How Would You Benefit From an Accounting System?

For years, spreadsheet software has been a great tool for starters and small businesses. Accountants rely on Excel sheets to track business transactions, for accounting, inventory and clients database. There are a lot more ways to make business owners' lives easier, let me cite scenarios which are common among businesses and clear indications that you need an accounting system.

1. You're the owner and wants to see how your business is doing. You want a comprehensive report done right away. Yes your current system can track your income and expenses but it takes hours or even days (depending on your business) to generate reports that you need.

Here's how can an accounting system help you:

It gives you a real-time and bird's eye view of your finances, your gross profit from each client and/or total balances, companies expenses, inventory status from previous transactions, the value of your net worth over a specific period of time and withholding or wage information. In just one click, the system generates reports about work you've already done and transactions you've made.

2. One of your clients requested for a copy of an invoice issued few years ago. What's your next step? If you do not have an accounting system, you would probably go to excel, start sorting information such as business names, addresses etc. just to be able to retrieve information about a transaction done few years ago or worst you would go straight to your filing cabinet and start searching for that old file manually.

Here's the good news, accounting system is designed to organize your records for all your business transactions. All the information you need about your clients are readily available in just one program. It offers prebuilt template/forms for documents such as invoices, official receipts and sales orders. You can always customize them by adding your company logo. Processing and retrieval of all accountability forms can be done in just a snap. No more lead time required to prepare and produce a copy of these documents. Once you complete filling out these forms, you can email them right away. Accounting system makes paperless accounting possible.

3. You have multiple businesses in different locations and want to keep an eye on every detail of the business.

Accounting system keeps you on track of your profitability per profit center. You wouldn't have to worry about running back and forth to different office/business locations. Data capturing made easy through accounting system. You can view status of your business easily, anytime anywhere with its fully web based feature. Dashboard notifies you for deadlines, past due accounts and inventory status. One of it's special features is the full security and accounting control. This allows you to assign roles to it's users and define what changes can be made to the system. There is also an audit trail that will help you see these changes and the persons who made them.

Above scenarios are just a few of a hundred more reasons for employing a web-based business solution.  To find out more about what our company can offer, please click Accounting System Philippines.

Dennis M. Hilario

Client Services