Why use accounting software? Benefits and interests

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Many companies choose to carry out their accounting internally. This can facilitate the visibility you have on your accounts and you can access your accounting at any time.

To do this, you must first consider who could do it within your company: train someone for this purpose, or hire a professional accountant on a regular and part-time basis.

You can also choose to do your own accounting and hire a chartered accountant for the annual closing of your accounts. Once this choice has been made, you still have the choice of the accounting software. We will see here the advantages, advantages and disadvantages of this type of software.

Save time to ensure your production and sales

An accounting software is an accounting and financial program that allows you to do your own accounting. Note that it is mandatory to use secure accounting software since January 1, 2018. An accounting software is very useful, it allows you to:

  • Manage your general accounting, by setting up an accounting plan and logs
  • Record your accounting entries in these different journals
  • Manage your accounts with your customers, suppliers and employees
  • Manage your fixed assets and their depreciation (mode, duration…)
  • Carry out cost accounting
  • Manage your tax obligations (social declarations, VAT, etc.).

You can view your account balances at any time and generate summary documents. But of course also your annual accounts (balance sheet, income statement, general balance…).

Enjoy the benefits of accounting software

There is a multitude of accounting software, more or less complex or easy to use. It is up to you to choose the one that best suits you. But be aware that accounting software is generally composed of modules.

You have the choice of developing your accounting software in-house or purchasing it directly from a software supplier. For example, it is possible to have accounting software and continue to keep invoices in an Excel spreadsheet.

Then opt for an additional commercial management module. You can therefore add modules at any time that would better suit your business (invoicing, payroll software, sales management, etc.).

Like many software, computerized help saves a significant amount of time and allows the company to focus on its core business rather than wasting time on activities with low added value.

The automation of tasks such as the automatic calculation of VAT and the reminder of unpaid invoices can make your life much easier.

The purchase of accounting software can also limit the margin of error in your accounts. By refocusing all accounting data in one place, the software can avoid duplication, but also inform you of legislative changes in finance and accounting, or simply reduce the margin of error of inattention by automating tasks.

Finally, accounting software is also an exceptional analysis tool, which will allow you to know exactly where your accounts stand. But also to have easier relations with your accountant. You will be able to provide him with clear and automatic documents.

Define your needs before choosing your own

Accounting software can change the life of your company, but first you need to define precisely what features you need. Your accounting software should be chosen according to:

  • The size of your company (VSE, SME or large company)
  • Your annual budget for this area
  • Your operating system (Windows or Mac)
  • Users’ accounting skills (accountants, accounting assistants, etc.)
  • Whether or not you want to manage your quotes, invoices, payrolls, expense reports, etc.
  • If you want to be able to export the data to an accountant
  • Whether the software will be used online or as a single workstation
  • If the tool must be interoperable with other management solutions (ERP for example)

This is a non-exhaustive list of questions but it includes the main questions you should ask yourself. Once you have asked all these questions, you will know if you want to use an accounting software and which one you want to focus on. Remember that accounting software is essential if you want to keep your own accounts.

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