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There are many reasons why companies decide not to install special accounting software. These include costs and worries about complexity. Cloud Accounting software have been just about as long as humans have engaged in trade and commerce. This make sense because if we can to do business with each other in any kind of organized way we need a system that keep track all exchanges.
There are two main categories of accounting, financial accounting and managerial accounting. Financial accounting can manage information that is made by public to the stockholders, customers, and creditors and regulatory. Managerial accounting can manage information that is not shared with the public, such as salaries, profits, and the cost of goods produced.
Accounting software is essential if you want to be able to grow your business in a way that can be measured and predicted. Having a system to tracking your assets, liabilities and income lets you to make smart, informed business decisions based on the performance and present financial health of your organization.
Advantages to using Cloud Accounting Software instead of Excel:
- Cloud Accounting software developed by those who understand accounting. In Excel you have to design own process, which may or may not be best.
- It can quickly generate helpful high-level reports like profit and loss statement to help business planning.
- By using Excel, you might make formula errors. Erpisto Cloud based accounting software handles the mathematical backend for you ensuring accurate reporting.
- It offers audit trail so you know who is making changes to your accounts and when.
- With cloud based accounting software you can easily send electronic invoices to clients. If we are using excel, we have to create separate system for sending, receiving and resolving payments.
- With accounting software, you can easily work on your accounting on the go using a tablet or a smart phone.
Erpisto Cloud Accounting Software has a feature that can manage budget. It allows you to make budget of using capital. It can daily report of cash and with the help of that you can analyze daily cash consuming for purchase and can make some plan to improve cash flow. It also provides mobile app that allow you to use it from anywhere at any time.