ACCOUNTING SOFTWARE: TO AUTOMATE THE ELECTRONIC ACCOUNTING OF THE COMPANYby Aaa Cas Auditors & Business Consultant in Dubai
With accounting software, generating electronic accounting has never been easier. We have the firm conviction that by trusting us, your work processes are more practical and efficient, as we are a company characterized by excellent management of internal processes and customer service.
Electronic accounting is the obligation to keep accounting records and entries, through electronic means, and enter your accounting information on a monthly basis, making use of the SAT website.
When it was specified that all legal and natural persons, with incomes of less than four million pesos and individuals, who carry out business activities or provide professional services, with incomes greater than two million pesos, will be required to keep their accounts electronically. However, it is an issue that should not be left to the last minute, since the process of classifying and capturing information takes time.
WHAT INFORMATION SHOULD BE SENT, HOW AND WHEN?
To make the shipment in a simpler way, it is necessary to have a technological solution that allows us to invoice online, keep an inventory record, safeguard the information of each commercial exchange, generate reports, among many other functions that save us the generation manual of each of the documents required by the SAT, minimizing the possibility of errors or delays to comply with our obligations. The most important thing that we must take into account for sending electronic accounting is:
· The catalog of accounts with a grouping code established by the SAT, for legal and natural persons respectively. This document is delivered only once and whenever changes are made to it.
· The trial balance must be sent during the first week of the respective month and only once a month. While subsequent shipments will be the first three, and five business days of each month, for corporations and individuals respectively.
· The policies, account auxiliaries and fiscal folios will be delivered five days after the SAT requests them. In addition, they are delivered only when the authority exercises verification powers, or when there is a request for tax refund or compensation.
· The information presented to the SAT must be sent in XML files in ZIP compressed folders, the sending is done through the Tax Mailbox that we find on the SAT web portal. They are sent using the current electronic signature (FIEL).
· During the sending process, the system gives the option to seal the information to be sent. You must select the option to send indicating the reason, from monthly shipment, inspection act, certified inspection, return or compensation.
· The information will be processed and later the taxpayer will be able to enter the acknowledgment query, to verify if the information has finished being processed and will obtain the definitive acknowledgment of acceptance or rejection of it.
· In case of breaching this obligation in a timely manner, the SAT penalizes economically.
The change to this new scheme represents keeping the documents in order and up to date, so it is highly recommended to have the software, since carrying out the process manually generates duplication of efforts, affecting the accuracy of the information, which entails a high risk in non-compliance with tax obligations.
The truth is that we must also take into account that we cannot do without who captures the necessary data and who keeps our accounting, that we can well delegate it to professionals in the field, who with the help of adequate software can automate the process allowing to save in time, efforts and liquidity of the company.
We find multiple advantages to having an electronic accounting software:
· It only requires checks: In addition to the software having very advanced features, they are also very intuitive and easy to use, as some are even similar to an ERP, so we are also faced with a system that optimizes accounting processes. In itself, the work of an accountant will be reduced to verifying and verifying that the data in electronic accounting software has been captured correctly.
· Configuration of accounting accounts: The SAT provides a list of accounting accounts, with which we can guide ourselves with the information that it provides, however the more personalization of the information there is, the better control of the information will be possible. It allows adding accounting accounts and classifying them according to the SAT chart of accounts within electronic accounting.
· Import account catalogs: Allows you to import the accounts from an Excel file to be able to relate them to the SAT accounts within electronic accounting. We also have some chart of accounts options, which allow us to be guided to later customize the catalog and apply it according to our needs.
· We reconcile bank accounts instantly: It allows you to connect bank accounts with the daily operations of the company, automatically generating bank reconciliation. In general, the electronic support of the company's accounting records allows better control, it is only a matter of cataloging them according to the nature of the operation. It also allows you to generate daily policies, income, expenses and relate them to the vouchers that are issued and received within the accounting.
The reality is that the software simplifies the tasks of the accountant, making them less prone to human error in the generations of invoices or policies. For an accountant, this accounting software should be used as a complement to their work, because now they can focus on other areas and enhance their work in the company. The invitation of the new era focuses on professions to evolve with the new digital era.
We know that nowadays processes can be more practical and effective, we only have to inform ourselves about the most appropriate. We assure you that in aaa-cas you will find the electronic ERP Accounting Software solutions in UAE that best suits your needs.
Created on May 17th 2021 00:29. Viewed 104 times.