Efficiency. With the software accounting package, you will not spend time on tedious calculations and will be able to perform other business activities. The basic accounting system is fairly easy to use. A basic accounting system is fairly easy to use. Once you have studied the basics of your automatic system, you will not spend a lot of time to look past transactions up and to create reports.
Accuracy. Using a computerized accounting system enables having fewer accounting mistakes. Whenever you have made a mistake, your software system will alert you that there is something wrong and makes it easy to find your error and correct it.
Legibility. The printed and onscreen accounting data is always legible that allows for avoiding mistakes caused by poor handwriting.
Automation. Depending on the program, accounting software provides fast, automatically generating accurate reports and payroll documents, creating checks, credit notes, purchase orders, credit notes, and printing statements.
Availability. The accounting data is instantly available even to different users from different locations at the same time.
Up-to-date information. The accounting records are automatically updated; therefore account balances (customer accounts) are always up-to-date.
Backup. With the computerized accounting system, you can easily backup your data and don't have a risk to lose your information. In the case your data is in the cloud, you have access to it from any location.
Speed. Data entry into your computer with the built-in databases of your vendors and customers details and stock records is implemented much more quickly than by any manual processing.
Cost. Computer programs decrease your or your employees’ time spending on doing the accounting and auditing as records are neat, accurate, and up-to-date. Using accounting software saves a lot of your time during the year and hassle at the end of the financial year.
If you want to have a successful business, you should use a computerized accounting management system. Using a manual accounting system requires a lot of time and is ineffective. At the same time, unless your company has not many transactions per month, accounting software will almost save you time and money.