The benefits of a computerized account management package – one less thing

The days of green pillar books and pencils are long gone. Today’s businesses, large or small, are finding it easier to keep accounts thanks to the benefits of a computerized accounting package or software. Rather than juggling multiple books and hand-written duplicate entries, transactions can be entered into the program in one place and automatically credited or debited to the appropriate accounts. Computerized accounting is the best time-saving development for small business owners since the automobile replaced horse-drawn carriages.

The benefits of a computerized accounting package go so much further than just making data entry easier. Many software packages allow you to easily generate reports and financial statements to give you an instant, real-time view of the financial health of your business. Reports can be customized to show sales trends for specific customers or market segments, or to compare marketing spend to changes in selling behavior. Almost any report you need can be generated with a few keystrokes. These reports can then be emailed to partners or collaborators, with many programs providing the functionality within the program itself.

Banking activities such as reconciliation of bank statements can be handled automatically by linking the recording software to online banking services. Updating bank balances to include ATM or debit card transactions can be done with one click. Additionally, payments for expenses such as utilities and vendors can be entered into the system. Some packages even offer the ability to create a printed check for payment without having to enter any additional information. One click is enough for the check to be printed, the payment credited and the capital account debited. As you can see, the advantages of a computerized accounting package keep account activities more accurate while saving time.

The benefits of a computerized accounting package are numerous and vary by program and company. However, with the many features available and time-saving options, these packages help business owners do one less thing or get done. Bookkeeping, accounts receivable, accounts payable and payroll accounting no longer have to cause grief and gray hair for the small business owner. There is no need to spend hours studying accounting procedures or hiring expensive accounting staff. A simple computer program can do more in five minutes than a human can do in twenty. In business, time is money, so any time saved is beneficial.