How to Choose Accounting Software For Small Business
Before we begin, let me just say that small businesses may or may not need accounting software. Depending on the goals of the company, it must be determined if software, excel, or pencil and paper will accomplish the accounting needs. ubs accounting system malaysia Accounting software for small to mid-size companies generally consists of entering in accounting information to a database. From that database, the software pulls the relevant numbers and automatically performs the correct single or double-entry calculations. Double-entry accounting uses several different accounts or categories to gain an understanding of the financial condition. The account types used are: asset, liability, equity, revenue, and expense. It is referred to as double-entry because every transaction is entered twice, once as a credit and once as a debit. This type of software would require background knowledge of accounting principles. So if a controller or bookkeeper is not on the payroll, it would be more app...