8 Reasons why you should us an accounting software
When it comes to the management of a big, medium and small company, the main big difference would be spending power and therefore whether this business is able to get a full time accountant in house. Bookkeeping Singapore is a core process in any business, not only will you be able to find out how the business is doing, it could also sound off signals about your business that could mean life and death situations of the business. So let us tell you why having an accounting software would be good for you and your business.
1. Great increase in productivity (the buzz word in Singapore lately) from the use of Accounting Software
Gone are the days when you have to use paper and pen to do all the work manually. The whole process of doing accounting is done with a few clicks and entering of data, the system is programmed to do the computations and calculations so that the easy parts are done without you having to bother too much or spend too much time, you also reduce the risk of running any forms of errors when it comes to computation or writing. This reduce a lot of checking and audit time as well.
2. Tax computation and filing is made a lot easier with the use of accounting software
Tax filing and computation is not something simple and not something that someone who is busy with his business should be meddling with. The software allows tax computation and filing to be made to the simplest and to help you pay your taxes without having to worry if you are late.
3. Great for Bookkeeping
To make sure that you accounts are up to date and give true value to you as a business owner, it needs to give great value when it comes to bookkeeping, accounting softwares are great to keep track of all your entries, provide audit trails and give you full reports that can help you to understand how you derived the values.
4. Makes Accounting Information convenient and easy to understand
When you need to file your annual returns or prepare for your tax advisor or consultant, you can just generate a report and send it to them via email. This helps you to save a lot of time instead of mailing or travelling to your accountant’s place to consult them. Technology is here to serve you !
5. Accounting Softwares are easily available and subsidises by the government
Accounting Software is a tried and tested software that is used by many in Singapore, there are manuals provided and tutorials for those who require them. We are also based in Singapore so if you require any additional help you could just give us a phone call for support. Not forgetting that with the new Productivity and Innovation Credit Scheme,.
6. Helps you to plan and forecast for the new year
As a small business, every little bit counts , so it is always best to set of for the new year with good strategies. Setting out after a business retreat to find out what is done well and done wrong and to plan for your finances is the best way to keep track of your business. Produce charts and data that is useful and make comparison every quarter of the year and make sure that you are keeping up to track, if not , WORK HARDER
7. Accounting software is used with other software can help you to improve your business
Accounting software such as Xero can be used together with microsoft excel to produce reports that are understandable and easy to transfer between people
8. Accounting Software is versatile
The software helps to track debt and receipts, expenditure , invoices, print check, generate invoice and schedule transactions, it helps small business in all sections of accounting.