What is billing software?
Legally, all companies have an obligation to keep accounts. Moreover, beyond this obligation, it is essential to set up an accounting process. This makes it possible to better manage the business and establish management plans. That is why it is necessary to hire an accountant for the management of the accounts. In order to help him in this task and for other practical reasons, it has become essential to acquire accounting software.
POS system with inventory management is a computer program that automates a company’s inventory process. Many accounting operations can be automated using accounting software, such as:
Establishment of quotes;
Monitoring of expenses;
Management of accounting documents;
The use of the software allows, among other things, to secure the accounting process. Indeed, the entries of accounting entries in the software are done automatically and when there are writing errors, they are reported. Postings in the accounting books are also done automatically, thus reducing the risk of error.
The use of the software also saves time and remains accessible to the various departments of the company. This saves the public accountant from having to make all the records. In addition, the recordings are synthesized automatically by the tool. At the end of the financial year, it will only be a question of printing the accounting documents.
In addition, it is a transversal tool, that is to say it can be accessible to everyone in the company. Consequently, the manager can thus have a real-time overview of the operation of the company and have access, in some cases, to a dashboard to manage operations.
Is accounting software mandatory?
The finance law for 2016 established the obligation to use accounting software. The aim of this decision was to fight against fraud when declaring VAT. This measure was to come into force from January 2018. It affected all businesses, regardless of legal form or size, as long as they were subject to VAT.
However, several concerns had been raised about the use of accounting software for all businesses, especially for very small businesses, self-employed and micro-businesses. These concerns were ultimately addressed, leading to the waiver of this obligation. The obligation has been reduced to the use of simple cash register software, again with the aim of combating fraud when filing VAT.
However, it should be noted that all companies still have an obligation to keep accounts and produce accounting documents.
Accounting software: for which companies?
When you decide to run your own accounting in-house, you should choose the right accounting software. This choice must take into account a number of elements so that the software is in line with your needs.
The importance of targeting business needs
The accounting function of a business is crucial. The choice of software should meet the needs of each type of business. So you have to ask yourself the right questions, such as:
- What is the size and industry of the company?
- Should you choose standard software or custom software?
- What’s the budget?
- Is there an accountant in the company?
- Should the software be able to declare VAT?
- How many people should have access to the software?
In addition to the accounting aspects that the software should be able to manage, you may need it to be used to manage other parts of the business as well, such as human resources, monitoring business growth, business and asset management. There is indeed software that offers dedicated integrated features, for example to:
- The management of payroll and social charges;
- Management of IT parks and equipment;
- The calculation of depreciation and endowments;
- The configuration of a dashboard for monitoring the activities of the company
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