The last thing you need to hear is that a robot has taken over your job. Since accounting involves numbers, there’s more need for automation since no one wants to risk any mistakes with calculations whether for company budgets or payrolls. Understandably, as an accountant, you don’t want these machines to take your jobs from you.
But hold that thought! They are NOT going after your jobs!
While accounting software no doubt has improved accounting operations significantly, there are a few flaws that cannot be denied:
- Fraud: Accounting information can be edited and forged by an outside party.
- System Configuration: It can be tricky to configure new software to the existing or old systems in a business.
- Cost: Some accounting software can be costly or have hidden costs when upgrading.
- Inaccuracy: If a formula is not updated for too long, the software will produce inaccurate calculations.
- Potential Data Loss: System shutdown, maintenance, cloud system closure or hacker can cause significant data loss.
Table of Contents
- 1. Accounting Software As Your Assistant
- 2. How Can Info-Tech Accounting Software Help?
- 1. Tax Compliant
- 2. Budget Modules
- 3. Customizable Quotes & Invoices
- 4. Connect With Banks
- 5. Integration to Payroll Software
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- 3. So Don’t Be Afraid of Accounting Software!
Accounting Software As Your Assistant
Instead of thinking that accounting software will take your jobs, why don’t you think of it as your assistant?
It’s like using a calculator. You would say that learning mathematics is useless since you’ll use a calculator in the end but it serves as a tool to assist you. You still do simple calculations in your mind or with your hands but when you want things to be fast, you use the calculator.
It’s the same as accounting software. It needs the help of a human accountant. Who will handle the software’s configuration, organisation and formulas? Why, it’s you!
How Can Info-Tech Accounting Software Help?
Everything needs to be fast but most importantly, it needs to be accurate. The last thing you need when calculating is having errors and for accountants, these are death sentences for their career and their life.
Those doubts will be at the back of your head reminding you if you’ve done everything right or missed even a single number on your accounting. A human mind and eyes can only process and see so much.
As mentioned, accounting software can be your assistant when performing these processes. Here are some of the features the software can help you further:
1. Tax Compliant
Calculating taxes can be time-consuming especially if there is a change of rates within a short period of time. The changes need to be immediate and accurate so there will be no problems arising.
With some configuration and inputting the new rates into the software, you can ensure that any calculations for invoicing or payrolls are tax inclusive.
2. Budget Modules
Need a hand to deliver swifter financial and business strategies? Our budget modules are integrated with real-time financial numbers to ensure smooth accounting processes.
3. Customizable Quotes & Invoices
Create and customize your quotes and easily convert them into invoices. These invoices then can be sent to customers immediately.
4. Connect With Banks
You can connect with your local banks to the accounting software and set it up for daily bank feeds. You can also receive bank statements through the software with ease.
5. Integration to Payroll Software
Info-Tech’s accounting software can be integrated into payroll once you’ve done your payroll calculations. When everything is properly set up and checked, you can sit back and let your software administer the payrolls to employees.
Read also: https://www.info-tech.com.sg/blog/common-features-of-accounting-software/
So Don’t Be Afraid of Accounting Software!
Without an accountant, the accounting software won’t even know what it’s doing. Since you’re the one that needs to keep up to date with any changes in the industry, the tax laws or any changes to a business’ budget, you will need to update the software for it to continue assisting you!
If you’re thinking of trying out accounting software, Info-Tech offers a free trial for you to see if it’s the right fit for you. Contact us at sales@info-tech.com.sg or +65 6297 3398 for any enquiry.
