5 Reasons Why Small Businesses Should Use Accounting Software

Posted by sunainaram on December 2nd, 2015

Setting up and running a small business is a huge step for any entrepreneur. As a business owner, if you are looking for a solution that will reduce your work load, take advantage of good accounting software. There are plenty of firms in India offering accounting software programs customized for small businesses. A small developing firm will not need extensive ERP program like a huge company. A simple software program that will deal with their basic inventory, financial, customer and resource management will be enough. If you are still looking for reasons to switch to a reliable accounting software, let’s spell them out for you.

Organize all your Finance
First and foremost, the software application will help organize all your finances. The POS will allow you to efficiently manage the billing and invoice. As all the bills are automatically digitized, the earnings can be easily totaled at the end of the day. Moreover, the POS allows you to integrate your inventory with the billing details. So, you can keep track of the items that are sold, and replace them as and when the stock reduces.

Manage your Inventory
Many accounting software applications in India offer inventory management as one of their features. The details of the product, its price, expiry date (if applicable) can be uploaded to the system. The upload process is made easier by the barcodes used on most brand products. Once all your inventory details are digitized, you can simply update the listing as and when you get more fresh stocks. With the inventory management system integrated with the billing section, the software automatically calculates the reduction in stock. So, you don’t have to worry about running out of stock at any point of time.

Versatile Reporting Options
The accounting software will generate plenty of reports depending on your business requirement. So, if you are submitting your accounts for the annual auditing, you don’t have to spend time and effort on gathering all the bills and invoices. Everything is already available in the system. It makes your auditing job easier and more efficient.

Customer Management
When you have all the details digitized, you can easily manage your customers. Whether it is rewarding loyal customers or creating gift cards and vouchers, you can do it easily with the accounting software. Plus, if the customer comes back for a return or exchange, you can easily find the item using the billing ID. The efficiency will surely please the customer and encourage them to come back again.

Improve Efficiency
On the whole, accounting software will help improve your work efficiency. It saves the time and effort required to manually maintain all the records and accounts. Plus, you don’t have to worry about the accuracy of all the calculations as it is completely automated. So, no cross checks or verifications at any point of time.