With the advancement of technology, you can now do things with just your computer in front of you. One of them is accounting. Before, you needed a calculator and lots of papers just to get the job done. Today, you can just use accounting software. The process is really easy. You just have to encode all the numbers on the computer and the software will do the rest for you. Easy, isn’t it? It might seem like the best choice, but the truth is you should stick with the more traditional method.

Failure to back up

Accounting software is good only while there is strong internet connection and power. Once they are gone, you will risk losing all the items you have already encoded. If it can’t back those files up, then you are in a really bad position. You would have to do things over again and it could take a lot of time.

Potential threats

Since everything is done online, you also run the risk of being targeted by a virus, spyware and malware. Take note that your confidential business information is at risk. You can’t expose it to the public. You also don’t want to let people know how much you owe or how much you have. Most of all, you don’t want them to steal your identity and pretend that you are the one doing future transactions. This can cost a lot of money.

Not error free

As in any other computer application, accounting software is not error free. Just because it is advanced, you think that it can do everything right. The truth is that it can also make mistakes. Once it happens, you will be penalised by the government’s tax bureau. You can’t take it back anymore and you will be responsible as it was your personal choice to use the software.

An accounting firm is better

Ultimately, it is in your best interest to hire an accounting firm to do the job. They are staffed with well-trained accountants who can do the job without question. They are also detail-oriented. You can count on them to give you a final document that is error free. Besides, you can always go after the firm if they don’t give you the correct document that you have asked for.

There are a lot of accountants central London offers, many working for firms. You can call the firm and ask them about their services and their fees. It is not like downloading accounting software that won’t cost you anything. You have to weigh the options in front of you now and make the best decision for your business.

Image via freedigitalphotos.net (Stuart Miles)