If your bookkeeper spends Saturdays in the office trying to keep up with paychecks and taxes and tax code updates and outstanding invoices, you know what?—you need accounting software.
There are other reasons why most businesses need accounting software. Here are some:
• Audit trail. If you have multiple employees working on a paper system, you may have a hard time knowing who’s done what to your records, and when. Most accounting software offers an audit trail, a lengthy list chronicling any additions and changes made to the system, and who made them. This is a critical security feature.
• Multiuser access. Most accounting software can be set up on a network, which means you don’t have to constantly run back and forth to other offices to get the information you should all have.
• Roles and permissions. If you’re on a network, you probably don’t want everyone to have access to everything. Accounting software lets you assign roles to users and define exactly where they can go and what they can do on the system.
• Online banking. Most accounting software gives you easy access to your bank accounts online (if your financial institution allows it). This capability can save a lot of time, provide real-time banking information, and eliminate some duplicate data entry.
• Dashboards. With so much going on in your financial system, how do you get a handle on what needs to be done daily? Accounting software reminds you when, for example, invoices are past due, payroll taxes are due, inventory is running low, and more.
• Accountant access. If you’re working with an accountant who blesses your books periodically, you can give him or her access to your system—and keep working ahead while your past work is being checked.
Yes, You Can
There are probably as many objections to accounting software as there are reasons to use it. It’s expensive (it’s not). I’ll need to have an accounting professional on my staff (nope; these programs are built for non-pros). I can track my finances just as well on my own (you can’t). I’ll lose all of my data , and there are many reliable backup options). My business is too small (do you spend money? Make money?).
If you need to know how much money you’re spending and taking in, where it’s going and coming from, what’s in stock and on time and what’s not, and you want to treat your employees, customers, and vendors as professionally as possible, you need accounting software.
Feel free to reach us for free demo www.onestopaccounting.comTags: Accounting, accounting software, accounting software singapore, need of accounting software, pcmag, singapore accounting software