top of page
  • Writer's pictureAccountant High Wycombe

Digital Accounting

Electronic invoices are becoming an obligation for more and more companies. Not only are they an instrument of fiscal control, they also streamline processes and allow greater internal control.

What is it and what advantages does digital accounting have?

Digital accounting has become a basic tool not only for the control of expenses of a company, but also for tax compliance, since it helps to reduce the cost of this obligation and to bring higher levels of productivity and competitiveness to the business.

If the accounting is inefficient, it can seriously affect the productivity of the companies, so to incorporate into this department a reliable accounting system, oriented to the management and with advanced use of IT is essential at present. Among the advantages of this type of accounting are:

1) Significant savings in the generation, storage and administration of accounting books, since doing so in this way is more efficient and cheaper. Generally, the investment made in a system of this type is recovered in the fourth or fifth month.

2) It facilitates the auditing processes and internal and external audits, because in this way there are books issued, updated and updated.

3) Increase the security of information by having support at lower cost and as a mechanism to prevent disasters or the possibility of it being lost.

4) The documents and transactions carried by the Advanced Electronic Signature offer guarantees regarding the prevention of alteration of the information and confirm its authenticity, as well as the identity of the signatory.

5) Savings in work time.

In countries such as Mexico,Argentina and even UK companies can issue tax receipts electronically, which by law is mandatory for some taxpayers. Due to this, many companies began to acquire software to comply with the fiscal dispositions and began to be interested in the automation of accounting processes, which have reduced even more the time of data processing.

23 views0 comments


bottom of page