How a Small Business Owner Benefit from Cost-Effective Accounting Software  

It seems that the traditional role of an accountant is changing thanks to the advent in technology that made business functions more streamlined and cost-effective. Before that, a small enterprise has to rely on the services provided by an accountant as they are one of the fundamental requirements when starting a business. The support and guidance offered by accountants toward all matters connected with the set up and launch of a business was perceived as essential in order for a small business to be ultimately successful.

Why Use Online Accounting Software

The perceived importance of the role of accountants play with small enterprise has been increasingly bought into question as the web-based technologies has developed and got popular across the globe. The advice that accountants used to charge for regarding company information, company structure and VAT registration is now largely available for free online. Furthermore, the rise in web-based and affordable accounting software in Oman has made it easier than ever for a small business to keep their company books in good shape. We wanted to explore why more and more small enterprises are choosing to use accounting software and how this trend impacted the traditional role of the accountant. Here are the reasons why small businesses started embracing online accounting software these days.

Security and Confidentiality – In early days, when you hire an accountant, you have to sign confidentiality agreements with your accountant as you are disclosing company information that includes your business strategy and business operations to a third party. Whilst there can be advantages to this is the form of gaining second opinion on the performance of your company but there is also a risk that your private information may get into public domain. When you adopt web-based accounting software, it allows you to keep all of your business information inside your company.

Cost Savings– Small business owners had to bear high expenses when their accounting and bookkeeping tasks were handled by professional accountants. The pay structures of accountants differ widely per hour, fixed rates for specified tasks and some of them even charge by the minute for phone calls. When it comes to your small business enterprise, hiring an accountant that charge high fees for every business task will be a significant burden to your company and it may affects your profits. So, to avoid these problems, you can go for accounting software that is customized to your needs and specifications.

Ease of Use – These days, most software developers build software for accounting tasks that is highly user-friendly, tailor-made, and users need not to possess any accounting knowledge to use it. This advantage allows you to easily control your business and financial activities.

No Time Limits – A professional accountant has their own set schedules and opening times. Whereas an online accounting software can function 24 hours a day and you can access its services anytime and anywhere. As you are running small business enterprise with a nine-to-five office timing, you must be frustrated with the inflexible working hours of the accountant. When there is a deadline, you have to charge overtime for your accountant as they are working out of hours.

Accountability – When you take control of financial tasks of your company there becomes greater accountability to deliver. Software for accounting tasks allow small business owners to be much closer to the financial activities than when they are transferred to third party service providers.

Ask for Customizable Options

There are many accounting software in Oman that are suitable for Middle Eastern businesses irrespective of their size. As every business has their own accounting needs and requirements, most software developing companies provide customizable options to their clients so that it will fulfill their accounting and budget demands.