Every business
whether big, medium or small needs accounting software to store its business
records –without it, there are some problems that business owners will need to
look into. Although it may be very useful to a
business, dissatisfied users who face technical problems with their accounting
software can also cause them to lose interest towards the accounting service that
they are currently using.
Problems by non-users
Outdated management accounts
A company that does not have accounting software will have
problems in having updated management accounts. It is difficult for business
owners to monitor the health of their businesses. Hence, they won’t be able to
meet their business goals.
Unused business
reports
Businesses that do not have accounting software tend to have
sales forecast and cash flow predictions that are compiled in files gathering
dust. All their efforts will come to waste if the business information is not
regularly used. Businesses need to use this information regularly to compare it
to what is actually happening. (Profit vs. loss)
Lack of information
on profit origin
Having to know that a business is making profit is not
enough. Business owners need to know which of their products or services that
are making or not making any profit. Without accounting software, it is tough
for a business to keep an eye on every cent it spends on.
No information security
Traditional method has lack of security as it is much easier
for anyone to have access to a company’s accounting details. Accounting
software on the other hand will require a login name and password. Furthermore,
companies can assign roles to employees and define exactly where they can go
and what they are allowed to do on the system.
Decision making
challenges
Companies with no accounting software face tough times in
making decision, especially before pursuing new projects. This is because they
do not have enough information on their current finance position.
Uncertainty on
business financial condition
Many business owners are unsure about the financial condition
of their own businesses. As traditional method requires a lot of time to
generate full reports of a business’s performance, it is difficult for business
owners to have a better picture of their own financial situation, which will
lead to tough decision making.
Poor time & cost
management
Companies that do not have accounting software spend too much
time on data entry and the bigger the business it, the more manpower is needed.
Therefore, business owners may need to spend more in recruiting more
accountants, which is pretty expensive compared to the amount of work they can
deliver within a specific time given.
Lack of accuracy
As traditional accounting uses humans to perform tasks,
errors tend to happen. When errors occur, more time and cost will be consumed.
Companies lose money whenever problems like these happen.
Records tracking
problems
Without accounting software, companies cannot have organized
information on their invoices, bank and PayPal transactions, VAT and many more.
Their records tend to be messy and this is when problems will occur. Also, it
is hard for them to track down the lists of their debtors (who owe them money
and who need refund, etc)
No back-up in case of
emergency
With accounting software, companies get to easily back-up
their information with just a few simple clicks. Companies that do not have one
on the other hand will need to keep extra files in case of any missing
documents.
Lack of space for
filing matter
Keeping too much information on multiple files of different business
years make working space rather crowded and less organized. It would be so much
better if all of these information can be stored in just one organized system
that has unlimited storage capacity. Business owners who have small offices and
also fewer employees will find this matter rather annoying.
Lack of work
flexibility
As accounting software requires internet connection, login
name and password, users can always manage their accounts from whichever
location that has an internet connection, as long as they have the access to
use the service –no more staying late in office. Should there are works that
need to be completed quick, accountants will have to stay back to get them
done. (Not convenient especially when Malaysia has too many public holidays)
Work inefficiency
Whenever a vendor or customer calls, business employees will
need to find the necessary documents that will not only take their time, but
their customers’ time. Apart from that, employees also need to waste time on
printing, labeling, stamping and mailing. With accounting software, they can
simply email their documents –that way they get to save time and get paid
faster.
No audit trail
Business owners face problem in
identifying the persons who made changes on records and when they are made (due
to the role of multiple employees). Accounting software offer audit trail, a
lengthy list
chronicling any additions and changes made to the system, and who made them.
This is a critical security feature.
Information are secured in different offices
There are
times when employees had to run back and forth to other offices to get the
information that they need to have. If they had accounting software, they have
all details stored in one system.
Past due updates and tasks
Accountants
at times tend to forget about certain tasks that need to be sorted out by a
certain date, causing them to have past due invoices and payroll taxes, low
inventory and many more. This will cause to unwanted delays. However, accounting
software has the capability to remind them of all their financial matters.
Problems
by current users
Lack
of security
Software users
are worried about the security of their data as they are accessible by foreign
parties. Even though firewalls are believed to have the capability to solve
this problem, but the firewall setup on a computer may get screwy at times;
when this happens, there is nothing much they can do.
Weak reporting service
Some accounting
software solutions are powerless in helping users who wish to get their
business data out. Users are annoyed with the fact that it is easy to put data
in yet impossible to get them out after –seems pointless if they do not support
both ways. As for data transfer, some accounting software products do not allow
data to be retrieved nor imported.
Lack of efficiency
Business owners
want to have things done quicker and less time consuming. Some accounting
software products are not user-friendly and do not enable users to fully use
their keyboard. Using the mouse can slow down a business progress. They are
also lack of features, capabilities, expendabilities and compatibility
Outdated
& lack of accuracy
Some accounting software systems are
outdated. Therefore, details tend to be inaccurate, system slows down and
system errors happen. Data corruption is a serious matter.
Not
user-friendly & difficult to customize
Due to system restrictions, users cannot
perform customization based on their preferences. Some systems are rather
cluttered and difficult to understand. It will be tough for users to get rid of
unnecessary columns and information on their own.
Lack
of features and expensive
Some accounting software offer less
features but at expensive prices. Customers will always have to get the upgrade
versions in order to get the features they want, or switch to another provider.
No
Bank Reconciliation feature
Accounting software such as ‘Wave
Accounting’ for instance does not have bank reconciliation feature, which means
it is unable to perform bank and credit card accounts reconciliation. This
feature is highly essential as it helps businesses to track on errors such as
missing transactions, duplicated transactions, wrong amounts and even typos.
Poor
Customer Relationship Management (CRM)
Users are stressed out by the lack of
training and guidance in using the software, even when it comes to fixing the
problems occurred. Extra training may also cost extra cost to the users. Users
are always in search of high quality training. Some websites also do not
provide their contact number –lack of trust amongst customers.
Software
compatibility
Many users are frustrated because their
accounting software is not compatible with their programs. For example, a
customer may not be able to import some date into his program simply because
the software does not allow this. Users cannot import or retrieve information
from other programs because their accounting software does not have the
capability to do so.
No
24/7 technical support
Customers had to wait until the next
business day before they get to fix their accounting software problems. Most
consultants are only available during business hours; unless they provide customers
with a cell phone number which they can contact for after-hours contact.
Inconvenient
technical supports via phone
The best support is always through a
face-to-face session rather than just phone calls –that way, customers can get
a better picture of what is happening and what to do if the problem occurs once
again in the future. The ability for a support specialist to access customers’
data and remote in to their problems is much more effective and less stressful
than simply trying to explain the solution via phone calls.
Poor
speed of access
Since accounting software is accessed
over the Internet, delays are likely to happen due to the distance to the data
centre (location problem). Speed issue can also be determined by the speed of
processors and servers used to run the online accounting software.
Companies having the above issues should
look for proven accounting software in the market, QnE
Software is one of the proven accounting
software in Asia. Please visit www.qne.com.my for more information.
