In spite of being in the era of new world where technology is given highest priority on to complete tasks such as accounting, there are still a lot numbers of businesses or industries they depends on manual accounting on a sheet.
Perhaps if anyone have small business that means something like general store,etc., then they keeps all record in books or manual spreadsheet because they do not have much to do with software or spending extra INR on buying and installing software and if there is wide business then manually it is difficult to maintain all records then at that moment it is necessary to use accounting software as one can easily maintain their whole records without any difficulty.
So choose wisely that whether you have to use manual or digital accounting or with whatever you are comfortable with your accounting. So both manual and digital accounting have some benefits based on your scale of business.
Just in case something goes wrong with the system, some of them still use manual sheets. But as we know technology is advanced now on extent, like any back-ups can be copied and restored to the computer device within a small period of time or we can say within a seconds. This allows business or industries to continue their operations smoothly without any big problems or hiccups.
Some of the myths and concerns that anyone should keep in mind before implementing an accounting software for any business are been shown as follows:-
Cost is the first thing that every business person looks at. It would not be wrong if i say that doing accounts manually is cheaper, because for manual accounting you just need a spreadsheet. Difference is that it will take more time than the online accounting software.
we also have to hire employee to operate that particular software.
2) Difficulty in Learning New Software
It will take time to get familiar with new software. New Features and functions are labelled so user have to learn it and once you get used to the interface with particular software regularly, it’s not difficult at all. To remedy this, take time to understand your accounting software, whether that means taking a reputed class or by reading the manual provided while installing the particular software.
Manage Expenses and invoices in software will usually take more time. If using the computer is not a major part of your daily routine, the time required to process regular financial data may be more significant of benefit obtained from the software.
For maintenance of account software it not only includes performing upgrades for accounting software package, but also maintaining and upgrading all the necessary equipment to use the accounting software as new versions. Equipment often includes our PC or laptop, monitor, printer, Internet connection. If you do not wish to spend any money to keep your devices or equipments up to date with the accounting software, then it is best to use manual spreadsheet.
5) Accounting is important at tax time.
Tax time is the most crucial weeks for business or industrial person, but it is definitely not the only important time. Actually, it’s necessary that you keep track of your records of all times yearly. If you stay on top of your finances throughout the year, filing will be much easier, and you will be able to take advantage of growth opportunities while increasing risks from any source. Staying current on the records is one of the best ways to ensure continuity in your business.
6) Manual accounting is fine. If it isn’t broke, why fix it?
Accounting software carries too many benefits that we can not consider. You are most likely wearing different clothes, and accountant is just one of them. Bu you simply do not have enough time. Different digital solutions are specifically created to small business needs, which can give owners customizable tools to achieve success.
This means it is a much more efficient than manual spreadsheets records, making your business more productive and reverting you some of that valuable time.
So based on this all myths choose wisely whatever you have to use whether manual or digital accounting.