With the advent of VAT in the UAE, accounting software for businesses in the emirates has made a remarkable change. An efficient accounting software is essential to manage the accounts and tax policies of a company properly. Therefore, it becomes quite crucial to know how to choose the best accounting software that is suitable for your business.
Now, there are a whole lot of accounts software packages available online that you can choose from. So, if you are wondering what the factors that you need to consider while choosing software for the accounting of your company are, here is a guide for you.
To help you choose the appropriate accounting options for your business, you must make sure that the software ticks into all these boxes.
- VAT Compatibility
Since UAE is now a VAT using country, you must make sure that you choose a VAT accounting software UAE. You must see to whether the software is compatible with cash and invoice accounting with VAT and can cope with all VAT schemes in the UAE. UAE accounting experts also tell you to check whether the software can produce a VAT return automatically or not.
- Banking Feature
Whatever be the scale of your business, you must choose a software that offers bank module as a feature. Make sure the accounting software can be linked with a bank account so all the banking transactions can be synced in automatically so that you can easily take the bank figures into consideration while preparing the statements for your company.
- Stock Handling
If you have a business that deals with tangible goods, then an accounting software that can handle stock is extremely important for your company. Many accounting modules lack this essential, and therefore you must double-check before investing in one.
- Payroll Compatible Module
Most UAE accounting modules are not equipped to accommodate payroll feature. So before you buy and install a one, make sure that the payroll facility is included in your package.
- Multiple Users
If you have a small business and you are handling the accounts of your company by yourself, then it will be appropriate to use software that is single user-friendly. However, if you are working with a team where accountants take care of the accounting department of your company, then make sure you choose a software that allows multiple users to use it at the same time.
- Personal Tax Accounts
Out of all the online accounts available in the UAE, accounting software that gives you the option of linking your personal tax accounts with it is considered the best for your business. So make sure that you choose a module that can link details regarding our incomes from your business and use these to assess your personal tax return.
- Availability of a helpline
Like every other software, any accounting software can crash and fail to operate at times. Moreover, your staff may have a problem operating it at times. So to save your business from suffering the loss from unproductive hours, choose software that comes with an excellent customer care support option. So that when you have doubts, you can get them clarified easily.
- Mobile Compatibility
Choose an online accounting software that comes with an option of a mobile version that you can use on the go through your cell phone. Check whether the mobile application has all the similar features of the actual software or not and then invest in it.
It is better to opt for web-based accounts solutions as they do not cost much and are more efficient. However, ae accounting experts make sure that the software you choose has the above features to ensure a smooth running of your business operations.