Impact of Accounting Software in MSME Business

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Impact of Accounting Software in MSME Business
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What is Accounting software?

• Accounting Software is a computer program that
  maintains all financial records of business and
  generates required reports like cashflow, profit
  loss, etc. 
• Accounting software automates your task and
  increases overall business productivity. 

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Types of Accounting Software

• Accounting software investment depends on the
  types of business requirements. It becomes very
  critical to decide which software package will be
  the right choice for investment. Therefore, it is
  important to understand different types of
  accounting software and under what circumstances
  each one should be used
• Spreadsheets
• Spreadsheets are used by organizations with very
  low transactions and incurs more errors

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Types of Accounting Software

• Commercial off-the-self software
• This type of accounting software is used
  predominantly all over the world. It provides
  various solutions like billing, accounting and
  inventory management without any error. It is
  perfect for MSME businesses to automate the
  business operations and increase overall
  efficiency.
• Enterprise Resource planning
• ERP software is mainly for big businesses. It
  integrates various departments into a single
  database. The price is very expensive and it fits
  mostly businesses with complex operation

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7 Amazing Benefits

• Manage bulk transactional data
• Accounting software helps in updating huge
  transactions with less time which therefore
  increases the work efficiency
• Make your employees more productive
• Investing in Accounting Software will lower the
  workload of manually handling the accounts and
  encourage employees to focus on more accounting
  activities in no time

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• Access data from anywhere
•  Cloud based Accounting software helps in remote
  access of real time data from any location
• Centralized Management 
•  Manage all financial tasks like inventory,
  invoicing and generate financial reports using a
  single software
• Tax management
• Adaptation of Accounting Software helps to
  analysis total tax paid for each invoice and
  generate GST reports with one click 

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• Cost saving
• Investing in financial application will be more
  cost effective then employing
• multiple people for financial management
• Offers various reports to understand the business
  better
• Reliable Accounting software offers opportunity
  to examine various reports to track credits,
  profits, losses, demand, and expenses 

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Right time for Adopting Accounting software ?

• Unable to generate invoices on time
• Manually recording huge sales transactions
• On time inventory management issue
• Not understanding cash flow on daily basis
• Too much manual and time taking process
• Difficult to understand monthly and yearly
  business growth
• Difficult to generate GST reports 

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Conclusion 

• In today's modern business world technology is
  accelerating every workflow no matter its a MSME
  or big enterprise. Numerous functions are being
  automated by adopting Accounting software. 
• At the end of this presentation we have learned
  various reasons in details about importance of
  accounting software and therefore we can
  conclude Accounting software not only automates
  the financial activity of any business but also
  empowers overall business growth.
•  There are various accounting software in the
  market according to your budget. Vyapar
  Accounting software for small business is one of
  the top rated accounting software solutions
  trusted by 5M user base

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