Best Quality Services Singapore

The traditional role of accountants has changed over the years. Back then, large and small business establishments in Singapore would classify an accountant as one of the essential necessities when starting a business. The guidance and support they provide towards everything that has to do with the company’s set-up and launch was perceived as the key element for a business to be successful.

Today, the importance of accountants in Singapore business firms has been questioned as the power of the internet has rapidly grown and developed. The advices given by accountants regarding company structure, formation and legal registration that businessmen would pay for is now freely available on the internet. Moreover, the significant increase of online accounting software has made it easier for small businesses to keep their files secured and in good shape. Here are some more reasons why businesses prefer to use online accounting applications for bookkeeping.

Cost

When the bookkeeping and accounting tasks was out of hand for small business owners, the expensive cost of a professional accountant was seen as the core running expenditure of the business. Therefore using a system like UBS accounting software from Singapore will help in reducing the cost. The structure of an accountant’s service charge differ from fixed fees for definite work, per hour for non-definite work, and some even charge by minute for phone call inquires.

Whatever the accountant’s cost structure is, all of your big and small business accounting affairs will be a significant burden to your business profits. But if you have an accounting software application, all your financial transactions and processes can be handled without the need of hiring an accountant. The software will do all the bookkeeping tasks as low as five dollars a month.

Security

Despite the legal process of you and your accountant signing a confidentiality agreement, the fact that you will be disclosing private information about your business strategy to a 3rd party, there will always be a risk that this information will get into public domain. But if you make use of an accounting software application like UBS accounting software, it will allow you to operate while keeping all your company’s strategic records and information private.

Time Schedule

A single accounting software application can continuously work for 24 hours, whereas an accountant has fixed schedules and requires you to schedule an appointment if you want to work with them, if employing one on an hourly rate. You will rarely find one who you can work with on a 9-5 schedule. This set-up could be very inconvenient and costly, especially if you’re meeting a deadline and working on something that requires an accountants help. Because of this, you will have to pay overtime charges for an accountant to work out of their working hours.

Improved Performance

With UBS accounting software, a lot of business performance will be improved. The hands-on control and management of business owners to their accounts will make them more aware of their financial ins and outs. As a result, owners would better understand their company’s financial performance, and engages collaboration across businesses to improve financial performance.