Accounting software can vary depending on need, cost, capabilities, etc., but no matter what type you use, it is important that the accountant within your company or organization understands how to use the software and the capabilities within it.
Why do I think this is so vital? I have been working at Boyum Barenscheer for several years and have seen many different types of accounting general ledger systems and many different levels of understanding of the software within the accountant. Due to this, I have seen how important it is to understand your software. In the long run, the better you understand your software, its capabilities and how to use it, the more apt it will save you time and money. Also, it will produce better financial statements and other reports that will help manage the company or organization.
With this, I recommend all accountants get training on how to use their software and have a support line available which can be called when questions arise. I have seen some great software programs with excellent capabilities (along with being expensive at times, too), but the accountant doesn’t understand how to use it. When the accountant chooses to do everything through journal entries or uses another system to create financials or subsidiary records, errors can result due to having to record twice.
Don’t be afraid of your software! Get acquainted with its capabilities and you may be surprised what can come out of it; not to mention the time savings that may be gained.