What is the purpose of accounting software?

Regardless of the size of the company, accounting software is an indispensable solution. In any sector of activity, having accounting software will facilitate the management and accounting of the company. The declaration of VAT will also be facilitated in passing. The accounting entries will be secured by using this software because the risks of errors will be considerably reduced. Also, accounting software will allow the production of accounting documents and will facilitate the monitoring of the company's expenses. There are many accounting software packages on the market, which will give a business a wide choice depending on their needs and expectations.

What is accounting software?

On the legal side, a company is required to keep accounts. Even without this obligation, having an accounting process within a company is necessary. Management plans will be better established and the company can be easily managed. For the management of the accounts, it is the accountant who takes care of all the tasks involved. For practical reasons, acquiring accounting software has become indispensable. By definition, accounting software is a computer program that automatically performs tasks related to the accounting process of an entity. With accounting software, accounting operations such as invoicing, quoting, tracking expenses, managing accounting documents, inventory management, order management and personnel management can be automated. You can find out more about online accounting software at gest4u.com.

What is it used for?

Accounting software is primarily used to secure the accounting process. Human errors in calculations will be eliminated. The software sends a signal when there are errors in entries. The accountant will no longer have to enter the accounting entries manually. The software will take care of these tasks automatically. All tasks will be automated, just like when you make a report in an accounting book. The risk of errors can then be considerably reduced. Having accounting software at your disposal saves a lot of time. Accessibility to the various departments in the company will also be optimised. The work of the accountant will be simplified because he or she will no longer have to deal with the registrations, which is the most difficult and time-consuming task. Also, the synthesis of the records will be done automatically with the software. You will only have to make simple printouts of accounting documents. The accounting software is a transversal software, which means that all employees of a company can access the software. The employer can, for example, have a real-time overview of the company's operations. He can even access a dashboard to better manage the operations within the company.

Is it mandatory to use accounting software?

In the case of France, since 2016, the finance law obliges all companies to use accounting management software. The main objective of this obligation is to fight against tax fraud. This will prevent companies from committing fraud when declaring taxes. This law only really came into force in 2018. All companies, regardless of size or legal form, were affected by this obligation, except for those that are not subject to VAT. On the other hand, there was concern among microenterprises, self-employed entrepreneurs and small businesses about the use of accounting software. The latter had neither the financial means nor the accountants to use the software, which made it possible to cancel this obligation. On the other hand, all businesses were still obliged to use simple cash register software. The purpose of this cash register software is still to combat tax fraud. However, the production of accounting documents and the keeping of accounts are still compulsory for all businesses.
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