No matter what business, accounting plays a significant role in managing your finances. Even in the early stages, it is necessary to have a robust accounting system in place to set the right foundation for your business. The task of accounting is usually performed by an accountant or accounting software. So, a question that arises here is which one is better.

There cannot be any precise answer to whether to hire an accountant or utilize accounting software. The decision purely depends on what fits and works best for your business. If you are a start-up or have a small company, accounting software is more than enough. However, if you have a bigger firm, accountants and accounting software both can add value to your business.  

Accountant Vs Accounting Software – For Small Businesses

Time Consumption

Accounting software allows a business to access all the important information and data in real-time. All the financial data will be synced automatically and stored in one place, in a streamlined manner. This helps the owner to make informed business decisions in a matter of a few seconds. From recording your daily transactions to generating bills and reports, this software can do it all.   

On the other hand, accountants’ work involves a lot of paperwork and research, and hence are more time-taking. They usually work on future goals and help entrepreneurs achieve the same. Hence, small businesses can outsource their accounting to an accountant at a later stage of their business. 

Cost-effectiveness

The cost of buying accounting software is low as compared to the average cost of hiring an accountant. While the cost related to accounting software is fixed, an accountant can charge variable fees for their services. So, obviously, in the initial stages of a business, it does not make sense to hire an accountant. Later on, it would be ideal to have both accounting software as well as accountants in your firm.

There are various budget-friendly online accounting software available in the market today that can produce results better than an accountant. ChargeERP is one of them. It is the easiest online accounting software available in the market today. Commission agents or agri-traders can manage accounts of their customers and sellers with the click of a button. 

Features

Accounting software has just the right features to fulfill your accounting needs. Apart from basic accounting, they have some added features as well. They provide specific templates for bills, receipts, and reports that can further be customized by users. Also, these programs can be accessed remotely so data can be entered anytime, from any device. 

On the other hand, with accountants, no matter how thoroughly you conduct background checks, there’s no guarantee that the one you have hired possesses the right skill set. 

Complexity

When it comes to the level of complicacy, modern-day accounting platforms are so user-friendly that anyone can think of mastering them. You don’t need to have professional training and accounting expertise to use these platforms in the first place. Moreover, the companies providing these software programs also provide technical support to help you through.

No doubt, when some complication crops up in finance, accountants can resolve the matter at hand with their expertise and experience. But, for smaller organizations, accounting software can do the most. These organizations can go for occasional consultations with accountants if required.    

Conclusion

This concludes both accounting software and accountants are relevant in their own ways. However, smaller organizations and start-ups can still operate effectively and efficiently by using just the accounting software. These software programs, by providing a perfect view of business in one place, work out best. Nowadays, online accounting platforms are more popular for they are integrated with cloud-based technology and data security. 

ChargeERP online mandi accounting software is one such example. The software is designed to cater to the accounting needs of agricultural traders and commission agents. Along with their finances, this will also keep a record of their sellers and buyers, items sold and brought. If you are looking to explore more, visit their website www.chargeerp.com and book your free demo or call +919311341199.