If you run your own business – whether it be as a sole trader, partnership, limited company or other business entity then you will probably be all too familiar with the hard work involved when it comes to accounting.
If you are a sole trader or very small business then this will probably be an issue that effects you directly, and if you are a larger company then perhaps the hardship falls to your accountant.
Regardless of who has the burden of managing the books and filing accounts, it can be a very stressful job if it is not done efficiently.
Normally accounting is stressful because the right tools are not being used and if fact if you use the right tools then it becomes much less of a burden and it can become an asset to your business.
After all if the accounts and in good order then not only does it make the business run smoothly but it is a great indicator of any potential issues that need to be addressed as well as an indicator of how well a business is doing and perhaps highlighting things that can be further scaled up to increase revenue and profit.
Manual accounting compared to software accounting
Despite the computer based solutions available for accounting lots of people and businesses continue to use manual “pen and paper” methods of accounting and this can really make things hard work and also leads the way for errors to arise due to mistakes in the paperwork.
- AMD Ryzen 3 3200U Dual Core Processor (Up to...
- 15.6 inches full HD (1920 x 1080) widescreen LED...
Some businesses are slightly ahead of this curve, but whilst they do use the computing for accounting purposes they often use programs such as Microsoft Excel whilst incorporating custom spreadsheets that have been hand made and are used for accounting purposes.
It really is important to understand why computers are there and how they help businesses. Computers are like advanced calculators – and this does not simply mean that they can easily add up all of your sales records – they are advanced computing machines that are capable of calculating almost anything imaginable and at the click of a button.
In terms of business use a computer should be doing all of your replication tasks – and accounting is definitely one of those.
Accounting is even easier because there are lots of software packages already on the market that have been built specifically for the purposes of managing accounts – they are built with all of the usual accounting practices in mind and once set up will often handle 90% of day to day accounting requirements with very little work for the user.
Companies such as Daceasy Singapore offer fully fledged accountancy software suites that handle all of these tasks leaving the end user – the small business owner or accountant to simply enter in the invoice information and they do the rest.
Not only does this make the job much much easier as the computer does most of the work, and does it much more quickly than a computer user could, it also takes away the room for error – rather than calculations being done manually, information entered in multiple locations and cross referenced as and when needed, the information is all handled by the computer and by a pre-set system so that very few mistakes can be made and even if they are, the system will flag them up for you.
So in summary, computers are there to help us and day to day business accounts is definitely something that is tried and tested on computers and moving all of your accounts to a software based system really will save you time, money and stress.