The Popularity of Accounting Software

With the rise and popularity of computers the use of computerised accounting software is forever increasing. Traditional methods are becoming outdated, as the ease of accounting software is becoming further user friendly and efficient.

What Makes Accounting Software so Great?

Speed – Due to the amount of data that is required within accounting, users find accounting software to be much more efficient when it comes to data entry. This is because there is no need to sort through many filing cabinets to find a specific customers record. Additionally because the software can automatically produce financial documents, there is no need to manually create them, saving a lot of time when creating: purchase orders, payroll slips, invoices and such forth.

Accuracy – Instead of manually carrying out calculations, these are now computerised, negating effects of human error.

Money Saving – As the whole system is much faster, this reduces staff time spent carrying out the tasks, in turn this can lead to time spent focusing on other value-adding tasks within the business. Alternatively staff hours could be reduced leading to an increase in profit. Also due to the organised records, which are also more likely to be accurate and current, a lower cost should be seen in external audit fees.

                                      

How to choose what software suits you?

After understanding why a software accounting package is needed, the needs of the business must be understood to be able decide which package is most appropriate.

For small businesses, a package offering payroll and general accounting processes would be all that would be required. However higher priced packages become more inclusive of features, including features such as inventory control and point of sale services.

In addition, cloud based accounting packages are becoming increasingly popular, allowing access to the software from any device. The central hub of information no longer being the hard drive in the office, allows an increasing security.

Xero

Xero is an award winning cloud based software package, suitable for self-employed workers and small businesses. Featuring key features including: automatic bank reconciliation, inventory, report creation, unlimited user logins and integration with over 350 3rd party applications. This package is easy to set up and use and costs as little as $9 a month. An all-round comprehensive piece of software suitable for most accounting needs.

Aplicor

Focusing on small business needs, Aplicor is perfect for growing companies who need their software to be able to cope with the increased demand. With integrated cost accounting and analytics, product catalogue management, sales and purchase orders and inventory. A flat fee allows easy budgeting within the accounts, and the cloud-based software decreases risk of losing data.

BQE BillQuick

Dedicated to helping your company streamline processes and allowing for faster decisions. This software package is a solution for time and expense tracking, billing, project management as well as accounting. With a free trial available, all users from single people to large enterprises can benefit from the features.

Kash Flow

Jargon free software that is web based and cloud based and simple to use. Featuring a 14 day trial and free and accessible support. A quick and easy setup will allow you to get to work fast, using the payroll, invoicing and customisable features straight away.