Is it time to upgrade your Accounting Software?

Is it time to upgrade your Accounting Software?

It goes without saying that intelligentPA fully endorses the use of cloud accounting software.

We don’t mind saying that we endorse accounting software because it is an internal part of our business. But even if we were not involved in the online accounting sector we would still rate it.

Here are 9 reasons your company should be using the latest in accounting software if you are not already doing so:

1. Controlling Spend

Upgrading legacy systems does require an initial investment in time. Yet over time, a high-quality software solution ends up costing less to operate and maintain. Upgrading your accounting system is therefore a fantastic way to control the amount you spend on accounting. You will spend less by keeping up with the times.

2. Routine Business Tracking

The future success of any company relies heavily on the ability to track past performance. Modern accounting software makes tracking as simple as customising reports of past progress.

3. Customer Visibility

In addition to tracking a company’s performance over a specific amount of time, businesses also need to track customer histories. That can be done through invoicing, transaction, and marketing reports.

4. The Vendor Tracking

The tracking does not end with a business or its customers. Companies need to be able to track their relationships with vendors. Once again, modern accounting software offers a plethora of reports for that purpose.

5. Data Imports

Some manual data entry is unavoidable. However, modern accounting software almost always allows for data imports. Companies can import data from their banks, for example, thus eliminating the need to enter every single transaction as it happens.

6. Accurate Reconciliation

Doing accounting by hand or with a legacy system means being able to reconcile your accounts even if errors exist. Modern software does not work that way. Your accounts cannot be reconciled if you forget to enter all the required data, or some of the data was entered incorrectly.

7. 1-Click Financial Accounts

Modern accounting software can provide accurate balance sheets, profit and loss statements, and other reports in real time. These kinds of statements are invaluable for a lot of different purposes.

8. Scalability

One of the biggest problems of legacy accounting is that it is not easily scalable. Business owners who upgrade quickly discover that scalability is not an issue with the right software package. Any small business pursuing a goal of growth and expansion needs to keep the scalability of accounting in mind.

9. Less time spent on Bookkeeping

There comes a point in the life of every successful company when the business owner no longer has the time to dedicate to accounting. This can be addressed in one of two ways: hiring a complete accounting staff or utilising the latest accounting package that keeps the need for dedicated accounting staff to a minimum. We prefer modern accounting software.

 

We have given you 9 great reasons to consider upgrading your legacy system to state-of-the-art accounting software. intelligentPA is here to help you get a head start with an award winning cloud accounting package.

Contact intelligentPA for more information.

 

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