Business Accounting and Advantages of Computerized Accounting
In today’s world, to run a successful business, one needs comprehensive account management. Gone were the days when people used to keep paper books for their accounting purpose. Computerized accounting software has become an essential part of most of the business around the world.
Reasons for their success are that they are very affordable, impressively faster, more accurate and efficient in managing accounts. When we talk about major accounting packages, QuickBooks and MYOB are the most popular ones. This software makes accounting processes more reliable and swift.
Accounting packages provide a huge amount of benefits for small to medium businesses. Some of the benefits such as the ability to automatically updating customers’ accounts, making payments to suppliers, automatic payroll collection, recording invoices from suppliers, and much more.
When it comes to automation or simplifying your accounting, both of this software are good choices. Easy to use, great interface and a variety of features and reporting capabilities, they deliver best results. With latest versions of this software, we always observed improved automation, better reporting, faster data entry and many features.
In 2009, cloud-version of Quickbooks was released. With this, the software got the online capability, ability to create a network of accounting computers. MYOB has also released its own cloud version, and when it comes to choosing one out of these two options, Quickbooks is our pick due to more features it has. Quickbooks is available for any small or medium business owners at very affordable price.
The most important feature of Quickbooks is that it fully automates accounting services. With its impressive features, you can create rock solid books after proper training of this easy to use software. They keep on upgrading their services to change the accounting process smoother. Once you buy this software, you keep getting updated versions regularly.
Under Singapore’s Productivity and Information Act, one can claim purchase and training of this software. It will not only improve accounting operations but also save money for you.
The Advantages of Computerized Accounting
One can select any software package according to their accounting requirement. Unlike manual entry system where one has to make two to three entries, you can record any transaction by one entry. Computerized ledger systems are connected in such a way that if you record any business transaction, it records the same in other accounting records simultaneously.
With faster and easier data entry, built in customer databases can be easily tailored according to the need of your business. As mentioned earlier, any data entered once gets recorded to multiple locations. Generating invoices become a faster and more accurate procedure. In addition to this, you can make purchase orders, credit notes, printing statements or payroll documents, fully automated. This will definitely save your precious time, money and other valuable resources.
Another benefit of QuickBooks is that it save a lot of time as the transactions have to be recorded only once rather than two or three times in case of current manual paper book system. With computerized accounting system, you can reduce your accounting time to half in case you have high volume business.
When secretarial services like best accounting software is brought in a place, you get a lot more than just a third party to maintain your books. You also get company’s secretarial services that will provide training to your current employees on how to use the new computerized software.
You can boost your business’s productivity and accounting practices by taking help of great software to integrate the suitable service and training for your company.