Are you having a fist-fight with numbers? If you have a business and you are one of those people who would rather dig a trench than deal with those overwhelming numbers, then this one’s for you!
Here is accounting made easy in 8 steps:
Step 1: Be convinced
– Yes, you just have to be persuaded by heart that manual accounting is almost NA.
Online accounting software is the right one for the business’ efficiency’s sake. Now read on to learn more about it.
Step 2: Search for the right one
– There are many
free online accounting softwares out there, but which one suits your company’s needs? Do not get easily swayed by the cheaper ones or those that have been recommended.
Step 3: Get Expert Advice
– There are experts in the field and know how to balance the pros and the cons. Seek their advice on which
online accounting software is best for you and your needs.
Step 4: Be ready with the budget
– This requires some costs so be ready with it.
Step 5: Give ample time for planning and implementation
– Setting up and system integration consumes some precious time. Be patient in dealing with this scenario.
Step 6: Prepare for Migration
– The migration process is painstakingly tedious but is totally worth it once it is up and about. You need to consider the balance sheet, financial statements, reconciliation data, bank synchronization, aged creditors and debtors, asset registers and depreciation values, and the list goes on.
Step 7: Test the Migration
– There is a learning curve for the migration. Do not expect everything will be in place just like that. There are often more than one ways of learning things so be very patient.
Step 8: Prepare for system training
– Train people who are new to the new
online accounting software. Providers normally give system training through different areas like payroll making, tax reports encoding, year end tax reports processing, employee data recording
Because manual accounting is almost taboo these days, you just have to make the right choice. Although some small companies still prefer the traditional way of managing books, most often, the benefits of online accounting software outweigh that of the traditional, which is the main reason why an online accounting software is the way to go.
Not only does it minimize errors, but also provides the following benefits:
Saves time
– Accounting is very time-consuming. With an online accounting software, processes can be done in a jiffy, saving some time and having more room to do something else.
Minimizes Costs
– Tasks are minimized, so you can save on costs of manpower and hiring of accountants.
Increases efficiency
– With time and cost minimized, there is increased efficiency and productivity in the workplace.
Promotes reliability and accuracy
– Online accounting software minimizes errors and provides accurate reports. No more downtime in correcting and counter-checking input of data and there is more time to focus on other immediate tasks.
Gives high flexibility
– You can actually track your company’s financials and perform accounting duties from anywhere and anytime for as long as there is an internet connection. You get to be more flexible and accessible.
Improves management of asset and inventory
– A dependable and free accounting software should be integrated with your company’s assets and inventory management. Essentially, it enables you to manage your assets and inventories along with its built-in accounting processes.
Provides real-time data
– Quick. Easy. Real-time. It allows you to check your financial data in real, actual, synchronous time.
Enhances decision making process
– Along with accurate, real-time and complete reports, the company and its stakeholders will be able to make better financial decisions for the company’s betterment. They will be able to determine what has entailed costs the most and find out also what needs to be reduced.
Increases financial accessibility
– Stakeholders get to see and monitor the financial state of the company more indepthly and can also help in forecasting cash flows and revenue generation.
So, are you still having trouble with those numbers? An integrated, seamless, real-time online accounting system is now all yours, for FREE plus all these benefits and more!
With EasyFS, you are guaranteed an end-to-end accounting software that is cloud-based and accessible with a multi-currency system when you need one. What’s more, it is CAS (Computerized Accounting System) Compliant, ready for government taxation in the Philippines. Avail of a FREE TRIAL now, check out: https://human-incubator.com/easyfs/
