The Ultimate Guide to Choosing Accounting Software

In this world of digitizing systems, one of the key importance is to understand technology but more over making technology your friend.

However, day to day accounting, data handling and bookkeeping and even tons of paperwork might not be the ideal daily lifestyle of a business owner. Now that almost a huge majority of the transaction systems in Nepal are getting online and digitized. The digital wallet transactions in Nepal totaled 213,367,144 transactions. It is equivalent to NPR 219,807 million.

Additionally, QR-based payments accounted for 78,029,200 transactions. It totaled NPR 245,412 million in Nepalese currency according to NRB reports. So if transactions and money are now electronic, It’s time for businesses to evolve and grow with the changing times.

What really is Accounting Software?
As referred to from the name, an Accounting Software is a software designed to manage and record all the financial transactions.
The systematic recording of these data everyday helps a business get its quarterly and annual financial statements.
Now the most benefit of an accounting software is to a business owner since it does help to keep the business’s financial health in check.

What really is Bookkeeping Software and How is it different?

Bookkeeping software is a digital tool that helps businesses organize and record all its financial details systematically. It is designed to replace traditional bookkeeping systems with easily accessible digital tools in one software. Bookkeeping  is more about management than accounting, which focuses more on analysis hence helping businesses beyond accounting.

With proper bookkeeping software, any business can flourish its financial statements beyond accounting. With bookkeeping software companies can track their financial information which further helps during the decisions about operations, investing, and financing. One can call bookkeeping the daily journal for your business.

Bookkeeping Softwares
A proper bookkeeping software simplifies inventory management, makes transaction and recording simple, and easier to connect with the parties involved in the business. Karobar App, A bookkeeping app with simplified accounting software ready to save you from business management problems. It would be best to have a tool that helps in both business management and accounting, especially for small businesses. Now from managing your inventory to generating invoice, all can be done in one single app, Karobar App.

While picking a proper bookkeeping software, multiple things should be taken into consideration before finalization. The key important points to be noted are the app’s features and whether it aligns with what are the business’s requirements from a bookkeeping software.