Accounting Software Services in Dubai, UAE
Technology has revolutionized the world of business. SMEs as well as large organizations in Dubai, UAE have permeated technology in their business processes. When it comes to the accounting section, accounting software is used to perform various financial functions like recording, analyzing and storing business transactions. Accounting Software stands as a clear surrogate for blue-collar management of financial records.
How can Accounting Software help your business grow?
Accounting software is a class of computer programs that enable you to manage your business's financial transactions. By using accounting software, companies are able to use the resources in their accounting departments professionally and can trim down expensive bookkeeping mistakes.
a) Cost Saving
A business owner can use the accounting software without outsourcing the work to an external expert for simple transactions and save the expense. It also helps you save money as it is a one-time purchase.
b) Easy to Handle
A beginner or a new employee with little training can use accounting software effectively in his own computer or mobile device
c) Enhances Productivity
An accounting software works more rapidly and smarter on transactional and computational tasks than a human being. One can get error-free and more accurate transactions on accounting software compared to manual work
d) Secure and Safe
Accounting software can secure the most valuable information of the company. By using this software one can decide who must have the access to sensitive data of one’s business. The software provides manifold security features such as Barcode Integration, Production Management, Banking Integration etc.
e) Quickly build realistic profit budgets to predict the future
Accounting software helps small business owners to continually assign transactions relating to income and costs to appropriate accounts. This in sequence helps the small business owner to recognize trends in income and separate the fixed and variable costs of their business for examination.
f) Allocate resources and manage cash shortfalls
Accounting software can produce reports and analyze revenue and expenses with ease. This allows the small business owner to extract the information needed to create a cash flow forecast that can predict the closing cash balance. This in term allows the small business owner to use their thinking ability to grow the business.
g) Better financial management attracts resources
Accounting software helps a small business owner administer his finances much better with instant access to financial reports and the easy preparation of future profit and cash flow budgets. This stimulates confidence in the business and its management by resource owners like banks, investors and suppliers.
h) Accounting software will keep all the records up-to-date in one place.
Features Available in an Accounting Software
Accounting software relieves the business process as it includes the following features:
Budget estimation and forecasting
Fixed assets management
Billing and invoice
Different Types of Accounting Software
On the basis of their operations, different accounting software has been built, which are discussed below:
1. Time & Expense Software
The main object behind this software is to help collect payments faster and detect sluggish and incompetent practices that were not perceptible before. It also gives detailed geographical reports on how the available resources and time are being used in the company.
2. Billing & Invoicing Software
This software helps a company to perform its day-to-day tasks, like writing checks and reminders for customers on their due payments. Billing and invoice systems hold control over the accuracy of accounting figures and make service look more credible and professional to the end recipient.
3. Payroll Management Software
Payroll management software allows one to have control over accounts payable and accounts receivable. The tools were developed to calculate employees’ salaries, depositing the salary directly into employee’s bank accounts, cutting deductions, and preparing tax forms & payslips.
4. Enterprise Resource Planning Software
This is the most accepted accounting software category. It includes systems helping product planning, material purchasing, inventory management and control, HR, accounting, marketing, distribution, and finance. This software also offers modules for business intelligence and CRM.
How to choose the right accounting software for the business in UAE
Some tips are discussed below to help one find the software that will best suit the needs of one’s enterprise:
Keep your financial plan in mind
Deem both your needs and your accounting skills
Look at cloud applications
Take the decision with the help of your accountant
Give attention to add-on features
The Role of CDA in Accounting Software Consultancy Services
CDA, as software consultants, perform organized study of our client’s requirements and advocate the suitable accounting software pertaining to the client’s needs. We help out and accomplish the implementation of better accounting software in the UAE and to computerize the process. Moreover, CDA offers a wide range of services like Due Diligence, Accounting, Auditing, Tax Consultancy, VAT Consultancy, etc.
For more information, do contact us. We are happy to help out. Our Experts will offer one-hour free consultation.