions and activities within an application by a user. The record can cover all actions that involve creating, editing, or deleting records. Starting from 1st April, 2023, accounting software used for maintaining books of accounts should have an edit log feature. Get to know more by giving this section a read.

➤Accounting and Financial Reports

Business reports play a vital role in regularly tracking and measuring a company's financial performance. They provide actionable insights on various aspects of the business and help you make confident business decisions. There are different types of business reports such as accounting reports and registers, inventory reports and statements, reports related to finance etc., providing specific details about various aspects of the business. Give this section a read, and find out different business reports and their benefits.