Thanks to the changing and developing technology, hand-held accounting books are about to become history. Today, many businesses with different scales carry out their transactions with accounting programs, accounting platforms and pre-accounting programs. These platforms and programs, which can be integrated with other systems of businesses, combine all transactions from sales to delivery and tax payment.
Compared to physical ledgers, these programs and platforms have many advantages. The importance of accounting programs is increasing day by day as tax offices and other official institutions switch to online systems. The programs, which are configured according to the needs of the business, allow many transactions, from tax returns to issuing invoices, to be arranged through a single panel.
Which Modules Should Accounting Programs Have?
In fact, there are dozens of different options when it comes to accounting program modules. In many cases, these modules are tailored to the needs and operations of the business. For example, the accounting needs of a traditional export company and an e-export business will also differ.
Still, some basic modules are required for electronic accounting transactions. Inventory entry and exit tracking is essential for any business dealing with trade. Similarly, purchasing and order tracking modules are among the must-haves. These modules can be arranged to meet the needs according to the field of activity.
On the other hand, waybill transactions, current account management, invoice transactions and cash management are modules that are generally standard in all businesses. These modules, called basic accounting transactions, carry traditional accounting book transactions to electronic environment. Adding modules according to business needs helps to get high efficiency from these programs.
Xero accounting program can be accessed from anywhere. Thanks to smart devices such as tablets and smartphones, it is possible to make necessary arrangements even on the go. Programs, which also benefit from cloud technology, allow the desired information to be used instantly and data updates. You can ask for Xero pricing from reputed accounting firm in Singapore experts. These professionals offer multiple services like Business incorporation, immigration services, secretarial facility and many more. These specialists also provide Entrepass to work in Singapore.
Retrospective Control Opportunity
Checking the accuracy of the entered data and making corrections when necessary is easier thanks to the accounting software. Correcting errors made in physically kept accounting books is a laborious and complex process.
In addition, in case of any confusion, the possibility of retrospective control is provided. Like physical records, electronic records are also kept for a long time. It is also possible to keep a physical copy of the electronic accounting records.
Thanks to accounting programs, making data backups is now much easier. The information in the program is backed up regularly to prevent data loss. In addition, the programs integrated into the cloud system, it is possible to access the data independently of time and place.
Different Activities in One Panel
It is possible to manage different commercial operations such as e-export, e-commerce, traditional trade and micro-export through a single panel. All processes, from product stocks to product delivery, can be managed through the accounting software. In addition, it is possible to perform transactions such as tax returns, thanks to specialized modules. Pre-accounting programs, which can also be integrated with existing systems, bring flexibility, integrity and speed to businesses.
Better Decision Making Through Enhanced Reporting
Accounting software can prepare weekly, monthly, quarterly and annual reports. By using the reports obtained, in-depth information about the commercial operations of the enterprise is obtained. Thus, decision-making processes in terms of commercial operations can be improved.
It is possible to save time by handling processes such as invoice approval and VAT reduction by the software. In cases where more than one official’s approval is needed, document and authority sharing over the system also allows the work to be done in a short time. Thus, paperwork that takes days can be completed in just a few hours, depending on the scope of the job.
Human error is more common in physical accounting jobs. However, it is possible to significantly reduce these errors with Xeroaccounting software. Programs with detailed definitions for data entry also perform the necessary calculations according to the predefined formulas in the program, which minimizes the errors that may be encountered during the calculation.