A software management system is needed in the workplace because of the many issues observed in the case of manual accounting. For instance, compliance to strict financial laws is observed in current times. Companies are audited regularly by their respective country legal measures. Failure to comply often results in a hefty fine, and other reputation losses. Compliance issues in traditional accounting systems pairs with insufficient training exposure of accounting employees to create issues in accounts management. Many companies have chosen to implement accounting software for compliance accuracy as observed in research articles. Highly efficient accounting management systems have helped in assessing and managing the accounting issues in traditional system (Kaye, 2014).
Secondly, businesses need accounting software because they find it easier to manage financial situations with accounting software. Organization is easier, and data input and management is much faster compared to many working. The number of resources required to manage tasks is reduced as well making the accounting team structure a leaner and skilled one. While some negativity are raised in terms of people going out of a job because of software, the fact is that skilled accountants are still needed in the workplace despite the introduction of software (Cooper & Robson, 2006). With the use of accounting software’s, better integration is achieved across other departments of the company and independent taxation and audit companies also are able to assimilate data in a better way when they used accounting software.
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