Giddh, September 5, 2017

The 3 things about modern accounting that every IT business owner should know

Businesses in the IT sector or IT-enabled services are often more tech-savvy (they better be). Owners are most likely come from an engineering or other technical background. Not necessarily, of course, but all this to say that they view accounting as a hassle. Now this is ironic because if they are so tech-savvy, they should be fully aware of the presence of online accounting software that has made book-keeping a manageable yet more efficient exercise.

Modern accounting is nothing like the tedious half-manual and half-computerised accounting businesses did a decade ago. Online accounting software is now easier, more secured and better managed today.

If you run an IT business or are providing IT-enabled services, you will find the following information about accounting most useful for your business.

# 1 Online accounting is a three-day learning curve

Online accounting software such as Giddh have a learning curve of three days at the maximum. In this time, you can easily learn how the accounting software works, the basics of accounting and book-keeping and how you can get access to your finance data anytime and anywhere. This is especially crucial for IT and IT-enabled businesses because they are selling services in an industry that changes often. Such businesses cannot have a learning curve of any software for more than a week.

#2 Accounting gets better with practising

Today’s online accounting software are allowing for transparency of documents, multiple user access and admin controls. Any business owner without any commerce background can easily get into the nitty-gritty of accounting through trying out free online accounting software. He or she needs a practice of an hour or so every day in order to get more comfortable with book-keeping and accounting. IT businesses need to start this practice in order to decrease dependence on the accountant or any one person in the company. They need to take control of their finances.

#3 Accounting doesn’t need a class

As we said before, accounting needs practising and willingness. Just as any application that’s being used for the first time does. Unlike offline accounting software that need months of theory and practice, the modern day online accounting software are intuitive and have been designed using a non-commerce user in mind. Through a few days of orientation through the support team of the software providing company, an IT business owner can understand accounting and get a better overview of his accounts.

Are you a small or medium business owner in the field of IT or IT-enabled services? Fret not about accounting because it finally has come of age. Accounting today is not a prerogative of commerce graduates. You have the power to take control of your business finances today. Find out more, talk to us.