The Advantages of Accounting Software
March 18, 2017
March 18, 2017
The new technologies have revolutionized the way companies understand and manage and in the case of the self-employed could not be less. Having an Accounting software involves not only changing the way you manage a business but also take advantage of advances in computing to optimize the time and money of the self-employed. These are tools that do not need downloading, so the professional can always carry his office with him.
Also, possibly one of its maximum advantages is its easy use, since you do not have to be an expert to use it. There are different types of programs: some without download and others that you need to download on your computer. You can access your office from anywhere. All the data of your business will remain stored in the private cloud of the company that offers the service, which increases the security of the same, although still many people are suspicious of this circumstance.
Features of Accounting Software
One of the main characteristics regarding the use of these programs is that they allow you to issue invoices, whether complete, totally professional, which will contain all the data that you need to include as an autonomous according to the current legislation. Also, you can customize them with the logo of your company and send them directly to your customers via email, without having to resort to external platforms or attachments. As a result, you save a lot of time and optimize the work.
Also, the idea that these programs are invoiced much faster because they allow you to enter all the data of your customers, suppliers, or products that you will include in the invoice with just a click, thanks to the bases of data that allow you to create. And, of course, the software will include the necessary taxes for you, making the total calculation of the sales price, and will allow you to easily see which bills have been collected or which are pending.
The accounting software is also considered an accounting tool, since every time you indicate that an invoice is charged will make a so-called double note. This means that you will not only consider that invoice is charged but, also, it will add in your corresponding module, both the income and the impact on VAT or IRPF, to meet your quarterly tax obligations. The same thing would happen with your expenses, which you would have to add also with an invoice, but with a supplier, so of course you can calculate very easily and much more controlled your tax deductible expenses as a freelancer.
Management of your products or services
As indicated above, any data can be included in a much faster invoice with accounting software, thanks to the databases that you can perform. If you have several products or services, you will have the possibility to create a tab to each of them, in which you will add all your data, from explaining what it consists of, materials, features, cost price and sale, taxes that must be added, etc. Thus, the software will automatically enter all data so that any invoice can be made in few seconds, however long or complicated.
The software will help you manage these two groups following the same system of product databases, so you can easily include all your data in the invoice. Also, each customer card will allow you to see a list of the invoices that you have issued, differentiating the collected or pending and in each tab of vendor you will see your purchases pending payment with a simple glance.
This type of program allows you to add all the bank accounts that you have linked to your business, as well as methods of payment (credit cards, cash, and checks). You can expand more information with our article use your online accounting software to monitor the progress of your business’s bank accounts.
We recommend using accounting software such as Pi.TEAM, XERO or QuickBooks. Pi.TEAM is a complete program to take the accounting of your business with maximum speed and accuracy. Also, by simply emptying the information of your chart of accounts and the accounting records of the period, you will get all the associated reports automatically: balance sheets, invoicing, major analytics, checking balance, a list of accounts, inventory management among many Other reports that will greatly facilitate your daily work.
Pi.TEAM offers solutions to our many customers around the world to help them become competitive in a global marketplace.
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