Balancing your company’s books can be a monumental challenge, especially if you’re handing multiple accounts or large amounts of data. However, installing a computerized accounting system that can keep track of all your data can be a big help when it comes to organizing your company’s accounts. Many businesses nowadays rely on these kinds of systems to help stay on top of all their financial transactions. Even companies that have been using traditional accounting means are now making the switch to the digital trend of computerized accounting.
Every growing business needs to understand that manually keeping track of your accounting and financial data will only set your company up for failure. By integrating computerized accounting software into your current business processes, you’ll be able to manage and automate all of your company’s accounting transactions with pinpoint accuracy and efficiency. Transitioning into a more modern, digital accounting method is a smart way to stay competitive and help grow your business smoothly.
There are many advantages with upgrading your current traditional processes with accounting software:
Using a computerized system to track all of your daily numbers can ease the burden of running any type of business. By allowing you to have a wide yet detailed perspective of everything from sales data to customer metrics, your company can keep better track of its performance and plan its strategies more efficiently. Existing accounting systems, whether manual or digital, can be easily integrated with a POS system to allow data to be constantly updated and to avoid any redundancies during the accounting process. Human error incidents like double-entries can be minimized if you have an integrated POS system that can keep tabs of information and ensure that all modules are in sync with one another.
Implementing a computerized accounting system can also help with the generation of accounting records that need to be submitted to the BIR (Bureau of Internal Revenue). However, the BIR has some documentary requirements that companies need to fulfill if they plan on using a computerized accounting system to handle their accounting books.
The most important documents in fulfilling these requirements is accomplishing BIR Form 1900, which is the Application for Authority to Adopt Computerized Accounting System (CAS) and/or Components Thereof/Loose-leaf Books of Accounts, 2002 Enhanced version. And depending on whether or not you will be implementing a POS System with your CAS, you’ll also need to submit BIR Form 1907, which covers Application for Permit to Use Cash Register/Point of Sale Machine, 2002 Enhanced Version.
Below is a complete list of other documentation required by the BIR:
It’s also important to note that the fulfillment of these requirements is mandatory before the system is implemented and can be fully adopted by the company.
We have years of experience when it comes to modernizing traditional accounting systems. We’ve worked with numerous businesses to update their existing systems and integrate it with the latest accounting software that’s tailored to their specific processes. We also include full documentation to help your personnel easily manage your new system even after it’s been implemented. For more information regarding our accounting software integration services, leave us an inquiry on our Contact Us page.
"*" indicates required fields