Accounting with human or software?

Discussion in 'Accounting and Taxes' started by fredrick.molby, Jun 28, 2012.

  1. James123

    James123
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    I would like to say both Bookkeeper and Accounting software is mandatory. Bookkeeper should use following Softwares
    MYOB,
    Quickbooks,
    Xero and
    Cash Flow Manager etc.
     
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  2. Mike Wilford

    Mike Wilford
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    I think accounting software for small sole traders but if you are looking into company formation, then really, it pays to use a (good) accountant.
     
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  3. austiinsmiith

    austiinsmiith
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    Have you considered outsourcing the accounting activities for your business? Instead of hiring expensive accountant you could easily get virtual assistant who are well experienced and well equipped and can handle your accounting and other activities at a very affordable cost.
     
    #23 austiinsmiith, Aug 18, 2016
    Last edited by a moderator: Aug 18, 2016
  4. Rockforce

    Rockforce
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    I use ProBooks for invoicing and estimating on the go, it's available on iOS, Android, and the web.
     
  5. backlinkfy

    backlinkfy
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    Software solutions can help you streamline your task according. Tools like BillQuick that offers time tracking, billing/invoicing and even project Management can help with your accounting.
     
  6. stacey howard

    stacey howard
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    In my opinion, its depends on you if you have enough knowledge about accounting and finance then you can use different accounting software like Quick books, Net Suite, Quicken etc but it requires time and dedication if you want accuracy. Otherwise, you can hire accountant which would cost you more in comparison of outsourcing. So the best option is to outsource or do it your own if you want to save time and money.
     
  7. kaufenpreis

    kaufenpreis
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    Besides, accounting software doesn't have the capacity to initiate an adjustment on your accounting, which is most of the time, needed particularly on those moving accounts.
     
  8. Mike Wilford

    Mike Wilford
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    Initially when starting out in business accounting software will be suitable. As the business grows I would hire an accountnat so that you can focus on your growing business rather than spending too much time stuck in books!
     
  9. florenceclarke

    florenceclarke
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    Hello everyone,

    I considered all answers, in my opinion, accountant and accounting software both are important. Accountant advises you to what need to show so taxes will be minimized. On the other hand, accounting software is for speed up the process of accounting. It helps the accountant so the finance and bookkeeping work process can be streamlined.

    Yes, I totally agreed with Denise that Quickbooks is the best one accounting software. There are others also such as sage, NETSUITE, XERO etc.
     
  10. Jamel11234

    Jamel11234
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    I agree..both are needed. Technology is changing the way that accounting professionals engage their employers or clients, but nothing will ever substitute for a human being in accounting.

    The newest software on the market like XERO and QB Online does really good with automating certain activities such as posting new transactions to the general ledger. But a human still has to make sure that posts are classified correctly. You can't just put it on auto pilot and expect that the books are going to be accurate when you need to dive in to the numbers or do you taxes at the end of the year. Who is going to go over the trial balance at the end of the month to make sure everything is correct? Who is going to reconcile the bank account with the ledger to make sure that they are in balance?

    Accountants, not software, are able to sit with a business owner and interpret what their financial reports means for the business and it's future. Software can't do that. A business owner can print financial reports on his own, but will he be able to get the kind of insight that he needs by just looking at the numbers? But an accountant will be able to tell him exactly what every category on that report means and how they impact the business.

    Let's just say that software makes the accountant/bookkeeper's job easier. But accountants.bookkeepers will always be needed.

    That being said, XERO and QB Online are my favorites. Both automates transactions entry with automatic feeds from the bank account, both are easy to use, and both have very good financial reporting features. I would give the nod to QB online for support. With XERO you have to leave a message and hope that they get back to you within a day, but with QB online you will get your questions answered instantly whenever you need help since they have a live chat feature.

    Jamel Salter
    Bookkeeping Plus LLC
     
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    #30 Jamel11234, Feb 21, 2017
    Last edited: Feb 21, 2017
  11. kaufenpreis

    kaufenpreis
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    You see accounting software can make your job a lot easier, but you still need a real person to see if your system is providing you accurate financial data.
     
  12. mizzo453

    mizzo453
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    I use the software. If you have no experience knowledge with taxes I say go human for a year or two ask questions relative to your tax situation. Your tax situation is pretty constant from year to year. Once you feel you know your tax issues use the software. The software is cheaper in most cases. If you itemize, you can play with the deductions to see your refund or payment owed.
     
  13. Julia Sta Romana

    Julia Sta Romana
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    It's best to go with both. An accounting software can help you record transactions and do most of the bookkeeping. Having an accountant on call would help you make sense of everything, especially on tax season =)
     
  14. TasneemOkla

    TasneemOkla
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    Human and Software both are required for an efficient work and successful result. I use Bitrix24 CRM for project management. You can also use software for accounting and human to run them.
     
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  15. robert4u

    robert4u
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    Well I personally think you cannot do accounting yourself, it is always better to use software. So yes human + software that is everyone work I guess.
     

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