Why Integrated Accounting Is Essential For Motor Dealers?

24 May 2021 Helpful Tips

A constant frustration faced by many SMEs 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 in the accounting process.

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 system. Combining both systems means all your financial information is automatically synced from program to program – removing the risk of error and costly 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.

Integrating your dealership accounting through programs like Xero gives your dealership a centralised solution. 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.

Slash administration time:

Integrated accounting will instantly slash your administration time. With both systems 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 your dealerships financial information. Using multiple systems for 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 required. The problem with this is it is manual and unintentional mistakes can happen.

Integrated accounting centralises all financial information in one central location for your accountant to complete.

Remove error:

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.

Integrating your accounting 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 costly human 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.

We hope you enjoyed this blog post, to read more of our news and guides check out our blog here.

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.

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