Switching from Manual Accounting to System or Computerized System
One of the most challenging decision business owners face nowadays is whether to continue using manual process for accounting of business transactions or change into a computerized system. To help business owners make a sound business judgment, one very important factor to consider is if the benefit to have this computerized system outweigh the cost to implement this. Computerized system can be further classified for those specifically created for the company and which usually cost more because of the planning and development stages to arrive at the best system design specifically applicable to the business operations’ unique processes. Most often, this cost more than having a ready to install and ready to run software package like MYOB. There are also accounting software which require you to pay monthly for the use of the system but if you add these costs along the many months you get to pay, you will realize that you save most in purchasing MYOB one-time than paying monthly for another software. When you stop your subscription for these online software programs, you will lose your access too, except if you have sufficiently made back up to all your company files.
Cost to have an accounting software range from the cost of the software package, program development costs if you want your own accounting system designed specifically to your business operations, the time spent on having to plan and evaluate the adequacy of the system before implementation, training costs for your staff, any additional computer hardware requirement and licensing. Also, there are other staff or business partners who are not comfortable having to change and you could possibly face resistance from them especially if they say that the cost would be so expensive and if you don’t know how to approach at the numbers and money involved, you cannot ascertain and appreciate the benefits of having this system if you just focus on the short-term cost associated with this and not looking at the long-term cost savings. This holds true if you currently have 2 employees helping each other to manually keep track and record all business transactions who would also incur overtime works to finish the job. It is also possible that the workload is so voluminous that you as business owner is also involved in doing the clerical job, instead of you having to devote your time to growing the business more and being aware of the market and completion development in the area of your business. If you have a good accounting software like MYOB, the time to manually do the job should be decreased and also enable you to devote your time more on growing your business, aside from having timely financial reports.
The benefits of having an accounting software especially MYOB desktop version outweigh the cost on the long run to produce a wide range of reports and produce timely reports ranging from sales, tax, purchases, accounts and many other built-in reports. Also, you get to get away with the accounting system planning and development phase which surely cost you more than buying the MYOB system and have it running all at once and start to use it. If you are undecided which MYOB program to choose contact us and visit our website at http://www.a1corp.com.sg/