Computerized Accounting Systems The new ways we “PLAY” with money.

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Presentation transcript:

Computerized Accounting Systems The new ways we “PLAY” with money.

10 steps for choosing the right software Become knowledgeable Make lists Eliminate the poor choices Evaluate product features Visit internet sites Read brochures Preview a demo at a retailer Gain some hands-on experience Call references Make a decision

Cost of Software The actual price of the software is not really relevant. REAL COSTThe REAL COST of accounting software is the time required to get it up and running AND the time required to implement manual work if you have to compensate for missing features and reports.

QuickBooks Adaptable to all types of businesses Save time on all tasks See the big picture at a glance Get it right the 1 st time, every time Easy to learn & use Inexpensive to purchase #1 rated & recommended software

Advantages of Online Bill Pay No need for checks, envelopes or costly stamps. It can result in faster deposits and postings of payments – reducing late fees. Bill payment is possible 24 hours a day, seven days a week from anywhere that has internet access.

Advantages of Online Bill Pay Credit card payments may be possible. It reduces the number of over- and under-payments because it is in real time. Most electronic checking transfers are free transactions.

Advantages of Online Bill Pay Set up one-time or recurring payments — days, weeks, or even months in advance. Get alerts to manage your payments. Track your expenses with personalized reports.

Online Payment Types Debit Cards Credit Cards PayPal

Advantages of Debit Cards Payment taken directly from a bank account –Like writing a check online –Prevents you from spending money you don’t have, which is sometimes a problem with credit cards

Advantages of Credit Cards Account Protection/Safe way to pay –Only $50 liability for an unauthorized charge. Can help in a dispute regarding an item –Items are not paid for when billed to your card (if you have not paid yet) Money Savings –Earn interest on money in your bank account while carrying the balance on your card

Advantages of PayPal Combines the best of both previous options. –You can identify a bank account or credit card for your PayPal account to access Enables any individual or business with an address to securely, easily and quickly send and receive payments online. –World's most advanced proprietary fraud prevention systems to create a safe, global,real- time payment solution.

What’s in the future?