Traders who wish to grow and expand their business know the importance of keeping their accounts in order. Bookkeeping is a huge aspect of a healthy accounting department. However, bookkeeping is a time-consuming task that is prone to risks. To begin with, records and ledgers can be stolen or easily destroyed by the elements. Therefore, most smart businessmen opt for digital bookkeeping.
Spreadsheets are often the first choice for people who venture online. It’s free and easy to use. However, there are many reasons why business owners are urged to opt for online accounting software instead of good old dependable spreadsheets. Here are the top 5 reasons:
1. Reduce the scope for manual error
The main reason spreadsheets are simple to use is that they were created to handle simple tasks. Spreadsheets require the user to manually input figures and this creates room for manual error. An online accounting software like ChargeERP on the other hand has in-built triggers that send error messages when users try to input wrong figures.
2. Store historical data
The more data a business collects, the easier it is for it to analyze and predict profit and loss patterns in the long run. This can help business owners make better financial decisions.
Since adding massive amounts of data to spreadsheets makes it less effective, users tend to delete old valuable data. An online accounting software like ChargeERP, on the other hand, can store a massive amount of data on the cloud. Plus an added layer of end-to-end encryption ensures that this data is secure too.
3. Better team collaborations
Working with the whole team on a spreadsheet is fine as long as the team in question is small. Now imagine the case of a trader who has multiple companies with respective business partners and accounting teams. Collaborating on spreadsheets would be difficult for them. Online accounting software like ChargeERP allows users to bring their entire team online for collaboration in real-time. Plus, users can even control the kinds of tasks their team members do with appropriate permissions.
4. Generate bills and reports
Spreadsheets are downloadable, but they don’t necessarily give a summary of the transactions to the user. Plus, the user himself would require a level of accounting expertise to extract the required information from this sheet. ChargeERP allows users to download reports at the click of a button. This way, users can get a quick overview of the profit and loss status of their companies. Plus they can print, download, and even WhatsApp relevant bills and reports to their business partners and customers.
5. Get technical support
No one who accesses free online spreadsheets thinks of calling the associated customer care numbers when they run into issues. On the other hand, accounting software like ChargeERP comes with the promise of ongoing technical support and that too, in regional languages.
These are just a few of the many benefits of adopting an online accounting software instead of spreadsheets. If you want to use the most innovative and user-friendly accounting software on the market, then adopt the ChargeERP online accounting software. Please visit www.chargeerp.com or dial +91 9311341199 and book your free demo today.