You may be running a small or medium business. You may have employed 3 to 4 clerks for your business and you have them manually record all your business transactions. You may also have an external accountant to help you with your business’ accounts. You may feel quite comfortable with your business processes and refuse to change as this is how traditional business works.
But comfortable doesn’t bring you far. In this era of technology, many things can be made simple and convenient while maximizing efficiency. No one will doesn’t want to make more money. But to earn more money, you need to bring your company to the next level instead of just staying comfortable.
Nevertheless, to improve doesn’t mean you have to be uncomfortable, it just means you need to be flexible and implement some changes.
The first and most important changes is to subscribe to a cloud accounting software like TreezSoft. A good cloud accounting software will be able to help you cut down costs and effort. You can reduce the amount of clerks to maintain your business daily operation. Besides, a cloud accounting software can also help you cut down or eliminate costs on accountants. Sounds too good to be true? I’ll explain to you why and list down the cost reducing calculation for you too.
How a cloud accounting software help you save money?
First and foremost, an accounting software uses series of automation and integration processes to help you organize and keep your business transaction well so that everything will be at your fingertips. You just need to enter the data once and it will be linked to all related places which reduce the effort in recording your transactions. Invoicing, payment registration and organizing and retrieving of orders can all be done conveniently.
Cloud accounting also keeps your account updated instantly as everything will be handled by the system itself. You can be sure that all your reports will be up-to-date anytime, anywhere. This will greatly smoothen your business operation flow. You can get updated accounts information even if you’re not in the office.
Furthermore, cloud accounting itself helps you store your data online securely. Therefore, you don’t need as many people as before to help you file your documents or maintain your business transaction records. You can spend less on spaces to store your documents.
The invoicing and inventories module in cloud accounting software will also enhance communication between different departments in your business. For example, staff in the store will be able to view your up-to-date orders instantly and prepare them once orders are confirmed. They don’t have to wait for your clerks to bring the orders to them as they can access them from computers. Inventory records will also be automatically updated once it is used in any transaction. This help you maintain accurate and updated stock counts too.
Moreover, SST cloud accounting software (e.g. TreezSoft) will be able to help you organize and retrieve information needed for tax declaration easily. The software should also be able to help you conveniently declare your company or personal income tax. You can retrieve all information needed for your tax declaration with just a few clicks. So why need an accountant to do so for you if you can do it yourself too?
In short, with the help of a cloud accounting software, you can cut down your manpower used for maintaining your business finance and you’re ready to focus more on expanding your business using the extra money.
Here’s how the cost saving plan calculation:
For example, you pay 4 of your clerks an average of RM2000 per month and your accountant RM1,200 per quarter submission.
Without using an accounting software, your monthly expenses on maintaining your business finance is as shown in table one:
Table 1: Summary of calculation with and without accounting software.
If you subscribe to a cloud accounting software like TreezSoft, you will be able to cut down your clerks amount to 1. You can also submit your tax returns or declaration by yourself and so, eliminating the costs of an accountant.
Monthly subscription fees for TreezSoft is RM127.20 (including 6% SST) and you may pay your experienced clerk RM2500.
Your monthly expenses on maintaining your business finance with accounting software is shown as in Table 1.
In conclusion, compared to not using a cloud accounting software, you’ll save RM5,572.80 monthly if you use a cloud accounting software.
You can also visit the links below to read more on related topics in TreezSoft:
TreezSoft is a cloud accounting software for Small and Medium-sized Enterprises (SMEs). It allows you to access your financial information anytime, anywhere. It also allows you to have unlimited users for FREE for your account in TreezSoft. Our aim is to help reduce our clients' time spent on accounting mainly by using our automated processes and integration to help increase their company effeciency at a minimum costs. SMEs can use TreezSoft to keep track their expenses, accounts, daily operation e.g. Point of Sales (namely QPOS) system and etc.
Visit TreezSoft at http://www.treezsoft.com/ to sign up for a 30 days trial account with us!
You can also email us at [email protected] for more enquiries.