7 REASONS TO CHOOSE THE UBS ACCOUNTING SOFTWARE

Basic accounting tasks

 Most small businesses can make do with accounting software that offers basic functions like invoicing (both by email and snail mail), income and expense tracking, financial report generation, and client and vendor management.

Automation

Things like automatic billing, recurring payments, past-due notifications and other automated processes save you time because you will not have to manually do them yourself.

Quote and estimate creation

 Use customized, premade templates to create quotes and estimates for clients; then automatically convert them into invoices.

Tax preparation

 Make both your life and your accountant's life easier with accounting software that can help you with your taxes. Features include automatic tax calculations, multiple tax rates and tax reporting, and the ability to instantly email all necessary data and files to your accountant at the click of a button.

Multiuser access

Most accounting software products give access to multiple users (e.g., you and your accountant), so you don't have to do everything on your own.

Payroll processing

 Enter time sheets, calculate pay, print checks and pay your employees — without all the legwork.

Mobile access

Use your accounting software anytime, anywhere on your mobile phone or tablet. This is particularly useful for business owners who are always on the go and are too busy to sit down and manage the books at a computer.

WHY DO YOU NEED MYOB ACCOUNTING SOFTWARE

To find the best accounting software for your business, the first step is to figure out the primary reasons why you need one in the first place. For some businesses, using spreadsheets, or even handwritten ledgers, will do. For most, however, the ease and efficiency of accounting software make it the better choice.

Here are some factors to consider:

You're just starting out. Using accounting software right from the start sets your business up for success down the line. It's far more beneficial to begin using accounting software from the first day than to implement one after months, or even years, of using spreadsheets or handwritten ledgers.

Your business is growing. If you plan to expand your business, or if your business is quickly growing, a manual accounting system becomes inefficient and complicated. If you use accounting software, it can save your growing business tons of time and money by automating processes and being highly scalable to your business' size.

You want immediate, on-demand access. Think accounting software is just about the numbers? On the contrary, this software gives you an easily accessible database of both financial and customer information. You can even include all types of details about clients and vendors, such as contact information, purchase histories and credit terms.

You want to streamline your operations. By performing tasks ranging from payroll to day-to-day transactions, accounting software can integrate all parts of your operations and automatically input data from other systems, such as your enterprise resource planning (ERP) system, point-of-sale (POS) system, customer relationship management (CRM) system and other third-party solutions. Accounting software can also link your bank accounts and credit cards to automatically track expenses and update your books.

Your current system is too complicated. Not all accounting systems are made the same. For small businesses, some of the mainstream accounting systems is too complex and packed with unnecessary features. If the software you currently have is too complex, a solution made specifically for small businesses is a much better option.

You want to make sure you comply with all laws and regulations. Don't know anything about generally accepted accounting principles (GAAP), tax laws or other financial regulations? Many accounting software programs do the legwork for you and can guide you to ensure compliance. You can't get that with spreadsheets or by doing everything by hand.

source:businessnewsdaily.com

ACCOUNTING SOFTWARE LIMITATIONS: IS FREE REALLY BETTER

Although Wave is excellent accounting software for small businesses, it offers only core accounting functions, so it isn't for everyone. And because it's a free software, it comes with several limitations that may make a paid software a better option for your business.

Here are three main shortcomings that we found with Wave Accounting:

Customer service

One key feature that's not available on the Wave Accounting software is customer support — at least not for free. Although the company has an FAQ page, community forums, a knowledge base, webinars, user guides and other sources of information, sometimes what you really need is to speak with a live person. Whereas paid accounting software options come with free live customer support, Wave requires you to purchase Premium Services, which start at $9 per month. Paid support packages include live phone and chat support and a direct line to Wave headquarters.

Payroll

 Payroll services are not included either. Most paid accounting software programs come with payroll services (either as a built-in feature or third-party integration), but you'll need to pay for Wave Payroll to use Wave Accounting to pay employees. Wave Payroll costs $15 per month, plus $4 per employee per month. Besides the additional costs, this also means you're forced to use Wave's own payroll tools, which limits your options and may make payroll harder if you prefer to use your own payroll solution.

Advertisements

Wave is free because it uses advertisements. In addition to posting ads while you're using the software itself, Wave will also include its branding on communications sent to customers, such as invoices and emails. There is currently no way to get rid of advertisements, so if this is a major deal breaker, a paid accounting software is for you.

To give you a better idea of whether a paid accounting software is better for your business, here's how Wave compares to the rest of our top picks for the best accounting software

source:www.businessnewsdaily.com/

PAYROLL ACCOUNTING SOFTWARE IS BEST ACCOUNTING SOFTWARE FOR SMALL BUSINESS

Why Wave Accounting?

Ease of use

It's very easy to use Accounting software, and it's even easier to get started. Create an account in seconds by entering your email address and desired password (you can also register using your Google or Yahoo account). After signing up, you can customize your account by filling out your company name and type of business, which Wave uses to automatically create a dashboard that best suits your needs. The service also lets you add contact information, such as your address and phone number, so that this information will automatically appear on invoices, payments and other transactions.

When you log in, you'll be greeted with a simple dashboard, which we found very easy to navigate. It uses a sidebar menu divided into categories like Transactions, Invoices, Bills, Receipts and Reports, so you can quickly find core functions without difficulty. With Wave's user-friendly interface, we found our way easily and were able to create invoices, track finances and perform other accounting tasks in no time.

You can find out more information and experience Wave yourself by signing up for a free account or joining one of the company's free webinars for new customers.

Time-saving features

Business owners we spoke to said that some of the main things they look for in accounting software are features that will save them time and take the stress out of managing finances. We've found that Wave's automated features fit the bill.

Some time-saving features we liked are automatic billing and invoicing. In addition to setting up recurring bills and invoices, you can also set up reminders to help you keep track of paid and unpaid items.

Wave also automatically syncs data, so you don't have to manually input transactions yourself. For instance, the service securely connects with your bank, credit card, PayPal and 10,000 other financial institutions to automatically download and import expenses, deposits and other financial data in real time. Your data is also automatically backed up.

And if you're in a hurry — or you just want to see your business's financial status without going through all the numbers and reports — the dashboard features snapshots of all the critical information you need right when you log in. For instance, you'll find at-a-glance views of your income, expenses, bank and credit card accounts, payables, receivables, recent activity, and more, all in one easily accessible page.

Another feature we liked is the myob accounting software  ability to easily and quickly create accurate financial reports, such as balance sheets, sales reports, tax documents and more using pre-made templates. That way, you don't have to waste time starting from scratch, especially if you know nothing about financial reporting.

SOURCE:www.businessnewsdaily.com

UNDERSTAND YOUR ACCOUNTING NEEDS: IMPLEMENTING YOUR ACCOUNTING PACKAGE

Implementation is much more than just installing some Accounting software. Your implementation plan should consider the following.

Package installation - this will usually be in the form of a CD-Rom and may require you to register the package with the supplier so that it is fully licensed and works correctly.

Initial company setup - you will need to enter details of your business including the year-end date and other details. Your Myob accounting Software package may have several different Charts of Myob Accounts – i.e. the headings that you use in your accounts - so you can choose to suit your type of business. However, you may need to tailor this to your requirements. Your accountant should be able to advise you on this work, or undertake it for you.

Parallel running - you may find it useful to run Accounting Software  your old accounts and the new package alongside each other for a while to ensure that you are getting correct results. However, it is difficult to maintain parallel running for very long because of the duplication of effort.

Training - the staff who work with the accounting package on a day-to-day basis should ideally have some formal training in the use of the package. You should time this training so that it is done shortly before the installation of the software.

Support - it is a good idea to purchase a support agreement from your supplier for your new accounting package, at least for the first year of operation so that you have a readily available contact to help sort out queries and problems. Many small businesses find that a support agreement is a good investment even after this initial period.

ISSUES TO CONSIDER WHEN MAKING YOUR ACCOUNTING PACKAGE SELECTION

We offer a wide range of accounting software’s and inventory software’s across a complete spectrum of brands, priding ourselves as total solution providers. Meanwhile our extensive, well-trained and readily available team of engineers is waiting to help you. Furthermore, we are listed as fast track approval consultants for software package solutions under iSPRINT BY IDA Singapore.

The market place for accounting software packages is more complex than for typical office packages. You will probably require continuing support and maintenance to ensure that you have someone to call to solve problems if and when they occur.

You may want to work with your accountant to submit your business accounts. To make this process easier for both your business and the accountant, it is important that you can exchange accounts data electronically.

You may want to use some special stationery with your Myob Software accounting package – e.g. standard or specially printed invoices, statements, receipts or credit notes. You may need these in multi-part or laser printer forms. Laser printer stationery is designed for use with a laser printer. Some businesses still prefer to use an impact printer such as a dot-matrix printer for accounts. In this case multi-part forms can be used so that several copies are printed at the same time.

The number of different Myob Software accounting packages typically used by small businesses in Québec is fairly limited. You can easily obtain information about all these packages from the Internet.

An accountant could also advise you on the most suitable package for your business.

CHOOSING THE RIGHT ACCOUNTING PACKAGE

Onestopaccounting.com, started since 1999 with more than 10 years, a Singapore company Specialist in Accounting software Singapore, selling wide range of accounting software, inventory software, retail point of sales system, payroll software, mail management software, human resource management software, time attendance software; that empowers business. We carry brands such as Sage_Ubs Accounting / EZ Accounting( IRAS Accredited Software) / EZ Payroll (Compliant With IRAS Guideline) / MYOB Software / Quickbook and customised solutions software tailored to your company needs.

Accounting packages can be used for all the important financial transactions in your business and you will rely on it to give you critical information about the health of your business. In order to make the right choice, you need to consider a number of different issues.

To get the right package for your business, you need to define your business requirements and then match them to the available packages. A good way to do this is to decide on the overall requirements first, then consider the more detailed requirements within that framework. For more information, see the pages in this guide on assessing your business' overall needs for an accounting package and on assessing your detailed requirements for that package.

Your package must meet all the statutory (legal) requirements that apply to your business and must continue to do so in the future, by, for example, submitting annual accounts that meet defined accountancy standards. Some requirements apply equally to all businesses, but others are specific to particular businesses and the way they operate. For example, a business that deals mostly in cash will keep accounts in a different way to a business that does not. If you have been running your business with manual accounts then you will probably be familiar with these requirements, but if not, your accountant will be able to help.

You need to consider what help you will need to set up, install and maintain your accounting package. For example, if you need to send in your GST/QST return, but a problem occurs with your accounting package, you need to be able to solve the problem very quickly to avoid penalties for a late return. You need a person or support organisation that you can rely on to sort out this type of problem. Understanding and defining your support requirements is a major part of choosing the right package.

How to choose the Business Accounting software

The first step you need to take in choosing accounting software for your business is to undertake a good needs analysis, which will address both managerial and financial needs. It should be broad, exploring both obvious questions and ones that really make you think. Take your time with this important step, since the last thing you want is to have to repeat this process within the next two years. If you experience unexpected growth that forces an upgrade, terrific, but good planning at this stage can help you avoid having to change software too soon. Get some help before you buy anything.

What you need to know about your business

The first step you need to take before deciding on accounting software is to make sure that you are somewhat financially literate. "One of the mistakes businesses make when they buy accounting software is in believing that they don't need to know anything at all about financial accounting software .

There are several ways that an entrepreneur or small business executive can become proficient in understanding what data their business needs to keep (in order to make better business decisions) and what reports they need to generate (for the Internal Revenue Service and state tax authorities). You can read books. You can take classes. You can do research on the Internet. "You can't use any accounting software if it's like garbage in and garbage out," Pinson says. That's what the result is "if you don't understand what you're putting in."

Another consideration is the type of business you operate. Several different sectors have specialized modules or add-on packages because they need to keep specialized data. If you are a manufacturer, for instance, then you may need to have an understanding of inventory and handling of parts and labour. If you are a retailer, you may also need to have an understanding of your inventory through a point-of-sale program. A doctor's office needs specialized programs for billing insurance companies, although many may farm this function out to middleman and/or consultants.

Talk to your accountant and staff

If your business has an accountant -- either an outside consultant or an in-house accountant -- you would be wise to consult that expert before you take the plunge into accounting software. Your accountant may be able to recommend software that works with programs they have. In fact, Pinson says, some accountants may help you set up your accounting software so that it gathers the data that they need to help you file your taxes, as well. "They know what kind of business you have and what you need," Pinson says. "Most accountants work with a particular software. Frequently it's QuickBooks. They'll want you to use that same accounting software."