Online Vs Desktop Accounting
No matter what type of business you own, you have to have a way to keep track of your expenses, sales, and equipment. While it is possible to do so on a paper, using a computer is easier, faster, and reduces the chance of mistakes. Once you make the move to computer accounting, you need to decide whether to use a simple program that is on your computer or to use one that is online. To help you decide, here is some information about them
Online programs allow you to access your accounting information anywhere you can get online. You can use a phone, tablet, or computer to log in and take care of the financial aspect of your business. This is ideal if you run a service-based business as you can log in to create a bill or invoice for a customer on the spot that will not need to be input into the system later. You can also add expenses as you go, for example adding in a gas receipt before leaving the gas station.
When your financials are online, you can allow other people access without having to worry about them trying to work over what you are doing. Multiple people can access the information at the same time and it will all be added. While you are adding your gas expense someone else can be adding in a sale. In addition, your tax accountant can be given access so you don't have to make a copy for him or her when it comes time for taxes.
Finally, you may be able to integrate third-party programs into your financials. This may include your banking accounts, or point-of-sale programs. If you use a device to accept credit or debit cards while in the field, all transactions can go directly to the correct account.
Some desktop programs offer more specified accounting than online programs. You may be able to find a program that is tailored to your business instead of having to fit your business into something generic. How you handle your inventory may create other problems with online accounting. When you have a desktop program, you can use multiple methods to take care of things, this can be handy if you use different methods for different types of products or supplies.
Another advantage to desktop versions is that you can do batch invoicing. If you have some customers who get the same thing all the time, even multiple customers with the same order, you can produce all the invoices at once.
If you have a business where all your customers come to you, and you treat your inventory different, it would be best to go with a desktop accounting program. If you do a lot of online or on-the-road business, consider going with online accounting. Contact a company, like Blueback Accounting, for more help.