A constant frustration faced by many SMEs in the UAE is accounting. Ask any accountant and they will tell you how hard it is to manage your accounts when financial information is recorded in multiple locations.
Integrating your accounting with your dealership management software removes all frustrations experienced – opening your doors to greater dealership efficiency and profitability.
Here’s why integrated accounting is so important for motor dealers in the UAE.
What is integrated accounting?
Integrated accounting is combining of your accounting to your dealership management software. Combining both systems means all your financial information is automatically synced from program to program – removing the risk of common human error and accountant administration time.
Why is integrated accounting so beneficial for motor dealers in the UAE?
Motor dealers in the UAE face many challenges; your dealership accounting should be simple and give you the peace of mind of knowing everything is accessible and accurate at all times.
Integrating your dealership accounting through programs like Xero gives your dealership a completely centralised solution to manage every aspect. For example, when a customer purchases a car from your dealership, the transaction information, invoice, receipt, and VAT will automatically be transferred from your dealer management system to your accounting software – completely removing the need to manual data entry later.
Slash administration time:
Integrated accounting will instantly slash your administration time. With both your dealership management software and your accounting system linked, all financial information is instantly transferred from program to program – error free and hassle free.
The benefit of integration is it eliminates the need to use several programs or documents to record and manage all your dealerships financial information. Using multiple systems while bookkeeping greatly increases your accountants time and risk of error. Your accountant will need to go back and forth between programs to find the information they need to complete the job, the problem with this is it is manual and unintentional mistakes do happen.
With an integrated system all your dealerships financial information will be centralised in one location for your accountant to complete.
Studies show that common errors cost UAE businesses an average of 1800 AED per year. Using multiple systems for your dealership accounting significantly increases your accountants risk of error that could cost you significantly.
Integrating your accounting to your dealership management software gives you a simplified central solution that instantly transfers all information accurately between the two programs without the need of manual human input – eliminating the risk of common error.
Decrease accounting costs:
Integrated accounting will ultimately lower your accountant fees – giving you greater profit margins to spend on other areas of your dealership.
The standard charge rate of an accountant in the UAE is per hour. Using multiple systems to record your financial information will require more of your accountants’ time as they will need to go back and forth between locations.
Integrated accounting will instantly slash your accountants time as all financial information will be automatically synced to the correct location. This results in lower accounting fees and higher profit margins.
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How EasyCars can help?
EasyCars by Jeal is a revolutionary car dealer software that automates the buying and selling of cars in the UAE.
EasyCars provides UAE dealers with a complete management software that includes all your everyday needs like stock control, advertising, VAT calculating, Management reporting, integrated accounting with Xero and so much more.
For a free no-obligation demo of EasyCars please submit the form below.