Top Features of Online Accounting Software for a Cable TV Operator

Cable TV operators deal with multiple clients daily, and maintaining customer data is difficult. Initially, they manually managed all the records and visited door-to-door to collect bills. Online accounting software is the best solution for Cable TV operators with automated billing and data entry. 

Let’s deep dive into understanding accounting software for Cable TV operators: 

Introduction 

Cable TV accounting software simplifies managing operator data, transactions, subscription fees, content licensing, advertising revenue, maintenance costs, and more. It automates billing, invoicing, accounting, recordkeeping, compliance, and inventory management. The online accounting software reduces errors and mismatched entries. 

Let’s check out the top features to look for in a digital accounting application for a Cable TV service: 

Top Features of Cloud Accounting Software 

1. Customer Billing

• Cloud accounting software generates invoices instantly at the point of sale, allowing a seamless billing experience. 
• It allows the operators to create individual customer accounts for each subscriber with their name, address, contact information, plan, and billing preference. 
• It automatically records payments received from the subscribers and generates invoices instantly. 
• It checks on payments received and pending to ensure transparency.
• The cloud accounting software allows operators to generate GST bills and share them via SMS, eMail, or WhatsApp. 

2. Customer Management
   • Accounting solution allows operators to seamlessly manage customers and subscriber information, handle service requests and client queries, and track customer interaction. 
   • It alerts customers about pending bills and informs operators that the service will be disconnected. 
   • It also incorporates tools for managing technical issues and resolving client queries. 
   • It automatically generates updates via SMS or eMails for discounts and plan updates. 

3.  Compliance Management 
   • Filing taxes requires efficient financial management for the success of the Cable TV business. 
   • Look out for accounting software that generates all the financial reports, balance sheets, and compliance reports in detail. 
   • Also, cable TV accounting software that automatically computes taxes to be paid is advisable.
   • With the changing GST regulations, the digital accounting solution stays updated with the latest GST laws. 

4. Cash Flow Management

• Online accounting software measures revenue, profit, expenses, and taxes. 
• It helps cable TV operators track payments in real time. 
• It schedules recurring payments, automates subscription schedules, and sends payment reminders. 

5. Inventory Management

• Cable TV accounting software helps the operators track equipment inventory levels like set-up boxes, routers, modems, satellite dishes, and more. 
• It automatically sets up reorders for inventories going below the threshold, avoiding stock outs and overstocks.
• Also, online accounting software tracks individual equipment through serial numbers to measure maintenance activities and warranties. 
• It generates inventory reports for operators, providing them with insights into the procurement process, inventory performance, and turnover ratio. 

6.  Security
   • The customer data with operators is critical and prone to security breaches. 
   • Cloud accounting software that offers robust security to crucial information should be chosen. 
   • A few accounting solutions provide multi-factor authentication to prevent unauthorized access into the system. 
   • The data is encrypted, making it difficult for hackers to sneak into it. 
   • The online accounting software offers multiple layers of security to ensure the data is highly protected. 
7. Workflow Automation 

• Accounting software facilitates remote working opportunities between the staff and the operators. 
• It allows the users to send approval reports online and route them for authorization based on predefined rules. 
• It allows users to automatically create, approve, and track purchase orders, streamlining the procurement process. 
• Online accounting software will enable customers to customize workflows based on their business requirements. 

8. Service Request Management 

• GST billing software presents a centralized ticketing system where customer inquiries, complaints, and customer queries are served and tracked in a single place.
• It allows the requests to be prioritized on a first-come, first-serve basis. 
• It generates reports that depict ticket volume, customer satisfaction score, resolution time, and trends. 
• The online accounting software can be integrated with the service management systems to monitor technician visits, optimize routing, and track field service activities in real-time. 

9. Bank Reconciliation 

• Accounting software automates all the bank reconciliation tasks. 
• It allows the operators to manage multiple bank accounts, reducing manual effort. 
• Cloud accounting software allows operators to adjust and reconcile discrepancies between bank statements and actual records. 
• It generates reconciliation reports for the records that match the statements accurately. 

10. Automation 

• Online accounting software automates data entry, saving human effort and time. 
• It also eliminates paperwork, ensuring a paperless office. 
• The tax management software facilitates automated tax computations, recording, and GST filing processes. 
• It digitizes billing and invoicing for cable TV clients based on subscription plans and payment modules. 

Benefits of Accounting Software for Cable TV Operators 

1. The digital recordkeeping solution ensures consistency and accuracy in financial reports.
2. It streamlines the billing process for subscription plans, pay-per-view events, and bundled services. 
3. It saves time and effort on equipment tracking and maintenance activities. 
4. It enhances long-term customer relations through appropriate request handling. 
5. It handles all the tax requirements with ease, eliminating the need to pay penalties. 

Wrap Up  

Hopefully, you have noted the top features to look for while hunting for accounting software for a cable TV operator. If you are looking for the best accounting software, Munim is the right choice. 

Perks of Munim

• No subscription fees are to be paid. 
• Best-suited for all industry types. 
• A one-stop solution for all accounting, billing, and compliance needs. 
• A single-click solution. 

FAQs

1. What are the main features of Munim that Cable TV operators can use? 

• Billing and invoicing
• Inventory management 
• Accounting
• Bookkeeping 
• Accounts payable and receivable 
• Report management 
• Compliance management 

2. Does Munim offer customer support? 

Yes, Munim experts are available on weekdays to resolve your queries. 

3. Which is the best software for accounting and billing? 

Munim is the best free software that offers all the functionalities for accounting, billing, and compliance needs.