Many times, when things get rough and tough in the business, it is so easy to get caught up in the miry day-to-day operations. As a small business owner, it is a struggle to keep tasks updated and completed especially when there are other things to do like sales, marketing and even inventory management. Online accounting system brings to the table many advantageous features to small and medium size enterprises, and it is time to make a change.
You may be wondering, “Is it high time to have an online accounting system?” Adapting to automation may take some time to adjust but once you get the hang of it, you can run your business effortlessly with less glitches.
Why use an online accounting system?
Here are some drawbacks in manual accounting that is why you need to shift focus to an online accounting system that will practically change everything:
Manual accounting is Slow
– The old accounting system uses ledgers and balance sheets. Data is inputted and repeated as new entries arise. This is a slow and time-consuming process. Having an online accounting system can complete tasks quickly while focusing on profit-generating activities. Many online accounting systems allow you to do bookkeeping in a few easy steps. Using a cloud accounting software, you can do your accounting from just about anywhere and any time by just have an internet connection. Thus, an online accounting system, saves a lot of TIME.
Manual accounting is Inefficient
– Who wants an inefficient accounting system? Manual accounting is troublesome and time-consuming and definitely not efficient. An online accounting system, on the other hand, AUTOMATES your company’s accounting producing fast, reliable data. You will have a clearer picture of how your business is faring and how it stands in its financial status.
Hand-calculated figures are prone to error
– One human error sometimes leads to multiple ones. With the online accounting system, you can complete tasks quickly while focusing on profit-generating activities. Automation makes accounting duties simpler and systematic. The system can add, compile statements and also generate invoices. Therefore, an online accounting system generally is ACCURATE AND PROTECTS YOU FROM AUDIT. Auditors will check your books for accurate data and information. If an auditor finds discrepancies and error you could get a penalty or fine and a bad record.
Easy FIS gives you a highly-accurate and real-time view of your financial statements.
Records are disorganized and tax-filing is tedious
– Giving a box of receipts to your accountant for recording and tax filing is a total headache. Do you know that disorganized records can cause so much difficulty when the tax filing season comes? One of the main uses of an online accounting software is that it makes things ORGANIZED AND MAKES TAX-FILING EASIER and more SYSTEMATIC.
Manual data doesn’t give a running history of your business
– Most often, too much numbers in the entries become overwhelming and tiring, with a tendency to miss out on the real goals and company’s aspirations. An online accounting software makes tasks easier and allows one to form more realistic and achievable goals. With a better picture that online accounting system provides like your past income and expense patterns, you can already set your business goals.
Doesn’t aid in decision- making
– Manual accounting doesn’t pot to you making a decision for your business, while an online accounting system can. Studying past records helps you plan cash flow successfully. By looking at your business’s income and expenses from one year or month to the next years, you can already do projections on your cash flow. These projections can help create your budget for the business and can push for smarter purchasing decisions.
With the downside of a manual system in accounting, here is EasyFIS that an cater to your growing needs. Automation is key. An online accounting system works in a thousand ways more than the manual.
EasyFIS is a Software-as-a-Service (SAAS) sales, inventory, and accounting system designed for micro, small, and medium (MSME) enterprises.
If you want to bring your business to greater heights, EasyFIS can provide a turn-key solution to your most common business problems to effectively monitor your sales, check your LIVE inventory stock quantity, and most importantly the status of your business’s financial health.
On top of that EasyFIS is CAS (Computerized Accounting System) compliant ready for government taxation in the Philippines. So what are your waiting for?