One question our clients frequently ask whether they would need to have an accounting system? The answer lies into what extent business owners wishes to have control over finances and have a real-life information to make better decisions. Some leave it to accountants to do bookkeeping and then produce the reports normally long after things have taken place, in some cases, after 6-8 months.
Surely the information can be useful but not timely. In these cases, often business owners are also scared of accounting jargon and unaware of terminologies or simplicity in understanding the numbers. Part of reason can be their accountants who may not have time to explain and simplify things for their clients.
The other type of business owners who wish to have control over their finances and want to have an accounting system that has the most up to date information. Most important thing could be to have their Bank Account linked and reconciled on at least weekly basis. They can use the help of Accountants or bookkeeper or their can try on their own.
Now a days there are large number of Accounting packages available in market. All have similar features. Well Accounting is the same and Accountants find it easier to naviagate different softwares whereas business owners may face difficulty in various interfaces and its a matter of training and getting used to any accounting system. Most accounting systems packages starts from 15 Dollars per month. Here we have found a Free Software that still fulfills basic requirement for most of small business with less than 5 employees.
Increased Accuracy: Accounting software automates many of the manual processes involved in accounting, reducing the likelihood of errors in calculations and data entry.
Time-Saving: Automated data entry, bank feeds, and reconciliation features help save time in record-keeping and financial reporting, giving you more time to focus on other important aspects of your business.
Improved Organization: Accounting software helps to keep financial records organized and easily accessible, making it easier to track expenses, invoices, and payments.
Real-Time Reporting: With accounting software, you can generate financial reports and statements in real-time, giving you up-to-date information about your financial position.
Better Decision-Making: With accurate and up-to-date financial information, you can make informed decisions about your business’s future and take necessary steps to improve your financial performance.
Compliance: Many accounting software programs come with compliance features that ensure your financial records and reports meet regulatory requirements.
Cost Savings: By reducing manual processes and streamlining financial management, accounting software can help businesses save money on accounting-related expenses.
Overall, accounting software can help you streamline your financial management processes, improve accuracy and organization, and make informed decisions for the future of your business.
If you need help in what would be best to manage your book keeping or accounting needs. Talk to us today by contacting us Moh@Tasconsulting.ie or Call us at 01 4428230 or Whatsapp 0851477625