THE IMPACT OF ACCOUNTING SOFTWAREON BUSINESS PERFORMANCE
WHAT IS BUSINESS PERFORMANCE? Business performance includes expenses, schedules, quality, and profitability.…
For a business to succeed, accounting is essential.
It is also the most integral to ensuring seamless operations of every business.
It supports management in maintaining a continuous lookout of the company’s finances and being on top of it all.
Through the years, we have been doing accounting methods but with the computer age, much has changed.
We are now in the era of intelligent software doing the job, specifically a cloud-based bookkeeping software, undeniably, a very powerful tool in accounting.
With the rise of computerization and technological advancement comes the computerized accounting systems (CAS) being implemented in companies.
There are many different ways to define computerized accounting systems but in a nutshell, it is a smart and high-functioning bookkeeping software that achieves a number of automated accounting processes.
It can be hosted in various methods through the following: a network server, an assigned single computer or cloud-based.
Managing a business is a daunting task but with the help of CAS, financial management, report-making, bookkeeping and all the other complicated accounting processes are done more effectively and accurately.
CAS has modules included and caters to all these accounting operations:
The company will be able to benefit from all of these with timeliness, accuracy and efficiency while performing the following functions:
The Bureau of Internal Revenue (BIR) has required big companies to have a computerized accounting system.
This is one of the main reasons why many are looking into it.
CAS is not just for large scale businesses but also, beneficial for small to medium sized enterprises (SMEs).
To make sure that your accounting tasks are in sync with BIR’s rules on CAS, here’s what you need to consider:
The initial step for the company to consider is to know about the existing accounting systems and make sure to sync up with the different components of CAS specifications.
As per CAS regulations, the four components that need to be in sync are:
Knowing the first step and preparing the four components will make it a lot less daunting and the road to ease and accuracy is now at hand.
Now, on to the second step.
Look for a perfect bookkeeping software that is CAS compliant and is cloud-based, efficient and works well within your budget.
One software that is proven and widely used is EasyFIS.
Here are some Key Features and Benefits of EasyFIS.
Now the third step is to become CAS compliant.
Register your chosen software at the BIR.
With EasyFIS. being BIR accredited and CAS compliant, it will be much faster to streamline tax audits.
Knowing compliance requirements and following them is such a hassle, with EasyFIS, you are assured of BIR accreditation.
Accelerate your company’s growth with EasyFIS.
It is designed perfectly for sales, inventory and accounting systems designed for micro, small and medium enterprises (MSME).
Sign-up now to get a FREE Trial Account of EasyFIS. Click here to Sign-up.