A Guide to Small Business Accounting Software
Singapore Accounting Software Market
Computerized Accounting Packages
One essential requirement in running and managing an organization is the need for clear, relevant and accurate information. In particular, an organization needs accounting information that gives a complete picture of all financial transactions that have taken place and the current financial position of the organization. Accounting information is vital to the owners and managers of business organizations, and there are often other stakeholders who have an interest in the financial performance and position of the business.
At an organization’s financial year-end, the accountant will prepare financial statements including trading and profit and loss accounts and a balance sheet. The system that provides all the information for these final accounts is known as the accounting system. The quality and accuracy of the information presented in the final accounts depend entirely on using an effective accounting system correctly.
Beginning with the source documents that show financial transactions, accounting staff will need to classify and encode the information before inputting the details into the system. However, organizations need information quickly and manual systems can be slow. Computerized accounting packages are based on double-entry principles and will give informative reports in a matter of seconds. Organizations will adopt the most suitable accounting system for their resources and needs. Whichever system is chosen, the year-end task of preparing the final accounts remains the same. Organizations rely on effective control of resources including cash. Most organizations depend on making a profit. The accounting system is an integral part of managing money so the survival of an organization depends on that system
EZ Accounting is dominating the Singapore Accounting Software market for small businesses. The best part of this accounting software is its easy implementation and use. Trained accounting professionals are readily available in the market due to which employer is not required to train their employees.
With EZ Accounting you can manage all most all of your accounting things like inventory, sales, purchases, manufacturing cost, payroll, and other statutory year-end processes. Singapore accountants are so used to this accounting software that it will be very difficult for other products to take over EZ Accounting.