Cloud accounting is the greatest thing that had happened in the accounting industry in recent years. Cloud accounting software are helping to simplify the work process, improve the work quality and also speed up the collaboration with clients. Here in this PPT, we have shared important aspects that will help you to understand why accountant prefer accounting software to manage daily accounting tasks.

1. WHY MOST ACCOUNTANTS
PREFER USING
ACCOUNTING SOFTWARE?

2. Accounting software programs have
been around for decades! However,
moving accounting to the cloud is a
recent trend that helps businesses to
manage their bookkeeping, payroll,
statutory accounts, and annual tax
returns seamlessly.

3. What do accountants value most in
accounting software?
Automation
Reporting &
Management
Tax
Management
Payroll
Processing
Billing &
Invoicing

4. AUTOMATION
Accounting automation
reduces human errors, internal
frauds and saves time.
Automation helps to simplify
the entire processes right from
simple accounting transactions
to complex financial activities.

5. More so, automation in accounting
increases the possibility of real-time
reporting, which means accounting
division as well as management can
understand the potential problems and
resolve them in no time.

6. FOR EXAMPLE:
1 . I n t u i t Q u i c k B o o k s h a s a n e x c e l l e n t
i n v o i c e a u t o m a t i o n t o o l t h a t a l l o w s y o u
t o c r e a t e a t e m p l a t e a n d g e n e r a t e
i n v o i c e s a c c o r d i n g t o a p r e s e t s c h e d u l e .
2 . O r a c l e N e t S u i t e a u t o m a t i c a l l y i m p o r t s
c u s t o m e r d a t a f r o m C R M t o A / R .

7. REPORTING &
MANAGEMENT
Accounting software
provides accurate
financial and corporate
data, which help
accountants to make
information-driven
decisions.

8. T h e y o f f e r m a n y c a t e g o r i e s a n d
r e p o r t i n g o p t i o n s t o g e n e r a t e
c u s t o m r e p o r t s u s e f u l f o r b u s i n e s s
l i k e i n c o m e s t a t e m e n t , b a l a n c e
s h e e t , c a s h f l o w s t a t e m e n t , A P ,
A R , p a y r o l l s u m m a r y e t c .

9. TAX MANAGEMENT
Accounting software has
the ability to manage all
compliance needs as it
automates the
calculations on tax for
multiple sales and
payments as well as on
withholdings for employee
payroll.

10. M o r e s o , s o f t w a r e c a n p r o v i d e y o u
w i t h t h e d a t a b a s e o f t h e m o s t
c o m m o n t a x f o r m s l i k e 1 0 9 9 a n d
1 0 9 6 , a n d a d d a l l t h e n e c e s s a r y
e n t r i e s f o r y o u a u t o m a t i c a l l y .
A f t e r t h a t , y o u c a n f i l e t h e f o r m s
e l e c t r o n i c a l l y w i t h t h e I R S .

11. For Example:
QuickBooks 2019 Master
Class can create
income/expense
reports and track loans,
credit cards, sales tax,
and a lot more.

12. PAYROLL PROCESSING
Accounting software help
to manage payroll and
keep track of the balance
sheet efficiently. You can
process employee
salaries, deduct taxes
automatically, and a lot
more.

13. S m a l l B u s i n e s s T a x a t i o n S u r v e y
f o u n d t h a t 1 i n 3 s m a l l
b u s i n e s s e s s p e n d s m o r e t h a n 8 0
h o u r s o r 2 f u l l w e e k s o f w o r k
e v e r y y e a r o n f e d e r a l t a x e s a n d
p a y r o l l .

14. BILLING AND INVOICING
It is crucial for any business
to manage their billing
and invoicing properly as it
adversely impacts every
business.

15. M a n y a c c o u n t i n g a p p l i c a t i o n s i n
t h e m a r k e t h e l p y o u t o
a u t o m a t e t h e p a y m e n t
p r o c e s s , e n a b l i n g y o u t o p a y
a n d g e t p a i d q u i c k l y .
L i k e : F r e s h B o o k s , Q u i c k B o o k s ,
S a g e I n t a c c t , B i l l . c o m e t c .

16. SOME INTERESTING STATICS ABOUT
ACCOUNTING SOFTWARE
Accountants prefer cloud accounting!
67%

17. Large-scale companies use cloud
computing.
As per a research, cloud accounting software
helps to simplify the process and speed up the
collaboration with clients, thus improving the
quality of services.

19. UK businesses are at risk as they are
not able to handle paperwork
accurately.
As technologies are evolving every day, opting
for ideal accounting software can be a viable
decision.

20. Businesses admit that late payments
are one the biggest problem in UK
companies.
1 OUT OF 12
respondents said that they do not
know how to resolve late payment
issues.

21. If you also don’t know how to deal with
such problems, then it is essential to make
use of accounting software to streamline
your process.
And if you don’t know how to use
accounting software, Do Not Worry!
Cogneesol are here to assist andWe at
help you reach your business goals by
providing you world-class accounting
services.

22. Cogneesol have a vast team of
accounting professionals, who can
perform all types of
bookkeeping and financial tasks
using the accounting software
of your choice.

23. REFERENCES
https://financesonline.com/accountants-value-accounting-
software/
https://www.arbitrue.com/blog/18-cloud-accounting-
statistics-to-know-in-2018/
https://www.accountsandlegal.co.uk/small-business-
advice/best-cloud-accounting-software-for-small-business-
in-2018
https://www.business.com/articles/features-of-
accounting-software/

24. WAYS TO REACH US
Let's talk!
PHONE
+1 646 688 2821
EMAIL
info@cogneesol.com
ADDRESS
30 Wall Street,8th Floor
New York,NY 10005-2205
www.cogneesol.com