News Article - 25 February 2008
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Small business owners would do well to invest in online accounting software to aid their payroll administration, it has been claimed.

Grant Lloyd, managing director of Softline Pastel Payroll, explained to itweb.co.za that as the end of the financial year draws to a close, it can be a daunting task for small firms to update manual accounting systems.

He advised firms to purchase automated payroll software as these packages can assist business owners in quickly and easily making amendments as required by any new budget.

"[Users] will have the peace of mind that comes from full compliance and absolutely accurate processing of the individually complicated employee portions of the payroll from day one," Mr Lloyd claimed.

However, choosing the right accounting software is vital, it has been claimed.

Commercial advice group Business Link has warned that good accounting packages can help make a company more efficient.

Article keywords: Company directors could find that they have even more responsibility if revisions to an auditing standard are implemented, one organisation has claimed.<br/><br/>The Institute of Chartered Accountants of Scotland (ICAS) believes that changes to the International Standard on Auditing 580 &#150; Written Representations, could impose an additional burden upon management staff.<br/><br/>Should proposals by the International Audit and Assurance Board be approved, directors would be required to provide their auditors with confirmation that internal control is sufficient for preparing and presenting financial statements.<br/><br/>James Barbour, director of <a href="http://www.access-accounts.com/" target="_self">accounting</a> and auditing at ICAS, said: &quot;This standard is attempting to regulate for companies in the US, where companies' legislation sets very minimal directors' responsibilities towards shareholders. <br/><br/>&quot;In the UK, directors' responsibilities are already fairly onerous and it is completely inappropriate for an auditing standard to attempt to extend these responsibilities.&quot;<br/><br/>Recently, the institute claimed that changes proposed to make businesses use eco-friendly company cars would not be of significant benefit to the environment.<br/>

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