Shopping for Accounting Software is Easy

If you are a businessman in Singapore, you must be using manual accounting system as keeping books is a legal requirement here and there are stringent penalties for those who fail to do so. Manual accounting has been in vogue for centuries now and has served the interests of businesses of all sorts effectively. But there has been a new system that is computer based and works much more efficiently for a business owner.

You can easily use accounting software irrespective of your background

No matter what your background, you would be surprised to find that you are able to keep accounts with the help of this accounting system as if you have studied commerce and been dealing with accounts in school and college. So do not for a moment think that you are at a disadvantage when it comes to using accounting software if you belong to science or arts stream. This is as if you are working on MS Word or MS Excel.

All a business owner is required to do, when he is using an accounting system in Singapore, is to record financial transactions as and when they happen in his business. For example, if you pay salary to employees or to the vendor for raw materials, just enter the transactions in the software at appropriate place. Then do not forget to enter the receipts also as this twin entry system forms the basis of accounts even in accounting software.

Generate financial statements sitting anywhere anytime

The biggest advantage of using a Singapore supported accounting software is that it enables the user to generate financial statements of his business that are up to date and without any error. Imagine producing your last financial year’s balance sheet without having to call your accountant and reaching your office. Sounds unbelievable, isn’t it? You are in the midst of your discussion with your bank manager whom you are requesting for a bank guarantee for an upcoming project and he suddenly asks you a tentative profit and loss account for the financial year in progress. All you have is a laptop and that is enough as you log in to your account and with a few clicks of the mouse, the accounting software generates what you ask it to produce, the current year’s financial statement.

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