What is Online Accounting Software?
Online accounting software is a set of cloud-based systems designed to support various accounting activities in the business world, from managing purchase and sales transactions to the process of recording and managing financial transaction data through invoicing, bookkeeping, and preparing financial reports to assist companies in making decisions.
Xero is a solution for companies in financial management that has various modules that support in one software.
Benefit of Using Online Accounting Software
Applying online accounting software to businesses can reduce costs associated with printing and distributing documents, because all data is stored digitally.
Easy to Access
By using online accounting software, you can access your accounting data anytime and anywhere if there is an internet network.
Reliable Reports and Analysis
Online accounting software provides features to generate detailed and clear financial reports and more in-depth data analysis, so that it can help in making strategic decisions.
With online accounting software, you can collaborate with others easily wherever you are. Even though it is done simultaneously, the resulting accounting data will be displayed in real-time.
Financial Data Security
Financial data is one of the company's confidential information and must be well guarded. The existence of online accounting software can ensure that all company financial data remains safe.
Online Software vs On-Premise Software
Delivery Performed through Internet
Must be through Certain Hardware
Real Time Update
Unreal Time Update
Maintenance and Security
Managed by Software, Including Cloud Services
Managed by the User/Company
Any Device, Uses a Web Browser
Pre-installed Device with Program
As companies continually growing in number of transactions, adding new business processes and complexity, the use of these technologies other than reducing response time for business intelligence and analytics is for timely and valuable management reporting. These technologies have been the core engine to stay leading in competition. Logiframe provides Financial Consulting Services works side-by-side with Technology Implementation and Enhancement Services.
Tips to Choose the Right Software for Your Business
The main thing that must be considered in choosing software is guaranteed data security so that financial report data can be stored safely.
Online or Offline Based
Currently, there are several accounting software products available on the market, some are online-based and some are offline. Offline-based accounting software has several limitations, for example, it cannot monitor financial reports regularly. However, online-based accounting software can be accessed from anywhere and anytime.
Data Back-Up System
Choose accounting software that provides data export and import facilities in the form of Excel. Besides making it easier to read data, this will also save company data if there is a bug situation in the online accounting software.
Completeness of Features Offered
In choosing software, one of the things that must be considered is the completeness of features that can be utilized by various ranks based on their respective needs.
Support Services Provided
Support services are also important in selecting software. The existence of support services will greatly help you if you experience problems in using the software.
Easy to Use
If you don't have a background in accounting, it's better to choose software that is easy to use so you don't spend a long time understanding the features in the software.
If you use several software in carrying out other business activities, choosing software that has integration capabilities is something that must be considered.
Before deciding to use an accounting software, check first whether there are hidden additional costs associated with the accounting software in the future.
Accounting Software Implementation
Data Migration and Integration
Training and Support