Why does your small business require an accounting software for small business?

 

Why does your small business require an accounting software for small business?

The accounting software are built for many requirements and since business differ in size the management capabilities are taken into notice and created accordingly. Every business requires an accounting software so does your small business.

Accounting software as we know organizes your business and manages all your accounts tracking every detail updating you with daily reports. In order to improve your business so your small business can expand faster you need a management system that will handle your business in the smartest way possible.

Why does your small business require an accounting software?

Being a small business owner it is good to stay updated with what is happening in the business. In order to keep up with your competitors and expand your business from small to medium you need to have an accounting software that will help you reach your goal. Here are some highlighted points that will give you the clear reason why you need an accounting software for small business.

  1. Real access to your information

When you are able to access to information with such ease. It gets easy for you to manage your business. The real time access helps you to manage your business from any location so you don”™t have to worry about your sales and other matters when you are away. Everything gets updated to you in the software and all you require to do is access the software for your information.

 

  1. Reduces costs

Accounting takes up a lot of time and takes up a lot of expense as well. In a business there are a lot of expenses that you need to spend on but with an accounting software you can always reduce your expenses. It helps you in managing the business with less number of employee and improves your work flow plus helps you in having better sales. It gives you time to relax and spend more time building your business rather than you spending time in managing it.

 

  1. You can detect waste and other errors

As it synchronizes your bank hence, you can compare the bank statement and your company checkbook and find out if there have been any mistakes or any fraud has been done. You are provided real time updates therefore you can learn about transactions done there and then so you remain aware of any wastage done.

 

  1. Automatic upgrades

Using a cloud accounting software you will need not upgrade your software as it will automatically upgrade itself. This way your business will stay updated with the other business and you will be able to manage it in the best way possible. Many other software demands updates from time to time but a cloud accounting software is a smart software that will upgrade itself.

 

  1. Information source for others

When your business applies for a loan the bank does a background check on your business and in this way they learn if your business is suitable for lending a loan or not. Hence, you can keep everything under check and be ready before hand. Your errors and mistakes can be clearly viewable and this way you will get the chance to correct it all and be ready for the bank.

 

  1. Employee management

Your employee needs to be under constant watch so they will work efficiently for you. Thus you need to manage their leaves, vacation packages, paid leaves, salaries, etc. This helps you in keeping a clean record of every individual so you know how every employee has been performing.

 

  1. Increase in profit

Every business owner is looking for profit and that is possible with an accounting software. As the given points on top, they result in increase in profit in an easy way. Your business can enjoy faster profit and easier way of making profit from small things.

 

  1. Backup and security

Backup of your data is one of the most important requirement as you must be able to track back your business in time and save the daily reports. Security is also a must as your business has delicate and confidential information and much more that needs to be handled with care and no frauds or unauthorized access must be allowed to access it. You can keep your business safe using an accounting software as it will provide you with easy backup and bank level of security.

 

Which is the Right accounting software for small business?

Finding the right software for a small accounting business software can be a little difficult in case you do not possess much knowledge about accounting software hence first learning about them and researching will be required so you can find the suitable software.

 

However, Reach accounting software is one of the best software available for small business. It is a feature rich powerful software.

Reach is easy to handle and manage, it is customizable and is a complete accounting software. It is cloud based, hence you can store all your data in the cloud and access it from anywhere and any device like iPad, tab, cellphone, etc. It backs up your data every 3 hours and has a back level security of 256 bit encryption. Reach also comes with accessibility restriction menu so you can restrict areas that you want within your software for more privacy. It also shoots an OTP every time an employee logs in from outside office. Reach comes with an antivirus making sure that your system is always safe from virus attacks.

Reach is one of the most suitable software for small business as it is tailor made for SMEs hence you can utilize it to the maximum. It is not just an accounting software, it comes with features that can do much more just than accounting and taxes. It has billing software, customer management software, inventory management software and much more to simplify your business to the extreme.

It is also cost effective and helps you to make better decisions are Reach provides real time updates, allows you to check profit level and provides suggestions based on the data provided and collected by it about and from your business.

Reach also helps in improving your business workflow and cash flow which leads in faster business process and sales leading to more profit in shorter period of time.

TOP 5 ACCOUNTING SOFTWARE FOR SMALL BUSINESS

1.REACH SOFTWARE

Reach is a cloud based software which helps to increase the sales, productivity, enhance customer experience and multiply profits.

FEATURES 

Order Management

Manufacturing Management

Warehouse

Point of Sale

Lots and Barcode Management

Project

Accounting

Invoicing

Multi Branch

Purchases

Sales

Access

Multi Company

Auditor View

Mobile Application.

Business Automation

Operations and Process

Loyalty Management

Addons

Tally Import

2.MOIBOO SOFTWARE

Moiboo  gives you the freedom to control your business even when you are not in office. You can check your business information on the go just like checking your e-mail; from your computer, laptop or mobile phone. Your employees can log-in and work at the same time sharing data and information online.

Accounting Management

All functions pertaining to Accounts are inbuilt in the software. Helps in maintaining and Managing the Accounting Ledgers, Expense Management, Purchases & Sales, Warehouse Management, Financial Reports etc.

Tax Management

Reach software automatically calculates taxes on every bill created.Any number of taxes relevant to your business can be added in the software. In case of any change in the tax structure, the same can be incorporated in the software.The taxes will be calculated automatically. The multiple tax scheme can be applied to multiple products on a single purchase

Income Management

Quotations can be created and the same can be converted to Sales order or Invoice . From the Invoice Receipts can be generated. Accountants will be able to know what payments have been received and what are the pending payments. Reminders can also be set for the pending payments.

Expense Management

Similar to Income Management, Purchase orders can be created and the same can be converted to Bills or payments. Accountants can get a clear idea on what bills have been Paid and what bills are pending. Reminders can be set for the pending payments.

For more details login to : Accounting Software Small Business

3.NETSUITE SOFTWARE

NetSuite enables businesses to handle major business operations in one, integrated software program, consisting of customer relationship management; order management and completion; managing inventory; finance; ecommerce as well as Website management; and employee efficiency.  Financial information through NetSuite can be accessed through a Web browser or mobile device.

4.SAGELIVE

Sage Live is a cloud-based and mobile ready accounting platform for small and mid-sized businesses. Key features include multi-company, multi-currency, and multi-legislation support, personalization based on user role, bank integration, and accountant online access. The suite includes a core accounting module with integrated applications to manage billing & invoicing, fund accounting, expenses, work orders, budgeting, forecasting, and reporting. Third party applications are also available for time tracking, job management, and project accounting, and the system integrates with Salesforce CRM for no additional charge.

5.Multiview Software

Multiview is a financial management solution that includes financial reporting and analytics, general ledger with budgeting, A/R, A/P, POs with requisitions, as well as inventory, order entry with invoicing and fixed assets. Alerts with dashboards, WorkFlow.In addition to financials, Multiview also offers a reporting and analytics environment with the ViewPoint tool. 

 

For 15 days free trial click on>> Demo

I’m a tax expert with over 10 years of professional experience. I’ve gained practical insights on GST and other Taxes during my tenture as a Tax expert and GST Trainer in Reach Accountant.
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