Codestone

Category: Accounting software

Firms that invest in accounting software may find it is easier to carry out auditing processes accurately, fairly and by the book.

The technology is known to increase efficiency and quality when it comes to conducting financial workings.

It could also help companies avoid scandals related to poor accounting, such as that currently involving Olympus.

The Japanese medical device manufacturer saw the building used by three of its subsidiaries raided this week in relation to the $1.7 billion (£1.1 billion) saga that is believed to threaten its very existence.

In a statement, the organisation said: "We would again like to apologise deeply for causing great trouble and worry for our shareholders, investors and those we do business with."

Such apologies may not be required by businesses that choose accounting software and allow it to perfect their auditing.

Another potentially great use for accounting software is to deploy it when dealing with tax, which Prue Watson, spokesperson for the Federation of Small Businesses, recently said can be a major distraction for firms.

Posted by Jack Gilbert