It is worth knowing that 90 percent of local SMEs using computer in their everyday work such as generating quotation or generating invoices and also cash flow of your company. But does all these works without any computerized accounting software? The answer is 100 percent No. Technology is the trend now and everything must be generated using the computer software era now and without it shows the folly of ignoring computerize accounting software on the part of SMEs.
Modern customers are technology-savvy. Therefore they are more likely to work with suppliers who use computerized accounting software to generate invoices or statement account for them to view their statement owing to you. A business that invests in good computerized accounting software will benefit by building trust and engaging customers with a powerful computerized accounting software Singapore as a better image for them.
Other reasons for the importance of computerized accounting software include:
Knowing that your supplier uses computerized accounting software to generate invoices to bill you instantly is the most important trust-building between you and your clients. They trust the speed reliability that you are able to generate their billing for their accounts department and also the stock status of their items with your company shows how fast your response is to them.
Minimize Incorrect Entry
Even the smallest difference can make a huge difference if accumulates and without noticing it might cause the whole account’s financial reporting to be in a huge mess. In the end, you’ll find yourself starting right from the start to trace all your manual accounting entries. You would not like to be in such a huge mess! However, there are lots of accounting software to choose from and you need to choose the right one by narrowing down accounting software features that best fit your company workflow and operation such as if it has the reporting that you required and others.
Better Manage Clients Payment Performance
Everything is well taken care of by computerized accounting software which can take over your much time spend on the manual computation of daily transactions profits and handwritten billing such as quotations and invoices. The image once you key in invoices and it will instantly print out a statement of account of your existing client’s payment owing to you which will better keep track of your client’s payment performance, instead of keeping track of your client’s payment performance using paper and pen. So why not try out Sage_Ubs accounting software which can perform such a task for you?
Translate To More Accurate Accounting Reporting
A time will come whereby you are not using computerized accounting software and you record your sales as $1000 instead of only $100. This will incur more tax during your year-end. Another example would be a purchase billing of $10,000 is given to you and you’re accidentally recording as $1,000 and that would be a tax evasion which is not legal and would incur questioning by the tax department. How troublesome it is without computerized accounting software. Good computerized accounting software is a must to have for any business operation and to submit to Singapore IRAS reporting for year-end company tax computation.