Accounting software – the importance of an accounting system in an organisation

It may initially have been viable to record all your financials manually, in a book kept under the counter. But, you’re beginning to see growth and now it has become a little harder to keep accurate records.

A customer recently mentioned accounting software and the importance of an accounting system in an organisation like yours, and you’re considering the pros and cons.

A proper accounting system is important because business success is hinged on three things: sales and marketing, finance and administration and operations.

You have to keep all three pillars of success growing and working in unison if you’re going to reap the rewards of your hard work. If number crunching isn’t your thing, don’t keep flogging a dead horse – get help! Get proper accounting software!

As your business grows, knowing your numbers is vital because you can’t manage what you can’t measure. If you’ve recognised accounting isn’t as simple as it used to be when you first opened your business and are now looking into accounting software, we want to steer you on the right path.

There are many products to choose from and not all are created equal.

4 things QuickBooks believes every small business owner should demand from accounting software:

  • User-friendly. This is a priority if the accounting software is to benefit you in any way. Struggle and be faced with a complicated interface which is difficult to use, and you’re likely to give up and go back to manual processes within a day. You want accounting software that saves you valuable time, not wastes your valuable time. Even if you have an accountant, the right accounting package will streamline your financials so, again, look for user-friendly features.
  • Growth: Your business must grow and with this in mind you need accounting software that can accommodate future growth. Bigger projects and more clients may mean increased stock management, multi-currency trading and VAT management. Your choice of accounting software must be able to handle all of this when the time comes. Ideally, you want something that offers multiple features in each of these areas and more.
  • More hands on deck. Your accounting software should be able to accommodate additional users as your staff grows. This means features like user access, team messaging and backups will be important features to have.
  • Here comes the taxman. It may be a swear word in your business, but taxes are like death, as they say … you can’t escape them. When it comes to tax season, the more detailed information you can provide the better, especially if you’re generating revenue from multiple sources. You need an accounting system that makes allowance for audits and creates a clear trail.

To achieve a dream of delivering far more than you set out to when you first opened your doors may not be easy, but it is achievable. The financial wellbeing of your business must, at all times, be your barometer of success.

Isn’t it time your business consulted a specialist?

QuickBooks, the world’s leading accounting software provider is helping millions of customers across the globe reap the rewards of small business ownership.

Call 010 203 4300 or email info@easybiztech.co.za today.

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Personal Information
Where a party receives any personal information (“PI”) related to the other party, the party who receives the PI, will comply with and have adequate measures in place to ensure that its employees, agents, subsidiaries and representatives comply with the provisions and obligations contained in the Protection of Personal Information Act, No. 4 of 2013. Any PI pertaining to one party which is required by the other party, will only be used by that other party for the purposes of this contract and will not be further processed or disclosed without the written consent of the latter and the recipient of that PI will take all reasonable precautions to preserve the integrity and prevent any corruption or loss, damage or destruction of the PI. If and when the contract is terminated, each party will, save to the extent that it is required to do otherwise by any applicable law, erase or cause to be erased, all PI and all copies of any part of the PI relating to the other party”.