Accounting Software is the Backbond of Small Business

Accounting Software is the Backbond of Small Business

Myob Accounting software   has become a household brand in Singapore and in many countries and known for it’s super easy to use accounting software functions. It has the ability to easily create chart of account, imputing daily transaction and real time viewing of accounting reports.

Once upon a time, maybe as back as the Indus Valley Civilization, people discovered that if they have excess quantities of one item, they can exchange it with excess quantities of another item with some other person. This exchange came to be known as business and the medium of exchange quickly came to be known as money. Yes, there existed a time when business was as simple as one man buying multiple quantities of a product and displaying it for sale in the ‘Bazaar’. Willing customers would walk upto to his shop. If they saw the item they liked, they would buy it. The business man would then close his shop at the end of the day, count his income and go home a happy and content man.

The 21st century business has come a long long way from that. Today we plan, we strategize, we do market and customer survey, then we invite investments – we take loans from banks, we do cross geography purchase and sales, we have post sale services, we have supply chain management, we have business risk assessment, we have accounts that need to be audited, we have forms that need to be filled, we have orders that need to be serviced on time. And then there are tens and hundreds and thousands of vouchers that need to recorded and approved and retained and MISs to be generated and stock to be managed and employees who have to recruited and managed and paid at the end of every month and taxes that have to calculated and paid before their respective due dates. Accounting and Inventory software can be as simple as a book keeping tool or as complicated as a multiple place of work supporting – real time processing – Enterprise Resource Planning tool. The type of Accounting and Inventory software that a business uses depends on its size and industry and geography of functions but what remains constant is that for a business to survive, this accounting and inventory software is inevitable. It is the backbone that keeps the business standing. It is one item which is no longer a luxury.

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