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Auditing & Accounting (3)

 

What is QuickBooks?

QuickBooks is one of the most popular and pioneer in accounting software for small and medium sized businesses. It is the product of Intuit Inc. that provides an easy-to-use interface for small businesses to take care of their basic and medium type accounting needs. 

QuickBooks provide two types of products. One is software-based product which can be installed in the computers and used. Other one is QuickBooks Online which is cloud-based product which can be accessed from anywhere through online. 

 

Why QuickBooks is suitable accounting software for small and medium businesses?

1. User friendly
QuickBooks software is easy to use and easy to understand. Even business owners, who do not possess any accounting knowledge or financial background, still can easily understand it. They even can enter the data and extract the reports they want.

Friday, 05 August 2016 18:23

Why does your company need an External Audit?

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Today many companies think that auditing the accounts once a year is something they must do by law. But most business experts agree that the real value of the audit process is more valuable than that you think.

Today many organisations operate under loss but assuming that they are in profit. This is mainly due to unavailability of correct financial information or improper maintenance of books of accounts. No doubt, Accounting is a vital success factor in a business. It is what shows the real face of a business. How do you know that your accounting process is going well?

In fact, you need independent, unbiased and professionally qualified experts to verify and confirm your accounting process and the success of your organisation. They are the external auditors.

 

Many small and medium-sized business owners are aware of the importance of using accounting software. The days of the accountant using a “pen and paper” system through the ledgers are most certainly over. Today even the smallest business has some form of accounting software to make life easier and to create efficiency for the finances of a company. 

 

Benefits of Accounting Software

1. Fast & Efficiency 
Time is money and for this reason, you should do whatever you can to become a more efficient operation. Using accounting software allows businesses to process their accounts with greater speed than manual processing.