Shifting from Manual to Computerized Accounting System

Your business is stuck in the Old Age if it still makes use of a manual accounting system in these modern times when almost all business transactions are already controlled by computers. While it is truly beneficial that you and your staff are knowledgeable of the basic accounting and bookkeeping methods and practices, it would not hurt if you move from manual to computerized accounting system with all the available accounting software for your business needs.

Benefits of Manual Accounting System

Cheap
A few small businesses in Singapore still have a manual accounting system, and that’s good. One good thing about the manual method is the cost. It is much cheaper than an automatic system, perhaps the main reason of small businesses as to why they are still using the manual method.

Comfort
There may also be some people who are not comfortable working with computers. For these people, they can do better with the usual paper and pencil method.

Not Dependent on Electricity
The manual method also works even without electricity. Unlike accounting software that cannot be used without electricity, there is no interruption with the manual method and the work goes on.

No Data Corruption
Unlike in computerized accounting system, data in manual method cannot be corrupted nor duplicated. These are usually the thing with accounting software such as Million.

Manual and Computerized: The Big Difference
Many big and successful companies in Singapore grew up using manual accounting system when they were having humble beginnings long time ago. However, with the rise of computers and accounting software such as Million accounting in Singapore these companies have come to realize the big difference between the manual and the automatic.

On Time
Accounting processes take a much longer time with manual accounting. Locating accounts and journals in the system, checking balances and reviewing information usually eats up the time that could have been spent for more productive tasks.
On the other hand, with computerized system, accounting processes are quick and easy. Financial data can be processed in an instant.

On Results
The results produced through manual accounting may not be absolutely correct. It is often subject to errors, which are avoided in business.
Committing errors is also possible with accounting software from Singapore. However, the errors are much faster and easier to track and solve compared with the manual method in which you would sometimes need to go over several worksheets, journals and folders to find out where the inaccuracies originated.

On Security
Another disadvantage of manual system is the lack of security. Since all data, including the sensitive ones, are contained only in ledgers and journals, there is a high chance that these data be stolen or seen by unauthorized people. Incidents such as fire and flood can also damage the office, including the ledgers and journals in there. If that happens, working on the accounts from zero is close to impossible.

With Singapore accounting software, all data are stored in the computer, equipped with passwords for security. Moreover, all accounting data can be stored in an off-site data backup centre. So even if a fire burns down the office, all data are secured.

These are just some of the differences between manual and computerized accounting system. With such advantages brought by using accounting software to every business in Singapore, more and more companies are now shifting from manual to computerized. Would you allow your business to be left behind?