Two Small Business Essentials - Accounting and Bookkeeping

Information is an important resource for businesses of all sizes and the people that are employed within. Businesses need to collect data and information pertaining to the financial performance of the business, to process this data and make it into a format that is easy to access to base informed business decisions. As a result of the need to have timely and accurate accounting and bookkeeping information, the development of management information systems has become predominant in all industries and expertise. This system is designed to collect, process, record, report and convert the data collected into a usable format for management and other decision makers within the business to make accurate decisions. As with any decision, the quality of the decision is only as good as the data that it is based upon. With the business implementing an accounting and bookkeeping system that accurately records and reports on a timely basis is the key to making better business decisions.

With the advent of computer technologies, businesses of all sizes now have access to hardware and software that can process data quickly, efficiently and cost effectively. The popularity of the computer has made it feasible for small businesses and industries that traditionally have not been able to afford such investments in technology, to use such hardware for storing, processing and presenting large quantities of information pertaining to the businesses operations, finances, productivity and employees.

Accounting and bookkeeping are a central component of all businesses management information systems. The sale of goods or services starts a series of accounting entries using sales and ledgers to record changes in sales and accounts receivable. Accounting and bookkeeping software greatly enhance and facilitate this process by reducing the effort needed to manage detailed financial reporting and systemising the entry of data.

Farming is one of the leading industries worldwide. The professionalism of the industry is paramount to its success and the adoption of computers and internet based software by farmers and agricultural operations around the world has been a leading trend associated with the increase in productivity and professionalism. Specialist and affordable farming industry software has been designed and tested not only to provide a complete accounting and bookkeeping solution for farming operations, but also incorporates the nuances of the industry, including stock control, fertiliser and other inputs with measures as to their effect on the farms productivity.


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