Friday, 19 May 2017
WHY BUSINESS PEOPLE ALWAYS CHOOSE ACCOUNTING SOFTWARE
EZ Payroll is listed on
Singapore CPF board and IRAS as a approved vendor for submission of CPF text
file online and yearly auto – inclusion text file too for yearly IR8A of
employees salaries and all allowance and deductions.
This usually comes in
two types – desktop accounting
software or online accounting software. Desktop packages
come in the form of a CD or download that you install onto your computer. If
your accounts are simple, a basic software package should be sufficient,
although consider which features you will need in the future. Payroll and VAT
functions may not be relevant now, but check to be sure that the package you
buy can be updated with different elements as your business grows. Online accounting software
is considered by many to offer more flexibility than desktop software.
Accessing your accounting system via a web browser, your records and data are
stored securely, which can combat any loss by theft of computer crashes, and
can be accessed wherever you are or whenever you like.
Create invoices and
customise the look and feel
Track expenses according
to categories
Manage inventory,
inward-outward stock movements and wastage
Perform bank
reconciliation by importing bank transactions
Create purchase orders
(PO) and record inventory purchases
Create and manage taxes
Record Journal
Voucher entries
Manage list of
customers & vendors
View account payables
& receivabless
View Balance Sheet,
Profit & Loss statement and Trial Balance reports
Add additional team
members
EZ Accounting
had been proven to be more then just reliable. We have all the attributes that
SMEs are looking for: Up-to-date, Credible and Competent.EZ Accounting Pte.
Ltd, provides more then just accounting
softwares. We are friends to SMEs, providing them with the
answer to bigger, better business opportunities.
THINGS TO BE CONSIDER TO START UP ACCOUNTING SOFTWARE
Simple to use and user
friendly interface allows anyone whom had not used payroll software before to
kick start using it within 1 hour of on site training. Our payroll software has
the capability to auto compute CPF for submission online using it’s .TXT file
which cut down a lot of manually computation of payroll.
Leave management is
also included in accounting software which allows
staff to apply leave either off line or online whereby they can submit E-leave
or E-Claims online using our user friendly cloud system.
To find the right accounting software
for your business, ask potential vendors the following questions:
Is your software built
for small businesses?
Do you offer customized
solutions to fit my business's needs?
How many employees and
clients can your software accommodate?
How can your software
help me comply with GAAP, tax laws and financial regulations?
How is my data backed
up? Can access be restored immediately during an outage?
What security measures
do you have in place to keep both my business's and my customers' data secure?
What is the total cost?
Are there any setup or cloud storage fees?
What types of tech
support and customer service do you provide? (For instance, does the provider
offer your preferred form of contact, such as phone or live chat?)
7 IMPORTANT FACTORS ABOUT MYOB ACCOUNTING SOFTWARE
some of the features accounting software
should offer to help you save time and better manage your finances:
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.
DID YOU NEED START UP ACCOUNTING SOFTWARE FOR YOUR BUSINESS
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 myob 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 software
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.
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