Businesses 'need computerised accounting to survive'

News Article - 19 February 2008
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Using an up-to-date accounting software package can help a business weather a recession, reports the Exchange Morning Post.

Patrick Astre of Astre Planning told the publication that both companies and consumers alike should be fully prepared for an economic slowdown.

In order to survive such an event, it is vital that business owners understand the financial ups and downs of their enterprise, he explained.

To do so a computerised accounting software package is imperative, Mr Astre said.

"If you're using an old paper system and doing your own bookkeeping, your first task is to change immediately," he added. "Buy the software and take a course in using it."

Managing expenses without affecting profits, maintaining sales and establishing an emergency fund are also useful steps in establishing a strong and hardy business, he continued.

Gary Bode, a US public accountant recently told south-eastern North Carolina newspaper the Star that expenses should be kept up to date monthly or even weekly with an accounting software package to avoid a rush at the end of the tax year.

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